Blog

Seeing as though I have dated not one, but two engineers, and I am constantly by engineers, I seem to have become the authority on this topic. My site stats agree that this content – strange as it may be – attracts substantial traffic. So here it is: why not to date an engineer part two. also, find out about direct line group.As much as I hate to generalise, and agree that there are surely many engineers out there who don’t fit the mold, I have picked up certain patterns that should be considered before getting yourself involved with an engineer guy.

YOU WILL NOT GET MORE OF HIS TIME – SO GET OVER IT

Whether your engineer boyfriend is a student, a graduate or senior-level engineer, our workload tends to border on ridiculous. He will spend more time with his classmates and colleagues than with you. One of the engineers I worked with and I spent so much time together at work that I knew his wife’s weekly schedule and reminded him a couple of times that he needed to be home early that day to babysit as his wife had book club. Another graduate engineer at work recently got married and brought his young wife out to the little mining town we lived in. She found it really difficult to adjust to a new home and was always frustrated that her new husband consistently was at the plant late into the night.Rest assured though – when your engineer boyfriend says he’s at work, he really is at work! And he is busy making a ton of money which you will enjoy spending. Sacrifices.

HE WILL NEVER BE THE LIFE OF A PARTY – SO GET OVER IT

Engineers are sensitive creatures underneath that tough exterior. They are genuine without being simple and smart without being arrogant. What they will never be is the social butterfly that you want them to be. If they are anything like my ex, they will be reserved and even shy in social situations. They feel most comfortable around family and familiar friends, and will sometimes even close down if forced to make conversation with someone new. If having a cool, popular and outgoing partner is what you crave, date a guy who studied commerce.What has worked for me though, is to ply them with a substantial amount of alcohol before introducing them to people. They tend to get on quite well once mildly inebriated.

ENGINEERS ARE NESTERS – AND YOU MAY NOT LIKE THEIR PARTICULAR NESTING HABITS – BUT GET OVER IT

An engineer’s home is his safe place and they spend a lot of time making it just right and comfortable for their needs. I have NEVER seen straight men take so much care and pride in their homes. I might add that not all of them are particularly neat nesters! My first engineer boyfriend was positively a mess! The random stuff he had accumulated over years was stored everywhere – including a massive set of couches which took up most of his room and served no apparent purpose. Nevertheless, what the engineers I know have in common is that they detest anyone trying to rearrange their homes. My first engineer boyfriend would not let me (a neat freak) throw anything out and the second – who I somehow convinced to allow me to redecorate his bedroom – held this against me until the day we broke up. He happened to be an even bigger neat-freak than I was and thought I was a mess. (the irony)Your engineer boyfriend will have to trust you completely and be confident that you know them and their taste before you can attempt to rearrange their homes. Tread with care ladies – you have been warned.

THEIR DRESS-CODE IS BIZARRE – SO GET OVER IT

You will notice that your engineer boyfriend has a certain dress-code which he will stick to most days. This may be the standard t-shirt and jeans/ shorts as a student, which may transform into a golf-shirt and jeans/ shorts once he graduates. In short, engineers are most comfortable in their casual clothes and you may have to even put up with awful sock/sandals combinations which will make most women cringe (despite their expansive shoe-collections – don’t bother trying to figure this one out). Unfortunately, attire is not a high priority to engineers as they are practical beings who don’t see a practical reason to dress better than they do.When engineers go out to a formal function, they realise that they need to dress up to conform to social expectations. Although this is a great start, their execution very often misses the mark entirely. Ladies, be warned, you will have to guide them in this regard. DO NOT UNDER ANY CIRCUMSTANCES let them dress themselves. Oversee and direct this process as far as you can. They will likely appreciate the guidance in this area. Basics such as dressing for your height and body shape, or choosing appropriate and fashionable ties (from this decade) – things that you will take for granted – will need to be supervised. You don’t want to end up at the races dressed in a classy, neutral, chiffon dress alongside your engineer boyfriend who is wearing a shiny, silver suit (which, to make matters worse, he is swimming in).Yes, yes this actually happened.

SO SHOULD YOU DATE HIM?

Despite all of the above, the engineers I have dated/ worked with have been great boyfriends. They are sincere and caring and if you can put up with the hours and bad dress sense, I’d say go for it! Like most men, they will not understand you, will try and solve all your problems when all you want to do is vent a bit, and like any of us will have to make their own mistakes in relationships before they get it right. However, nothing in your house will ever remain broken for more than a week, you will have personalised and trustworthy advice when it comes to cars, cameras, laptops and just about any other mechanical/ electronic purchases and they will be there for you when you are in trouble.Good luck!

