Demo Company
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Personal details
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Accounting details
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We have submitted a professional clearance letter to your previous accountants. This is a formal notice for them to provide us with all the documents and authorizations we need to manage your account.
We are currently working with your previous accountants to switch your account over to GoForma.
We have received your accounting details. Your accountant will be in touch with further information.
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Company details
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Use the company name availability checker below to ensure that you get a company name that is not currently used.
This application is to register a Limited Company through GoForma. Please ensure you understand your Director requirements before submitting.
Check Company NameTo Confirm, we will be registered a Limited Company on your behalf, this is not a sole trader application.
Please ensure you have completed our ID verification check and personal details forms. We will not be able to start your application until we have these details.
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Bank details
Submit your basic business bank details. If you are on an accounting package with FreeAgent and bank with RBS, NatWest or Mettle then we can offer a £10/mo discount on your package.
GoForma Dashboard
Account Summary
Please note, the current data you see in your dashboard is demo data and will be replaced once your account is active.
You currently have 3 unreconciled transactions and your last login to FreeAgent was 22/10/2020.
Your bank balance is £5,400 and you have a total of £3,000 retained funds you could withdraw. You've already taken £38,000 in dividends this year from income of £10,000 and claimed £4,000 in expenses.
Recent Notes:
We are waiting for your FreeAgent to get set up.
Go to FreeAgentFreeAgent Not ActivatedVAT Filing & Payment
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Your VAT filing period is N/A, so your next VAT filing date is N/A. Your VAT number is N/A.
Company Year End
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October 31, 2022
Your Company Year End is on N/A. Your Company Number is N/A.
Company Accounts
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July 4, 2023
Your Company Accounts are due 9 months after your company Year End on N/A. This will cover your full company year ending on N/A.
Corporation Tax
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July 6, 2023
Your Corporation Tax return is due on N/A and your current estimated tax is N/A.
Confirmation Statement
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October 17, 2023
Your Confirmation Statement is due on N/A. This will cover the period up to N/A.
Your Current Accounts
Bank Balance
£1,000
Income
£25,000
Expenses
£3,000
Corporation Tax
£4,000
Dividends Taken
£18,000
Funds Available
£3,000
Sales
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You have generated X in sales for your company this financial year.
You currently have X in funds available to be withdrawn which includes current retained profits of X and previous retained profits of X.
12 Month Sales Overview:
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Outstanding Invoices:
Invoice Ref
Value
Value
Value
Status
Value
Amount Due
Value
Contact
Value
Comments
Bank Account
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You have X unreconciled transactions in your accounts right now.
Account Name
Value
Last Activity Date
Value
Last Updated At
Value
Status
Value
Total Transactions
Value
Unexplained Transactions
Value
Transactions for Review
Value
Corporation Tax
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Your Corporation Tax Liability for the current financial year is X and this will be due on X.
Given your total income of X and expenses of X, then your operating profit is currently X.
The current UK corporation tax rate is 19% which is applied on your operating profit, so you will owe X.
Here's some key things about your corporation tax.
Company UTR Number:
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Corporation Tax Amount Due:
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Corporation Tax Submission Date:
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Corporation Tax Payment Due:
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UK Corporation Tax Rate:
19%
Company Year End:
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Key Resources:
Company Accounts
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Your Company Accounts are due on X.
This covers your accounting period from X to X.
You have 9 months to file your company accounts after your company year end but it's important to get them in as early as possible to avoid any filing penalties.
Your company incorporation date is X.
Company Filing Penalties:
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Company Registration Number:
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Next Accounts Due:
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Next Accounts Made up To:
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Key Resources:
Expenses
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You have claimed X in expenses for your company this financial year.
