Home / Post Incorporation Activities
After 121 Company Formation has incorporated your new company, you will receive an email with the statutory documents in PDF format. This will include your:
As soon as a new company is incorporated, Companies House will
automatically notify HMRC who will issue your company with its
unique tax reference number (UTR). You will need your UTR to
register for
corporation tax
and all other corporation tax matters including filing the
company’s accounts, its tax return, and any payments that
may be due in the future.
The letter containing details of the company’s UTR will be
sent to the company’s registered address together with all
the necessary information regarding registering for corporation
tax. The most convenient method of registering for corporation tax
is to do so online using the activation code supplied by HMRC.
However, this will need to be done within 28 days or the
activation code will expire.
Alternatively, you can register for corporation tax within three
months of the incorporation of the company by completing the forms
and submitting them via the mail.
If your newly incorporated company will be dormant for a period of
time, you will not need to register for corporation tax until it
actually begins trading. However, HMRC must be informed of this in
writing as soon as possible.
Corporation tax is currently charged at 20% of the company’s
profits and this is normally due to be paid within nine months of
the company’s year end by completing the CT41G form (sent by
HMRC along with the UTR number) and returning it by mail.
However, at the current time this has been extended to 12 months
due to the impact of COVID-19.
It is not a legal requirement for a limited company to open a
business bank account
. However, this is recommended so that as a separate legal entity,
the company’s financial affairs are handled from a dedicated
bank account.
121 Company Formation works with various financial institutions
that provide a vast array of company bank account services to help
your company get off to a flying start.
When you use our services to set up a UK business , we will
automatically offer you the option of a fast-track referral
service for
business banking services
with several companies including Barclays, Anna, Counting Up,
Cashplus Business Account, etc.
The application for and approval of a new business banking account
is entirely at the discretion of the financial institution, and
subject to their own eligibility criteria.
Unfortunately, currently we do not offer company bank accounts for
non-UK resident customers.
Every limited company is required by law to file an
annual financial report
which gives an account of its financial activities over a specific
accounting period, usually 12 months.
121 Company Formation has an experienced accounting company that
specialises in offering sound business advice to start-up, small
and medium sized companies, assists them in running their
operations in the most tax efficient way, and prepares their
year-end accounts. We also submit the company accounts along with
all associated documents which includes:
Order online, call or live chat with our friendly team to complete your order