Whether you have physical premises or are an online business, offering ways for customers to contact you is always important. The more options you offer, the happier customers will be but the greatest number will still choose to contact you via the telephone. But answering these calls isn’t always the easier thing, and important or valuable calls can often be missed.You may have to work remotely for a time where accessing a phone network is impossible, or you may spend a large amount of your time in business meetings, conferences and demonstrations where it would be inconvenient for you to take your calls. This is why Capital Office offer a trustworthy and convenient solution for you in our personalised call answering service.

Professional service

For many businesses, being able to have their calls answered promptly in a professional manner is a huge benefit for their reputation and their bottom line. When you are a small business or perhaps have a busy workplace where phone calls are difficult to take, having someone away from the premises to answer your calls can be a crucial part of your customer service plan. Therefore, we created our call answering service for just this reason.Our call answering service offers unlimited call volumes and the calls are answered in your own business’s name. This means customers don’t realise they are ringing a call answering service but think they are speaking to the company receptionist or your personal secretary.All the conversations are kept private and run through a secure system so there’s no concern about customers divulging personal or financial data. Sales calls can be taken and any important calls forwarded to a mobile number of your choice to continue the conversion yourself.The team answering your calls are based in our London offices and absolutely no outsourcing is used. Outside of business hours there is a customised voice mail service available to take your calls 24 hours a day and you can choose your own greeting for this as well as how your calls are answered. Once a call has been answered, it can also be forwarded to your business phone system and there is a private pin protected message service so that only you and your chosen employees can access messages.

Why use the service

As well as offering the professional call handling service that every business needs, our call answering service also screens calls to save you precious time. Sales calls from other businesses are a part of every day life and may be of some interest to you, but often come at the wrong time. Sometimes these calls may not be ones that you are interested in taking. Using our call service allows you to have these calls screened and either forwarded or rearranged as required.All of our call handlers are native English speakers and will have enough basic background information about your business to be able to conduct a polite and professional conversation with your callers. This means that our service offers the highest standard of professionalism and practicality while saving you the cost of having a full-time permanent secretary or receptionist working on your premises.

Setting up the service

Setting up your call answering service couldn't be simpler! You can set up the service by completing the online form. We have different packages available to suit your requirements, ranging from one to twelve month deals so you can use the service for as long as you require.The set up process takes around 5 minutes and once payment is complete, your personalised call answering service starts within one working day. We will also collect information about your business and all the relevant forwarding data we need. A unique 0207 or 0203 number will be allocated for you to issue to your clients and to use on your contact media, and we will give you your message pin and other essential data immediately.

Full Call Answering Features

• Unlimited Volume of Calls
• No Hidden Call charges
• Calls taken in your name
• Choose your own greeting
• Lowest Prices Guaranteed
• No Setup Fees
• Private & Confidential
• Instant Activation – Start Using Today
• Completely private and secure for all clients
• Unique 0207 or 0203 London Number
• Professional Call Handling
• Forward Calls to your mobile
• Caller questions answered
• Sales calls taken
• London Based PA
• Can take number with you
• Native English Speakers
• Calls Screened
• Award Winning Service
• Real London based team – no outsourcing
• Messages forwarded onto you
• Calls routed live to your phone after PA handling
• 24 Hours customised voice mail
• Private Pin Protected Messages

A new study by FreeAgent has shown that around 20% or one-fifth of micro businesses have no idea about the government’s Making Tax Digital scheme, despite the government publishing further information about the plan at the end of January.

Lack of information

According to the research, some 84% of respondents thought that the government had not provided enough information about either the digital tax plans or how this new legislation would affect business owners around the UK. But on the positive side, 41% said they were aware of the plans and that they felt positive about them. A further 27% thought that the legislation would make running a business easier than before.

Changing tax system

According to Ed Molyneux, CEO and co-founder of FreeAgent, the Making Tax Digital scheme will see one of the biggest changes to the UK’s tax system for generations. Businesses could also see the start of the changes as early as next year.

Yet despite positive responses from some micro-businesses, it is also clear that others have little idea about what the scheme involves. And even those who are aware of it don’t fully understand how it will affect their business. He went on to add that the Making Tax Digital scheme is a great way for businesses to gain clarity over their financial position as well as being better equipped to calculate and pay tax bills.

