2024-04-15 16:38
When it comes to starting a business, the UK was a very busy place last year. Companies House, the UK government’s company register, reported that 900,006 companies were formed in 2023… Read More
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The leading blog for company formation industry in the UK.
2024-04-14 10:39
‘People from ethnic minorities are twice as likely to set up a business’: Sharniya Ferdinand, NatWest’s Enterprise Community Strategy Director.
More people are setting up b… Read More
2024-04-13 12:05
As part of our company formation services, we offer our customers an online introduction to several banks specialising in small businesses. You can choose a business bank account as part of… Read More
2024-04-12 09:29
The Companies House ‘Search the register’ website is a free tool that allows you to look up any UK company that appears on the public register. It’s useful for completing b… Read More
2024-04-11 11:41
Assuming you’ve obtained the health and fitness qualifications you need to be a professional personal trainer, it’s time to take the next step and launch your very own business… Read More
2024-03-30 11:14
The Entrepreneurship Institute at King’s College London has helped thousands of students, entrepreneurs and start-ups develop their skills, ideas and products over the past decade.
Bey… Read More
2024-03-29 15:41
The first set of changes introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on 4 March 2024. One of the new measures that applies to every compan… Read More
2024-03-25 16:10
From an industrial powerhouse to an iconic technology ecosystem, Manchester has come a long way and is now one of the most sought-after business locations in the country, housing numerous te… Read More
2024-03-24 12:41
With effect from 4 March 2024, every UK company (and incorporated partnership) must provide an ‘appropriate’ registered email address to Companies House. When setting up a new co… Read More
2024-03-23 11:26
The start of the new tax year is an important time for every business, regardless of its size, legal structure, or activities. Aside from the usual year-end accounting requirements and filin… Read More
2024-03-22 11:40
Community amateur sports clubs (CASCs) can operate under an unincorporated or incorporated structure. However, incorporating your club presents significant advantages, such as limited liabil… Read More
2024-03-16 03:36
Typically, the best way to pay yourself through a limited company is to take a low director’s salary and then top up your earnings with regular dividend payments. Since tax thresholds… Read More
2024-03-11 19:53
Small businesses can use trust badges to establish that all-important consumer trust. They are a powerful way of reassuring customers that a website is secure and that the business is legiti… Read More
2024-03-10 20:20
If you’re an aspiring beauty therapist or have a passion for the beauty industry, you can turn that passion into a successful career by opening a beauty salon and being your own boss… Read More
2024-02-29 14:30
The demand for photography services has sky-rocketed in recent years. Some of the most popular and lucrative photography industries include weddings, fashion, and products. If you have a pas… Read More
2024-02-29 10:53
Following a 16-week stakeholder consultation, the Financial Reporting Council (FRC) finalised its updates to the UK Corporate Governance Code (the 2024 Code) on 22 January 2024. This replace… Read More
2024-02-27 20:29
One of the most frequently asked questions we receive from overseas customers is whether or not you need to register for Self Assessment as a non-resident UK company owner and director. The… Read More
2024-02-24 11:25
A share for share exchange is a transaction that involves the swapping of shares. An exchange may take place between a shareholder and another company, or between shareholders in the same co… Read More
2024-02-18 10:54
If your business is registered for VAT, you will need to submit a VAT Return to HMRC – usually every 3 months. The return will show how much Value Added Tax you have charged to your cu… Read More
2024-02-17 12:59
Companies House is set to roll out the first of many changes to UK company law, starting on 4 March 2024. These major reforms, introduced by the Economic Crime and Corporate Transparency Act… Read More
2024-02-16 16:10
Disciplinary procedures can vary between companies. However, any company that employs staff is likely to need to carry one out at some point.
Small businesses that have not carried out disci… Read More
2024-02-15 15:56
Company directors and owners can remove money from a limited company in several ways. Typically, they pay themselves a salary, claim expenses, and receive dividends from their shareholdings… Read More
2024-02-14 17:30
Private limited companies are not legally required to appoint a company secretary. Although there is no obligation to have one, we’ll explore the reasons why it’s worthwhile… Read More
2024-02-11 16:50
Prior to the Companies Act 2006, every UK company was required to include an objects clause in its memorandum of association. This is a clause that sets out a company’s purpose and the… Read More
2024-01-31 20:21
If you’re looking to register a company, you’re spoilt for choice when it comes to the structures that are available to you, especially if you don’t need to reside in the l… Read More
2024-01-30 20:18
Life after incorporation is different for each company; however, there are many responsibilities, obligations, and events that concern most UK companies once they are formed.
