Starting a business is exciting, but ensuring compliance from day one is crucial for long-term success. Coddan provides expert support to help your business hit the ground running while staying fully compliant with UK regulations.

With over 20 years in Company Formation and Post Incorporation Support and Secretarial Compliance, Coddan is one of the leading service providers in the UK. Entrusting Post Incorporation Compliance of your company to Coddan is a valuable investment for new businesses. This will help you establish a solid foundation and comply with all legal requirements from day one.

• ✓ Register for Corporation Tax.
  Establish a new company by completing the necessary legal procedures and paperwork. Following the formation of your company, ensure you register for Corporation Tax with the appropriate tax authorities to comply with regulations. This includes providing essential information about your business, such as its structure, nature of operations, and expected revenue, to ensure accurate tax assessment and compliance.
• ✓ Open a Business Bank Account.
  Establish a new company by registering it with the relevant government authorities and fulfilling all legal requirements. Once the company is officially set up, proceed to open a business bank account. This will involve selecting a bank that meets your business needs, gathering the necessary documentation (such as your company's registration certificate, tax identification number, and personal identification), and completing the application process to ensure you can effectively manage your business finances.
• ✓ Secure a Professional Business Address (Optional).
  Establish a new company and secure a professional business address in Scotland (Edinburgh), Northern Ireland (Belfast), England, and Wales (London, Manchester, Cambridge, Birmingham). Launch a new company and obtain a professional business address across various locations, including Scotland (Edinburgh), Northern Ireland (Belfast), and key cities in England and Wales, such as London, Manchester, Cambridge, and Birmingham. This will not only enhance your business credibility but also provide you with a strategic presence in these vital regions.
• ✓ Set Up Your Accounting and Bookkeeping Systems.
  Establish a new company by carefully planning your business structure and defining your mission and goals. Once the company is created, implement robust accounting and bookkeeping systems to effectively manage your finances. This includes selecting accounting software that meets your needs, setting up a chart of accounts, and developing processes for tracking income and expenses. Additionally, consider setting up a system for invoicing, payroll management, and financial reporting to ensure accurate and timely financial oversight.
• ✓ Register for VAT.
  Establish a new company and complete the registration process for Value Added Tax (VAT). This involves selecting a suitable business structure, such as a sole proprietorship, partnership, or corporation, and ensuring all necessary documentation is prepared for submission. After setting up the company, you will need to register for VAT with the appropriate tax authority, providing details about your business activities and expected turnover. Ensure you understand your obligations regarding VAT collection, invoicing, and reporting to comply with legal requirements.
• ✓ Set Up Payroll.
  Register a new company and establish a payroll system for your employees. This process involves selecting a business structure, such as a corporation or LLC, filing the necessary paperwork with the appropriate government authorities, and obtaining any required licenses or permits. After the company is registered, set up a payroll system that includes employee classifications, wage calculations, tax withholdings, and compliance with local labor laws to ensure timely and accurate payment to your staff.
• ✓ Understand Your Director's Responsibilities.
  Starting a new company involves several crucial steps, including defining your business idea, conducting market research, and developing a comprehensive business plan. Once your company is established, it’s essential to understand your legal and fiduciary responsibilities as a director. This includes ensuring compliance with applicable laws and regulations, safeguarding the interests of shareholders, and making informed decisions that promote the company's growth and sustainability. Being aware of these responsibilities will help you navigate the complexities of business management effectively.
• ✓ Maintain Statutory Records & Compliance.
  Establish a new company and ensure the maintenance of all statutory records and compliance requirements. This includes registering the company with the appropriate governmental authorities, keeping detailed financial records, filing necessary taxes, and adhering to industry regulations. Regularly review and update compliance documents to guarantee that all aspects of the business operate within legal guidelines.
• ✓ File Your Confirmation Statement & Annual Accounts.
  Establish a new company by completing the necessary registration process, which involves selecting a suitable company name, choosing the type of business structure, and submitting the required documents to the relevant authorities. Once your company is registered, it's essential to file your confirmation statement annually, which provides up-to-date information about your company’s directors, shareholders, and registered office address. Additionally, prepare and submit your annual accounts, which must include a balance sheet, profit and loss account, and any necessary notes, ensuring compliance with the applicable financial reporting regulations.
• ✓ Get Business Insurance.
  Launch a new company and secure comprehensive business insurance to protect your assets and mitigate risks. This involves creating a detailed business plan, choosing a suitable legal structure, and identifying the necessary coverage options that align with the nature of your business activities.

✓Register for Corporation Tax

Your business can commence trading as soon as you receive confirmation of your registration from Companies House, along with your Registration Number and Certificate of Incorporation.

Following your incorporation, it is necessary to register your business for Corporation Tax with HM Revenue and Customs (HMRC). This step is crucial for HMRC to recognise your business's obligation to pay corporation tax.

Once your company is registered, HMRC will automatically issue a Unique Tax Reference (UTR) to your business. This reference will be sent via letter to your Company’s Registered Office address within 1 to 3 weeks after your limited company registration. Therefore, it is imperative to ensure that your Company’s Registered Office Address is accurate and accessible.

It is important to keep this UTR secure, as it will be required for all correspondence with the UK Tax office concerning your Corporation Tax obligations.

You are required to register for Corporation Tax with HMRC within three months of beginning to trade.

If you have registered your company to Protect Your Company Name and are uncertain about when your business will become operational, you must inform HMRC to ensure they maintain accurate records of your business.

✓Open a Business Bank Account

✓Secure a Professional Business Address (Optional)

✓Set Up Your Accounting and Bookkeeping Systems

✓Register for VAT

✓Set Up Payroll

✓Understand Your Director's Responsibilities

✓Maintain Statutory Records & Compliance

✓File Your Confirmation Statement & Annual Accounts

✓Get Business Insurance