4. Running your business
Learning how to run a company means more than forming it. You’ll need to stay on top of ongoing duties like confirmation statements, annual accounts, and day-to-day admin. Many new founders would rather spend their time growing the business than being buried in admin. 1st Formations' guides make the critical ongoing duties simple, from filing confirmation statements to staying compliant in your first year of trading, so you can focus on what matters most.
Articles & Guides
Written by our in-house company experts, each guide offers practical advice, helping you cut through business admin and answer the questions new founders ask most often.
Annual filing requirements for UK limited companies
Learn what UK limited companies must file each year and when, to stay compliant with legal requirements.
Written byNicholas Campion
11 minutes
What is a confirmation statement and when is it due?
Learn what a confirmation statement is, why it’s important, and when your UK company must file it each year.
Written byNicholas Campion
8 minutes
First-time founder FAQs
Answers to common questions new startup founders have about starting, running, and growing their business.
Written byGraeme Donnelly
15 minutes
Our Online Company Manager
Explore tools to manage your company easily in our secure online platform.
Written byGraeme Donnelly
3 minutes
How to stay compliant in your first year of business
Discover the key tasks and deadlines to keep your new UK business legally compliant during its first year.
Written byNicholas Campion
9 minutes
What is a registered office address and why do I need one?
Understand what a registered office address is, why it's legally required for UK limited companies, and how to protect your privacy.
Written byNicholas Campion
6 minutes
What to do after setting up a limited company
Just registered your limited company and wondering what comes next? This post-formation guide explains exactly what to do after incorporating a UK limited company.
Written byNicholas Campion
11 minutes
How to get an EIN for a UK company
Find out how UK businesses can apply to the IRS for an EIN or US business tax ID. Discover when you might need an EIN, such as when selling to customers in the USA.
Written byGraeme Donnelly
6 minutes
What insurance does my UK business need?
UK businesses don't need insurance to incorporate, but once you start trading, some cover becomes compulsory and much more becomes essential. Here's what you need to know.
Written byGraeme Donnelly
11 minutes
All Categories
These resources are Category 4 of 6 in the Resource Hub. Explore the rest of the journey, from forming your company to running it day to day.
Watch helpful videos on startup advice
Do I need an accountant to do my Self Assessment tax return?
What is a company’s Unique Taxpayer Reference (UTR)?
10 tips on how to improve your company's cash flow
Why use 1st Formations to help run your business
Running a company brings ongoing admin, confirmation statements, annual accounts, and registered office duties. Our services take that off your plate, so you can focus on growth. Our All Inclusive with Accounting package keeps you on top of it all:
- Registered office mail handling
- Confirmation statement filing
- Support from your own company secretary
Things to consider when running your business
- Know your confirmation statement and annual accounts deadlines
- Set up a system for basic bookkeeping and record-keeping
- Register for VAT if you're approaching the threshold
- Understand your Corporation Tax obligations
- Decide how and when you'll pay yourself
- Keep your registered office and PSC details up to date
- Take out any business insurance you need
Our founder’s startup story
Learn more about Graeme Donnelly, CEO and founder of 1st Formations, and how his entrepreneurial journey began.
Read Graeme’s StoryExplore useful articles from our blog on running your business
What is a company registration number (CRN)?
A company registration number (CRN) is the unique identifier issued by Companies House when a company is incorporated in the UK. You can find your CRN on the certificate of incorporation, in Companies House correspondence, or by searching your company on the Companies House register. The CRN stays the same for the life of the company and links your business to its official record and filings.
What is the Government Gateway?
The Government Gateway is a secure login system used primarily for HMRC online services. You use it to file Self Assessment tax returns, submit Corporation Tax returns, manage VAT, and access your Business Tax Account. You create your Government Gateway user ID when you first register for services like Self Assessment or Corporation Tax. GOV.UK One Login is gradually replacing the Government Gateway across government services, including for HMRC.
The company formation process was streamlined and as simple as we needed it to be.
Robert Smallcombe, EcoHedge
Frequently Asked Questions
What happens if I miss my confirmation statement deadline?
Companies House can strike your company off the register if a confirmation statement is overdue, so it's worth setting a reminder well ahead of your filing date.
Do I need an accountant once my company is trading?
It isn't a legal requirement, but most directors find an accountant saves time and reduces the risk of errors once they're dealing with real income, expenses, and tax.
How do I pay myself from a limited company?
Directors are usually paid through a mix of salary and dividends. The right split depends on your circumstances, so it's worth getting tailored advice from an accountant.