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Company Formation Services

Useful advice, tips and business news.

July 4, 2014
May 5, 2021

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What is a good standing certificate?

A good standing certificate is simply a certificate that shows a company has been in continuous and unbroken existence since the date of its incorporation.

A good standing certificate is simply a certificate the shows the company has been in a continuous and unbroken existence since the date of its first incorporation. It also states that there is no action being taken against the company, such as a strike off.

What does my company needs in order have a good standing certificate to be issued?

First of all its important that your annual return or confirmation statement is filed and up to date. You will also need to have:A private Ltd company needs to have one director that is a natural person.For a public limited company 2 directors are needed and a secretary.A Certificate of Good Standing is issued by Companies House and will be sent to you by post to your company’s registered office address. If you prefer, you can apply for and download an electronic copy, however this will not have the signature of a Companies House official signatory and so is may not carry such an equal gravitas as an official printed and signed copy.

What other details can I include on the good standing certificate?

The following details can be included upon request:

  • Directors names
  • Secretaries names
  • Registered office
  • Issued capital
  • Shareholders
  • Company objects
  • Date of birth
  • Nationality
  • Other factual details if needed

Do I really need a Certificate of Good Standing?

Most companies operating in the UK may not have a particular need for a Certificate of Good Standing. However, having one does demonstrate to others that the company is meeting its regulatory obligations. A company director can very rightly be proud of their achievements so having a certificate can show that the company is professional and well organised. This can be a great morale booster for the company directors and shareholders as well as give confidence to customers or clients and suppliers of the business.One of the main benefits of having a Certificate of Good Standing is when you are planning to conduct business abroad. If you’re setting up a foreign branch of your company in another country, you will usually need to provide a Certificate of Good Standing to that country's official registrar, or what they class as the equivalent of Companies House in their country.

How can I get a certificate of good standing?

You can contact us today, and we can help arrange a certificate of good standing for a very reasonable fee. It normally take up to 7 days to complete. We can offer a same day service, this is more expensive but a good option for time sensitive requirements. Please feel free to read our business blog, where more information on company formation, virtual offices and other services can be found.

July 3, 2014
May 5, 2021

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How to manage a sucessful company in 6 steps

It is very important that both entrepreneurs and those looking to start up a new company must know what all is needed to manage a successful company.

It is very important that both entrepreneurs and those looking to start up a new company acquire the skills needed to lead and manage a successful company.The administration of any company must go through a series of stages or processes, whether its a small, medium or large sized business. Many people just about to start up their business will be wondering where and how they should start. Is there a step-by-step guide out there that they can easily follow, or is that over simplifying the process?To begin with, no two companies are likely to operate in the same manner so getting started and running your business may differ slightly to someone else starting in the same industry. Regardless of what industry you choose to specialise in, you will need a good solid structure or foundation on which to build your company.It goes without saying that you will need a leader or a team of people to run your company. A director or board of directors is usually your first step to have established at the beginning. You can add and remove directors after your company formation is complete, so you don't have to worry about this as your company grows.If you are starting a small business then you may take on the role of the director as well as the general manager role of your company, but you may choose to delegate your management roles to others as your company expands and you need to focus more on directing the company.You may have a brilliant idea for a business and the drive and passion to see it succeed. Never worry that your business may not be a success because you are not a whiz at finances, or you feel you are not very good at managing others - you can hire in experts and managers to take on these tasks for you at a later stage so you can concentrate on what you are good at and focus on growing your company.How you choose to run your business is your concern, but to set it up properly is crucial in the beginning to make sure you comply with government rules and regulations. It would be helpful for you to read up on what is required by law for companies to start up and operate - you can get expert help about this from us by contacting us here. We will be happy to help set you on the right path!

6 Sure-fire Steps to Success!

So before you jump in at the deep end, here are some useful planning tips to help you get started properly.

Step 1: Focusing on the reality

When starting up a new company, it is easy to become over ambitions with your goals and for you to set unrealistic targets, or even be threatened by competitors successes. Your competitors certainly didn't earn their success overnight, so you shouldn't expect to be out-performing them very quickly. This is why it is so important to seek out information relating to the economic environment for your chosen niche and look at the performance of other businesses in your industry and thereby being able to set goals and targets within a realistic framework.