For the micro-businesses surveyed who did know about the scheme, there was generally a positive attitude to the changes with only a small number saying that they felt the changes would make things harder. But FreeAgent also urges the government to keep these businesses up to date with the changes and ensure they were fully aware when the changes are implemented.

The scheme

The scheme was announced in the March Budget in 2015 but the 2017 Budget saw the government give small businesses another year to institute the changes. It will involve keeping digital records and sending HMRC quarterly updates with every business having their own personalised digital tax account.

What does Making Tax Digital for Business really mean?

For SMEs, entrepreneurs and sole traders, there are a few major changes that they need to be aware of that will be introduced over the next few years. Here we take a look at the most relevant changes that are planned to happen:

The end of annual tax returns

The Making Tax Digital (MTD) programme is designed to make the reporting of your business’s financial data to HMRC more straightforward through eliminating the need for an annual tax return. Instead, you will be required to send your financial updates to HMRC digitally via your online tax account on a quarterly basis. Rather than being asked to complete a new tax return four times per year, you will only need to submit financial data online without the need for any complicated paper form filling.

MTD has already begun

The initial consultation period for Making Tax Digital has already ended and we can expect to see the new legislation being announced at some point this year. The new MTD requirements will be operated through your existing digital tax account that you will already have with HMRC.

The MTD pilot scheme has already started with volunteers who have signed up to test the system. We can expect changes and tweaks to the system as their feedback is received. Hopefully this will make the system as user-friendly as possible to take into account those with minimal computer skills.

From July to December 2017, the online digital tax accounts will be able to give taxpayers an overview of their standing and what tax they will be liable for.

In 2018 it is expected that all businesses, landlords and self-employed people that have a turnover above the current VAT registration threshold will be able to start updating HMRC for income tax and NI on a quarterly basis using simple accounting software.

If the roll out continues to be successful, it is then hoped that in 2019 all businesses with a turnover falling between the current minimum threshold and the VAT registration threshold will also start to update HMRC on a quarterly basis too. This will also be done through their accounting software and submitted online.

Possible Software Issues

While it will be necessary to keep HMRC updated with your business finances digitally, HMRC have so far been pretty vague about the details. They will expect you to use a form of accounting software to submit your figures and have said that using spreadsheets is fine as long as the spreadsheet package you use will be able to connect to your digital tax account. This may be possible through some sort of software, but looking ahead it may be easier to simply use a digital accounting software package to compile your figures rather than rely on spreadsheets alone.

Real-Time Tax Information

By going digital, HMRC say that your business tax position will be reported to you in ‘as close to real-time as possible’. This will help to avoid you having to wait until the end of the year before knowing exactly how much tax you have to pay. This can help you to budget and set aside money over the year to pay your tax liabilities without the worry of being landed with a huge tax bill at the end of the year.

At the moment, the threshold for meeting the MTD requirements currently stands at £10,000. However, for those who are exempt because their annual sales fall below this figure, there is an option for them to opt in if they so choose. There are other groups that will be exempt from MTD and these will include charities and those deemed to be 'digitally excluded' for whatever reason.

While many of the businesses around the country have been studying the negative side effects of the Brexit vote and the looming lengthy discussions around the separation process, some have noticed a positive side effect. Foreign spending in British shops has increased since the vote, as buyers make the most of the currency fluctuations.

Surprising numbers

Foreign card spending volumes saw a 3.4% increase in the month after the Brexit vote was announced and non-UK card spending is particular strong online, with a growth in the volume of 5.3% while the average transaction value has increased by almost 9%. Even offline bricks and mortar stores saw an increase of around 3% after the vote.Worldpay’s UK Managing Director Dave Hobday said that the rich mix of large and independent retailers has always meant that foreign shoppers were attracted to the UK market and the recent fluctuations in the currency have also made the prospect of ‘buying British’ even more enticing.The data has given a boost to the retail sector having been through a lengthy period of uncertainty and change. This boost in overseas trade has also encourages retailers to seriously consider their e-commerce strategies and how this can let them fully make the most of the international markets now available and taking a keen interest in UK business.

More visitors

The data goes on to show that is isn’t just the volume of non-UK card transactions that have been on the rise – visitors are also spending more when they come to the UK to shop and spend money. An 8.8% increase in basket value just after the Brexit vote announcement has now been bettered by an 11% rise in in-store transactions for non-UK cards since the vote, rising from an average of £39.88 to £44.28 since the UK decided to leave the EU.The figures from online retailers show a similar trend with the Worldpay data showing an average transaction of £126.79, an increase of 10.9% on the previous year and 8.6% in the period before the June referendum.