In this article… Read More
2024-01-30 19:54
Are you passionate and talented in certain building trades and you are possibly thinking about making more of your skills? It could be time to start your own handyman business and turn what… Read More
2024-01-28 17:07
Affiliates and Partnership Director at 1st Formations, Priscila Dexheimer, brings you her ultimate guide to starting an affiliate marketing business.
Having worked with global brands like Tr… Read More
2024-01-27 11:30
The deadline for submitting a Self Assessment tax return online is midnight on 31 January each year. If you missed the Self Assessment filing deadline for reporting your 2022/23 income, you… Read More
2024-01-26 12:19
If you are thinking about setting up a company, it’s important to understand the basics of company shares before getting started. This knowledge will enable you to devise the most appr… Read More
2024-01-21 12:58
As your company grows and you start to take on employees, you’re probably thinking about job titles. Perhaps you haven’t previously given it much thought, but there are some gene… Read More
2024-01-13 10:52
Anyone setting up a new business can expect to experience a great deal in their first 12 months.
On one hand, it’s an exhilarating journey and one that’s hugely rewarding. On the… Read More
2024-01-03 19:43
You don’t need to invent a game-changing product or build a revolutionary website to become your own boss. Sometimes the route to entrepreneurship is much more simple and inexpensive… Read More
2023-12-24 11:10
Growth shares are a particular type of ordinary share that companies can use to attract, incentivise, and retain key talent. Sometimes referred to as hurdle shares or value shares, they allo… Read More
2023-12-21 18:28
One of the biggest stories of 2023 – certainly in the business world – was AI. The focus of most Artificial Intelligence discourse so far is how dangerous it could be. However, t… Read More
2023-12-14 19:28
Did you know that as a 1st Formations customer, you qualify for a range of special offers designed to get your new business off to the best start? Thanks to our various partnerships you can… Read More
2023-12-12 19:06
Whether you have formed your company already and are thinking about bringing on a new business partner, or you thinking of starting a new business with someone you already know, there are ce… Read More
2023-12-03 12:01
First things first, if you are a non-UK resident who wishes to form a UK limited company, there is no need to apply for a work visa as there is no requirement for you to travel to the UK. Th… Read More
2023-11-29 19:27
Deciding how to structure diverse business activities or different brands requires a great deal of consideration. In such situations, you may wonder whether it’s better to keep your co… Read More
2023-11-28 19:49
You’ve probably read numerous articles on how to tackle the office Christmas party as a lowly employee, but where’s the guidance for the boss? It’s an oversight considering… Read More
2023-11-24 13:03
On 22 November, Chancellor Jeremy Hunt delivered the Autumn Statement 2023, revealing 110 tax and spending measures designed to grow the UK economy, including changes to National Insurance… Read More
2023-11-22 20:57
In an unpredictable and ever-changing business landscape choosing a business venture that stands the test of time is paramount. But amidst recent global events and a challenging climate for… Read More
2023-11-20 20:21
With attractive working conditions and plenty of diverse job opportunities, the UK continues to be an attractive destination for non-UK nationals looking to work abroad.
In today’s dyn… Read More
2023-11-12 10:37
You’ve got a great idea for a business and you’re all set to get started. But can you just start trading or do you need to register a business? In this blog, we explain what you… Read More
2023-10-26 11:43
A topic that regularly causes confusion for new limited company owners is VAT (Value-Added Tax). Specifically, there’s uncertainty on whether a company is automatically registered for… Read More
2023-10-26 10:00
A serviced office is a versatile alternative to a traditional leased office space. Sometimes referred to as ‘flexible offices’, they provide businesses with the option to occupy… Read More
2023-10-25 20:30
A master service agreement (MSA) is a useful tool that helps business relationships run smoothly. When you form a partnership with another company, client, or supplier, contract negotiation… Read More
2023-10-25 18:50
As a small business owner, there will be facets of running your company that you excel at and areas in which you struggle. However, there will also be blind spots – issues you fail to… Read More
2023-10-25 18:17
One of your legal obligations as an employer is to check every job applicant’s right to work in the UK prior to employing them. There are three approved right to work checks that you c… Read More
2023-10-24 20:06
A debenture is a debt-acknowledging document. It is a formal agreement that secures a lender’s funds against the borrower’s assets to ensure that the interest is paid, and the lo… Read More
2023-10-19 19:22
Etsy is an e-commerce platform that allows artists and crafters to sell the goods they make quickly and simply by removing the need for them to set up an online shop from scratch.