12 Month Expenses Overview:
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Expense Categories Claimed:
Accommodation and Meals
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Accountancy Fees
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Advertising and Promotion
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Books and Journals
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Business Entertaining
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Charitable Donations
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Childcare Vouchers
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Computer Hardware
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Computer Software
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Consultancy Fees
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Corporation Tax Penalty
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Formation Costs
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Insurance
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Interest Payable
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Internet & Telephone
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Leasing Payments
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Legal and Professional Fees
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Mileage
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Mobile Phone
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Motor Expenses
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Office Costs
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Office Equipment
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Other Computer Costs
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PAYE/NI Penalty
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Pension (Annuity)
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Pension (Personal/Stakeholder)
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Postage
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Printing
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Realized Currency Exchange Gain/Loss
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Rent
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Staff Entertaining
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Staff Training
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Stationery
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Subscriptions
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Sundries
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Travel
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Unrealized Currency Exchange Gain/Loss
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Use Of Home
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VAT Penalty
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Dividends
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You have taken X in dividends from your company for the current financial year starting X.
You will pay tax on dividends received during your personal tax year. The current personal tax year is from April 6th to April 5th - any dividends taken during this time will be subject to UK income tax rates.
Dividend tax due will be calculated as part of your Self Assessment Tax Return. This is due for filing and payment on January 31st 2022 but can be filed anytime from April 6th 2021.
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Director 1 Dividends:
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Director 2 Dividends:
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Current Self Assessment Tax Year:
April 6th 2021 to April 5th 2022
Tax Free Dividend Allowance:
£2,000
Current Dividend Tax Rates
Key Resources:
Confirmation Statement
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You have taken X in dividends from your company for the current financial year starting X.
You will pay tax on dividends received during your personal tax year. The current personal tax year is from April 6th to April 5th - any dividends taken during this time will be subject to UK income tax rates.
Dividend tax due will be calculated as part of your Self Assessment Tax Return. This is due for filing and payment on January 31st 2022 but can be filed anytime from April 6th 2021.
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Director 1 Dividends:
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Director 2 Dividends:
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Current Self Assessment Tax Year:
April 6th 2021 to April 5th 2022
Tax Free Dividend Allowance:
£2,000
Current Dividend Tax Rates
Key Resources:
Upcoming VAT
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Your next VAT filing and payment date is X and the current amount due is X.
This covers the 3 months ending X.
VAT Number:
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VAT Scheme:
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VAT Effective From:
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VAT Basis:
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VAT Return Schedule:
19%
VAT Return Frequency:
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Key Resources:
Your Virtual Office
Your Details
Virtual Office Type:
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Mail Forwarding Type:
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Forwarding Mail To:
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Your Address
Address Location:
Forma House, 40 Bowling Green Lane, London, EC1R 0NE
GoForma Community Member
Community Membership
As a community member of GoForma we provide you with a range of key insights, documents and business advice for free.
Company details
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If you have a registered company on Companies House, add your details below and we'll automatically pull in the details, add your filing deadlines and tailor your community advice.
Use the company name availability checker below to ensure that you get a company name that is not currently used.
Check Company NameThanks for submitting your company details, we are now syncing your company with our systems.
Communication preferences
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You've already submitted your communication preferences.
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Book a Free Accounting Consultation
Speak to an accountant to get advice on starting your business, switching your accountant to GoForma or just get some free accounting advice.
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Apply for a Free Company Formation
We give away 25 free Limited Company Formations every month. You don't need to buy a package from us, we just want to help businesses get started and give entrepreneurs all the advice they need.
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You'll need to ensure you meet the conditions below to qualify:
You are the only director of the new business
You are a UK resident with proof of UK address
Task List
Documents
Account Overview
Account Details
Your Company Details
Personal Details
VAT Details
Your GoForma Account Manager
Upgrade Your Account
Ecommerce Accounting
Basic eCommerce accounting package that could include additional accounting support like payroll, registered business address, bookkeeping support and more.
UpgradeSmall Business Accounting
Basic small business accounting package that could include additional accounting support like payroll, registered business address, bookkeeping support and more.
UpgradeEnd of Year Accounts
One-off company end of year accounts and corporation tax return preparation and filing.
