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Our dedicated mail forwarding services are very flexible and there are several different options you can choose from depending on how you would like your post to be handled.Firstly, we can offer you a free mail collection service, so our clients who live or work near our offices are very welcome to collect their mail from their own dedicated mail box during normal working hours. Our office working hours are between 9.00am - 5.00pm and you simply call in and collect your mail from our main reception.We can also offer you a mail forwarding service; this is best suited for our clients who live further away. Our Mail Forwarding clients can be based anywhere in the world so your location is not a problem for us. Our mail forwarding clients can choose where to have their mail forwarded to, as well as choosing the frequency at which we forward your mail. This could be on a daily basis, weekly, monthly or so on.... as and when you choose. We will forward all of your domestic post by first class mail and if your post is going abroad, we post it to you via airmail on the same day, or at the frequency you require.We can also offer you a scan to email option where you can choose for us to scan all letters that come in to you and then email your scanned copies as an attachment to your chosen email address. Our scan to email option is a same day service, and your letters will be scanned in batches. This can be beneficial for clients who need documents that may be more time sensitive.

Who uses our mail forwarding services?

There are lots of different types of business people who can benefit from using our mail forwarding services. Currently we work with a large number of clients such as:

• Home workers
• Small Businesses
• Companies who want more than one address
• Businesses that need a location in London
• Personal customers without a fixed address

Benefits of our Mail Forwarding Features

Our mail forwarding service in London is designed to be flexible, so you may want to collect your post in person from us one day, but then have your mail forwarded to an address on another. This can suit you when you travel a lot for your business. You can even request our mail scanning services to get those important documents to you while you are out on the road but choose to have other less urgent items of mail posted. We are happy to meet your individual and specific needs, every client has different requirements and we offer a service that aim to meet them with ease.

Saving you money

When forwarding your mail via the postal system we can offer you some great advantages over Royal Mail. When sending the post onto your chosen address we actually frank your post in-house, this is cheaper than using Royal Mail by about 25%. We also bundle your post together, so if you have several loose letters we will place these letters into one sturdy envelope for you. Bundling your post drastically reduces your postal costs and can also reduce the risk of letters going astray in the post.If you already own a Limited Company you can also use our registered office address alongside our mail forwarding option. You can read more on registered offices here. A registered office is a legal requirement for your company by Companies House and we can provide you with a prestigious London address for you to use as your Limited company registered office address.

Many people ask us what the main difference is between our registered office address, mail forwarding London service and the directors service address option. Each service we provide has marked differences and meet with the needs of professional business people in different ways.A director's service address for example is for directors of a Limited Company who would prefer to keep their personal address private by not having it listed at Companies House and put on the public register as the directors service (main contact) address.This simply means that when a member of the public searches for your company details via the Companies House public database, they can find out your company details, such as ownership structure and contact address details for the directors. Many clients are often unaware of just how much information is available online through the Companies House public register.Using our Directors Service Address will keep your residential address protected and completely separate from your business address. People can of course also search for where the company is registered (this is called a registered office address).Our directors service address also allows you to change the contact address for your director to our prestigious London address in City Road. More information on directors services can be read directly from the Companies House website.

What are the benefits of using our Directors Service address?

• Protects your residential address from public records
• Stops unwanted callers contacting you at your home, including junk mail & customers
• Prestigious London address that looks like a more professional address
• Very affordable

How is the Directors Service Address different from a Registered Office Address or mail forwarding address?

Registered Office Address

Our Registered Office Address package is similar to a directors service address where by you are changing your business address details at companies house. However this will update your registered office address to the one provided by Your Virtual Office London. Having a registered office address that is based in the heart of London can convey a level of professionalism that will help you to be taken seriously by both clients and business partners alike.

Mail Forwarding

Our mail forwarding address service is different yet again from the above mentioned address services. With this service we provide you with an address for your business correspondence only. So your clients would use your mail forwarding address as your trading address.You would then be able to update your correspondence address details on your websites, business cards, and stationery etc. to reflect your new London based mail forwarding address. The idea behind having a forwarding address is to give your clients the impression that you are based in London at a prestigious city address. First impressions are very important in business and this service can really help to boost your credibility and therefore your sales.This service is also useful for safely diverting all your business correspondence while you are moving premises and you are worried that important mail may get lost, delayed or sent to the wrong address.You can find out more about our professional business address services here.

