Uniwide Formations

Uniwide Formations UK company formation, London registered office address, company secretarial, and corporate services for businesses.

Statement of financial position – the company accounts document many directors overlook.A company statement of financial...
15/05/2026

Statement of financial position – the company accounts document many directors overlook.

A company statement of financial position is the formal name for what many people still call a balance sheet. For UK limited companies 🇬🇧, it forms part of the annual accounts filed with Companies House.

At Uniwide Formations, we often see that this document is treated as a filing requirement only. In practice, it can tell directors far more.

It shows the company’s position at one specific date:
• assets – what the company owns
• liabilities – what the company owes
• equity – what belongs to shareholders after liabilities are deducted

The figures must follow the equation:
Assets = Liabilities + Equity

Current assets, such as bank balances, stock, and customer debts, should be read against current liabilities, such as supplier bills, tax due, and short-term loans. This can show whether the company may face pressure paying bills over the next 12 months.

The statement also matters for dividends, borrowing, investor checks, and the directors’ going concern assessment 📄.

Self Assessment for limited company directors – the points that most often get missed.Self Assessment for limited compan...
12/05/2026

Self Assessment for limited company directors – the points that most often get missed.

Self Assessment for limited company directors is not just about declaring a salary. In our work at Uniwide Formations, we often see confusion where directors assume the company’s Corporation Tax compliance covers their personal tax position. It does not. 📌

Most directors must file because dividends are not taxed through Pay As You Earn. The same applies if you receive rental income, savings interest above your allowance, capital gains, benefits in kind, or have an overdrawn director’s loan account.

A few points matter more than many realise:
• first-time registration is due by 5 October after the end of the relevant tax year, using form SA1
• filing late can trigger an automatic £100 penalty even if no tax is due
• if your tax bill is more than £1,000, HM Revenue and Customs may ask for advance payments towards the next year’s bill
• for 2025 to 2026 returns, online filing and payment are due by 31 January 2027 🇬🇧

Directors with salary and dividends must also use the correct dividend tax rates and current £500 dividend allowance. Small errors can lead to unnecessary queries from HM Revenue and Customs.

Memorandum and Articles of Association – what every UK company must haveA company’s memorandum of association and articl...
07/05/2026

Memorandum and Articles of Association – what every UK company must have

A company’s memorandum of association and articles of association do very different jobs, and confusing them can cause real problems later. In our work at Uniwide Formations, we often see that many directors only look at these documents when a dispute or filing issue appears ⚖️

The memorandum is the fixed record of incorporation. It confirms that the original subscribers agreed to form the company and, for a company limited by shares, to take at least one share each. Once filed, it cannot be changed.

The articles are different. They are the company’s internal rulebook. They set out directors’ powers, voting rights, share transfers, meetings, dividends, and how decisions must be made.

A key point many people miss in the UK 🇬🇧 is this: articles are public, but a shareholders’ agreement is private. That matters if shareholders want to keep sensitive commercial arrangements off the Companies House register.

If articles are amended, at least 75% of shareholders must approve the change, and the updated version must be filed within 15 days.

What VAT is and how it works for UK businesses 🇬🇧Value Added Tax, or VAT, is a tax charged on most goods and services so...
04/05/2026

What VAT is and how it works for UK businesses 🇬🇧

Value Added Tax, or VAT, is a tax charged on most goods and services sold in the UK. We often find at Uniwide Formations that many first-time business owners understand that VAT must be added to sales, but are less clear on how the full system works in practice

The key point is this: if your business is VAT-registered, you usually charge VAT on your sales and may also reclaim VAT paid on eligible business purchases. You then report the difference to His Majesty’s Revenue and Customs through a VAT return.

In simple terms:
• output VAT – the VAT you charge customers
• input VAT – the VAT you pay on business costs
• VAT bill or refund – the difference between the two 📊

VAT registration can be compulsory once your taxable turnover passes the registration threshold, but some businesses choose voluntary registration earlier depending on how they trade.

Good record-keeping matters because VAT applies to invoices, returns, and the timing of transactions.

Identity verification is now mandatory for UK company directors and PSCs.Since 18 November 2025, every director and Pers...
27/04/2026

Identity verification is now mandatory for UK company directors and PSCs.

Since 18 November 2025, every director and Person with Significant Control of a UK company must verify their identity under the Economic Crime and Corporate Transparency Act 2023. At Uniwide Formations, we are helping officers meet their individual deadlines, which run through to around mid-November 2026.

🇬🇧 Existing directors must verify before the first confirmation statement due after 18 November 2025. Until every director is verified, Companies House will reject the filing, which can stall banking, tenders and supplier onboarding.

📋 PSCs who are not directors receive an individual 14-day window tied to their month of birth.