UpgradeOperate Sole Trader
Sole trader accounting support with FreeAgent accounting software, annual filing, VAT returns and self-assessment included.
UpgradeStart Sole Trader
Sole trader accounting support with FreeAgent accounting software, annual filings and self assessment included.
UpgradeGrow Package
Free company registration, VAT registration and filings, monthly payroll, corporation tax return, accounting software, confirmation statement, 2x annual Self Assessment and unlimited accounting support. Registered company address also included.
UpgradeOperate Package
Operate Bundle: Free company registration, VAT registration and filings, monthly payroll, corporation tax return, accounting software, confirmation statement, annual self assessment and unlimited support.
UpgradeStart Package
Free company registration, monthly payroll, corporation tax return, accounting software and unlimited online accounting support to help get your business started.
UpgradePremium Virtual Office
A registered business address and virtual office at our central London address. Mail handling service for you to come and collect your mail during our normal business hours and all post forwarded to you with our premium service.
UpgradeAdvanced Virtual Office
A registered business address and virtual office at our central London address. Mail handling service for you to come and collect your mail during our normal business hours as well as scanning and emailing your post.
UpgradeStandard Virtual Office
A registered business address and virtual office at our central London address. Mail handling service for you to come and collect your mail during our normal business hours.
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Search Through Our Guides
- What is VAT
- When to register for VAT
- VAT rates
- Exempt/ Out of Scope VAT items
- VAT filing responsibilities
- De-registering for VAT
Ultimate VAT Guide
Complete IR35 Guide
- What is a Sole Trader?
- Sole trader advantages
- Sole trader disadvantages
- How to register self employed
- Sole trader responsibilities
- Self employed tax
- Important self employed deadlines
Self Employed Registration Guide
- What is a Virtual Office
- Benefits of a VIrtual Office
- How to choose the right virtual office
Virtual Office Guide
Ultimate VAT Guide
Ultimate VAT Guide
- What is VAT
- When to register for VAT
- VAT rates
- Exempt/ Out of Scope VAT items
- VAT filing responsibilities
- De-registering for VAT
Complete IR35 Guide
Complete IR35 Guide
- What is IR35
- Who IR35 impacts
- Planning for IR35
- IR35 Action Plan
Self Employed Registration Guide
Self Employed Registration Guide
- What is a Sole Trader?
- Sole trader advantages
- Sole trader disadvantages
- How to register self employed
- Sole trader responsibilities
- Self employed tax
- Important self employed deadlines
Virtual Office Guide
Virtual Office Guide
- What is a Virtual Office
- Benefits of a VIrtual Office
- How to choose the right virtual office
Dividends Guide
Dividends Guide
- What are dividends?
- Dividend tax rates and allowances
- Paying taxes on dividends
- Dividend FAQs
Accounting Software Comparison Guide
Accounting Software Comparison Guide
- What can accounting software do
- Why you may need accounting software
- Benefits of accounting software
- How to choose the right accounting software
Christmas Company Expenses Guide
Christmas Company Expenses Guide
- Christmas expenses overview
- Staff party claims
- Gift voucher claims
- Gift claims
Limited Company Expenses Guide
Limited Company Expenses Guide
- Allowable business expenses
- Employee expenses
- Travel expenses
- Office & equipment expenses
- Professional services expenses
- General expenses
How to Start Contracting Guide
How to Start Contracting Guide
- What is a contractor
- Types of contractors
- Contractor business structures
- Contractor accounting
- Understanding IR35
- Contractor insurance
- Banking for contractors
Business Insurance Guide
Business Insurance Guide
- What is business insurance?
- Why do I need business insurance?
- Types of business insurance
- Professional indemnity insurance
- Public and product liability insurance
- Business contents insurance
- Employers liability insurance
- Cyber insurance
Accountant Checklist Guide
Accountant Checklist Guide
- Why you may need an accountant
- Key areas an accountant can help
- Questions to ask an accountant
- Accountant checklist
Contractor & Freelancer Insurance Guide
Contractor & Freelancer Insurance Guide
- What is business insurance?
