If using this data, please credit with a reference link to 1st Formations or a link back to this report page.  If you would like to republish any graphics in this content, please… Read More

‘D-U-N-S Number’ is short for Data Universal Numbering System Number. It’s a unique nine-digit code associated with business reportin… Read More

In today’s competitive market, UK businesses are increasingly tapping into the global talent pool to fill specialised roles and address skill shortages within their teams… Read More

It’s rare to come across positive news these days. Whether it’s the lingering effects of Brexit or the tense anticipation of the Autumn Budget, the head… Read More

A company seal is a stamp that signs a document on behalf of a company. It can be affixed with an embossing tool that engraves a company’s details onto a document. Seals h… Read More

An Authorised Corporate Service Provider (ACSP) is a business that is covered by UK Money Laundering Regulations and has approval to act as an intermediary between registrable entities and C… Read More

UK business laws regulate all aspects of setting up and running a business in the United Kingdom. They cover a broad range of fields, from company law and contract law to taxation, consumer… Read More

Your pricing strategy says a lot more about your company than just how much your product or service costs. It determines what type of customers you can attract, whether they&acir… Read More

Key Self Assessment deadlines are fast approaching. If you’re completing your first tax return, you have until 5 October 2024 to register for Self Assessment with HMRC, th… Read More

Purpose. It’s a huge word.   As humans, our search for purpose is deeply embedded into our culture, psychology and emotion.   Throughout our lives, teachers, author… Read More

A new nationwide survey from 1st Formations found that 90% of UK entrepreneurs are happier now that they are business owners. This is based on 1,055 SME owners’ responses… Read More

The King’s Speech, delivered on 17 July 2024, outlined the new Labour government’s plan for its first year in office. It includes 40 bills, with a strong focus on economic stabil… Read More

Understanding Value Added Tax (VAT) is crucial for business owners. However, this can be a real challenge if you’re unfamiliar with the various VAT terms relating to registration and c… Read More

We’re two years into our partnership with the WONDER Foundation, and 1st Formations is working hard to support underprivileged women and girls gaining access to education. Our voluntee… Read More

Workplace sickness has been rising sharply over the last decade. We’re not just talking about the odd day when someone has a cough and sniffly nose – the nation’s mental an… Read More

Financial limitations are one of the biggest obstacles for aspiring entrepreneurs. Of course, you need some money to launch a business, but depending on your idea, you don’t necessaril… Read More

Small businesses in the UK are increasingly aware that artificial intelligence (AI) can make them more productive, yet most are still reluctant to use it. In fact, the recently released … Read More

1st Formations has retained its carbon neutral certification for the third year. Here’s why we became carbon neutral and how we calculated our carbon emissions for the 2023 calendar ye… Read More

We sat down with Annabelle Delorme, a 1st Formations customer and (more importantly) a business owner with a wealth of experience in leadership coaching. Ms Delorme is the founder of Annabel… Read More

The VAT registration threshold is the turnover threshold at which businesses are legally required to register for VAT in the UK. It is set at £90,000 for the 2024-25 tax year. This is… Read More

Imagine living in a simulation designed by artificial intelligence robots that keeps humans asleep while the machine world thrives. To clarify, we’re describing the plot of the 1999 fi… Read More

As consumers strive to become more socially and environmentally aware, conscious businesses worldwide are taking steps to demonstrate to new and existing customers that they are taking actio… Read More

Investing in residential property is often seen as an appealing option due to its long-term growth potential. Property values and rental yields in most parts of the UK show appreciation over… Read More

Being a 1st Formations customer comes with a ton of perks, like our exclusive partner offers. We work with a range of brands to constantly bring you discounts and benefits, helping to make r… Read More

Obtaining a share code is one way that non-British and non-Irish citizens can prove their right to work in the UK. Introduced in 2021, this Home Office online service enables individuals to… Read More

When we think of entrepreneurs, we tend to picture the Zuckerbergs and Bransons of this world; young, disruptive students fighting the status quo and becoming their own bosses before the age… Read More

A new survey from 1st Formations reveals that almost half of small business owners in the UK say they would hire an ex-offender. The result is based on 1,055 respondents to an original 1st F… Read More

Companies House has released its activity report for the financial year from 01 April 2023 to 31 March 2024, showing a significant increase in the number of UK and overseas companies on the… Read More

Board meetings are formal gatherings of a company’s board of directors. Although the Companies Act 2006 does not specify that private companies limited by shares must hold board meetin… Read More

Under current UK company law, you cannot move your company from another country to the UK. However, the UK Government does plan to introduce a corporate re-domiciliation regime at some point… Read More

There are numerous grants available for small businesses throughout the UK. Grants are non-repayable loans intended to help with essential start-up and growth expenses, and are typically iss… Read More

Business Asset Disposal Relief provides a reduced rate of Capital Gains Tax when you sell or ‘dispose of’ all or part of your business, including shares in a company. You don&rsq… Read More

When selling shares held in a UK company, you normally pay Capital Gains Tax (CGT) on any profit you make from the sale. However, the rules are different for non-UK residents. On the disposa… Read More

The process you must follow to dissolve a company is relatively straightforward and inexpensive. However, to close a company this way and get it struck off the Companies House register, the… Read More

According to new data from 1st Formations, the increase in the Companies House registration fee has hit the number of companies formed in the UK. The UK is undergoing a serious overhaul of i… Read More

A new nationwide survey from 1st Formations found that the UK’s small business vote is split between Labour and the Conservatives, almost fifty-fifty. The general election is fast appr… Read More

Companies House, the UK’s official registrar of businesses, has rejected 761 company names in the 12 months to April 2023 based on whether a “reasonable person” would take… Read More

Marketing strategies help businesses raise brand awareness, introduce new products and/or services to the market, and grow.  Whether you’ve just launched your company and feel clu… Read More

Board meetings, while optional for a private limited company, represent a valuable opportunity for the company’s board of directors to come together and make important decisions about… Read More

UK-resident companies are subject to UK Corporation Tax on all taxable profits, regardless of whether that income arises in the UK or overseas. However, your company may be liable to double… Read More

When running a UK dropshipping company, you must register for VAT with HMRC if your annual VAT-taxable turnover exceeds £90,000. If any of your suppliers or customers are located outsi… Read More

Companies House has issued a new scam warning for UK businesses. Recent attempts involve fraudsters sending a letter to business owners claiming to be from Companies House and asking them to… Read More

16 years ago, a freelance photographer called Matt Dowling spent his last £300 on a lawyer, hoping to recover £11,000 that was owed to him from an unpaid invoice. This final atte… Read More

Directors and shareholders have different responsibilities in a company, although the same people often hold both positions simultaneously. Shareholders typically make company decisions only… Read More

A non-UK resident shareholder who receives UK dividends must declare this income by filing a tax return through Self Assessment. This is the case with almost all sources of income arising fr… Read More

For small businesses in the UK, 2023 was a huge year following the formation of 900,006 companies, the highest number ever incorporated in a single calendar year (and a 12% year-on-year incr… Read More

While entrepreneurship in the UK remains heavily skewed towards men, the number of women starting companies has never been higher. In 2023, the UK saw more women founders than ever, followin… Read More

If you own a business that is in regular face-to-face contact with customers and operates from physical premises, having a Google Business Profile (formerly known as Google My Business), is… Read More

On 1 May 2024, Companies House, the UK registrar of companies, increased the fee required to incorporate a company from £12 to £50. Several other company filing fees have been af… Read More

VAT registration requirements can be incredibly confusing, particularly for UK companies with non-resident directors and shareholders. In most cases, you can register for VAT online. We expl… Read More