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Forming a company is no longer a time-consuming and difficult task. There are simple online processes meaning that you do not have to comply with the papers, and you can enter all your company's data very quickly. This will electronically submit your application to Companies House, and would be able to approve your company in as little as 3-4 hours. Use this simple company checklist to help you gather the information you need to register a company, and it may be your easiest company formation ever.

Name of company

Select the name of the company, including Limited, or LTD, then check if it is available, using the company name in your search.LocationThis is the address that will appear on Companies House records, which is where all official correspondence will be sent to your company. You must enter the full address, including postcode.

Share details

A public limited company must have at least one member at the time of registration. You must provide the nominal value of the share class.

Directors

Your company must have at least one director who is an individual (not by the company Director) of age 16 or greater. For each individual Director, you must submit:

• Full name(s)
• Family
• Previous name(s)
• Full-service street address and city, state and post code (in a public register)
• Usual residential address (will not appear on the public register of protected information)
• Date of Birth
• Nationality
• Business occupation
• Number of shares, if any, allotted to the director, and the details of the purchase price
• 3 security issues (see below)

Every business leader will need to provide:

• The company's name and registration number of the company
• Registered / head office address (including postcode)
• Statement if it is an EEA company
• Non-EEA company's need a legal form by which the corporate body is governed
• Name of signatory
• Number of shares, if any, the head of the company has, and the details of the purchase price
• 3 security issues signatory

Why use Your Virtual Office London

Your Virtual Office London have been forming companies for over 40 years, this means we have the experience your fledgling business needs when first forming a company. We dont just provide company formation services, we also provide additional services that compliment your business and help boost its productivity and corporate image. We can help provide a registered office address, a prestigious mail forwarding serviced address and virtual PA call answering. What ever your business need please get in touch with our expert team where we will be more than happy to help you.

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.

The issue of the number of shares to distribute is often a tricky question to ask of most small businesses and medium-sized businesses where there are between two and five shareholders concerned.Although the circumstances of each individual is significant, there can be found a few advantages to distributing shares or to allot them. Let`s look at an example of a new company with a small number of shareholders who want to start contributing.

The three members of the company will be allocated just one share each. Here are the advantages:

• It should be easy for anyone to understand with fewer amounts of shares in issue.
• Having a small number of shares may make it easier to handle.
• Initial money required from the shareholders is limited.
• At the other end of the spectrum, companies can customise hundreds or thousands of shares to shareholders of the three proposals. This method also has some benefits.
• The main advantage is the flexibility if, say, a shareholder wanted to sell part of their 100 shares. They can sell their shares for 100 while maintaining the rest. If all they had was one share, their options are much more limited!
• This flexibility may be also useful when you choose to allocate shares to existing shareholders or new shareholders. For example, if the intent is to allot more shares to certain individuals in future, then this can be achieved through the allocation of (say) 10 shares on top of their original 100.
• If there is a need in the funds to maintain the business, then a large number of shares can be issued at a premium or fee.
• Companies that have more shares - and the value of greater whole – look more substantial than those with less capital.
• When considering whether to lend, the bank may want to see a number of shares issued and that the funds are committed to the establishment of the company. This is more favourable as opposed to a heavy reliance on the making loans to companies.

In each of these examples, the shares of the ownership remain equal. Whether the trio of shareholders have three or one hundred shares of stock, each one will retain the voting rights in the company.Your Virtual Office London are leaders in virtual office services including company formations and corporate address services.

A SIC code (standard industrial classification) is what details a company's chief business activity - every company chooses from the official SIC list, the role of their company and selects the appropriate code. It is to identify companies and to categorise them using an efficient system.SIC codes are sorted into a classification system. For example, "Forestry and Fisheries' have a group, and there are forty separate SIC codes within this section, right through to the “growth of citrus fruit”!

Where did the UK SIC code originate, and what do they do it for?

This code system began in 1937, in the United States. The UK system was founded in 1948, and known as the Standard Industrial Classification. The industry classification has had to keep ahead of changes in the UK employment and industry structure. From the start of the original list, there have been alterations made in almost every decade since 1958.The main difference in the recent changes is that now the UK codes run comparatively with the UN and EU standard systems. One obvious distinction is that there are now five digits to the code, whereas in 2003, there were only four. From October, 2011 this 'new' code list from 2007 is necessary for every company to use.In an attempt to classify the kinds of activities assumed by the nation`s businesses, there are now more than a hundred SIC codes. With other agencies, the National Statistics Office collects and publishes data formulated on the type of classification: for example, revenue figures to enable comparison between the multitude of other industries and jobs. The company SIC code and others are available to all.

