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If you’ve been dreaming of starting your own business, because you’ve had a unique product idea or have decided it is time to work for yourself, you might have stumbled on one of the most rewarding paths you can take in your lifetime. However, running your own business, whether you...

You’ve incorporated your limited company. You’re ready to start trading. But you’re missing something vital: a bank account. As a legal requirement for limited companies in the UK, you can’t afford to delay this process. But, before you get started, there are a few things you need to know. 99p...

Changing the share structure within your business can feel like a significant step, either because the company is growing and developing, or because a change in ownership is imminent. Whatever the reason, changing names on Companies House is only the start. Because shareholders are the legal owners of a company,...

A share class is a designation of shares held by investors within a company limited by shares. While every share represents ownership in a company, different share classes can give shareholders different rights and responsibilities. Some shareholders may have voting rights, others may receive priority when dividends are paid, and...

When setting up a new business, there are several important decisions that will shape its financial future, and right at the top of this list are the insurance policies you choose to invest in. You don’t need insurance to incorporate a business, but once you begin actively training or hiring...

Yes, it is perfectly legal to start a business under the age of 18 if you live in the UK. If you want to make money off something you have a particular talent for, or you want to dedicate your spare time to running a start up, there are no...

What is a shareholder? A shareholder is an owner of a business limited by shares. When someone owns shares in a company, they own a percentage of that business. The number and type of shares they hold will usually determine: How much of the company they own How much profit...

A Standard Industrial Classification code (SIC code) is a five digit numerical identifier used to describe the main activities of a business. Every UK limited company is required to provide at least one SIC code when incorporating or filing certain company documents. The purpose of the code is to give...

The term ‘dormant company’ can mistakenly suggest a complete pause in business operations with no obligations and no paperwork. In reality, that assumption can lead to costly mistakes. Even if your company is not trading, it still exists on the public register maintained by Companies House. This means there are...

When a company is removed from the Companies House register, this is known as company dissolution. This can be done voluntarily or involuntarily where a business is struck off the register for failing to meet Companies House filing deadlines. Once a company is dissolved, it no longer exists in a...