In the early stages, most small business owners face difficult times. The thought, will I ever make profits? Will my business get off the ground? These questions may linger in the minds of business owners in the beginning. The ultimate goal for any business is taking off and making profits.

As a freelancer or independent contractor, you enjoy the freedom to work on your own time. However, in the UK, you may find it hard to get regular projects due to tax risks or issues with employment rights. To solve these issues, you need to work under an umbrella company.

The UK has different company registries in Scotland, England, Wales, and Northern Ireland. This means if a company is registered in Scotland, they must have their registered office in Scotland and can't move their registered office in other jurisdictions. A company cannot change the country of registration, so you can't

A limited company can operate without employees, especially if it's a sole proprietorship. During the formation of a limited company, one person must be appointed as director. The director is enough to run the company and ensure it complies with all legislation. However, it's not a legal requirement for a

The United Kingdom's ecommerce market is the fourth in the world, making it RIPE for selling products online. Launching an online business is simple and fast if you have the right idea or service. With such a vibrant market for ecommerce stores, there are many platforms to facilitate your idea.

You're obligated to inform Companies House when you move house or make other changes in your company like issuing new shares. Just as the incorporation process is open and transparent, so is running a company in the UK. All information presented to Companies House during incorporation must remain current as

Hiring the right people in your company is key to establishing a profitable business that is compliant with the law. One of the most sensitive roles in a company is the position of a company secretary, and it needs a qualified candidate. Managing a company, whether a startup or an

Companies release preferred shares or stocks to raise capital. Preferred shares or stocks have the characteristics of debt and equity investments. They're considered hybrid securities that allow shareholders to receive dividends before equity shareholders. When a company faces financial challenges like a loss or winding up, the first payments are

Are you a small business owner in the UK looking to buy or lease company cars for your workers or yourself? If this sounds like you, it's crucial to understand what leasing a company car means in terms of taxes. Please spare a few minutes to read our Incorpuk insightful

Venturing into business is exciting, but there’s more to do to ensure your business is safe from lawsuits, damages, or cost claims. Insurance policies protect your company from unexpected risks that can arise during normal business operations. There are several insurance options business owners can choose from to keep

The self-assessment tax return is the system HMRC uses to deduct income tax from self-employed individuals or any other income that isn't taxed through PAYE. If your employer doesn't tax your income, you must DECLARE it to HMRC and pay the appropriate tax via an assessment tax return. The tax

The Accounting Reference Date (ARD) is the day that determines where a company's financial year begins and ends in the United Kingdom. On this day, companies must file their annual accounts with the UK's registrar of companies, Companies House. Company directors are responsible for setting this date, which remains the

Many limited companies within the UK adopt the model articles when they don’t wish to create a bespoke company’s articles of association. This used to be a normal and legally sensible act until recently when a judgment from a high court case questioned the use of model articles

As an artist or crafter within the UK, one way you can monetize your skills without having to spend a lot is by setting up an Etsy shop. Etsy provides a platform for creative individuals to produce and sell uniquely designed items. With it you can come up with several

Credit is a company’s lifeblood in today’s business world. While a low credit score can keep doors of opportunities closed, a high credit score can lead to new opportunities. As a business owner, you need to be aware of and take care of your credit score. This comprehensive

Obtaining capital is usually the most important factor in every business venture since it provides the necessary driving force to turn entrepreneurial ideas into reality. Navigating the numerous funding sources in the ever-changing UK business ecosystem can be difficult but essential to success. Seeking financial support necessitates a thorough comprehension

In a business world full of competition, safeguarding confidential company information is necessary to guarantee your business's success. A non-disclosure agreement (NDA) is a vital legal framework that protects sensitive business information. Whether you're a start-up, an established company owner, an employee, or a consultant, you should understand the complexity

A company may issue shares during or after formation. The shareholders who purchase these shares must pay for them in full during the issuance. However, there are circumstances where a company may allot nil-paid shares. Nil-paid shares are shares that aren't paid for, but the shareholders have already claimed their

Whether you're a start-up or an established company owner, for your business to grow, you must market and advertise it. However, most business owners get nervous when they think about the marketing part of the business. Some entrepreneurs think promoting a business needs a lot of money, or you must

As a limited company owner and director, you must remember the key dates to your company. You are responsible for filing various documents with the HMRC and Companies House. If you are a first-time company owner, you may not know these dates and what happens if you miss the deadline.

Transferring shares to your kids is a way of making them familiarise themselves with the business world and educating them about finance. However, as a limited company, you must consider several vital factors before transferring company shares to your kids. They include company restrictions and tax implications. For instance, many

Limited companies in the UK can change the memorandum and article of association at any time. Since these are governing documents, any change requires a Special resolution that must be approved by 75% of the members. Those that can be changed include company objectives, authorised share capital, and shareholder voting

A director is an individual who is appointed or elected to manage a company's affairs. It's noteworthy that directors may be either employees or contractors. However, these roles come with distinct rights and responsibilities in a company. When a company director plays the employee status, the business is mandated by

A dormant LLP (limited liability partnership) means the company is no longer trading and doesn't make income. Companies House requires the dormant LLP to submit confirmation statements and annual accounts. The responsibility of filing these requirements falls in the hands of designated LLP members. This guide will help you navigate