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Share For Share Exchange
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
How To Submit A VAT Return
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
What Is An Objects Clause?
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
Life After Incorporation
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
Company Shares For Startups
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
What Are Growth Shares?
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
2023-11-29 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
Do You Need To Register A Business?
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 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
A Guide To Master Service Agreements
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
What Is A Debenture?
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
A Guide To Setting Up A Barber Shop
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
A Guide To Setting Up A Nail Salon
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
7 Reasons To Submit Your Tax Return Early
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
How To Set Up A Dormant Company
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
Is This The End Of Home Working?
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
1st Formations Is Now Using WhatsApp
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
How To Apply For A Corporation Tax Refund
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
How To Close A Limited Company With Debts
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
Do I Have To Provide Sick Pay To Employees?
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
A Guide To Starting A Food-to-go Business
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
What Is A Company Limited By Shares?
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
LLPs – The Pros And Cons
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
The IBAN Explained
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
What Is A Shadow Director?
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
A Guide To PAYE For Company Owners
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
A Guide To Keeping Meeting Minutes
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
Earth Day 2023 – Invest In Our Planet
2023-04-22 11:33
Earth Day is a global celebration every year on 22nd April. It provides an opportunity to remind the world about the importance of sustainability and invites communities to take part in plan… Read More
2023-04-13 13:26
Do you love your job, eager to jump out of bed in the morning and get stuck in with what the day has to offer? Or do you dread your commute, and feel overworked and under rewarded for your e… Read More

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