A general partnership is an easy way for two or more people to work together. They each invest their skills, time and money in the business and trade with a view to a profit. A general partnership is similar to the way in which one...
You never expect anything to go wrong when you enter into business dealings with relatives and friends. You might even imagine that they will be fair to you should you have a disagreement. Unfortunately, fairness isn’t always at the forefront of a business partner’s mind...
The most obvious advantage that comes to mind is the fact that once you are registered with Companies House, no one else can have your company’s name as it will be protected! Companies can survive for a very long time as their existence only terminates...
Public companies are required to have a company secretary under the Companies Act 2006 but it is a different story for private limited companies registered in the UK where it is entirely optional. Some private companies opt to have a company secretary whilst others do...
There are usually four types of address that need to be supplied to Companies House when setting up a company; residential addresses for the company’s officers, service addresses for the officers, a registered office address for the company and a Single Alternative Inspection Location (SAIL)...
Dividends are how a company shares its profits during and at the end of the year and they provide a way for shareholders to extract value from a company. When deciding to declare a dividend, directors have to be certain there are enough distributable profits or...
Many companies take loans or mortgages and find ways to borrow money which can result in the creation of a charge. Well, what’s a charge I hear you ask? A charge refers to the rights given to a lender in exchange for a loan and...
Why do companies buy their shares back? Well, one reason is that it provides a way for shareholders to dispose of their interests in a company for example if they pass away or want to retire. If a new shareholder cannot be found or the...
In the UK there is no statutory provision barring a child from owning shares so, yes they can. A child or minor is defined in England and Wales as being a person under the age of 18. A lot of companies, especially public companies, often exclude...
You must notify HMRC when you incorporate a company and you intend to keep it dormant or if your existing trading company stops trading and becomes dormant. If you are incorporating a company from scratch you can select a SIC (Standard Industrial Classification) code for the...