COMPANY FORMATION SERVICES
You are setting up a UK company which must be registered at Companies House. DIY accountancy may not be a wise decision. To manage your business effectively, a professional accountant who can act as your vital link to HMRC and Companies House is an essential. Without this experienced person supporting you in some highly complex areas, you may find your business rapidly disappearing.
Your purpose in forming a UK limited company must surely be to trade and make profit. Beyond this, you will need to understand the requirements of running such a company.
After the new Companies Act, it is no longer necessary to have a Secretary but it is still mandatory to have at least one Director. A corporate Secretary, if you appoint one, does not have any involvement in the day to day operation of the business. It is common to appoint your accountant to act as the chief administrator, responsible for many services that require careful handling. These include:
- Preparation and filing of statutory returns to Companies House
- Follow up work after submission of Corporation Tax return to HMRC
- Preparation of documentation related to minutes and resolutions
- Maintenance of statutory books
- General advice on company law
- Supplying a copy of the accounts to every member of the company, debenture holder and person entitled to receive notice of general meetings
- Ensuring that people entitled to do so can inspect company accounts
If you fail to submit your accounts on time, HMRC impose a rising scale of fines which can amount to £1000. Fines may be levied on the director personally. Don’t risk it.
Ossman Consultants Limited recognises that whilst your accountant can handle the complete package for your company formation and secretarial strategy, you may find there are certain areas that you can cover in-house, depending on the size and turnover of your business. Taxation and VAT planning and compliance, post registration, capital gains taxation, bookkeeping, for example.
A scale of fees has therefore been designed specifically to offer support for flexibility. Making your business work is the aim of every good accountant. A new venture should be a rewarding pathway with freedom, rather than tight restriction.
Getting it right at the outset is likely to be crucial to the sweet taste of success. Isn’t that what you dream about? our fees
Ossman Consultants Limited can help overseas clients with company formation and compliance with statutory rules.