Not sure what to do? Registering as a Limited Company can be more beneficial with tax advantages when compared to being a Sole TraderUpdated July 2016.Over the years, many of our clients have come to us and asked if they should change from being a sole trader into becoming a fully-fledged Limited Company. Our advice in these circumstances is that it all depends on the type of business you run, how much you are turning over and whether you plan to grow and expand business further. These questions are vitally important to help answer that all important question.There are a lot of differences between being a sole trader and a Limited Company. Let's take a look at how tax is affected under each circumstance.

What are the tax differences between a Limited Company and a Sole Trader?

Sole Trader

If you are self employed, and trading as a sole trader, your business profits and personal income are lumped together under the same roof. This means your income is taxed via the annual self-assessment process. You will not be able to defer profits to other years, so if you have a good year with a high turnover followed by a slower year with less profit, you cannot carry over any profit from the previous (good) year to see you through a lean year (share dividends can be held back). In addition to personal income tax you are required to pay National Insurance Contributions (NIC) on all your profits.

Limited Company

If you run a Limited Company and are a shareholder, the company is liable for Corporation Tax on the business profits. The advantages of a Limited Company is that you will be able to hold back profits and then distribute them as dividends in future years. This means you can maximise the tax efficiency and utilise all the tax breaks afforded to Limited Companies. Simply put, you are likely to pay less personal tax than being a sole trader.

The main benefits of forming a Limited Company when compared to a sole trader:

1. An obvious benefit is that the Limited Company is a separate legal entity from you in the eyes of the law and protects you and your personal assets from legal disputes. You are not liable personally, so if the worst should happen and you have to cease trading and close your business, you will not have to pay off any company debts with your own personal money, unless something like fraud or money laundering has taken place. However, a sole trader will be responsible for any outstanding debts left behind, and if they find themselves in a legal battle will be susceptible to losing personal assets if found guilty.
2. Limited Companies can be more tax efficient as a dividend has a lower flat rate of tax when compared to higher income tax bands. So a Limited Company owner can pay themselves in dividends, and ultimately pay less tax when compared to a high earning sole trader who could find themselves paying upward of 40% income tax on earnings.
3. If you expect your business to earn very little, a sole trader would be easier to manage, a Limited Company can often require the help of an accountant to ensure the correct workings of the company tax liabilities.

Professional Business Image

Many companies are only happy doing business with a registered company. Being a limited company can give you a more professional image and encourage more businesses to trust you and do business with you.Your trading name will also be protected as a limited company. When you go through the formation process, your company name will be filed with Companies House and no one else will be allowed to trade under your business name. This can be a great bonus while you are still growing your business and crafting a strong reputation for your company. You wouldn't want all your hard work and effort to build your company branding and credibility to go to waste through someone else stealing your trading name.If you are unsure what you require or what is the best option is for you, please contact us so we can talk through the best options for you and the future success of your business.Your Virtual Office London - the professional choice since 1971.

There is no right or wrong answer about the number of shares you should issue when forming your company, however your answer will depend on your situation and how your company is going to be run.Updated July 2016.All registered companies are run by its board of directors and the shareholders, shareholders are also the legal owners. A shareholder can also be a director.

What are shares used for?

When a private Limited Company starts trading, normally a company will have assets and cash placed into it by the owners - who are the shareholders - to help get the business started and running properly. For example, a new company requires £5,000 to get started. This money may be used to pay for branding, advertising, website design and purchasing of stock. The £5,000 capital would have been placed into the company by the shareholders in exchange for shares in the company.

How many shares should I create?

If there is more than one shareholder in the company, their shares would represent the amount of capital they invested, so if 'Joe Bloggs' the first shareholder invested 70% of the capital he will then require 70% of the shares as equal representation. The simplest way of raising the £5,000 capital needed would be to create 5,000 shares, as this would equated to each share value being £1.00. Of course this is a very simplistic approach but does make it very transparent and equal.An alternative approach, if there is more than one shareholder, would be to issue one share each. Any capital placed into the business would be classified as a loan by the shareholder and would be required to be paid back.Both examples mentioned above are very simplistic methods of distributing equal shareholding when capital is placed into a company. In both cases the shareholders are equal owners of the business, which means they will receive equal dividends, equal assets and equal voting rights.