Spreading the good news

While the biggest boost is unsurprisingly to London based businesses, the good news is that the boost has also spread around other areas of the UK too. Non-UK card transactions in the capital had increased by 4.6% and the average value had increased by 14% after the Brexit vote.Around the UK, growth has also been seen. In the Midlands, the figures were 7.4% and 5.7% respectively while the Yorkshire area saw a large 7.2% increase. Figures were more modest in Wales and Scotland did see a slight decrease in the same period.This shows that while tourist hot-spots such as London have been the biggest beneficiary of the change, all areas of the country are seeing some increase in non-UK based customers. It has prompted many businesses to look to continue their innovation and investment with the aim of attracting and getting more customers from outside the country.

Conclusion

While many businesses continue to be concerned about the impact that leaving the EU will have on their company, it seems that non-UK shoppers are already embracing everything the UK has to offer and continue to show no signs that the decision to leave the EU has in any way put them off from spending their cash here.

For someone just starting out in business and wanting to officially register their business with Companies House, there are a few regulatory requirements that you need to apply to your business. One of these requirements is allocating an appropriate SIC code. Every registered UK company must report a SIC code. But what exactly is a SIC code and how does it apply to your business?Firstly, the term SIC code stands for 'Standard Industrial Code'. While SIC codes are important for your business, they are still quite misunderstood by many new business owners.Basically your SIC code is a way to describe and categorise what your business does. It is a system that Companies House use to provide information about the type of business you have and to give a general overview of your business activities. The classification of each company is available for anyone to view on the public record. You will need to know your SIC code for when you submit your Confirmation Statement each year.

SIC Codes Explained

Depending on what your particular business activities are, your company will fall into a certain category. Companies House keep a comprehensive list of possible types of businesses that operate in the UK which are arranged together under similar trade classifications. There are now approaching 100 different SIC code categories to choose from. Your SIC code will be the one that matches or is the closest type of business sector you operate in.Each sector or trade group has a SIC code applied to it, but more detailed classifications are allocated within each group according to their specialisation. So for example, trade group I refers to Transport, Storage and Communication businesses. Obviously this can cover a very wide variety of different businesses under this umbrella, so further individual codes are then assigned according to what they actually do.Each and every registered UK company selects one or more SIC codes that express the nature of their business from an official list of SIC codes provided by Companies House.Lets say you run a heavy haulage freight transport company. Your company would fall under category 49.4 that covers Freight transport by road and removal services. This group includes all land-based freight transport activities other than rail transport. Because your business specifically uses the road network to operate, you would then come under SIC category 49.41 Freight transport by road. This class includes all freight transport operations by road including:

• logging haulage
• stock haulage
• refrigerated haulage
• heavy haulage
• bulk haulage, including haulage in tanker trucks including milk collection at farms
• haulage of automobiles
• transport of waste and waste materials, without collection or disposal
• renting of trucks with driver
• freight transport by man or animal-drawn vehicles

When do I need a SIC code?

SIC codes are something that as a business owner you don't necessarily think about or even have to deal with on a day to day basis. The fact that you actually need to have one is only realised when you are submitting your Confirmation Statement to Companies House when there are any changes to your SIC code(s) that need reporting. A SIC code is also needed to form a new company and to be able to allow you to successfully complete your filing process for your first annual Confirmation Statement should your business undergo any changes.

How do I discover my business's SIC code?

In order to find the correct SIC code to suit your business, you should use the Companies House official SIC code list. You will first need to find out what your actual trade description is before you can find the right SIC code category on the list. There is a condensed PDF version of the SIC code list here.The SIC Code list is divided into different trade groups, and while you can search for your code by entering your trade description, it may take a little bit of digging around to find the most relevant match to suit your business activities. This can be quite difficult to define if you work in a particularly obscure sector, so it may take a while to find the closest possible match if there isn't an exact category that fits.Some of the trade classification categories are very specific and will be quite obvious by its very description,‘Striking of coins’, for example. But other categories are a bit more vague and can cover quite a variety of different activities, 'Other food services', for example would be a category to choose if you cannot find an exact match for your food-related business activities.

