So many comp directors are unaware of their annual filing obligations...this vid is a great help with making it clear what needs to be done!
@1stformations3 жыл бұрын
Thanks Big Mizzle - totally agree. Let us know if you think there are anything else you think company directors may be unaware of - so we can try to cover them in a future video!
@robkeys21153 жыл бұрын
Life saver! This is the first place where I have actually been able to understand what I should be filing and when.
@1stformations3 жыл бұрын
It's great to read we've been able to clear up any misunderstandings you may have had about your filing requirements Rob - we did feel this hasn't been addressed elsewhere, so we felt it was important we made a video clearing this up for people.
@annalisemaguire96303 жыл бұрын
Very useful information and expertly delivered as always!!
@1stformations3 жыл бұрын
Pleased you found our delivery to be of a high standard, Annalise.
@PriscilaDexheimer3 жыл бұрын
smashing! so many questions answered in a single video, thanks for sharing this valuable information!
@1stformations3 жыл бұрын
Thanks Priscila - pleased we were able to squeeze in a lot of answers of use to you!
@rakheepatel98153 жыл бұрын
Thank you for taking the time to explain all of the requirements in such a concise format :)
@1stformations3 жыл бұрын
Thanks Rakhee - glad we were able to condense the information into small chunks to help you!
@samb31513 жыл бұрын
Excellent information! Helping to avoid penalties, particularly during these Covid times is crucial!
@1stformations3 жыл бұрын
Agreed Sam - it is important companies are are not wasting a penny in these difficult times.
@vx91573 жыл бұрын
Thank you so much for sharing! 1st formations is the best!😊
@1stformations3 жыл бұрын
Thank you for your kind words, Next Mat. If there are any other topics you would like us to cover, please let us know!
@paultavener15443 жыл бұрын
Another brilliant video!
@1stformations3 жыл бұрын
Thanks Paul - glad you are enjoying our Whiteboard Thursday series.
@sabakebede60563 жыл бұрын
So easy to understand - thank you for the hard work you put into these great videos!
@1stformations3 жыл бұрын
You're very welcome! We appreciate your feedback, have you seen the rest of our channel?
@deanodelpleash3 жыл бұрын
Thank you for the video. This is helping a lot
@1stformations3 жыл бұрын
Thanks Deano - glad you found this video helpful.
@hawkdene1233 жыл бұрын
Great video and better fashion sense 😍
@1stformations3 жыл бұрын
Good to see you are happy with Nicholas' sartorial elegance, James.
@anguspark20533 жыл бұрын
Very informative! A go to channel for quick and easy to understand information!
@1stformations3 жыл бұрын
Thanks Angus. Glad you are finding our new channel useful - watch this space for this Thursday's new video.
@johncarpenter86513 жыл бұрын
Very useful video on a confusing topic, cheers!
@1stformations3 жыл бұрын
Pleased we were able to untangle this confusing topic for you, John.
@m.kaiserkhan84302 жыл бұрын
Excellent informative clip
@1stformations2 жыл бұрын
Glad you enjoyed it
@anjalidhulipala33623 жыл бұрын
Fantastic content!
@1stformations3 жыл бұрын
Thanks for your kind praise, Anjali!
@douglaschown3 жыл бұрын
Very informative!
@1stformations3 жыл бұрын
Thank you for your kind words, Douglas!
@Iliketrainsbrooooom3 жыл бұрын
Well done Nicholas, this is so useful!!!
@1stformations3 жыл бұрын
Glad you found this video helpful, Tommaso.
@johndaughtrey41283 жыл бұрын
great video, really useful information for companies!
@1stformations3 жыл бұрын
Thanks John, glad you found it useful.
@darkdancer19833 жыл бұрын
Excellent explanation and what a sharp look 👌
@1stformations3 жыл бұрын
Thanks Peter - Nicholas does try to be easy on the eye.... at times...
@darkdancer19833 жыл бұрын
@@1stformations I wouldn't go as far as easy on the eye, but certainly a sharp look!
@kathleendoyle76153 жыл бұрын
very informative Nick, well done p.s. bring back the bow ties :)
@1stformations3 жыл бұрын
Thanks Kathleen, keep your eyes peeled for the bow tie's re-emergence soon!
@polly52733 жыл бұрын
Very useful and informative!
@1stformations3 жыл бұрын
Thank you for your kind words, Polina.
@graemedonnelly20393 жыл бұрын
Thanks for another great video!
@1stformations3 жыл бұрын
We're glad you are enjoying our Whiteboard Thursday series, Graeme!
@lydialewis43263 жыл бұрын
Does one pays employed tax twice with self assessment? The employed details are submitted by employers and seem to get added to self employed in self assessment.
@1stformations3 жыл бұрын
Thanks for your Question Lydia! The employee pays tax via PAYE, which HMRC works out by it being inputted into the Self Assessment. Any additional tax owed after filing a self assessment will not be tax previously paid by PAYE, therefore you will not be taxed twice. Does this help you?
@mclasa2 жыл бұрын
Hello Nick what is the consequence of not filling a change on a capital structure of the company?
@1stformations2 жыл бұрын
Hi, thanks for the question. The general rule is that the directors must ensure that any changes to a company’s capital structure are reported to Companies House. Failure to do so usually leads to them being liable, often to a fine - for example, if there has been a re-designation (or “re-classification”) of shares, and the company has not notified the Registrar of this change, they may be fined. In instances where the directors have discovered they have not updated the capital structure at Companies House, they should endeavour to do so as quickly as possible. We hope that helps.
@MhJ8347 Жыл бұрын
Thank you. Having a salary declared for the director is it mandatory? Or I can do that when I really want to pay my self the salary?
@1stformations Жыл бұрын
It is not mandatory to take a salary for a director; however, ordinarily directors would be paid monthly and not in one lump sum, which could be seen as suspicious by HMRC. Do you want to take money out of the company in large chunks?
@MhJ8347 Жыл бұрын
@@1stformations thank you for the response, I have created a ltd to start a business in amazon. So I dont want to pay any salary, at least until the business is stable. Basically I am not worried about it as its not my main job. Then maybe later if the business goes well I can setup a fix salary for each month..
@1stformations Жыл бұрын
Thanks for your reply, Hassan. We would recommend checking out this blog article on how to pay yourself from a limited company in the most tax-efficient manner: www.1stformations.co.uk/blog/most-tax-efficient-way-to-pay-myself-from-my-limited-company/ Do you have any questions after reading this?
@bobwilliamso1802 жыл бұрын
My company has not yet started trading yet to I have to register as dormant
@1stformations2 жыл бұрын
Thanks for your question, Bob. Yes, if your company has not yet started trading, you must still inform HMRC that your company is dormant. Do you know how to do this?