When do I need a SIC code?

As you initially set up a company, you do not need to show a SIC code immediately. The first annual return is when most businesses need to have the code.One SIC code is needed from 28 days of your company submitting the annual return. If you include an invalid SIC code, Companies House will decline the form and you will be asked to submit it again.At all future annual tax returns, SIC codes have to still be incorporated, even if the code remains the same. Should the company expand its operations or change business type, then it would probably come under a new category and SIC code. The company does not need to explain this to Companies House at the time of change only when the annual return is to be submitted.Most companies feel that a single category best describes their business. Although, you can select to do this type with up to four codes, so that a variety of businesses, or an especially complex one can honestly describe the company.

What is my code?

The fact is, most company owners won`t be thinking about SIC codes every day. You probably won`t have heard of one, if your company is a new one. If your annual return is complete, the information that you need should be included on it, or contact Companies House to get the full details.Finally, don`t worry or lose sleep over how you choose to categorise your company. No action will be taken against you for this – sometimes there might just not be the ideal section, so simply opt for the nearest one you think is right for you.Your Virtual Office London have been providing virtual office services to clients throughout the globe. We also specialise in company formation services and have helped formed over 15,000 companies since we started trading back in the early 1970's. We have produced a range of services which are aimed at start ups and new businesses. Our services include mail forwarding address services, registered office service, directors address service, accounting and fast track banking.

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.

Factoring is to delegate the management of customer invoices to an external company (a factoring company, also called a factor) and to get an advance on its debts if the company would grant payment terms to its customers.The mechanism of factoring is very convenient, but it is not free! How much is factoring? What type of society uses these services? Here we analyse the typical profile of a client company.

Factoring in detail

The mechanism of factoring includes several additional benefits, and several distinct costs!First, the factor manages all or part of the business' client account. The service involves monitoring and charging regulations, customers and raises the risk of default. "The commission factoring" encompasses all of these benefits, including the unpaid guaranteed.FeesThe factoring fee to pay back the factor varies. Generally, the price to pay for peace of mind is based on the gross sales of the business, but also the volume of invoices to be processed or the reputation of debtors of the company.The factoring fee is indeed a commission rather than a fixed charge. This will be deducted directly from revenues collected by the company.Then, in the case of delayed payment, the factor provides an advance on debt, which can be up to 90% of the bill of the company. The latter then pays the factor, via a sort of "interest borrowing ", called "the funding fee”.Lastly, most factoring companies add various fees, such as fees or additional voluntary benefits (audit, consulting etc.)Factoring: summary of the costsSo with this cascade of costs, how much are the returns factoring? Some companies offer a factoring fee ranging from 0.5 to 2% of sales to manage.Others have a more ambiguous billing that includes a factoring fee and other charges (various commissions, overhead ...) of the total cost for all services, ranging from 7-15% of the amount plus VAT. It is advisable to make detailed specifications to control costs. In short, each factoring company uses a different method to calculate its price.

The benefits of factoring

Given the price tag, the benefits of factoring are many. The possibility to offload customer reminders and get cash advances are the primary benefits. If you look closer, factoring is a solution to outsource an entire department and the management of the account.

Factoring or discounting?

Discounting is a process that allows the company to sell its debt to its bank, which allows them a cash advance, with interest. The procedure involves the signing of a bill of exchange, subject to acceptance of the bank. Factoring is simpler, in terms of procedure and additional documents.

Factoring: Who is affected?

To benefit from economies of scale, we have to see its sales increase.Factoring is typically for high-growth companies that do not have the time to organise their customer service and are thrown in at the deep end. The same goes for companies with multiple activities, wishing to delegate some, especially when they are deployed overseas.Companies that perform substantial payment delays will have an incentive to seek a factoring company to better manage their cash flow and to discharge reminders. Traditionally, payment delays affect enterprises B to B (business to business) or activities for professionals (not individuals).Factoring is biased towards "large and medium-sized companies". To diversify their customer base and attract "small" companies, some factoring companies offer a flat-rate system, rated to the volume of invoices to process.For plenty of information and other accounting news, check out Your Virtual Office London today.

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.