Changes to the SIC Code System

The list of SIC codes is ever growing and changing because it aims to be the most comprehensive list of classifications as possible. The most recent major changes came about in January 2008, where a 2007 version of the code was introduced. This means that all 2007 codes have five digits, while the older 2003 revised codes only had four. All Annual Returns made since 1 October 2011 have required a 2007 version of the code.Whether SIC codes will go under any further changes in future is unknown, but as more diverse industry sectors evolve and develop, it is highly likely that SIC codes will undergo some more changes in years to come. In fact, since the original list was created back in 1948, there have been revisions published in 1958, 1968, 1980, 1992, 1997, 2003, and 2007.

How many SIC codes does my company need?

In most cases a business will only need one single SIC code to cover their activities. This may be one that best describes the nature of the business, especially if it involves dealing with just one product or service, such as business accounting or carpet manufacturing etc.There is an option for a company to choose up to four SIC codes should they need to, so if your particular business is quite complex in nature, or you offer varied services that cross different sectors, then a single SIC code will not be able to fully describe what your company does. In this case you can choose more than one code to cover all you bases.

Do I need a SIC code to form a new Company?

As of the 30th June 2016, all new businesses need at least one SIC code to be able to form a company. The SIC code should be chosen that best describes the planned business activities of the new company. Without at least one or more valid SIC Codes, Companies House will reject your formation request. It would save you a lot of time and hassle to plan ahead and sort out your SIC code before you go through your company formation process.

Reporting your SIC Code

If you formed your company after 30th June 2016, your SIC codes need only be included in your Confirmation Statement if they have changed during the year since formation. It can be more common than you think for a change to happen. Should your company expand, change its business sector or offer a more diverse range of services that would require different SIC codes to explain its activities, then Companies House would need to be updated with this information.You will only have to report your SIC codes in your annual Confirmation Statement each year as and when they change. There is no need to report SIC code changes immediately – you can wait until your next annual Confirmation Statement to report them.

Attracting new clients or customers is an important part of growing and sustaining any business, so what can you do to earn the trust of prospective and new customers to convince them to take a chance on you rather than one of your competitors? The answer to this is to obtain an official document from Companies House called a Certificate of Good Standing.A Certificate of Good Standing, otherwise know as a Certificate of Existence, is simply a certificate that demonstrates to your potential new clients and customers that you are a trustworthy business and that you are up to date with all of your legal requirements in the eyes of the law.

Who can get a certificate?

A Certificate of Good Standing can only be ordered for a company that has already been incorporated. It can be requested by both public and private limited companies. Your company will only be granted a certificate if you satisfy these requirements:

• Your company must be up to date with all of your legal filings and be in good standing with Companies House.
• Public limited companies must have a registered secretary and at least two directors, one of whom must be a ‘natural person’.
• Private limited companies must have at least one director who is a ‘natural person’.

If your business satisfies these requirements, then you are able to request a certificate for your company. You can have the certificate delivered to you or you can arrange for collection yourself.

How much does a certificate cost?

You can apply for your certificate through Companies House. There are two options available to you:

• A standard order will cost you just £15.00 and usually takes around four working days to process. Your certificate will be posted out to your Registered Office Address.
• A same day order will get your certificate issued much quicker, but comes in at £50.00. The same day service allows you to access and instant PDF copy of your certificate should you need it, but generally speaking a paper certificate actually carries much more gravitas because these are the only copies that carry an actual signature from a Companies House representative.

What is listed on the certificate?

Your certificate will detail certain pieces of official information, depending on your requirements, but will usually include the following:

• The company name and registration number.
• The date of incorporation.
• The name of the company director(s).
• Some additional details about the directors, e.g. nationality.
• The name of the secretary (for a public business).
• The Registered Company Address.
• The company’s objects (if applicable).
• Statement of good standing.

The aim of the certificate is to confirm that the company is genuine and trustworthy. The good standing statement would be considered to be the most important piece of information on the certificate. The statement effectively certifies that your business has been in continuous existence since its incorporation date, and confirms that there is no action being taken against your company.

Is having a Certificate of Good Standing useful?

Having a certificate could prove useful to you, especially when you are dealing with other well-established organisations that may need some reassurance of your status before they would consider working with you. A certificate will also prove useful when opening a company bank account. It can also be used as an example of trust when trying to attract new investors into your business.For those looking to get a foothold in overseas business, a certificate can help to reassure overseas authorities that your business is genuine and up to date with all legal documentation and filing. You will generally need one if you wish to set up a foreign branch for your company abroad. However, if you plan to use your Certificate of Good Standing abroad, you will need to get it legalised with the Foreign and Commonwealth Office (FCO). Once legalised, your certificate will carry the same weight and status as it has in the UK. For these purposes, you will need to get a paper copy of your certificate. You cannot get a digital copy of your certificate legalised by the FCO because it doesn't carry an actual seal and signature from a Companies House official.

