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Companies Act 2006 - 1 Oct 2009

Companies to use new statutory forms for filing statutory information to Companies House.
Directors to provide service address for public record instead of residential address.
Companies to provide Single Alternative Inspection Location - SAIL address if company records and registers are not kept at registered office.

Companies_house

Reminders for Directors

Registrar of Companies issue late filing penalties from £150 to £7,500 to companies if file company accounts late.

Companies House maintains companies information for public inspection.
Companies House will remove Companies and LLP if Annual Return was not filed on time.
Small and medium sized companies are eligible to file abbreviated accounts to Companies House which put less information for public records.

hmrc

VAT Administration and Obligations

Small businesses must register for VAT if sales are expected to be more than £68,000.
VAT Registered companies must file VAT returns to HMRC promptly.
Small companies may opt for VAT cash Accounting Scheme if sales are below £1.3 million.

Expanding Businesses Hiring More People

There is PAYE administration and payroll related matters required to be taken care for new employees.

As new employer, you must request your new staff to provide you with Part 2 and Part 3 of Form P45. This form will have been given out to your new employee by his/her previous employer. You then require submitting the Part 3 of P45 to HMRC.

In situation where your new staff does not have Form P45 because this is his/her first job in the UK or that he/she has not been in employment for a long time you will then require him/her to fill in Form P46 then send it to the tax office.

For people starting work in the UK for the first time you must advise them to apply for National insurance number from local Job Centre Plus.

First Time Taking On New Staff

Expanding Businesses Hiring More People