I’ve completed the registration process, now what?
After you finish the application we submit it on your behalf to Companies House. It takes 1–3 days for most of the companies to confirm their registration and we’ll send you your documents as soon as that happens.
Your next step is to open a business account. It’s mandatory for limited companies in the UK to have their own separate bank account.
What is a virtual office?
The virtual office service offers you a professional business address to use for your business activities and receive mail, all without disclosing your personal address. This address will be publicly displayed on Companies House and can be accessed by anyone. Although a virtual office is not a physical location where you can work from, you can register your business with a virtual office address and utilise it for all your business correspondence. The biggest advantage is that it helps keep your personal address private, preventing it from being listed on the public register. Additionally, using a virtual office address instead of your personal one can enhance the credibility of your contracts, website, and more.
We partner with Hoxton Mix to provide our virtual office services. Hoxton Mix is conveniently located in Shoreditch, London, and their virtual office service is particularly suitable for entrepreneurs, freelancers, and startups seeking a prestigious business address in the City of London. Enjoy the benefits of a sought-after address without the need to rent physical office space, and boost your professional image among potential clients.
What if someone sends mail to my virtual office address?
Hoxton Mix provide same day mail handling and forwarding service. They’ll also scan your official government documents and send them to you via email, giving you digital copies of all important business information. You can get your mail wherever you are – whether that’s at home in the UK or abroad on business – and your business address will remain the same regardless.
Official written communications will be scanned from the following organisations:
- Companies House
- HM Revenue & Customs (HMRC)
- Government Gateway
- Inland Revenue
- Information Commissioner’s Office (ICO)
- Court documents (including Tribunals Services)
- Department of Work & Pensions (DWP)
- Intellectual Property Office (IPO)
- Office for National Statistics
Any mail received that doesn’t come from an official governmental body, or that cannot be scanned (like credit cards, parcels etc) can be forwarded on for an additional cost upon request. Any mail you don’t want forwarded on will be destroyed after 21 days.
Are company formation costs tax deductible?
The costs associated with the company incorporation are considered as one-off capital expenses or CapEx, which is the same as the cost of acquiring, upgrading, and maintaining the company's physical assets like property, equipment, buildings, technology, or even plant and machinery.
The capital expenses, unlike revenue expenses, are not tax deductible. For an expense to be deductible, it must be directly related to the trade. Examples of revenue expenses are salaries, rent, electricity and water bills, gas, advertising, phone bill, raw materials expenses etc. Company formation costs do not meet this criteria, because they happen before the company starts trading.
However, all the costs related to keeping the company's share register, the printing of annual accounts, the holding of shareholders’ annual meetings etc. are treated as trading expenses and are tax deductible.
In addition, if you paid for the company incorporation cost with your personal money, the company can reimburse you.