Can my request for a certificate be refused?

To be issued with a Certificate of Good Standing you will need to satisfy their requirements as listed above. You will be turned down for a certificate under the following circumstances:

• Your company has not supplied sufficient information to Companies House about the ownership or constitution.
• Your company is not up-to-date with its annual confirmation statement and annual accounts.
• Your company lacks at least one natural (human) director.

Something to also bear in mind is that Certificates of Good Standing are only valid for three months from the date of issue. After this time you may want to consider applying for a new one as many organisations and authorities will expect to see a more recent up-to-date certificate.Most registered companies operating in the UK may not have a particular need for a Certificate of Good Standing, however many will request one to satisfy themselves and any shareholders and investors in the business that the company is meeting its regulatory obligations. It can also help to give confidence to clients, customers and suppliers that you run a trustworthy and reliable company.

If you go back ten or fifteen years or so, everyone used to talk about being their own boss, shedding the 9-5 lifestyle and answering to no-one. And sure, there were people who did just this, but sadly they were the minority. Fast forward to 2017 and there are now huge numbers of people starting their own business from home or setting up a small enterprise locally and becoming successful entrepreneurs. So why has entrepreneurship taken off so rapidly in the UK?

Helping hand

When a person is looking to make a big change in their life and go self-employed, one of the things they need is a helping hand. Whether this is in the form of inspiration or encouragement from someone famous, or comes in the form of actual monetary assistance from the government depends on the individual and their particular circumstances, but here in the UK, there seems to be plenty of both.One system in place from the government is called the Help to Grow scheme. This pledged £1 billion to help companies cut red tape and find the funding they need to get started. The idea is that the small and medium sized businesses are the heart of the UK economy and also boost exports that make the government more money. So they wanted to provide a boost to start these small businesses and schemes such as Funding for Lending has done just that.

Rise in entrepreneurs

There’s no doubt that the numbers leading by example have also had a big impact on others who want to go down the road to entrepreneurship but were a little hesitant or unsure. There has been a steady rise in the number of companies being registered with Companies House and this shows that the urge for more of us to have our own business is getting stronger:2011 – 440,0002012 – 482,0002013 – 502,0682014 – 581,1732015 – 609,100

The urge to be entrepreneurs

According to surveys conducted at the end of 2016 by the TUC, around 50% of British people aged 25-34 are considering starting their own business in 2017 and one of the reasons for this is the wealth of online opportunities available. Many of these will take a hobby and create a business from it.An analysis of official figures by the TUC to mark National Work From Home Day reveals that nearly a quarter of a million (241,000) more people work from home than a decade ago.The most popular areas for potential new company formations were in cooking (19%), baking (18%), photography (18%) and sports (16%). Shows such as the Great British Bake Off and The Apprentice are often cited as inspiring people to get out there and find a niche that suits their interests and passions. Co-working spaces also allow people to have a small dedicated working space without the major investment of a dedicated premises but also not taking over part of their own home.Businesses that live entirely online are also a huge growth area as these don’t require the same commitments for physical premises, lots of technical equipment or associated costs and overheads. According to figures from the TUC, there are now around 1.5 million people working from home, a rise of a fifth in the last ten years. Factors such as high speed internet connections and cloud based systems have made this possible, alongside the growth of freelance industries where businesses hire someone to do a specific job rather than employ them full-time.

Inspiring figures

As well as popular reality TV shows, many real world people offer inspiration to become entrepreneurs and show what can be done with dedication and hard work, such as Richard Branson and James Dyson. From former famous footballers who have become career management business owners and restauranteurs to musicians making cheese (Alex James of Blur fame), there are lots of examples of people famous for doing or being one thing who have turned their skills to form a completely new successful business.Larger than life rap star Will.i.Am is a perfect example – he has built on a successful music career to become an entrepreneur. He has designed his own digital camera as well as an iPhone case that enhances the smartphone’s camera function, making it better for sharing images across social media. There are many more examples out there of artist-turned-entrepreneur, but far too many to list here.

