Boxwood is a firm of Chartered Certified Accountants based in London and we work with small and medium sized companies on a daily basis. We can help you open your new company quickly and we can answer any questions that you may have and deal with any issues from Companies House that may arise.
There are a number of issues to be aware of when opening a new company. First of all you should double check whether it is the appropriate structure for your business. This is not always the case e.g. if the company will incur early year losses and then needs to close down, these losses are likely to be lost.
You will need to consider the best structure for your company e.g. limited by guarantee or shares. You will also need to appoint at least one director (a private limited company is not required to appoint a secretary) and nominate a registered office address which will need to be in England or Wales. Certain registers need to be maintained e.g. Register of Members etc and also an annual Confirmation Statement must be filed. At the end of the year, Statutory Accounts and a Corporation Tax Return will need to be prepared and filed with Companies House and HMRC. Boxwood can assist will all of this.
If there are any changes to the company details during the year then these will generally need to be updated at Companies House and care will be required to ensure that the company Articles of Association are appropriate, although it may be possible to use the standard articles.
The above is good overview of the requirements but you should also seek advice before taking any action. If you have any questions at all then do not hesitate to contact us as we will be happy to answer any questions that you may have in this area.
3 views0 comments