Tips & Advice

Shares may exist with a company that are partly paid or unpaid. But, to avail the maximum benefits, you would have to convert it to fully paid shares. In order to completely transfer unpaid or partly paid shares, you would have to fill the J10 form. This stock transfer form requires the signatures of both the transferor and the transferee. This form serves as a contract which entitles the transferee to be liable for all future calls on the shares he holds.On signing the form, the terms are precisely understood and the stock owner would be liable to the calls and the company would not be held responsible in any way. The form needs to be filled in correctly and only then, it would get duly accepted by the company. Once the company accepts the J10 form, they would have to update the details about the transfer and the name of the transferee in their database. Here is a guide about how you are supposed to fill in the J10 form so that it gets accepted by the company and leaves no scope for any confusion or ambiguity.It is a mandate that you make use of bold letters and a Black pen, preferably a ballpoint pen. The steps towards filling each of the columns in the form are mentioned below.

a) Consideration

If it is a transaction where the stocks are being traded for money, enter the transaction amount. If there is no money involved, fill in as NIL.

b) Full Name of Undertaking

Enter the complete name of the company, of which shares are being traded.

c) Full Description of Security

To know more about the full description of the company, have a brief look into the certificate that is issued by the company. This would give you clear information about what you are supposed to fill in.

d) Number/Amount of Shares, Stock or Security, if any

The total number of stocks, units of stocks or the amount of stocks worth that are involved in the transaction have to be mentioned in words and should be spelled out in block letters too.

e) Transferor

All the details such as the name, present residing address etc. are to be mentioned in the details of the transferor column. Also, if it is a joint account, there is a need to mention all the stakeholder details. Note that the address to be mentioned is of the first stakeholder and it would be the primary address for future correspondence, if any.

f) Transferee

Similarly like transferor, the names of joint or individual to-be owners are to be mentioned. Also, the address where further communication and proceedings have to be corresponded to should be mentioned in the address column. Unlike the other standard share transfer forms, J10 requires both the parties to sign in the form.

g) Date

The date on which both the parties duly sign the form to initiate the deal should be mentioned.

h) Person Lodging the Certificate

In this column, details of the person who would lodge the J10 form with the company have to be mentioned. It is a good practice to have someone apart from the two parties involved to lodge the certificate.If you found this blog helpful you can read more insightful articles in our business news section, we post daily new articles and hand tips and tricks including guides for your business.

Looking to a perfect company name? Do you think it's perfect? You love it? Is it clear, intelligent and smart and funny enough to put your customers in stitches, right?Do not think that just because you like the name, the world will agree? It is a good idea to take at least a moment, if not three. And if you think about taking a dangerous step including jokes in your name, you will want to take four, five or six moments too!The first call you can make is with people you know - friends, family, staff and customers or potential friendships. The more people you ask, the more opinions you have, but chances are that if you ask people the more they will look at it differently as well, and it will become increasingly difficult to stay focused. So, you have to know what questions to ask and what you want out of this exercise.

Some of these issues related to the proposed name of the company that can help are:

• What does it sound like to them when said aloud?
• Do they understand what it means?
• Can they relate to it?
• Is it related to the product or service you are trying to sell?
• Do they want to deal with a company called that?

You need people to be honest and choose the ones that will tell you what they really think, not just something that you might want to hear. The earlier the better, because they can get rid of the names you have in mind and it means that you have more time to put into a new company which helps you from being pushed off the track.You can also seek help from professionals. The best consultations can guide the mind and help explain the options of the name, both good and bad - they can show that they have some form of testing on a variety of networks and even appoint a company to test different responses to each other.On the cheaper side of things, online forums can provide an official cost effective to provide independent feedback - especially if you can target the type of customers you want to attract. If you can find where your potential customers are, you can run a test with the name of your business.Many people delay, with the naming of the company because they do not know where to start or do not feel that they have the right spark. Write the words that come to mind when you think of your company on board or large sheets of paper. First, do not worry too much about how good they are - you can filter them down and try to combine different words together to create names later. Use a thesaurus to determine the word that means the same thing you've been thinking about.Ask friends, relatives or employees to do the same. If you let your imagination go wild, you can specify a long list of words and names to choose from. If you get too "wordy", then it's time to call for help!Looking at competitors and other companies can make you more successful in terms of inspiration.Again, if your budget can stretch to it, consider hiring an agency to provide innovative ideas and can develop specific name.Use one of the many tools available online to create a domain name for website inspiration. Even if you opt for the first name you thought of, looking for the potential impact of alternative inspiration can, for example, help you better understand why you like the name above all the others.If you are thinking of starting a new company talk to Your Virtual Office London first. We have helped countless business take the plunge and start on their own, we provide a range of services perfectly tailored to businesses and their owners. From mail forwarding address in London to call answering and registered office address. We even provide a directors service address for company directors wishing to protect their own address. What ever your need talk to us today, we are always happy to help.

