A dormant company is one that doesn’t trade and has no accounting transactions. Small companies may choose to buy a dormant company to protect the name, or for other reasons.
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Limited company or sole trader?
Key Guides
- Limited CompanyHow the company formation process works, which forms to fill in, and what your obligations are as a director.
- Limited Liability Partnership (LLP)Guide to forming an LLP, which limits your personal liability compared to a standard partnership.
- Dormant Limited CompanyHow to register a company name for use later, or to make a limited company dormant.
- Companies HouseWhat is Companies House, and what role does it fulfil in overseeing the UK’s companies?
- Choose a business nameThings to bear in mind when naming your company, including legal limitations.
- Limited Company dividendsWhat are dividends, how to account for them, and how are they taxed. What records need to be kept.
- Company Director responsibilitiesWhat are your legal and statutory legal obligations as a limited company director.
- Limited company advantagesAn overview of the benefits to setting up a limited company, regarded as a tax efficent structure.
- Registered officeWhy every limited company needs one, and how to inform Companies House if you move!
- Companies House FormsWhat information has to be submitted to the authorities, and when?
- Limited company contractorsAccess over 500 guides at Contract Eye if you’re thinking of IT contracting via a limited company.
Limited Company Guides
- Sole TraderSetting up as a sole trader (becoming self employed) is the hassle-free route to getting started in business.
- Sole Trader taxWhat taxes do you have to pay as a sole trader, and how register to pay income tax, VAT and NICs.
- PartnershipHow to start up in business as a partnership, for two or more people working together.
- Register as self employedThe steps you must take to ensure that you register your new business with HMRC.
- What is a sole trader?No-nonsense summary of what it means to go self employed.
- 5 things you must do when you go self-employedWhat you should do to register your new enterprise with HMRC, and safeguard your business.
- Partnership problemsThings to consider if you’re setting up a new business with a partner
Self Employed Guides
- Sole Trader, Limited Company, Partnership or LLP?A useful guide to the main business structures in the UK, written by legal specialists.
- Limited Company or Sole Trader?The pros and cons of setting up as a limited liability company, or as a sole trader.
- Stay self employed or go limited?The difference in tax, costs, paperwork, and your liability if it all goes wrong.
Which business structure is best for you?
All private companies must have at least one company director – but are there any legal restrictions on who can fill this position?
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By law, every company in the UK must have a registered office – this is a physical address in the UK where the company can receive documents from Companies House and other organisations.
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If you are running a limited company, chances are you may need to change your address, personnel or the company share structure. How do you report these changes to Companies House?
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All companies in the UK must submit an annual return form to Companies House each year – it provides a snapshot of general information about your company, including details of key personnel, the registered office, share capital and shareholdings.From 1st October 2009, new Form AR01 replaced the old Form 363a.
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If you are thinking of setting up a limited company, you should think carefully when choosing your company name. Alongside the business reasons for choosing an appropriate name, there are also a number of company naming rules you should be aware of.
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One of the main benefits of becoming self employed is the ease with which you can start up and run your new business.
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When setting up and running a company, you will have regular involvement with Companies House. In this article, we look at the main functions of Companies House and what obligations limited companies have.
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If you have set up in business via a limited company, there are a number of duties you will have – as well as legal and financial responsibilities – if you are a director of the company. This article provides an overview of what to expect as a company director.
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The main responsibilities of a company secretary are administrative in nature – ensuring documentation is completed and returned to Companies House and signing off company accounts(although only the directors have any legal responsibility for the contents). The exact role depends on the size of the company, with only occasional administrative tasks required by the typical small business.
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One of the first tasks you will have when starting up on your own will be to decide whether to set up a new limited company, or become a self-employed (as a sole trader or partnership). Here we look at some of the differences between the the most popular business structures.
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When you start your business one of the first decisions you will need to make is which legal structure to go for.
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There is not one business structure that suits every business and each structure has advantages and disadvantages. You should not make a decision lightly about the business medium that you will use and seeking advice from a solicitor and an accountant at this early stage might safe you money in the long term.
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When you set up a limited company, as company director, you will have certain statutory and legal responsibilities which you should be aware of.
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Many small businesses are partnerships. Yet circumstances and ambitions change, partners fall out or die. Without a good partnership agreement things can get acrimonious. Here’s how to protect yourself from the start.
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Here are some tips provided by Royal Mail for getting the right name for your small business:
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When setting up or running a UK company, the company directors and/or the company secretary (if appointed) are responsible for sending information to Companies House to ensure that the Registry is up-to-date. This may include changes in company details, or the submission of accounts.
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Naming your organisation is not often seen as the biggest issue when establishing a business, but it can cause rather a lot of issues, particularly if there is more than one individual involved in the process and there isn’t much of a process to developing a name.
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