What about tax?

While both of the above methods are similar in terms of ownership and rights, both methods are very different in terms of taxation. Please contact us today so we can talk you through how best to optimise your tax outlay. We have a vast knowledge of accounting and tax advice that we have gained over our years of service in the industry, so we can advise you of your best course of action.

What if I don't want other shareholders?

If you are thinking about going it alone and forming a private limited company on your own with no other business partners involved, we would recommend issuing 1 share to start. This means you are the main and sole shareholder of your company. If more shares are needed further down the line, for example if you take on a partner or want to expand your company, these can be issued at a later date.If you are looking to form a Limited Company, or you are interested in creating the right first impression by using our mail forwarding address services, please do contact us today.

The location of your office and your business reputation are very intertwined. A prestigious address on your company letterhead can foster a positive first impression of your business even before the client has even met you. Those first communications with your new client will start off on the right note with a positive air and a willingness to do business with a company with some gravitas to their name.However, if you have a business address based in a run down area, a potential client's first impressions of that address can lead to a very negative outlook for you and your company. Can you really risk putting off prospective new clients even before you have spoken to them?A business operating in a well known area, such as our Virtual Office in London, can give your clients a positive first impression. Everyone understand first impressions are important, and we can help you achieve this. After all, where better to have your company address than in the beating heart of the country with a well-established reputation as a world-wide business hub.Our virtual office package provides you with a cost effect solution to establishing your good business name and reducing the risk of lost revenue through poor first impressions. Our cost-effective virtual office services offer a customisable range of management services that can help you see a great return on your investment.For example, you can obtain a prestigious London address for your company for less than £100 and this can be used as your main address, or in addition to your regular business address helping your clients think that you may have several offices located around the UK. Mail Forwarding is included, so this means you can use the address on your company stationary, websites, and other material and have your clients send their mail to you at your London address. Once we receive your mail, we can then forward your mail to your chosen location. This can be your main office address where you run your company from, or to your home address - wherever you prefer. We will not disclose your forwarding address to anyone.Don't worry if your business premises lacks suitable meeting space. Our virtual office address can also give you access to modern, unbranded business meeting rooms, creating a professional atmosphere for your business meetings. Using our state of the art meeting rooms can help your to maximise your business activities to achieved the best possible results for a very small outlay.Our virtual office and meeting rooms are a perfect fit for small companies or larger organisations that may not want or need to pay rent on larger business premises all year round when then are not needed at all times. We also find many homeworkers benefit from our virtual address service as it enables them to appear larger than they actually are, and helps to keep their personal residential address off public records.

How does it compare to a real office address?

Our virtual office service provides all the advantages of a real bricks and mortar office but without requiring the large overheads and expenses needed for rent, rates, insurance and employee wages. Our virtual office address allows you to have all of your business post sent to us in London, we then forward all of your mail to your chosen address.Virtual Offices are certainly a smart and efficient way of helping to improve businesses productivity. It enables your business to develop excellent relationships through good impressions and positive reputation building. A virtual address offers all the benefits of a real office address without the associated overheads. This is a fantastic cost-effective method of improving your bottom line and cutting out a lot of expensive and unnecessary business outlay.Find out more about our virtual office services here.

Shares ultimately tell you who own the company. Directors are in charge of the company but they may not actually own the company but they could have shares in it. The shareholders are the legal owners of a UK Limited Company.A private Limited company may have many different shareholders or just a small handful, how much of the company they own can be reflected in the percentage of shares they own in the company. So for example if 100 shares in a company are issued, and Joe Bloggs owns 80 shares, then Joe Bloggs will be the majority shareholder and will owns 80 percent of the company.

Dividend payments

Shareholders are paid via a Dividend. Any profit the company makes can be issued to the shareholder in the form of a dividend. So the more shares you own in the company the larger the dividend (or payment) you will receive. If you are an 80 percent shareholder for example, then you will be entitled to 80 percent of the issued dividend.Having shares in a company can also give you powers to help shape the business and the way it is run. The shareholders are given voting rights at general company meetings. The more shares you own - the larger the say you have in the running of the business.