- What insurance you need
- Legal requirements for insurance for freelancers
- Legal requirements for insurance for contractors
- How to find the best policy
Small Business Accounting Guide
Small Business Accounting Guide
- When and why you may want to register a Limited Company
- Advantages and disadvantages of a Limited company
- Limited company alternatives
- When to register for VAT
- Advantages and disadvantages of VAT
- How to take money out of your company
- Dividend tax rates
- Limited company expenses & corporation tax
- Annual accounts and deadlines
- Confirmation statements and deadlines
- Self Assessment tax returns
How to Start an Ecommerce Business
How to Start an Ecommerce Business
- Types of Ecommerce Business Models
- How to/ if you need to register your business
- Accounting software requirements
- Understanding VAT
- Brexit Import checklist
- Brexit Export checklist
PAYE, P60's and Paying Yourself Guide
PAYE, P60's and Paying Yourself Guide
- What is PAYE
- PAYE when self employed
- When to register for PAYE
- Sole trader taxes
- Sole trader income tax calculations
- Limited company dividends & salary
- Dividend tax rates
Registering a Limited Company Guide
Registering a Limited Company Guide
- What is a Limited Company
- 10 step process for setting up a Limited Company
UTR Numbers Guide
UTR Numbers Guide
- What is a UTR number
- Why you need a UTR number
- Where to find your UTR number
- How to get a UTR number
- Getting a company UTR number
Business Banking Guide
Business Banking Guide
- How to choose the right account
- Challenger banks
- Starling, Revolt, Tide and Metro bank overview
VAT Calculator
VAT Calculator
Working out the VAT
With our calculator, you can work out your VAT in just a few quick clicks.
If the price doesn't include VAT:
- Select the ‘Add VAT' option
- Select the rate of VAT on the slider
- You'll obtain the gross price (inclusive of VAT) and the VAT element of the bill.
If the price includes VAT:
- Select the ‘Exclude VAT' option
- Select the rate of VAT on the slider
- You'll obtain the pre-VAT price (exclusive of VAT) and the VAT element of the bill.
VAT basics: What you need to know
VAT, or Value Added Tax is a consumption tax that is applied to most goods and services. While the standard rate (20%) applies in most cases, there are items-such as children's car seats and sanitary products-that are charged at the reduced rate of 5%. Using the slider on our calculator, you'll be able to calculate the VAT and gross or net prices for different VAT rates. If you're unsure about the correct rate you should apply, refer to HMRC's resource on VAT rates.
Resources:
- How to deal with VAT if you are a small business
- Flat rate VAT Scheme: A beginner's guide for small business owners
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Corporation Tax Calculator
Corporation Tax Calculator
Corporation tax basics: What you need to know
Corporation Tax refers to tax you pay on money your company or association makes from trading profits, investments and chargeable gains.
It is calculated and paid on an annual basis, based on your ‘accounting period' for corporation tax. This is typically the same as your company's financial year. Limited companies, foreign companies with a UK branch or office, clubs, co-operatives and unincorporated associations are required to pay corporation tax on profits.
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When is corporation tax due?
Keep in mind that unlike most taxes, the deadline for paying your corporation tax bill is earlier than the deadline for your tax return.
Your corporation tax bill is nine months and one day following the end of your accounting period. If the end of your accounting period falls on 31 March 2019, you'll need to make your payment by 1 January 2020. The payment is made once a year if your profits fall below £1.5 million. Payment is made in instalments for businesses with profits exceeding £1.5 million.
What is the current corporation tax rate?
The current rate is 19% for the 2019/20 tax year. For the tax year starting 1 April 2020, the rate will be reduced to 18%.
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Resources:
- HMRC's guide on corporation tax
- HMRC's guide on registering for corporation tax
- Rates and allowances: Corporation tax
- How to reduce your corporation tax bill
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