How do I transfer/ change a company directors?

Chris Andreou

April 21, 2021

No items found.
Download Now ↓
Limited Company

You can appoint a new director, terminate the appointment of a director or change the director’s personal details online, or by downloading the relevant forms and submitting it to Companies House by post.

Download our Ultimate Expenses Guide

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.
No items found.

Download our Ultimate Expenses Guide

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.
No items found.

What's Inside:

No items found.

Get Free Advice from an Accountant

Book a free 30 minute call with an accountant. We'll help walk through setting up your business, switching accountant or any of your tax queries. All our accounting packages come with a free 30 day trial.

Featured Article

Read more

Read More Guides below:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What do I need to do as a Company Director? Guide

What do I need to do as a Company Director?

Your responsibilities as a limited company director include:

  • Your company must be registered at Companies House
  • Your company's annual accounts must be filed at Companies House
  • A Confirmation Statement must be submitted annually. This can be done online or via post. This is a filing requirement introduced in 2016 to replace the Annual Return (Form AR01).
  • Submit an annual Corporation Tax to HMRC. Any outstanding tax must be paid within nine months and one day of your company's year-end accounting.
  • Register for Self Assessment with HMRC, and submit your personal tax return each year.
  • If you have employees and are running the company payroll, you need to report your employees' payments and deductions to HMRC on or before your employees' payday. You need to pay what you owe to HMRC each month.
  • If your VAT taxable turnover exceeds the VAT threshold, you'll need to register for VAT and complete your VAT returns online at the end of every financial quarter.
  • Maintain proper company records
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I transfer/ change a company shareholders? Guide

How do I transfer/ change a company shareholders?

Adding company shareholders

To appoint new shareholders, you need to issue new shares to the individual, or transfer or sell existing shares owned by a current shareholder to the individual.

Transfer existing shares:

  • Complete a stock transfer form
  • File the stock transfer form with HMRC, depending on whether money is paid for the stock transfer
  • Issue a share certificate to new shareholders
  • Inform Companies House of the details of new company shareholders

Issue new shares:

  • All existing members need to waive pre-emption rights on the allotment of shares
  • Complete form SH01
  • Inform Companies House of the details of new company shareholders before, or when the next confirmation statement is due.

Removing company shareholders

If an existing shareholder wants to leave the company, their shares must be transferred or sold to someone else. The company directors are responsible for overseeing the transfer, as well as updating the statutory register of members and Companies House with details of the new shareholders.

Further information is available on Companies House's guide on how to change shareholders.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What is a share transfer? Guide

What is a share transfer?

Share transfer is the procedure of passing existing shares from existing shareholders to other individuals.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What are my Limited Company Directors Responsibilities? Guide

What are my Limited Company Directors Responsibilities?

As the director of a limited company, your responsibilities include:

  • Your company must be registered at Companies House
  • Your company's annual accounts must be filed at Companies House
  • A Confirmation Statement must be submitted annually. This can be done online or via post. This is a filing requirement introduced in 2016 to replace the Annual Return (Form AR01).
  • Submit an annual Corporation Tax to HMRC. Any outstanding tax must be paid within nine months and one day of your company's year-end accounting.
  • Register for Self Assessment with HMRC, and submit your personal tax return each year.
  • If you have employees and are running the company payroll, you need to report your employees' payments and deductions to HMRC on or before your employees' payday. You need to pay what you owe to HMRC each month.
  • If your VAT taxable turnover exceeds the VAT threshold, you'll need to register for VAT and complete your VAT returns online at the end of every financial quarter.
  • Maintain proper company records.
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Entrepreneurs relief: selling shares Guide

Entrepreneurs relief: selling shares

If you are selling shares in all or part of your business, you might qualify for a Capital Gains tax relief called Entrepreneurs' Relief.

Below, you'll find a short guide providing a quick overview of the essentials - including how Entrepreneurs' Relief works, whether you're eligible for a claim and how you can make a claim. Keep in mind that this is a general guide, and we highly recommend speaking with an accountant before you make a claim.

Entrepreneurs' Relief is a scheme that reduces the amount of Capital Gains Tax payable when you dispose of (sell) shares in your business. Instead of the usual rates, you pay a reduced tax rate of 10% on the first £10 million of gains. There isn't a limit to the number of times you can claim.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How many shares should my new Company issue? Guide

How many shares should my new Company issue?

A minimum of one share must be issued upon incorporating. Additionally, if you plan on having more than one shareholder, then you must issue at least one share per shareholder.

Often, individuals who wish to be sole owners issue a single share in order to own 100% of their company. However, if they later wish to split the ownership, or change the structure of the business, having only 1 share could lead to complications down the line.

A common practice is to issue share capital which is easily divisible in the future (for example it may be best to issue 50 or 100 shares upon incorporation). By doing so this will allow you to change the ownership of shares more easily down the road. Many businesses tend to issue 100 shares of £1 each, with each share representing 1% of the business.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I transfer/ change a company directors? Guide

How do I transfer/ change a company directors?

You can appoint a new director, terminate the appointment of a director or change the director's personal details online, or by downloading the relevant forms and submitting it to Companies House by post.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What is a Limited Company? Guide

What is a Limited Company?