How many shares should you create when forming a company?

This is entirely down to you, however we recommend creating a small amount of shares to begin with, so they can be easily divided. If you are going into a partnership, we would recommend 2 or 10, as these can equally shared. We also recommend setting the value of the share are £1 as this equates to the amount you would loose if the company was to go in to administration. Extra shares can be created if needed at a later date, for example if you were to bring in a new director they may want a share as an incentive.

Do I need to inform Companies House of the shareholders?

The short answer is yes. Companies house requires you to maintain the register of all shareholders and shareholdings. When you file your annual return to Companies House, the previous years activities including your list of shareholders and holdings will be publicly available.

What other types of shares are available?

The share most shareholders issue upon company formation is called an ordinary share, and this gives the shareholder equal voting and dividend rights.There are other types of shares, such as preference, non-voting, B Shares, and may have different options such as no dividend or voting rights, or a smaller or limited dividend percentage. Some well-known companies provide shares to their staff, such as Waitrose, they feel this gives them an incentive. This is where a special type of share can be useful. The type of share you have issued and the function it has will have to be in the Companies Article of Association.

What is the difference between a shareholder and a stakeholder?

A shareholder will own part of your company through stock ownership, but a stakeholder is more concerned with your company performance rather than stock appreciation.Stakeholders are looking for other guarantees, so for example your company employees may be stakeholders who want to see the company do well so they can keep their jobs. They could be your customers who absolutely rely on you to provide them with the goods or services they need, for example community farm customers who rely on their weekly organic vegetable boxes for food. They may have invested money into the farm to help set it up but wouldn't expect to get a dividend paid to them.Shareholders still make up the largest percentage of most registered companies, but they are still affected directly by a companies performance just like a stakeholder would be.

File a second filing of a document previously delivered (RP04).This form should be used to notify Companies House of a second filing of a previously properly delivered document that contains inaccuracies showing on the register. There is also a guide to filling in your form on the link above.This form only applies to the following documents:AP01 Appointment of directorAP02 Appointmentof corporate directorAP03 Appointment of secretaryAP04 Appointment of corporate secretaryCH01 Change of director’s detailsCH02 Change of corporate director’s detailsCH03 Change of secretary’s detailsCH04 Change of corporate secretary’s detailsTM01 Termination of appointment of directorTM02 Termination of appointment of secretarySH01 Return of allotment of sharesAR01 Annual ReturnForms need to be printed at full size on white A4 sized paper.This is a relatively new feature introduced by Companies House that allows Limited Companies and Limited Liability Partnerships (LLP`s) to re submit information that may have been incorrect at the time of filing (usually due to the company formation agent incorrectly inputting information).

I need to re submit a second filing how do I do this?

You will need to re submit to companies house a new form which is basically a correct version of the form which your agent may have asked you to fill in. You will also need to fill in the following forms:FORM RP04 This is for Limited CompaniesFORM RR04 This is for limited liability partnershipsPlease note you need to attach the above forms to each corrected form that is being second filed.

Once the information is corrected, is the original removed?

The short answer is no, any information provided to Companies House is there permanently on record and will remain on the register indefinitely. For more information on how long records last see our blog post on company information records. Your new information will be updated and displayed correctly on the Companies House records.

What forms can be Second Filed?

For companies:

• AP01, AP02, AP03, AP04 Appointment of director, corporate director, secretary or corporate secretary
• CH01, CH02 ,CH03, CH04 Change of director`s, corporate director`s, secretary`s or corporate secretary`s details
• TM01, TM02 Termination of appointment of director or secretary
• SH01 Return of allotment of shares
• AR01 Annual Return

For LLPs:

• LL AP01, LL AP02 Appointment of member, Appointment of corporate member
• LL CH01, LL CH02 Change of member`s details, Change of corporate member`s details
• LL TM01 Termination of appointment of member
• LL AR01 Annual Return

Can I resubmit my second filing online?

No this service is not available online. You will need to fill in the above forms and return them by post. The second filing must be submitted on paper.

Do I have to pay for a second filing?

Companies House does not charge for a second filing as of June 23rd 2014.If you would like help advice on forming a new Ltd Company please do not hesitate to contact us, we are always happy to provide free expert advice. We have a vast amount of experience and have been forming companies since 1971.