If you&rsq&hell…Read More
2023-10-01 11:42
The early stages of a business are the hardest. Whether you claim government benefits and are looking to start your own limited company, or you are already a director and need financial supp… Read More
2023-09-30 15:32
You’ve entered your registered office address, added your directors, named your shareholders, and provided all of the other necessary company information. But what next? Here we explai… Read More
2023-09-27 20:24
Despite the challenges of recent years, the barber shop has proven to be endlessly resilient.
With the constant demand for grooming services and the prospect of repeat loyal customers, openi… Read More
2023-09-27 19:40
The Covid-19 pandemic has changed how we navigate the world of work. Many offices now offer flexible working patterns to make some roles more adjustable and comfortable. The same goes for co… Read More
2023-09-26 16:53
With social media and celebrity influence becoming more and more prevalent, the demand for manicured nails has seen an influx in nail salons popping up across our high streets.
An increasing… Read More
2023-09-23 11:49
Remote working is a perk that is often used to attract new people to a business and retain existing talent. However, despite the undoubted benefits being able to work from home can provide e… Read More
2023-09-20 20:04
In the 2021/22 tax year, HMRC reported that 630,000 people filed their Self Assessment tax returns the day before the January deadline. Around 21,000 submitted them just an hour in advance… Read More
2023-09-17 09:59
To set up a dormant company, you need to follow the standard incorporation process and then tell HMRC that your new company is dormant for Corporation Tax purposes. This simple guide takes y… Read More
2023-09-16 15:15
When a company issues shares during or after incorporation, the purchasing shareholders usually pay for them in full at that time. Under certain circumstances, however, companies may issue n… Read More
2023-09-09 10:37
If you want to start a business, one of the first things to do is choose the structure that’s right for you.
In the UK, the two most popular models are limited companies and sole trade… Read More
2023-09-02 15:04
You can change your company’s articles of association at any time if 75% of members agree to it. Since this is the governing document that sets out the purpose and rules of the busines… Read More
2023-08-25 18:59
As businesses increasingly search for ways to improve productivity and save time, the services of personal assistants are continuously high in demand. If you’re organised, resourceful… Read More
2023-08-24 13:36
We’re delighted to announce that on 7th September at 11am we’re hosting our latest webinar – ‘How to Take Money out of a Company’.
Inspired by one of the most c… Read More
2023-08-17 20:12
In recent years, the working landscape has undergone a seismic shift, with home working becoming the norm for many UK companies.
Reports indicate that Great Britain has in fact been one of t… Read More
2023-08-17 11:39
Here at 1st Formations, we’re passionate about two things:
Helping people start their own businesses
Pets, in particular our 12 office dogs (Yes, 12! Take a look at our About Us page f… Read More
2023-08-14 18:41
We’re delighted to announce that 1st Formations has added WhatsApp to our list of methods customers can use to get in touch with us. Here’s what you need to know about using What… Read More
2023-08-12 11:04
As people become more focused on prioritising self-care, they are increasingly seeking ways to look after both their physical and mental health, with many turning to qualified personal train… Read More
2023-08-05 07:07
If web development is your passion, setting up as a freelancer is an ideal way to add independence and variety to your working life. Whilst it’s a competitive industry to be operating… Read More
2023-08-04 17:51
If business is booming and you need an extra pair of hands, you may be considering employing your spouse or partner in your limited company. Or perhaps working together would simply make it… Read More
2023-07-30 17:44
Under the model articles of association, there is no statutory provision that enables any one party to force a company shareholder to sell their shares. However, if certain circumstances nec… Read More
2023-07-30 10:13
To add a new employee to your company payroll, you must obtain certain information about the individual and register their details with HMRC when you pay them for the first time. This post e… Read More
2023-07-25 20:20
It’s a rare day when HMRC is the one who owes money to you, but it does happen sometimes. One such occasion is when your company or organisation is due a Corporation Tax refund as a re… Read More
2023-07-21 18:22
If you operate an online store, there will inevitably be times when you encounter unsatisfied customers who want a refund for the goods they have purchased.