Step 2: Planning

Planning is an essential step of any business, from the smallest of businesses to large global multinationals. When you do any planning, it will be essential to have a definite purpose and process with regards to all aspects of your business, from partnerships, directors, managers, products or services, advertising, brand identity and logo to name just a few.Planning your company can take a very long time. It may be frustrating for you when all you want to do is jump in and get your company off the ground, but taking the time to plan each structure of your business is very important and will give you the strong foundations you need to build your company with. You will be so glad that you worked out your strategy and formed a plan to follow in the long run - believe me!Once you have your management structure in place, there is no better time to seal your commitment to your new venture than to have it officially incorporated as a company. You can do this quickly and easily through our company formations service and once completed you will have a great foundation from which to build a highly credible and productive business.

Step 3: Capital use

Whenever possible, it is recommended to use the cheapest source of capital you can get to start with. You will find that you may not make instant profits from day one of your business, and when you do start to see gains on your investment you have to think carefully about re-investing money back into your company to help it grow and expand, but to also upgrade or replace equipment that you use.Venture capital and contributing partners funds are a good start, and most of this funding will have more favourable interest rates or terms and conditions than more expensive methods. The last thing you want is to be saddled with expensive debt to pay back as a priority rather than using most of your profits to re-invest back in your own company.

Step 4: Habits of customers

Having a thorough and in-depth knowledge about the shopping habits, tastes, likes and dislikes of your target audience is essential. The better you know your customer demographic the more you can tailor your products or services to fit with their needs and desires.Take time to read any customer research already available in your chosen sector, or if you specialise in a particular niche, conduct some market research of your own through surveys, interviews and social media polls.

Step 5: Stock or skills inventory control

If you plan to sell products to your customers the it is important to keep control of your stock. If you overstock, you may find yourself short of funds to use elsewhere - for example, sales and marketing campaigns. If you understock, then you will not be able to fulfill customer orders and you will attract negative feedback as a result that can seriously damage your reputation and put off potential new customers.If you are providing a service, then making sure that you have an adequate skills pool available to your customers or clients will be essential. For example, if you run a team of plumbing and heating engineers then you will want to make sure that your team are fully qualified and up to date with their training, especially when new health and safety legislation is brought in or changes are made to environmental rules.

Step 6: Meet your responsibilities

While it is both exciting and thrilling to owning and running your business, becoming too wrapped up in the day to day hustle and bustle of keeping on top of your workload can lead to you forgetting or neglecting to carry out some very important aspects of running your company.If you employ staff then you have a responsibility to them to keep the business above board and running well so they can keep their job. If you have shareholders and business partners, you will need to make sure they are kept up to date with information on how the company is doing, but also making sure that everyone is getting paid on time.After you have gone through your company formation you will also understand that you have certain responsibilities to fulfill for HMRC and Companies House each year. Failure to meet your legal responsibilities would land you in some pretty hot water with the government and could see your company being landed with unwanted fines.Luckily, we at Capital Offices have a wide range of helpful services that we provide for our clients. So no matter if you are new to starting up your own business or you have already formed your own company, but are looking to expand, we are here to help you! Contact us today for some advice and guidance, or take a look through our blog and website to find out more about how we can help you succeed in your business.

July 3, 2014
May 5, 2021

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Market research and how to make it a success

The scope of market research is more or less limitless. You need to know the right steps to take to make market research successful for your business.

Market Research is a form of study conducted to collect necessary information for your company, giving you great insight into your customer needs and opinions about your product or service, allowing you to take decisions forward based on the results you gather.

The Characteristics of Market Research

The scope of market research is more or less limitless. It takes into consideration all aspects relating to your business, such as:Location - geographical location, local markets, regional, national, European or international.Products - type of products / services studied; a group of products (e.g. cosmetics), a type of product (perfume), or a specific product (brand of perfume given).Time - the past market, present market or future market.The profile of buyers - by gender, age, socio-professional category, by level of education ...Profile of intermediaries or end users: resellers, retailers, wholesalers, makers, mothers, children.

Why use Market Research?

Market research is very useful if you are creating or launching a new product or service and you want to adapt it to fit with your consumer or client expectations. It makes sense to run a survey to measure the risks involved and know which direction to develop your product or service. This is a classic form of market research.The process of conducting market research is not complicated in itself, but many pitfalls can skew the results and lead to false conclusions. There are a lot of considerations to take on before you conduct your market research, such as the choice of survey mode, the number of people to be interviewed, the demographic you want to target, the preparation of the questionnaire and the analysis of data collected, are the keys to running a successful research project.