Sometimes it can be confusing to know whether or not you need to submit a self assessment tax return to HMRC at all. The best advice for those who have been sent a notice to file a tax return is that they should do so, even if you think you do not have any tax to pay this year.There is a risk that by ignoring the request to file a return you will land yourself with a fine for not completing it regardless of having to pay tax or not. The penalty currently stands at £100 for not filing a return.You may have had a change of circumstances that has led you to think you don't need to file a return. If this is the case then you should contact HMRC to tell them the reason why you think this is not needed, but you must do this before the deadline date of 31st January to avoid any penalties.

Who should always file a self-assessment tax return?

There will be people that need to submit their assessment every year. These will be people that are self-employed, partners who run a business together, sole traders, and those people who may work as an employee in a job but also have a self-employed business on the side.Working a regular job and being self-employed at the same time is on the rise with many people choosing to work full-time or part-time for an employer and then work part-time on their own business. Even having a hobby that pays you something can be classed as a small business.All self-employed people and sole traders need to be aware of when you should send your Self Assessment tax return to HMRC. This is important as you do not want to receive a penalty fee for non submission or even late submission. If you are unsure or need some advice, do not hesitate to contact us! We can provide you with expert tax advice for your business and help keep you on track to avoid unnecessary fines.If you do need to send HMRC a tax return, you will be reminded by post in April or May. The letter will contain information about when you need to send the tax return back. If you are unsure if you should return a tax return you can check online at the HMRC website.Again, if you think you no longer need to fill in a return, you will need to inform HMRC as soon as possible. Even if you are no longer self employed you will still get a fine for late filing. You can contact HMRC direct through their website.

The deadlines for sending your HMRC tax return

The deadline is 31st October for your paper tax return

The official date for sending your paper tax return is midnight 31 October. On rare occasions it may be later if HMRC sends you a letter informing you to complete a tax return, the deadline will then be confirmed in the letter to you.

The deadline is 1st January for online tax returns

The official date for completing your online tax return is midnight 31st January. Again the same rule applies, if you receive a letter to complete a tax return later than 31 October the deadline will be on this letter and will be different to the normal tax return deadline.

Penalty payment

You will be liable to pay a penalty if you miss the deadline for submitting your return or you are late paying your bill.Currently HMRC issue a penalty of £100 if your tax return is up to 3 months late, but you will have to pay even more if it’s later that this, or if you fail to pay your tax bill on time.You are allowed to appeal against a penalty if you have a reasonable excuse or reason for not being able to submit on time. This could be due to an accident or serious illness for example.If you are at all concerned about getting your self-assessment submitted to HMRC, speak to us today. We provide leading virtual office, company formation and business taxation advice. We are always happy to help and are experts in our field with many years of experience in the business world under our belts.

When you form a new Limited company you will receive a letter from HMRC, this will contain a Form CT41G Corporation Tax information for new companies. This should be received within several days by post at your registered office address; once the company has been registered with Companies House. On the odd occasion you don't receive the form, you will need to inform HMRC within three months from the date your company has started trading (is active). You can do this via HMRCs online service, or simply contact our accountant and we can help you achieve this.HMRC will consider your company to be ‘active’ for Corporation Tax purposes when you are actually trading. For example, while carrying out your business activities, trading and receiving income.Dormant companies: HMRC would not consider your company active for Corporation Tax if your company is ‘dormant’. So for example, if you have set up your company but you are not yet active or not trading and bringing in any income, then you wouldn't be liable to pay Corporation Tax.

Corporation Tax is paid before the company tax return is filed.

Corporation tax is due before the deadline of filing your company tax return. The deadline for your payment will depend on your taxable profits. This is very different from Self-Assessment and VAT as the date of filing returns for Self-Assessment and VAT are usually the same. A lot of business owners can find this confusing so if you are unsure please do make sure you consult with us today, where we can talk through your tax dates. You can contact us here for some advice.

Corporation Tax Dates & Deadlines

The deadline for paying corporation tax is referred to the normal due date. The deadlines will vary dependent on factors such as the profit your company makes, so one company may have a completely different due date to another. HMRC expects all owed tax payments to be submitted electronically. More information about this can be found out on the HMRC website.

