The Importance of Using a Registered Office Service after Company Registration

During the company formation process you are required to fill in a number of details regarding the information about your limited company. Companies House are required to collect personal details about shareholders and directors, as well as the address of the company's registered office. All limited companies are legally required to declare a UK registered office address in order to be incorporated, highlighting the importance of utilising this service if offered.

The registered office is a required piece of information when applying to form a limited company, which appears on the public records. This is the official address of the company. A number of companies and firms of accountants offer a service that allows limited companies to use their registered address for their company. There are two major benefits that can influence the decision to use a registered office address service. These relate to fulfilling statutory requirements required for company formation, and ensuring individual peace of mind.

The use of a registered office service is particularly important for non-UK residents that are looking to set up a company in the UK. As previously stated, it is a legal requirement for the company to be registered to an address in the UK. If a foreign director does not have access to a UK address, they may wish to take advantage of the registered office service to meet this statutory requirement. In this circumstance, the service is vital in allowing directors to fulfil a minimum requirement in the company registration procedure.

In addition to helping a limited company achieve the minimum requirements demanded for incorporation, the service can help avoid some of the dangers of using a personal address to register your company. Although it is possible to use your home, whichever address you register a company to is publically available information, which you are legally required to display in certain places and on certain forms of correspondence. As the information is publically available, this means your home address would be available to anybody who attempted to get in contact with you, for example your customers. The registered office service removes all risk of people trying to contact you directly at home with regards to company matters.

A further benefit of using an external address as your registered office concerns regular correspondence from government bodies, customers and suppliers. You may find that your company receives a large amount of mail, depending on your level of business. A registered office service can involve a post-forwarding service, by which the company that receives your mail can send it to a specified address. Often they will provide you with a choice of receiving mail forwarded electronically or physically. This service is useful in ensuring that important statutory mail receives a secure address and can be forwarded to you personally.

As a key piece of information required in the company registration process, it is important that you have a registered office address available when setting up a business. Finding a registered office provider can help remove the potential hassle involved with registering a company to your residential address. About the Author

Wisteria Formations specialise in online Company Registration, as well as offering professional accountancy and business advice.

How to Set up a Business in the UK?

An interesting fact about setting up a business in UK is that more than half of the UK residents work for small businesses. There are a surprising number of partnerships, small industries, trader-ships, and private limited companies in the UK. This would appear to make it a good choice for setting up a business.

When you set out on a UK company formation, having a good business idea is the first step. If you don't already have an idea, think about the services/goods that there appears to be a market for and the skills you have that could be utilized to create a UK business.  Do your research. Especially in this fragile economy you want to set up a UK business that will withstand recession.

Decide on the type of business you want. Will it be an independent company or part of a franchise? Are you going to buy an existing business? Once you have an idea, you've taken the first step in your UK company formation.

This is an economically unstable time so it is vital that you have done prepared a good business plan before you take your good business idea farther. If you need start-up capital, you must present a business plan when applying for a loan. In such turbulent times businesses are subject to larger-than-usual strains on sales, cash flow, employment difficulties and                                                                        goods availability. There are key factors which will make or break your business.

You need a target market. And you need to know that there is a market for your goods and/or services. The location for your UK business is also crucial. Look at how your target market and location must be compatible.

Next you need to consider the legal aspects of setting up a business in UK. You need to register your UK company. You need to consult a lawyer knowledgeable about business law to formulate the legal structure of your UK business. This is not an area to attempt without legal assistance.

As well you need a solid cash flow plan. This is where good accounting advice such as the online source will prove invaluable for those many start-up questions.

Besides the legal, financial practicalities, your UK business will not survive if you lack entrepreneurial traits. These include: an adventurous spirit, the stamina and drive to work hard, good organization and time management skills, a high sense of optimism, good people skills and resiliency to withstand those hard beginning times

There are no guarantees with UK business formation. However, if you do your homework, have a solid plan and are realistic, you are well on your way to setting up a business in the UK.

About the Author

Learn about a UK company formation and steps for setting up a business in the UK. Search for assistance and resources for getting your business up and running.

Completing Your Company VAT Return in the UK

Most businesses in the UK will know well the task of filling out a VAT return; it's something that needs to be done each quarter for all VAT registered businesses. For any new entrepreneur or business start-up just completing the company registration process, this article will be a good introduction, explaining what you need to know when preparing your VAT return, and how to ensure you stay on top of this important task throughout the year.

Your VAT returns will have to be filled and completely at the end of every VAT period, which you will need to do quarterly throughout the year. To ensure that this task becomes as easy as possible, make sure you hold on to all the relevant information which will make completing the form as easy as possible. This means storing and filing all financial information that's related to your company, and keeping these records as organised as possible.

When completing your returns you will be providing HM Revenue and Customs with a range of financial business information which includes how much VAT you've charged your customers, how much VAT you are entitled to claim back, the amount of VAT you as a company must pay to HMRC, the total amount of sales and purchases you have made and finally the value of goods or services sold to customers or ordered from suppliers in other European Union countries.

Most businesses will need to submit their VAT return online already, but a number are still allowed to file paper returns. However, from April 2012 there will only be one way to process this information and that is the easier and more popular way of filling in your returns online, which many people find far more convenient, dependable, safe and easier than paper forms anyway. If you are using the online service for the first time then there is an enrolment process which will guide you through what you need know, and a list of other VAT related things you can process online.  If you have an accountant, they will normally register your business under their own registration, making things easier all round.

If you are sending your form by post or electronically, then you need to make sure that it arrives at the VAT Central Unit by the date shown on either the paper or the electronic form, so completing and sending it early will avoid any unnecessary problems.

The general requirements will be affected by being in one of the special VAT schemes.  This many include the VAT flat rate scheme or annual accounting scheme.

You may also be liable to pay a surcharge (fine) if the return is late or the information provided is inaccurate. If you feel that you are unable to provide an accurate return by the deadline date and need further help, then you should contact Wisteria Formations, who can advise you on the best course of action to take.

About the Author

Wisteria chartered accountants offer a range of business and financial services which includes company registration, enabling you to form your new company online.