Steps to a Successful Study

Before launching a new product, a properly conducted investigation in the form of market research can limit your risks and help you know what direction to go in. Here are some of the most important points to consider before starting a market research campaign:

  • Anticipate the actual needs of your customers.
  • Consider all information as important.
  • Learn from the competition.
  • Take the best information from your customers.
  • Perform a survey.
  • Collect as much information as possible by telephone or face-to-face.
  • Define accurately the expectations of your customers.
  • Estimate figures on your competition more accurately.
  • Get help from a trusted person who knows about your project.
  • Measure the potential of your customers.
  • Perform market research specifically tailored to your product / service.
  • Look for information at official statistical agencies.
  • Learn about the demand and competition by region.
  • Make sure your product / service does not already exist.

Samples

Make sure that your target audience is relevant. What are your competitive advantages over other businesses in the same niche? Identifying your customer needs and the potential for success in your relevant sector are the pillars of good market research.To do this you need to do some thorough sampling. This is the part that is responsible for capturing relevant data from primary sources, or 'samples' of the demographic you are targeting with your product or service. You then can analyse and generalise the results to a percentage of the population from which it was extracted.The idea generally consists of obtaining sufficiently representative samples to generate conclusions that apply to the entire target population. So for example if your target audience for your product or service is women aged 25 to 40, you would focus your market research on as many women that fit this age range as you can, analyse the feedback and draw conclusions from your results.If 8 out of 10 women surveyed during your market research were positive about your product or service and stated that they would be happy to buy from you once it was available, then you can say from those results that your business is very likely to succeed and do well. However, if the results were opposite and only 2 out of 10 women surveyed actually liked your product or service, then you wouldn't be advised to launch your business and it would most certainly mean going back to the drawing board with your idea.

Further Points to Consider

  • Keep up to date with the latest news and market trends for your business niche or sector. Regularly read publications and follow journalists who report on your business sector for all the latest insights that you may find interesting or helpful.
  • If you can attend networking meetings with professionals in the same industry or who work in a complementary industry to yours, then you may well be able to share market research results and industry knowledge that others have already conducted. You may be able to join forces with another business and pool your resources to conduct a much larger market research project that will benefit the both of you.
  • Networking can also introduce you to industry experts and seasoned professionals that can offer you great resources and information when you are first starting out. Many business veterans have written books or journals, analysed and published their market research results and finding that you may find very useful, so you can often pick up free or discounted copies of their work to help you even further.
  • To have a chance of making your own market research valid, you must try to survey at least 500 people to get a really good cross section of results. Even if your new venture is a start-up company, the aspect of conducting good market research should not be dismissed. Using your findings to help you with promotional and marketing campaigns can really give your product or service the boost that is required.

Of course, you don't have to do every single interview or survey personally! You can hire virtual staff to run the market research for you once you have planned out and finalised your methods. Capital Office can help you with this with our Virtual Office service. For more information about how we can help you build your business contact us today for a friendly chat.

July 2, 2014
May 5, 2021

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How to close a Limited Company

There are always plenty reasons behind closing a limited company. Whatever the reason for closing down a limited company, you must follow certain things.

There are always plenty of valid reasons behind needing to closing a limited company. Whatever the reason for closing down your limited company, there are certain processes that you need to follow to complete this:

Dormant Company

Rather than closing your company completely, you may want to keep your company open and registered but physically stop trading for a period of time. If this is the case then making your Limited Company dormant instead of closing it down completely would be your best option.Making your company Dormant can also be more cost effective when compared to closing a company down completely. You can make a company Dormant for around £100, so if you simply want to take some time out and pause your trading activity for any length of time, then this could be your better option. Contact us if you need help. We will be happy to give you some free advice.Dormant Company info: https://www.companieshouse.gov.uk/about/pdf/gba10.pdfOf course when you make a company Dormant it is important to make your clients and trade partners fully aware of your situation and ensure that any existing agreements you have with your clients or customers are properly finished before you pause your trading activities.There are also tax implications involved with making your company dormant. You will need an accountant to help prepare your final accounts to ensure all tax owed, including corporation tax, is fully paid up. You will also need to close any bank accounts that are linked to the dormant company.