Conclusion

It is easier than ever to start your own company – you can use a company formation service, such as ours, to create the company and ensure everything is done correctly. This ensures that you fulfil all the legal requirements and means that more people with that entrepreneurial spirit will be able to take the first steps to fulfilling their dream of owning their own business.

Because setting up a company can be such a quick and painless process, it is easy to forget that there is more to it than just registering your business name with Companies House. Whether you do the job yourself or use a company formation service, once the business is established, there are other responsibilities that the company director has on a regular basis. Fail to comply with these and you be facing an unpleasant encounter with the business bogeyman – HMRC.

Company formation basics

When you decide to start a business, then you have different formats to choose from, depending on the nature of the business. For some, setting up as a sole trader is the ideal solution but for many businesses, being formed as a limited company is the best option. There is a process to follow to set up a company that involves both Companies House and HMRC and a series of information that is required to create the company.There are some rules about the name you can give your company to start with – Companies House website has a page that tells you all about this here and includes things like not using the word ‘royal’ or ‘queen’ as it hints at a connection with the royal family. Once you have a name that is acceptable, you need at least one director and one shareholder. All of this information is submitted to Companies House and you can do this yourself or simplify the process by using a company formation service.

Annual responsibilities

Once the company is set up and you have a Certificate to prove it, then that stage of the process is complete. But there are also a number of other responsibilities that business owners have during the course of the year. Firstly, there are the annual tasks that need to be done.Each year a Confirmation Statement needs to be filed with Companies House. This is an overview of the company including the shareholders and directors and confirms that all the information held on the business is correct. It needs to be done once a year and can be done online or on paper, though the latter is more expensive.Annual accounts are required to be filed with Companies House, although this only needs to be an abbreviated version. HMRC will require a full set of accounts including profit and loss accounts and a director’s report. These need to be filed separately as the two don’t pass papers between them. Along with this, form CT600 needs to be completed and this is usually done by the company’s accountant as it is quite a complicated form.Every company director must also complete an annual self-assessment to declare the income they have receive from any source including from the company. Any businesses that have staff are also required to report their annual employer returns, although most of this is now done through the PAYE system in real-time.

Quarterly responsibilities

Any business that earns more than the stated threshold must registered for VAT and it is important to remember that when you register, the accounts for the previous 12 months must be taken into account. Being VAT registered means you need to complete a quarterly return on your VAT which can be done online. It is due by the end of the month following the end of the quarter.While you only file one form, both HMRC and Companies House will fine you if you don’t complete this information so it is very important not to miss this.

In the last few years there has been a massive increase in the number of people who are becoming self-employed or starting their own small business. From freelance accountants and bookkeepers to odd job people and even fashion designers, more and more people are setting up on their own and for a great number of these people, this means setting up business from your home. But how can you ensure that your business remains professional and will be successful when you share your workplace with your living place?Lets take a look at some top tips and sound advice about running your own business from home and not letting it take over your whole home life.

Starting the business

The first step to having a home business is to know what you want to do. Planning is crucial to avoid vagueness and a sense of panic when work doesn’t start to arrive when you expect it to. Therefore, creating a business plan is something you should do before you give up your current job or register yourself as self-employed. Questions you should ask yourself include:

• What can I do?What do I enjoy doing?Is there a market for this service or product?Can I make a living from it?How will I make and store this item pending sale?

People looking at a service based business have a few less considerations than those creating a product. For example, the self-employed accountant simply needs space for computer equipment, maybe some filing room but someone making handmade crafts needs room to store both the equipment and supplies to make the products and for the finished items themselves. So you need to assess what space you need and if you can take over enough of the house to do this when planning your business.A lot of people make good use of a spare room in their home, extend into their loft space or convert a cellar or garage into a storage area. You have to make sure that these environments are safe for storage or to work from.

Creating the business

Once you have an idea, know it is viable and there is an active demand or market for it then you can move onto the next step. Whether you simply register with HMRC as self-employed as a sole trader or form a company will depend on your plans. For example, a self-employed accountant might not plan to ever take on staff and only do the work that he or she can manage on their own. But the handmade crafts business may plan to eventually have employees making the products or have staff to handle packaging and distribution. So while being a sole trader might work for the former who never plans to expand, forming a limited company might be better for the second.When you work from home, this could mean giving out your private home address to everyone you do business with and this might not be a good idea. Therefore as part of forming your company, it might be worth investing in a registered office address service. This allows you to use an address, say in London, where all of your statutory business mail is sent. This address will go on all of your official documents and will be on the public register at Companies House for anyone researching your company.Once the company is formed you need to create an online presence for it. This means a combination of a website and social media accounts, such as Facebook and LinkedIn, that are for the business and will help start to make its existence known to the world. You can hire a web designer to build your website for you if you don’t feel confident doing the job yourself. You might also want to consider having a blog for your company as this increases your online exposure, helps your search engine rankings, and can drive new customers to your business.

