Category Archives: Company Formation

PSC Registers – What are the new company formation rules?


 What is PSC? There are a number of changes for UK limited companies being introduced today (30th June 2016). One of these is the introduction of person with significant influence or control (PSC) registers. A person with significant influence or control is an individual who: owns more than 25% of a company’s shares holds more […]

BREXIT UNKNOWNS: Will EU downgrade the UK to “third country” status due to weak anti-money laundering regulation?


In the light of the recent Panama Papers leaks there has been a lot of concern about the use of limited companies for money laundering and tax avoidance. David Cameron has pledged to crack down on the abuse of limited companies but there are still serious weaknesses in the UK systems. The EU Commissions 4th […]

Clamp Down on Public Sector use of Personal Companies


George Osborne announced a new clamp down on the use of “personal service” limited companies in today’s budget. “Personal service” companies are where a person who is working as a freelancer, consultant or agency employee forms their own limited company and uses it to bill their employer. The employees can work the funds coming through […]

2016 Company Formation Trend Predictions – Part 2


In the first part of our 2016 company formation predictions we discussed how tax changes may lead to a decrease in the number of contract and agency workers forming limited companies. Another tax change is responsible for our second prediction for company formations in 2016. A series of changes announced over the last year mean […]

76% of UK Businesses Don’t Employ Anyone


The latest figures from the Office for National Statistics (ONS) show that the trend towards self-employments, contracting and freelance work is continuing. The latest figures for 2015 show that there are 5.4 million businesses in the UK. 1.3 million of them employ more than one person but the remaining 4.1 million businesses don’t employ anyone […]

What is really driving the growth in new UK companies?


We recently blogged about the reports that appear on an almost weekly basis about the number of new companies being formed in the UK. Most of these reports use the same dodgy stats to announce that there are a record breaking number of new businesses starting in the UK. This is normally trumpeted as a […]