In these instances, it pays to kn… Read More
2023-07-19 21:07
If your company cannot afford to pay its bills, it is insolvent. Depending on your particular situation, you can close a limited company with debts by putting it into administration, arrangi… Read More
2023-07-18 19:43
Share buybacks occur in all types of private and public companies limited by shares. Also known as a ‘purchase of own shares’, a buyback is a popular and legitimate way for a com… Read More
2023-07-17 18:57
If you are a UK employer, you have a legal obligation to provide Statutory Sick Pay (SSP) to all employees and certain groups or workers who meet the required eligibility criteria. Some peop… Read More
2023-07-15 09:56
Our company formation packages come with the option to open a Wise Business Account. This provides you with a multi-currency account that allows you to transfer, spend and accept money in mo… Read More
2023-07-08 12:13
Appointing another business entity as a director in your private limited company is similar to appointing an individual. However, there are a few differences.
In this post, we take you throu… Read More
2023-07-06 19:42
Dogs in the workplace are shown to boost staff morale, increase productivity, and improve employee retention and recruitment. It can be a game-changer for businesses of all sizes across a va… Read More
2023-07-01 15:38
A board meeting is the coming together of a company’s board of directors. As the director of a private limited company, the idea of arranging and attending board meetings may seem like… Read More
2023-07-01 11:34
Busier lifestyles, the evolution of food delivery apps, and a notable shift favouring casual dining experiences have seen a surge in the popularity of food-to-go businesses in recent years… Read More
2023-06-21 20:33
Fortunately, thanks to the prominence of online registration, spelling mistakes on company formation applications are now relatively rare.
However, if you do make a mistake on your applicati… Read More
2023-06-21 19:13
Transferring shares to your spouse or partner can be an effective way to reduce your tax burden, particularly if you are a higher-rate taxpayer and your other half is in a lower bracket. How… Read More
2023-06-11 17:39
A company limited by shares is a legal entity that is owned by shareholders, whose liability to company creditors is limited to the amount they agree to pay for their shares. Designed for co… Read More
2023-06-10 10:06
There is no legal requirement to have a shareholders’ agreement in place when you set up a company limited by shares. Nevertheless, a properly drafted agreement is strongly recommended… Read More
2023-06-04 05:37
The demand for video content is rising every year. In 2023, it’s understood that 91% of consumers want to see more online video content from brands, making videography one of the most… Read More
2023-05-28 15:23
Finding a business partner whose vision, skills, and personality are compatible with your own can be a monumental challenge. Trust and familiarity play important roles as well, which is one… Read More
2023-05-25 15:45
An LLP, or limited liability partnership, is a popular type of business model that is incorporated at Companies House with two or more partners, known as LLP members. By operating your busin… Read More
2023-05-23 19:19
After setting up a limited company one of your priorities should be to open a business bank account.
Whilst this is not a legal obligation (a common misconception), it is recommended as it h… Read More
2023-05-20 12:23
In limited company parlance, directors are individuals (but sometimes they can be other companies) tasked with running the company. There is, however, an element of confusion surrounding thi… Read More
2023-05-20 11:57
Under the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016, every UK LLP is required to prepare and maintain a register of people with significan… Read More
2023-05-13 15:09
Many first-time company owners are surprised to learn of the requirement to register for PAYE. Even if you run your business as a sole director without employing any staff, you may still nee… Read More
2023-05-06 13:09
We know that starting a company is a big step. That’s why, if you have any questions about your new business, we have made it as simple as possible for you to find a clear answer. In t… Read More
2023-04-30 10:07
Building a culture of diversity, equity, and inclusion should not be mistaken as a simple box-ticking exercise or HR initiative. It has become an integral part of a business’s success… Read More
2023-04-30 10:07
Building a culture of diversity, equity, and inclusion should not be mistaken as a simple box-ticking exercise or HR initiative. It has become an integral part of a business’s success… Read More
2023-04-29 11:52
Registering a company may sound like a complex endeavour but it really isn’t. Now, thanks to the internet, the process is a quick and simple one, with the time it takes to complete the… Read More
2023-04-27 14:47
By law, UK limited companies must keep meeting minutes of all board meetings and general meetings. These minutes serve as a formal written record of proceedings, including key matters of dis… Read More
2023-04-26 21:05
As someone involved in a limited company (either as a director, shareholder, or both) you’re likely to be working in a competitive environment where protecting certain information abou… Read More
2023-04-26 18:50
UK small businesses are preparing for growth in 2023, in spite of the significant challenges presented in recent years.
A new survey by Small Business Britain found that 60% of small busines… Read More
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