Limited Company Liquidation

If you don't want to make your company dormant and are sure that you want to close you Limited Company down completely, then you will need to be aware of any debts outstanding and clear them if you can. If there are any debts still outstanding the liquidation process can take a lot longer and can be more involved. We would highly recommend speaking with us or to a professional accountant to ensure that you are fully aware of your responsibilities and obligations. If there are unpaid debts outstanding the company will be forced to go into Liquidation. You can read more information on Insolvency here.

What next?

If you are in a good financial position where your Limited Company has no debts outstanding, or can meet its obligations, then the closing procedure is fairly simple and straightforward. You will need to choose a date for when the company should stop trading. On this date it is important that no more transactions are carried out and that any creditors have been fully paid.HMRC will also need to be notified of your closure and be given a final set of accounts including all the transactions up to the closure point. Also you must remember to cancel your VAT registration if your company is VAT registered.A final payroll will need to be completed and P45`s issued for your staff and yourself. A P35 Employer Annual Return will also have to be filled with HMRC.Once your company has ceased trading for three months, you can make an application to Companies House to get your company dissolved via the DS01 form.If there are no objections to your Limited Company being closed, it will be formally given the go ahead and will be removed from the register of companies that is held on record at Companies House. Your Virtual Office London provides leading Company Formation services including advice on trading, closing down companies and company accounting. We also provide leading supplementary services such as mail forwarding in London and Registered Office address for your Company. If you need help or advice don't hesitate to get in touch with us today.

June 30, 2014
May 5, 2021

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Why is a Registered office for sole directors and not for a sole trader?

The registered office service is also useful if you have a sole director company registered at Companies House, not if you’re a sole trader. Find out why.

A registered office address is a service that is designed for private Ltd Companies and Limited Liability Partnerships. The registered office service is also useful if you have a sole director company registered at Companies House. Our registered office address service is a useful tool to have and is designed to replace the directors private residential address details and protect it from public display via Companies House while providing a premium business address.This is different to a sole trader. A sole trader is not a registered company and does not need a registered office address as they will not be listed on the Companies House public records.

I am a sole trader, so why can't I use your registered office in London?

  • Sole Traders are not legally required to register their business at Companies House.
  • You will not receive any post from Companies House so again a registered office address is not needed.
  • There is no public register for sole traders at Companies house so your address is off record.
  • HMRC will send you post, but this would be to your usual business address (this is not searchable via Companies House)

What mailing services can I use as a Sole Trader?

If you are a sole trader then we would strongly recommend that you use our mail forwarding in London service. This is a great service for businesses who wish to present a prestigious London address as their main trading address. You can read more on the benefits of our mail forwarding service here. As the name suggests, we are able to forward all the post that comes in for your business to an address of your choice.This is an excellent service for businesses as it helps protect your residential address and gives the impression you are a well established business through having a prestigious London address for your business correspondence.

Why use us?

www.yourvirtualofficelondon.co.uk are leaders in Virtual Office & Company Formation Services. Our services have been tried and tested over our many years of expert provision, and they can really help to benefit a variety of businesses from startups to SME's.If you are unsure of what you need please do get in touch with our knowledgeable and experienced customer service team who are on hand ready to take your call. Our fully trained London based staff will be happy to talk you through your options.

June 25, 2014
May 5, 2021

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What is a Directors service address? How can it help me?

A directors service address for example is for directors of a Limited Company who would prefer to keep it private by not having it listed at Companies House.

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.

June 24, 2014
May 5, 2021

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How many shares should i issue when forming a Limited Company with a business partner?

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.

June 24, 2014
May 5, 2021

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Limited Company or sole trader the differences explained

Not sure what to do? Registering as a Limited Company can be more beneficial with tax advantages when compared to being a Sole Trader? Find out in this article.

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.

June 23, 2014
May 5, 2021

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Limited Company Corporation tax dates, deadlines and requirements.

HMRC will consider your limited company to be ‘active’ for Corporation Tax purposes when you are actually trading for business activities and receiving income.

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.

June 23, 2014
May 5, 2021

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What Are Second Filings When Forming a Limited Company? | VOL

File a second filing of a document previously delivered (RP04). This form should be used to notify Companies House of a second filing during registration.

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.

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