company formation

A company name check is essential when selecting a name for your proposed company. A thorough check will inform you of relevant legal restrictions, and allow you to work with them in the quest for the perfect name. You should perform a Company Name Check on every likely candidate for your proposed company name during the creative process, rather than just on the name you settle on. There is nothing worse than finding out that the name you have spent days choosing has already been taken or is otherwise restricted. Company Name Check — Summary In summary you should perform the following company name checks as a minimum: o Check that your proposed company name is available. o Ensure that the name is not a registered trade mark in relation to the goods or services you provide. o Ensure that the name is not being used by a competing business that operates in your area. 2. Has the company name already been taken? Check that your proposed company name is available for registration. No two co...

You are obliged to register for Value Added Tax (VAT) when your turnover (that is all the income - not just the profit) from your business exceeds £70,000 in any twelve-month period. You can register voluntarily before your turnover reaches the threshold or even if you never will. Some businesses do this just to look bigger than they are, or to reclaim VAT on a large initial equipment purchase. Also, if you do not have to charge VAT Registered because what you produce is zero-rated, then you may want to register in order to reclaim VAT on your purchases. You need to complete the form VAT 1 (plus VAT 2 for partnerships) which is available from HMRC. You can also find this online or ask an accountant to help. The process tends to average a couple of weeks though HMRC do sometimes have problems with their computer systems and it therefore takes longer. If you are taking on an existing company, you need to decide whether to take on their VAT registration number or register afresh. Only...

Many people wonder why should they start a private limited company, as such a venture would often involve additional expenses and administrative work. In the case of a sole proprietorship business, these expenses are very nominal. The deciding factor for forming such a company is your financial liability as an individual. In case you were the sole proprietor and the business flops for whatever reason, you alone are liable to clear all your debts. When you have large debts that you are unable to pay, you are exposed to the risk of personal bankruptcy. The formation of a Limited Company provides protection against such an eventuality. The advantages By itself, a li mited com pany being an entity is accountable fo r the actions it takes. The funds of such a company are totally detached from those of the people owning it. There can be one or additional sh areholders in private limited companies, though the owners can't sell the shares to the public, or trade them on the stock marke...

If you are someone who wants to make your mark as an entrepreneur in the UK, then you are in luck. A variety of options are available in the corporate world in the UK to cater to the preferences of different kinds of people. How To Open a LTD Company ? Now, for those who want to form a limited liability company, they have been greeted with many options under this category. Some of these options are limited by shares company, by guarantee, ltd. company with bearer shares, , limited liability partnership and public ltd. company. As a prospective businessman, you will have a particular business set up in your mind, which will go on to shape your company's identity. This business idea of yours will take you towards one of the options that are available to you. In your efforts to form a limited company, you will resort to one of the companies open for registration. This allows you to match fairly or completely with the nature of the company you have opted for. Regardless of the type of ...