Your business documents, stationery, and letters about your company's details are needed by law during certain pieces of correspondence. Here are some of the most important requirements to take into account:The full registered name of your company should be mentioned in all correspondence and documents, making it easier to read who exactly you are. This is extended as a legal requirement to:

• Notifications and corporate publications;
• All the business letters and forms to the company;
• Parcels, invoices, receipts, bills and currency, cheques, money, goods that intend to be signed on behalf of the company's revenue, such as letters of credit and bills;
• All of the company's websites. There`s no need to show your company name on each page, but it should be easy to read.Furthermore, you are required for the company website, orders, and letterheads. In addition to the registration of the company name, each of the following information is required:
• Where the company is registered in the United Kingdom - i.e. the UK, England and Wales, Northern Ireland, Scotland;
• The registration number of the company;
• The registered address of the Company.

The equivalent of paper stationery requirements goes for e-mail correspondence as well. The relevant information is provided by many companies who send e-mail regularly. It is helpful to have company details automatically added on the footer of the email, so that it shows the necessary information.

There are many important stationery issues to consider, which may be specific to your company:

• That which is not a public company should note the fact that it is a limited company;
• If, as stated in Section 833 of the Companies Act 2006 yours is an investment company then this will need to be described;
• If it is a charitable company, it should be noted if the words 'charity' or 'charitable' are not included.
• There is no requirement to display the names of each director of the company, but it is best to either include them all or none, so as not to confuse the issue. A director of the company must be named, if there is no signature in the text. The same applies to the name of each director.
• If you choose to display the company's capital, it must display the amount paid out of the share capital.

If a company does not meet the legal requirements, the company itself, and all the company's employees are liable to a fine. This fine can cost £1,000 and £100 thereafter if the offense continues.In addition to these general rules as described, there may be other legislation and regulations that apply to your company. This is the case, especially with companies that operate in financial industries, where they have to state that they have the authority and provisions to the relevant regulator (Financial Conduct Authority).All legal requirements and industry-specific best practices can be found with your own trade body. There are also lots of valuable sources of information about which documents and stationery to include for all types of company and these can be found by talking to your own regulator.You can read more interesting articles on company formation and business advice here.

Put simply like this, it is a modest enquiry. However, there are numerous mutual forms of ownership of shares in a new company, there`s no easy answer to the number of shares to be allocated.Given the amount of diverse issues to think about, you may reflect on the specific recommendations of the auditor or other expert consultant if you are unsure of the best way to proceed.When the company forms, one share at least must be distributed. This share is often allocated to someone, such as a sole director (also a shareholder). However, shares may be issued on behalf of the corporate body; you will always locate a company that owns shares in the business, for example. It is also likely that a solitary share can be allocated towards shareholders' equity - where two people or more hold shares equally.There are a lot of precise rules that relate to a PLC. They should have fifty thousand pounds in value of the issued investment. To highlight this, if the nominal value of the shares of a PLC is one pound, the business will be issuing fifty thousand shares for it to start to trade or borrow money. If the nominal value of one penny per share, then five million shares must be supplied so that a nominal fee of fifty thousand pounds to be allocated.For a lot of companies, there is no maximum amount of shares that they distribute. The Articles of Association state a maximum share capital that serves as the upper limit of shares that are allowed to be issued. If a certain number of shares would cause the company`s share capital to rise, then this limit can either be increased or taken away. Thereafter, the allotment can take place.Larger companies may need extra capital to invest in businesses that are willing to give more than small firms, although both shareholders and managers often create loans to companies that are of a similar level of investment.If you enjoyed this blog you can find out more in our insightful news section where we provide helpful posts on relevant business topics. Your Virtual Office London are leaders in virtual office and company formation services.

