Blog
Welcome to The Formations Company Blog. Here we’ll share the latest news and helpful tips to make starting your business a little easier. Whether you’re looking for information on how to chase an invoice, tax, marketing your business or just looking for inspiration, there’s something here for everyone.
What a rise in national insurance could mean for business owners
The Prime Minister has confirmed to raise national insurance contributions by 1.25% to help fund the NHS and an overhaul of social care, but what could this mean for business owners? National insurance for sole traders and partnerships business owners ...
Being a director of a limited company blog series: Part 1 – The 7 legal duties of a director
In this blog series, we’ll look at all aspects of being a company director. From mandatory fillings to the ins and outs of changes and other legal requirements such as paying tax, keeping accounting records, your pension contributions, paying yourself and finally...
Being a director of a limited company blog series: Part 2 – Keeping records
As a limited company director, you’re in charge of running it, so you’ll need to keep records about the company in addition to financial and accounting records. You'll need to keep your records for 6 years and in some cases even longer. For example, if your...
Being a director of a limited company blog series: Part 3 – Changes to your company that must be filed
As you and your business grow, changes will inevitably occur. These can range from the address where you keep your records, to your business name, to a new company secretary. As a director, it’s up to you to make sure that changes such as these are filed,...
Being a director of a limited company blog series: Part 4 – Annual filings
As a company director, it’s your responsibility to file your annual accounts. This includes when you make changes to the company, keeping a record of accounting records and filing confirmation statements. Confirmation Statement A confirmation...
Avoiding delays when registering your business for VAT
Businesses whose turnover exceeds £85,000 have to register for VAT under the rules set by HMRC. By registering for VAT, businesses will receive a VAT number and can charge VAT on services sold to customers and reclaim VAT on goods and services brought for...
Business Law changes 2019 – 2021
Over the last few years, the small business landscape has changed drastically. It’s the same for business law. In this blog post, we’ll discuss all the major legal changes since 2019 so you can make sure your business is fully compliant. The main changes in...
Company Name Blog Series – Part 4: Protecting A Company Name
This is the fourth and final part of the company name blog series. But as with all good things, they eventually must come to an end. In this final post of the series, we’ll discuss the different ways of protecting a company name. Protecting a company name...
Company Name Blog Series – Part 3: Using A Trading Name
It’s common practice for limited companies to use a trading name to run several businesses with different trading names from one registered company. This name is not your businesses official registered name but is what customers will see and associate with your...
Company Name Blog Series – Part 2: Changing A Company Name
Welcome to part 2 of the Company Name Blog Series. Here we’ll discuss all things to do with changing a company name and the pros and cons that go along with it. Enjoy! Changing a limited company name As a limited company, if you ever find yourself in...