Growing the business

As the business grows and takes up more of your time, you may start to outsource some of the tasks to other professionals or companies that specialise in certain aspects of running a business. One good example is a call handling or mail handling service, or a complete virtual office that can answer your calls and sort through your mail. This frees up your time to deal with other matters and means you only get the calls and mail that is important to you. Mail handling services can even scan mail and send the content to you via email, reducing the time between receiving it and you handling the contents.Other tasks you may want to outsource include your accounting and the writing of the blog. Freelance accountant paired with online bookkeeping software can make the process of submitting tax returns and other official documents much easier. And if you want to continue to grow your online presence, hiring a freelance writer to create blogs posts is ideal. Some offer virtual assistant services too where they can handle your social media awareness and marketing campaigns.

Take a break from it all

One of the most important things when working from home is that you take a break from it all on a regular basis and that you try to have an established working pattern. There’s always the temptation to do another 30 minutes after dinner because you work in one of your bedrooms and it is convenient to check emails or follow up on messages - but beware, this can lead to burnout! And because your home is also your place of work, it is important to take a break and get away from it all for a while.Remember, if you set up your outsourcing correctly, the business can continue to run without you for a week or two!

Every limited company needs to have at least one director as part of its company foundation along with at least one shareholder, though they can be the same person. There are certain responsibilities with being a company director and certain things you need to disclose to a public register. One of these is an address and this is where our directors service address service comes in.

Limited company basics

A director is just one essential part of the information required to create a limited company. There are a series of pieces of information that must be submitted to Companies House to create a new limited company. These are:

• The company name – this needs to comply with the rules regarding what you can and can’t call your company, available through Companies House websiteThe address for your company – this can be the business premises or a registered officeOne director and one shareholder – they can be same personMemorandum of association – agreed by all shareholders to create the companyStatement of capital – details of the shares of the company when it is formedArticles of association – company rules about how it will operateDetails of anyone with significant control – this is more than 25% of shares or voting rightsSIC code – standard industry code for the type of business you are creating

As well as registering the details above with Companies House, the company needs to let HMRC know that they will be paying Corporation Tax.Company formation can be done online or using a company formations service such as the one we offer. This means you simply provide the information and we go through all the necessary forms and procedures then provide the certificate to prove the company has been formed.

Being a company director

Being a company director means you will be listed on the public record as being associated with the company. Anyone can become a company director apart from if they have been disqualified under the articles of association, are an undischarged bankrupt, have been disqualified from such a role by court order or you are also the auditor for the company.A director doesn’t have to be a shareholder but they can be both – it depends on the individual and the company. There are also ways to add a director after the company has been formed as well as remove one if they no longer wish to have the role – although there must always be one director listed for the company.

Director’s service address

There are several pieces of information filed on the public record at Companies House for the director of the company. These include name, date of birth, residential and service address, occupation and nationality. This is where the director’s service address service comes in very handy. Your residential address is not a matter of public record but your service address is, and often people don’t want their home address to be available publicly. If you ran your business from home, I am sure you wouldn't appreciate the risk of cold-callers knocking on your door at all hours.Therefore, many company directors make use of our service to use our London address as their service address. The only stipulation with being a service address is that it can receive statutory mail and that it can be found – so it has to be a real 'bricks and mortar' address. Our Directors Service Address is a real address based in the heart of London.Our comprehensive service means we can collect your statutory mail on your behalf and forward it to an address of your choosing. It keeps your personal address from the public record and allows you to ensure no-one can find out where you live through this register.The additional benefit of the system is that you get to use a London address, with the prestige this gives a business. It doesn’t matter where a director lives or where the business is based – they can still use the London address as the director’s service address. It can even be used as the registered office address for the whole company if this works well for the business.

Conclusion

Keeping information such as your home address private is an important step for most people with concerns about security and identity fraud. By using a service address such as ours for your director’s address, you can have the security of keeping information private as well as the reassurance that your mail will be handled in a top quality manner and that you will receive it in a timely manner.