Dates for companies with £1.5 million or less taxable profits:

If your company has a profit of £1.5 million per year or less, the Corporation tax is normally nine months and one day after the end of your Corporation Tax accounting period.

Date for companies with more than £1.5 million taxable profits:

If your company has a larger profit over the £1.5 million mark, you will be expected to pay your Corporation tax in installments. More information about paying on installments can be found here.

I am unable to pay Corporation tax on time what can I do?

If you are unable to pay your Corporation tax on time, HMRC will charge you interest on what is owed to them. You may also be fined for not paying enough on your installments or you go out of your way to stall or fail to pay your regular installments.Any penalty charges will be applied once you have submitted your Company Tax Return and HMRC have had time to determine your case. Find out more information about penalty charges here.

What is the deadline for filing my Company Tax Return?

This is referred to as the statutory filing date. You are expected to file the companies Tax Return with 12 months of the end of the company's tax accounting period. If you file the accounts late HMRC will charge your company an automatic penalty.The rules and regulations around tax can be a little overwhelming. If you are struggling to work out what you should be paying and when, then do not hesitate to contact us for some guidance.

If your business turns over more than £83,000 (correct as of 1 April 2016) then it is compulsory that you register your business for VAT and this means you will need to charge VAT on your sales.If you fully expect your turnover to rise above this limit before the end of the year, or it has already done so, then you should register for VAT anyway.The VAT registration threshold changes annually so if you are not currently registered and you think you may achieve a turnover similar to the threshold it is worth ensuring that you know the limit for the current year.Registration can depend on your past turnover and projected turnover. You will have to register if your turnover in the past 12 months has gone beyond the set threshold, you will also need to register for VAT if you expect your business to exceed the limit in the next 30 days. Some businesses can grow rapidly in a very short time, so it is important to keep an eye on your figures to make sure you are not in breach of tax laws. No one wants to be fined for falling foul of VAT laws!You can find out more about registering for VAT by contacting us, we can help get your registration setup. The official page on the HMRC website can also help provide useful information on when you should register for VAT. If you want to find out how to register for VAT you can also visit the HMRC website or feel free to contact us. A lot of new business owners can become a little overwhelmed with the laws and regulations that surround VAT and how to register for it. We are here to help - feel free to contact us for some assistance and support.If you run a business that turns over less than the VAT threshold you can choose whether to register for VAT or not. This is caller voluntary registration, where a business chooses to charge VAT on its products. This can be beneficial for companies purchasing stock and then claiming back Value Added Tax. You can also read more on voluntary registration on the HMRC website.

Should I Register For VAT?

This is a question that is asked a lot by small business owners when they see their turnover rise. Although your turnover may not be close to the VAT threshold, it may be of some benefit for you to take voluntary registration for your company. It is worth registering if it makes sense for your business and your plans for future growth.If you are running a company that buys items from another VAT registered business, then they have to charge you VAT by law. However, you can claim this back!Here is a simple example of how this works and how you can be better off by being VAT registered: Lets say that in a 3 month trading period you have collected £1,000 in VAT from your customers. You will then pay this £1,000 worth of collected VAT to HMRC. It is almost like you are acting as an unpaid tax collector!However, during that same 3 month period you also purchased stock or services from a supplier and they charged you £200 + VAT (Total: £240). The amount you now have to pay to HMRC is the VAT you’ve collected from your customers (£1,000) minus the VAT you’ve paid out to your supplier (£40). So you will be handing over £960 in VAT charges to HMRC (£1,000 minus £40).You don't have to be good at maths to work out that you will be £40 better off at the end of this 3 month period than you would have been if you weren’t VAT registered.

Over the threshold but its a once off?

If your business has exceeded the VAT limit but this was due to a sales that was unexpected, a business can ask to be exempted from VAT registration. HMRC would require your business turnover to be under the de-registration threshold which is currently £81,000. (Correct as of 1st April 2016).

Why not speak to an accountant?

Tax can be a complete minefield for those who are unfamiliar with it, its one thing to run a business but to keep on top of a business and juggle the accounts is quite another. Some businesses are more time intensive than others, we always recommend having a chat with a qualified accountant. Why not give us a call? You can contact us here. We can talk through any questions you may have giving your peace of mind at the very least.