With over 2,700,000 companies incorporated in the UK, starting your own limited company is a great idea for one or more of the following reasons.

1. It is easy and quick to get going

It is very easy to start a company, and a lot of it can be done on the internet. There is no longer the hassle of waiting a long time for a company to send over and process a raft of documents: Now you can begin to form a company in a matter of hours.

2. A separate identity

A limited company has its own legal identity. As a result, the company can endure the passing of the owner, and it is conceivable that both the directors and shareholders can change over time. The existence of the company can only to be stopped by orders of the court.

3. Owners' Liabilities are Restricted

The shareholders of a company have limited liability for the amount of company debt. The extent of their responsibility is the amount paid for their shares, plus if they have outstanding shares of nil or those that are partly paid.

4. Authority and dignity

The founding of a private company points to that business being durable and that they are committed to the effective management and of being responsible.

5. The possibility of tax benefits.

Where partnerships will usually have to pay income tax, sole traders have to pay corporation tax, which is actually lower than that of income tax.As well as the payment of salaries to employees, companies can pay dividends to its shareholders. The director is a shareholder, so frequently choose to take the tax on the most effective combination of salary and dividends.The director retains the right to receive certain benefits without any government employee or employer national insurance contributions being payable. The repayments will be received as dividends which are likely to suffer less than in taxes than national insurance contributions. However, dividends will be subject to tax within the company.A range of tax allowances and expenses can be offset against the profits of the company, so you should use a tax professional or financial advice in light of your particular circumstances, and this area is no exception.Your Virtual Office London are leaders in company formation, mail forwarding address service and registered office address services. We also provide other important services for Limited Companies such as banking and accounting. What ever your need please do get in contact with the team today, we are always happy to discuss your requirements and then provide suitable advice.

Both memorandum of association and related products are required for an established company in the United Kingdom under the Companies Act, 2006. The Memorandum of Association is a document establishing the company and the terms of association setting out how the company is run, managed and owned. Therefore, the terms of the association will include the responsibilities and powers of the directors and the means by which members promote the control of the board of directors.

Memorandum of Association

The Memorandum confirms that subscribers want a company under the Companies Act and agree to become members of the company. In the case where a company is to have a capital stake, they are committed to getting at least one share each.The Memorandum of Association must have a prescribed form and must be authenticated by each subscriber. The MOU, which include a compliance statement, must be sent to the company along with the company's application and the product of the company's new association.

Articles of association

The articles of association set out how the company is run, managed and owned. Articles may place restrictions on the powers of the company - which may be useful if the shareholders want to be assured that the manager would not pursue a certain course of action, at least not with the approved by shareholders. By default, however, the Companies Act 2006 a company has unlimited power.In addition to the articles, which is a public document, shareholders may participate in a shareholders agreement to additional articles related to the operation, management and ownership of the company that they want to keep out of the public domain.

Articles of association – what needs to be included?

There is no prescribed form for the post although there are certain rules that need to be included in it. To support this, model articles for three of the most common types of company (private company limited by shares, private companies limited by guarantee and public companies) are defined in the company regulations 2008 and have been amended. The most up to date version is available on the companies House website. In addition, for the company's charities Charity Commission, a set of model articles can be used and firms adjust interest community has a version for companies interested in community contract.

The article should include the following:

• Responsibilities of the members;
• Directors' powers and duties;
• Directors meetings, voting, and other delegates;
• Keep records of the directors;
• Appoint and dismiss directors;
• Issuing shares;
• The different class sections;
• Shares;
• Share transfers;
• Dividends and other distributions to its members;
• The decision of the members of Congress and participants;
• Media and communications;
• Compensation insurance for directors.

Articles may be amended by a special resolution of the members. If a company changes its article other than to the pattern post a copy of the article must be submitted to the Company within 15 days of the change to consider. A copy of the resolution on the amendment must be submitted within 15 days after adoption. You do not need to tell the company why you are changing the terms of the association.Director and company secretary (if indicated) of a company should have a good working knowledge of the constitutional documents of the company, especially in terms of the association.As business manager of the company, they need to be comfortable that they are acting within the scope of the powers conferred by the article and following the processes and procedures or other reasonably well laid out there. It`s for the board to review the articles on a regular basis. As the company and its circumstances change, some existing provisions may no longer be useful or new regulations may be desirable. By reviewing and, where appropriate, update the articles of association the company can achieve the most appropriate balance between the needs of the directors and shareholders, the rights and powers of the former company executives while protecting the interests of its members.If you are looking to form a new company Your Virtual Office London can help. We have formed many thousands of companies and are experts in our field. Please call us today and we will be happy to discuss your individual requirements. We also provide other services for new Limited companies such as registered office address, mail forwarding service and directors service address.

