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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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Registering your company

 

Although it is possible to register a limited company yourself with Companies House, unless you have done it before you are probably going to need the engage the services of either an accountant or company formation agents.

Fees for many company formations agents and accountants for forming a limited company for you are around £100 or less depending on the company incorporation package you chosen.

The advantages of using an accountancy firm to form a limited company for you are that of the accountant can give you advice on the compilation of the necessary documents and the right structure for your business of which this service is not available from Companies House on registration and if you are unfamiliar with the process it is advisable to get help to avoid errors.

The recent development in company incorporations and computer technology used in company formations sector make it possible for accountants to form a limited company for individuals for a price cheaper than most company formations agents, solicitors and traditional accountancy firms.

Another benefit of using Accountancy firms company registration service is that of you can gain access to free advice on how to create, file and maintain proper accounting records from the beginning of your business journey.

As you would not want to find out that you have been recording your accounting books the wrong way at the end of the year. You would have to pay higher fees to your accountants to sort out your messy records.

Canterbury Accountancy –resources for business start-up individuals

 
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