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Reminders for Directors

  • One person can form a Ltd company.
  • Directors are to provide service address to Companies House for public record instead of residential address.
  • Service address can be the company registered office or other address as long as mails from Companies House can reach the directors.

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UK Tax Authority - HM Revenue and Customs

  • Companies are required to register for VAT if annual sales exceeded £68,000.
  • Companies are required to register for PAYE if directors are drawing salaries and maintain payroll records.
  • HM Revenue and Customs will issue £100 penalty if companies failed to file corporation tax returns on time.
 
Business Quiz - See what your score
1. When must a limited company, with accounting period starting on 1 May 2008, file its statutory accounts to Companies House ?
 
6 months after the end of the relevant accounting reference period
9 months after the end of the relevant accounting reference period
10 months after the end of the relevant accounting reference period
Submit
 
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Employing people

 

The employment law has given employees more protection in recent years. There are now disciplinary and grievances procedures you must follow if you are firing your staff. Employers who sacked their employees without reasonable grounds can get themselves into serious trouble.

However, if you stay on the right side of the law, follow all the statutory disciplinary procedures and fair about the reasons for dismissal you do have the right to sack your employees.

The laws are there to protect employees from bad employers. These laws also help employers to protect themselves from disgruntle employees. The law is not a burden to good employers who look after their employees and promote fairness within workplace.

It is a good practice to have an employee handbook and formal appraisal system in place at work so that every employee is aware of your company’s policy and procedure and the purpose of the appraisal system.

The appraisal system is used to evaluate staff performance and any aspects of staff shortfall can be picked up and encourage improvements and it can also be used as planning for staff training on desired skills.

Remember every human being on earth like to work for companies that look after their staff interests, preferably companies labeled with best employers.

If you are thinking of employing people or your company has employees but do not have time to prepare employees handbook and appraisal forms. You are welcome to speak to our accountants. They will be able to offer you the best solutions.

Canterbury Accountancy – Helping businesses stay on the right side of the law.

 
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