Are you one of those that wake up every day wondering what to do to create a business with little capital investment? Despite what many may think, starting a business with low investment is more than possible; in fact it has become a reality. The dream of every entrepreneur is to create a profitable business from scratch with minimal investment, and this article shows that it is possible, but it is important first to know some basic secrets.Many successful businesses with little investment have managed to grow with little capital investment and achieved success. It is vital to bear in mind that to successfully launch a business, it is essential to have good advice at all times to avoid loss of time and money. No one can start a business completely blind, so it is essential to be fully informed in order to create the business of your dreams with a very low investment.

Successful businesses with little investment - Steps to follow:

Find the perfect idea, that is profitable and with a low investment. This is the challenge facing anyone interested in starting a business. To run a good business that generates some steady income and requires low investment is the dream of every entrepreneur.It should be emphasised that the priority in successful businesses with little investment is that there is more than satisfying economic needs and to have a steady economic growth. Before starting any type of profitable business or success, it is important to consider some aspects that should not be overlooked. But, what are the fundamental secrets you must know?Secret 1: Create a business plan: creating a business plan where you display and transmit to clients what market you're going into. Also, an estimated time of return on investment, what would be the investment, quality of products, staff, value proposition, as well as any other information about your business idea that may become a necessary step.Secret 2: Small Business: When starting a business, it is important to start with a small business or you'll never know how it will work. So avoid starting big and focus on what is necessary to get you started work. Do not forget to promote your business through discounts or offers of interest, as well as planning an effective advertising strategy.Secret 3: Self confidence is important to have a winning mentality, since an entrepreneur that is pessimistic, will not get the success they dreamed of when creating their business. The creation of any company involves vision, work, effort and enthusiasm, so if all these ingredients do not meet, your business is doomed to failure. It is important not to give up and not think about leaving early, and to remember that raising any business takes work and time.Taking these three points in will mean you can enjoy creating a successful business with a low investment. With these tips you can enhance and boost your business idea. Creating a successful business with little investment is certainly possible, but to be successful you have to do things right from the start, as well as maintaining the right kind of mindset. For business services an accountancy solutions, be sure to check out Your Virtual Office London today.

In this article we will solve some common scenarios with share certificates, which often cause confusion.

Which share certificates are required to be issued after the transfer of shares?

Firstly, it is a basic requirement that the transfer form (form J30) be completed by the current and, if necessary, the new owner, and then certified by HM Revenue and Customs. The document fee must be paid to HMRC buyer of the shares.Upon completion, the company will receive a stamped transfer form and the original share certificate. Then you must check that the details of the holding company are the same as those in the register of members of the company. If all goes well there, registered members can be updated to reflect the transfer of shares.It is good practice to eradicate or write "Cancelled" to clear the old certificate with the date. If the transfer is only part of the owner`s shareholding, then they will need a new certificate representing the decreased holding.The new certificate with a unique number must be given to the person receiving the shares within two months of delivery. If the shares are divided between two or more different new media (e.g., half are sold to one person and the rest to another), each of them will seek confirmation of their participation. But, as mentioned earlier, there is no reason to send multiple certificates for common interest.If the company does not issue shares within the above notice, the new shareholder of the company has not fulfilled its obligation by law to do so.

Replacement share certificates?

If a share certificate is destroyed, lost, stolen or damaged, the shareholder's have the right to seek and obtain a replacement certificate of shares in respect of the shares covered by this certificate.The process to be followed depends on whether the person is still certified. If the certificate is still owned by members, then it must be returned to the Company. The old certificate will be cancelled and the new one issued as described above.If you do not have a certificate, it is common for a company to inquire about the circumstances of their loss. It is common practice to issue the certificate, only if the shareholder has a complete form of indemnity.If it is found subsequently, then the old certificate must be returned to the company. This condition will be included in the form of compensation to shareholders.