🔑 Verification is one-off. You receive an 11-character personal code that stays the same for every role, then link it to each company separately.

Two approved routes: GOV.UK One Login with specified photo ID, or an Authorised Corporate Service Provider supervised for UK anti-money laundering compliance.

Acting as an unverified director can be a criminal offence and may support disqualification for up to 15 years.

Sole trader or limited company? A question that shapes more than your tax bill.New UK founders bring this question to us...
24/04/2026

Sole trader or limited company? A question that shapes more than your tax bill.

New UK founders bring this question to us at Uniwide Formations almost every week, and the right answer rarely comes down to tax alone. 🇬🇧

A few points worth weighing:

▪️ A limited company protects personal assets from business debts, unless shareholders have signed personal guarantees.
▪️ Sole traders pay income tax and National Insurance on profits. Companies pay corporation tax first, with owners then drawing salary, dividends or a mix – often more efficient once profits grow.
▪️ Company accounts, director details and the registered address appear on the Companies House register. Sole trader records stay private.

You can switch from sole trader to a limited company later, but contracts, banking and tax affairs all have to follow. Getting the structure right from day one usually costs less than changing it later. 💼

14/04/2026

Setting up a UK limited company 🇬🇧 is often fast, but the smart move is setting it up properly

In this Reel, we cover 5 essentials:
✅ right company structure
✅ company name checks
✅ SIC code and registered office
✅ shares and ownership
✅ filing and identity checks

A better setup at the start can save time, money, and stress later. 📌

Stamp duty on share transfers: key rules UK buyers must knowStamp duty on share transfers applies when existing shares i...
09/04/2026

Stamp duty on share transfers: key rules UK buyers must know

Stamp duty on share transfers applies when existing shares in a UK company are bought using a paper stock transfer form. The buyer pays it, not the seller, and the duty can arise as soon as the form is signed. 📄

A few points are often missed:
• Stamp duty is usually 0.5% of the price paid, rounded up to the nearest £5
• It applies only if the consideration is over £1,000 for paper transfers
• Electronic transfers can fall under stamp duty reserve tax, which also uses 0.5%, but without the £1,000 threshold and with rounding to the nearest penny
• If shares are given as a genuine gift with no consideration, stamp duty is not payable
• Reliefs such as group relief are not automatic – a formal claim to His Majesty’s Revenue and Customs must be made

Late payment can lead to penalties and interest. More importantly, an unstamped stock transfer form can stop the buyer being registered as the shareholder in the company’s records. 🇬🇧

Continue reading on our website – the link is in the first comment 🔎

Director’s loans explained: key tax rules UK company directors must not missDirector’s loans can look simple, but the ta...
08/04/2026

Director’s loans explained: key tax rules UK company directors must not miss

Director’s loans can look simple, but the tax rules are not. In practice, a director’s loan is money taken from the company that is not salary, dividends, repaid expenses, or repayment of money the director previously put in.

A few points matter most 👇

If an overdrawn Director’s Loan Account is still unpaid 9 months and 1 day after the company year end, the company may face a 33.75% Corporation Tax charge.

If the loan goes above £10,000 and no interest is charged at HMRC’s official rate, it may become a benefit in kind. That can mean personal tax reporting for the director and Class 1A National Insurance for the company 📌

There is also a legal point many directors overlook. Loans above £10,000 usually require shareholder approval and must be disclosed in the annual accounts filed at Companies House.

Short-term repayment tactics can also fail. Anti-avoidance rules on “bed and breakfasting” can ignore a repayment if similar borrowing follows soon after.

Continue reading on our website – link in the first comment 🔎

Annual Accounts for a UK Limited Company – what every director must fileAnnual accounts for a UK limited company are a l...
02/04/2026

Annual Accounts for a UK Limited Company – what every director must file

Annual accounts for a UK limited company are a legal requirement for every company, including dormant companies and newly formed companies 🇬🇧 Many directors miss this point because a company does not have to trade or make a profit to have filing duties.

A full set of statutory accounts can include a balance sheet, profit and loss account, notes to the accounts, a directors’ report, and sometimes an auditor’s report. What you must prepare depends on company size. Micro-entities and small companies can often file simpler accounts at Companies House, but full accounts must still be prepared for His Majesty’s Revenue and Customs and for shareholders.

One detail that matters more than many expect is the accounting reference date. It sets your financial year-end and drives your filing deadlines 📅 Filing with Companies House does not cover your filing with His Majesty’s Revenue and Customs. They are separate duties with separate deadlines.

If accounts are filed late, penalties are automatic and increase with the delay. If your accounts are rejected, the deadline does not pause.

Continue reading on our website – the link is in the first comment 👇

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