Statutory Compliance

Starting a business in the UK involves navigating a large maze of regulations, an area where we can help businesses like you to remain compliant to statutory compliance and regulation; and grow your business uninterruptedly. All UK-based legal business entities are responsible for filing statutory documents every year to Companies House and HM Revenue & Customs (HMRC). Our team delivers professional statutory compliance services, including completion of registers, submitting annual returns, accounts and tax returns.

Our experts at Bloom Financial continuously maintain statutory registers, arrange meetings, and send forms to Companies House, freeing the directors from the documentation process to run the business. We fulfil the registration according to the business structure, set up compliance for VAT, payroll and pension, tax legislations and support businesses to meet annual statutory compliance obligations. We critically observe the legislation your company needs to comply with and apprehend the business’ structure of sole traders, limited companies, small-medium enterprises, and partnerships.

Companies House

Companies House is a government body that deals with the incorporation and dissolution of companies, examining and storing company information, and making information available to the public. If you run a company in the UK, you need to comply with the Companies Act 2006. This act puts liability on those responsible for the company’s governance to submit company annual reports, memorandum and articles of association, any change in the registers of the company promptly. We can help you in the following areas in relation to Companies House compliance:

1. Annual Accounts
2. Confirmation Statement            
3. Company Secretarial Services
4. Draft formal memorandum for any change in the company register

• Annual Accounts

Companies Act 2006 requires directors of the companies to prepare annual reports and accounts for their companies that must give a true and fair view of the assets, liabilities, financial position and profit or loss of an individual company or a group of companies. These annual accounts must be submitted to the Companies House within specified deadlines; otherwise, Companies House charge late filing penalties for not submitting annual accounts on time.

We offer a wide range of statutory services to partnerships, sole traders, sub-contractors, and companies. Quality financial and accounting services are essential to help you manage the reports and look at the company’s financial position.

Contact us to get your annual accounts prepared and submitted on time.

• Confirmation Statements

The Board of directors is required to file a confirmation statement to Companies House on time. The confirmation statement entails the registered company’s office address, shareholders’ details, Standard Industry Classification (SIC) codes and amount of shared capital. BODs get fined personally for non-compliance if the confirmation statements filing process is not completed timely. Also, late filing is considered a criminal offence that can lead to a strike off the company’s registration and failure to comply.

Bloom Financials offers a standard confirmation statement filing service within the due date with up-to-date business information. Our team ensures the company to be legal and compliant to grow its annual business returns. We online handle all filing of statements and check all business details to avoid any catastrophic situation. Our experts at Bloom Financials will file annual accounts confirmation statements in case of a company is dormant.

• Company Secretarial Services

Large businesses often function with complex group infrastructures, which magnifies the additional compliance and governance burden. The associated costs to maintain such structures are significant. Corporates have to fulfil various administrative obligations to correctly operate a company that often refers to the company’s secretarial work. Companies, thus, frequently need to review entity governance and robust legal entity management functions to manage costs effectively. As a result of the growing governance needs and compliance load, organisations are increasingly considering advanced and swift company secretarial services to boost productivity within their budgets.

We offer extensive secretarial services to support organisations to help them function efficiently and meet their statutory compliance requirements. Our secretarial team works across multiple sectors; we understand company’s operational needs, the local market, and all its associated legal & regulatory framework when performing secretarial work for our clients.

Secretarial support can be crucial to reducing risks and limiting exposure to the costs of compliance default, such as fines, prosecution, or director disqualifications. Therefore, we are here to handle every aspect of your company’s secretarial need in every jurisdiction where you do business. Our expert team comprises high-calibre professionals who deliver:

1.  Register a private or public company (IN01)
2.  Submission of annual accounts (AA01)
3.  Submission of Dormant Accounts (AA02)
4.  Filing of confirmation statement (CS01) to Companies House
5.  Change of company name (NM01)
6.  Change of registered office address (AD01)
7.  Appoint a director (AP01)
8.  Appoint a secretary (AP03)
9.  Change of details of director (CH01)
10. Terminate an appointment of a director (TM01)
11. Register a single alternative inspection location (AD02)
12. Move your company’s records to the registered office (AD04)
13. Give notice of individual person with significant control (PSC01)
14. Return of allotment of shares (SH01)
15. Consolidate, sub-divide, redeem shares or re-convert stock into shares (SH02)
16. Notify a purchase of own shares (SH03)
17. Notify a cancellation of shares (SH06)
18. Strike off a company from the register (DS01)
19. Withdraw a striking off application by company (DS02)
20. Apply for administrative restoration to the register (RT01)
21. Give notice of a special resolution on change of name
22. Give notice of a written special resolution on change of name

• Memorandums Drafting

Companies need to write different memorandums or memos when they want to make an announcement, such as appointment or retirement of a company director, issue, or transfer of shares, etc. Our expert content writers can draft different memos for your company for any announcement or record a financial transaction, for example, the transfer of shares.

If you want us to draft any formal memorandum for your business to file it with the Companies House or your record keeping, please click the link below to get the quick quote to join us.

HMRC

HM Revenue and Customs (HMRC) is a government body that deals in revenue collection on behalf of the UK Government in the form of tax and provides tax credits and benefits to the public. If you run a business in the UK as a sole trader, limited company, or partnership, you need to comply with HMRC’s rules and regulations; and submit necessary returns and declarations to this Government body. Bloom Financials can help you identify what sort of compliance you need to follow in relation to your business, as well as prepare and submit mandatory returns and declarations on your behalf. We can help you in the following areas in relation to HMRC compliance:

1. Registering for tax, duty, or scheme with HMRC
2. Corporation Tax returns (CT 600)
3. Personal Self-assessment (SA 100)
4. Value-added Tax Returns (VAT)
5. Pay As You Earn Returns (PAYE)
6. Construction Industry Scheme (CIS)
7. HMRC Compliance Checks

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Other Compliance

Apart from HMRC and Companies House, your business may require fulfilling other mandatory compliance based on what type of business you carry out. It may include registering your business with the FCA (Financials Conduct Authority), CQC (Care Quality Commission), ICO (Information Commissioner’s Office), or you might have to have certain business insurance covers in place or provide information to ONS (Office for National Statistics) surveys. Bloom Financials can guide you on what types of compliance you need by analysing your business nature and needs.