Limited companies provide numerous benefits, from tax savings to limiting your liability.

But the first step is to understand what a limited company is exactly, and whether setting up such a company can help you achieve your goals. This article will clearly explain the pro's and con's so you can make an educated decision.

In a nutshell, a limited company is a private company that's a separate legal entity from its owner(s). For freelancers and contractors, a limited company is one of the three main business structures that you may use to run your business (the others being sole trader and umbrella companies).

In this article, we walk you through:

  • What a "separate legal entity" means
  • The different types of Limited Companies
  • The pros and cons of setting up a Limited Company
  • How to start a Limited Company
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What are the differences between Directors, Shareholders & Employees? Guide

What are the differences between Directors, Shareholders & Employees?

Directors

  • Directors have the responsibility of running and managing a Limited company;
  • Directors are responsible for ensuring all company accounts are filed with HMRC and Companies House;
  • Directors must have board meetings to decide on company activities ‚- including taking a dividend.

Shareholders

  • Shareholders are not involved in the running and managing of the Limited company;
  • Shareholders are involved in some decisions, like the change of company name, however not day to day running;
  • Shareholders are entitled to take dividends from the company, as long as these can be justified from their role in the company.

Employees

  • Employees work for the Limited company and are employed. They will receive a monthly salary from the Limited company.
  • They are not part of any decision making process and do not have any rights to dividends.
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I transfer/ change a company name? Guide

How do I transfer/ change a company name?

You can change the name of your limited company through a third party (such as a company formation service), or directly with Companies House.

If you're opting for the latter, you need to complete form NM01. There is a £10 fee payable to Companies House to file the form.

If you're trading as a limited liability partnership, you need to file form LL NM01. A £10 fee applies.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I file for EIS investment? Guide

How do I file for EIS investment?

To apply for the Enterprise Investment Scheme (EIS), you need to:

  • Obtain the application form from HMRC. You need to request for the form in Welsh.
  • If you've received advance assurance, you need to show copies of documents that have changed since you received advance assurance from HMRC.
  • If you haven't received advance assurance, you need to provide the following information about your company and any subsidiaries:
  • Business plan and financial forecasts
  • Latest accounts or bank statements
  • An explanation of how you meet the risk to capital condition
  • Information on all trading and activities to be carried out, and how much you expect to spend on each activity

An up-to-date copy of the memorandum and articles of association

  • The information memorandum, prospectus or other document used to explain the fundraising proposal to your investors
  • Information of any other agreements between your company and the shareholder
  • A list of the amounts, dates and venture capital schemes under which you've previously received investment
  • Any other documents to show you meet the qualifying conditions
  • If you're applying as a knowledge intensive company, you need to provide evidence of how you qualify as one.
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Deciding between Sole Trader vs Limited Company vs Umbrella Guide

Deciding between Sole Trader vs Limited Company vs Umbrella

If you're planning to start out on your own, one of the most important decisions you'll need to make is figuring out how you should structure your business.

As a freelancer, contractor or small business owner, there are three main types of legal structures you should consider:

  • Sole proprietorship
  • Limited company
  • Working through an umbrella company

It's a decision that requires careful consideration, and it's important that you seek advice from qualified professionals when you weigh out the pros and cons of each business structure. To begin with, you need to have a good grasp of the basics - and here's where our guide comes into the picture.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I file for SEIS investment? Guide

How do I file for SEIS investment?

To apply for the Seed Enterprise Investment Scheme (SEIS), you need to:

You may submit your application by email (enterprise.centre@hmrc.gsi.gov.uk), or via post.

The postal address is:

Venture Capital Reliefs Team

WMBC

HM Revenue and Customs

BX9 1BN

For further information, see HMRC's resource or the the SEIS section of the HMRC Venture Capital Manual.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I restart a dormant business? Guide

How do I restart a dormant business?

To restart a dormant business, you need to take the following steps:

  1. Tell HMRC that your business has restarted trading by registering for Corporation Tax again.
  2. Send accounts to Companies House within 9 months of your company's year end.
  3. Pay any Corporation Tax due within 9 months and 1 day of your company's year end.
  4. Send a Company Tax Return - including full statutory accounts - to HMRC within 12 months of your company's year end.
Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What is share allotment? Guide

What is share allotment?

Share allotment refers to the creation and issuing of new shares to new or existing shareholders. This differs from share transfer, which is the procedure of passing existing shares from existing shareholders to other individuals.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What is a SIC code? Guide

What is a SIC code?

The SIC code is a five-digit Standard Industrial Classification code. These codes are used by government bodies and agencies to systematically identify and categorise the principal business activities of companies operating in the UK.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I invest in my business? Guide

How do I invest in my business?

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
How do I find my company number? Guide

How do I find my company number?

A company number (also known as a company registration number) is an eight-digit number that is assigned by Companies House to a company upon incorporation.

You can locate the number on your certificate of incorporation. The first digit of the company number is usually a zero, and is omitted in most instances. As such, your certificate of incorporation will show a seven-digit company number.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
What is a Limited Company? Guide

What is a Limited Company?

A limited company is a type of business structure where the company has its own legal identity. The assets and liabilities of the company are separate from the personal finances of its owner.

Read Full GuideRead Full GuideCalculate Now

Download Now:

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
No items found.