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The Blog

Do I need to register for Self-Assessment?

Posted by 1st Formations on Jan 29, 2015 in Tax | 20 comments

Do I need to register for Self-Assessment?

There are a number of different people who must be registered for Self-Assessment, send Self-Assessment tax returns and pay Income Tax and National Insurance Contributions on their taxable income through Self-Assessment, including: Self-employed sole traders. Limited company directors. Shareholders. Partners (members) in general partnerships and limited liability partnerships (LLPs). Employees claiming expenses in excess of £2,500/tax

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A guide to Limited Liability Partnerships (LLPs)

Posted by 1st Formations on Dec 18, 2014 in LLPs | 1 comment

A guide to Limited Liability Partnerships (LLPs)

A Limited Liability Partnership (LLP) is an alternative legal structure that was introduced in 2001 by the LLP Act 2000. It is an ideal set-up for the types of professions that normally operate as a traditional partnership, such as solicitors, accountancy firms and dental practices.

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Company names – everything you need to know

Posted by 1st Formations on Dec 17, 2014 in Company Names | 0 comments


Company names should be carefully considered before being registered with Companies House. Ideally, you should choose something that effectively conveys the purpose of your business and reflects its values. You must also ensure the name you choose has not been registered by another company and is permitted by law. This can be done easily by using Companies

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What is company formation?

Posted by 1st Formations on Dec 17, 2014 in Company Formation | 1 comment

company formation

Limited company formation is the process of incorporating a business at Companies House in the structure of a limited company. Upon incorporation, a private limited company becomes a separate legal entity; an ‘individual’ that is completely distinct from its owners and responsible for its own finances, assets and liabilities.

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What are limited company resolutions?

Posted by 1st Formations on Dec 16, 2014 in Limited Company | 0 comments

The company resolution paper

The majority of routine day-to-day decisions in private limited companies are made by directors. However, significant matters that go beyond the scope of a director’s powers must be addressed by company shareholders. These types of shareholders’ decisions require a resolution to be passed at a general meeting or in writing.

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