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

Enterprise Management Incentive (EMI) schemes are government-backed share option schemes for employees. They allow small, private companies to offer their staff equity in the business, which… Read More

Family businesses can be found across every part of the UK and in all shapes and sizes. We often associate ‘family business’ with a small shop in a quiet village, but some of the… Read More

The UK Government has announced several changes to UK employment law in 2024. Some of these take effect from April, with others due to come into force later in the year.  These changes… Read More

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

‘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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 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

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

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

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

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… Read More

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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