UK Company Formations - Online Fast Simple Limited Company Formation

With 1 in 5 16-24 year olds out of work, more and more are looking to start their own companies. 44% of young people are looking to set up their own business with a significant number claiming the business can run off an internet connection alone.  According to research published by PC World Business, 46% aim to set up their own business in the next two years and almost a fifth of the 1,000 young people questioned are ready to go in the next two months.

What has caused this enterpreneurship? Is it the poor state of the economy and the endless struggle to get a job? Is it down to the TV programmes such as Dragons Den and the Apprentice inspiring young people? What do these young people believe is the biggest challenge?

More than 40% said lack of funding was the biggest hurdle and 29% simply didn’t know where to start.

My advice would be look to start with a small amount of money, you have saved or potentially borrowed from friends and family and then get tips on how to start your own business from the likes of www.businesslink.gov.uk

Source: http://www.managementtoday.co.uk/news/1089965/nearly-half-young-people-thirsty-entrepreneurship/

The economy is going through a tricky time at the moment. Consumer confidence is not particularly high. However, wouldn’t a second income be quite handy at the moment? This is not the point where I tell you can earn £5000 a day by sitting at home doing nothing, nor is it the point at which I say go and write a business plan and get a bank to lend you £5 million. This is the point at which I say “why not start a little business on the side to earn some extra cash”. Most people at one time or another have come up with a business idea. They have spotted something annoying or frustrating and thought how they could solve it. Why not take that idea one stage further. Write a business plan, have a look at how you are going to market yourself. See how much money you need to get going (you may not need much at all) and go from there. If you form a limited company then you are separating yourself and the business so you have limited liability. You do have certain responsibilities as a company director and you need to be aware of those. My key point however is, look at starting that business today, it doesn’t have to make you a millionaire overnight but it could give you and your family a little extra income and also give you something new and exciting to do.

Although online company formation is fast, there may be times when you need a company instantly without any delays. To facilitate this we carry shelf companies to speed your company formation along.

These are companies that have already been legally formed, but they have never traded nor engaged in any business transaction whatsoever. The name of the company can be changed to the name of your choice for an additional charge.

There is a premium for a shelf company, however they can be yours within minutes, and changed to your requirements with new directors appointed and the share capital changed.

If you need a really quick company formation a shelf company may be of use!

An annual return is a snapshot of specific company information on the return date of the company. This is a separate document to the annual accounts.

The annual return includes the following information:

If the company has share capital, the annual return must also contain:

There are 2 main reasons for becoming VAT registered. One is required and the other is voluntary.

You can see full details of when you have to register at: http://www.hmrc.gov.uk/vat/start/register/when-to-register.htm

After your company formation is completed, there are certain responsibilities the director(s) take on. The preparation and delivery of documents, on behalf of the company, to Companies House as and when required by the Companies Act is a core part of the Directors responsibilities. These include:

You can download a number the forms you will need to perform the above tasks from the our Forms Page.

Shareholders funds are the equity left in the business, which is owned by the shareholders as they in turn own the company and its assets. It is essentially all assets minus all liabilities, and is shown on the company’s balance sheet in their accounts.

It can be used as a guide in smaller companies to show if a profit has been realised, or if the business made a loss. It can be impacted by dividend payments, and revaluations of assets within the company however, but it is a good basic guide as to the financial performance of the business.

A private company must file its first accounts with 21 months of the date of incorporation. After that, they must be filed within 9 months of the company’s accounting reference date, as defined by Companies House.

If they are not filed within the appropriate amount of time, then penalties will be applied, these range from £150 to £1500 for a private company and from £750 to £7500 for a public company.

Easy, we have developed a company name checker that is connected to Companies House in real time. Making it easy to get your company formation sorted, you can check any number of names and variations for free!

Our checker also helps with the rules Companies House impose on some company names, checking it is in the right format and that some common ‘banned’ words are not included in the company name. When you form a company with us, a real person checks your application to ensure no common mistakes have been made, to give the best chance of your new company formation being accepted online.

Check your company name here!

If you are in doubt, we are here to help – Call Us on +(0) 131 564 0525 or email help@optimumformations.com