The question of Indemnity

This confirms that the shareholder is the beneficial owner of the shares covered by the certificate and disclaims any responsibility to the public which may arise in connection with this. By signing the application fees, the shareholder, even if it is dependent on the original certificate to ask the company to replace another, and the company suffers financial loss, will cover the losses. If the amounts are large, the fee should be signed by a bank or insurance company.

What happens if you change the name or address of shareholders?

If you vow to change their name, they are often looking for new share certificates. Prior to the issuance of a replacement, companies must seek evidence of any name change. This usually takes the form of a marriage certificate or deed poll equivalent. When you have evidence, and the release of a replacement share certificate with details of the changes is given, it is also important to update the member`s register with new details.It is not usually necessary to replace share certificates if the registered shareholders change their address. However, the membership register can again be updated with the new address.Your Virtual Office London can help your business become a Limited Company, if you need help or advice our team can provide the expertise your business needs. We are based in London and are happy to arrange a face to face meeting where we can discuss your specific needs and requirements.

If you are a small business owner and operator, especially if you are what some people call a solopreneur (where you are the sole owner and sole employee of the company), then you are bound to have a lot on your plate every day. Time is always of importance; there are not enough days in the week for everything you have planned. To spend even a lunch or a few hours in the evening with friends and family becomes increasingly difficult and the idea of having the time to sort out the taxes of the company is something like a pipe dream (or even nightmare for many of us!) Technology is something that can be given to small business accounting as a fresh concept.However, the sheer volume of numbers and percentages is not in the interests of your professional life, even with the support of computer software and smartphone applications that can be used. All you can find yourself surrounded by is often unclear instructions and the sense of being overwhelmed by all the efforts it takes.

Going Solo

For some people, small business accounting, can take a long time to adjust to. It may take technology or expert advice from friends or family, or previous experience in this field in general, but some entrepreneurs have managed to make it work more than others. Is this is a good thing? This is a difficult question, as the time these small business owners spend on record keeping, accounting and tax filing can very well be used for the expansion of business networks and personal growth.

Hire an accountant

Whether your business is ready or not, you might consider hiring a professional small business accountant. It frees up more time for the important and urgent issues – after all, you are an owner who has to work! But at the same time, hiring a full time in-house accountant can also be a serious drain on your budget. Are you ready? Do you really need someone to be there forever, even when there is little or no work for them to do?

Workforce

Perhaps the logical answer for effective growth and stability comes from outsourcing your small business accounting. Now, this used to be too difficult to design and was an arena filled with doubt and stigma. However, it is the way that more and more business owners choose nowadays when considering the needs of its accounting.An accountant using outside resources will not be used for the time when there is little or no accountability to speak of- at the same time, they will be priceless when the tax issue permits, or needs modifications or other complex structures. Knowing that your accounting matters are in the hands of an expert, you can finally focus on doing what you love, which is to work towards greater prosperity and the growth of your company. Your small business accounting and fact-based decisions will help you achieve your goals faster.Your Virtual Office London help many small businesses get up and running, from virtual office &mail forwarding address, too accounting and banking services and introductions. What ever the need we can help your business, get in touch with us today to see what we can do for you and your company.

The area of public liability insurance can take on specific requirements, so if you`re not sure, then you should contact your local authority.For many industries, though, some customers or clients will need to be presented with proof of public liability insurance from yourself. When working with local authorities or other government institutions, this type of insurance is particularly common. Local authorities often require a minimum of £ 5 million of public liability cover.

The level of public liability insurance cover

Determining the level of cover required by insurance companies or insurance brokers can be difficult to determine. It depends on:

• The nature of your business;
• Members of the public and the dangers posed to your business premises and operations;
• Size or turnover of your business;
• The type of customers;
• The number of people you employ;
• Your insurance claims history.

These factors will also affect the cost of insurance

Reduce the likelihood of a claim and therefore carry out a proper and regular risk assessment to help keep the cost low. Minimise the chance of accidents by taking appropriate controls and have regular risk assessments completed and put in place.

Why insurance?

Everything is always understood and under control, even when business customers, visitors or others are involved in an accident that causes injury or loss of earnings. Should such an accident occur in which your business is responsible and you are not insured, the costs can be significant. If your business is unable to meet the expenses, it also gives you a bad name, and it may be hard for you to find new business in the future.If you found this blog interesting you can read more interesting and informative blog posts in our Your Virtual Office article archive library.