Noob Questions About a New Created Company

Claudiu

Free Member
Mar 31, 2019
2
0
Windsor, England
Hello,

I'm a software developer and I've created a LTD company for a project I'm developing. But, unfortunately, this "company" domain is really out from my knowledge base.

I hope this will be useful for other first timers.

This is the context:
  • I'm the owner and the only director of the company;
  • I have the Registered Office Address in London hosted by a 3rd party company. Let's say, the address is "R" (remote);
  • The Business Address is "R1" - basically is the same as "R";
  • The Service Address for the director is "R2" - basically is the same as "R";
  • My residency address is "H" (home) - I prefer to not use this address.
Below I'll enumerate all my questions:
  1. The "First Board Meeting"
    a) Which address should I use for the meeting ("Held at:" )? -- I've used "R";
    b) Who can be the "Auditor"? Or, should I have one? Considering that I'm just starting and I'll only inject capital from my stash;
    c) I've got the HMRC UTR code. Should I set-up the Corporation Tax Services even if the company is only consuming money for the moment?
  2. The People with Significant Control (PSC) -- Should I use my name and my service address "R" or there is required the residential address "H"?
  3. What is the procedure to put money from my personal account into my business account? -- Is used a specific form to fill, as a loan or capital injection?
  4. I found on internet template packages like "Resolution of Sole Director (Minutes)", or "Loan Agreement Templates", do you think these are useful or there is another way to deal with this kind of documents?
I'm aware these are really basic questions but I really don't know whom I should to ask, the internet wasn't very helpful...

Thank you a lot.
 

Scalloway

Free Member
Jun 6, 2010
18,414
12
4,191
Shetland Islands
1a The address you held the meeting .

1b You won't need an auditor until your business has grown significantly. You should get an accountant though ASAP.

1c If you register for Corporation Tax now you can set losses against future profits.

2 You are the PSC.

3. Money injected goes to Director's Loan Account (DLA).
 
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