[{"id":13166,"date":"2025-01-07T15:31:59","date_gmt":"2025-01-07T15:31:59","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=13166"},"modified":"2025-01-12T18:09:45","modified_gmt":"2025-01-12T18:09:45","slug":"rp07-form","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/","title":{"rendered":"What is an RP07 form and when is it used?"},"content":{"rendered":"<p>An RP07 form can be used to apply to Companies House to change a company\u2019s or LLP\u2019s registered office or a person\u2019s service address\/principal office when there is a dispute over the address.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Address disputes may arise for various reasons, such as fraudulent or unauthorised use of an address or when a company\u2019s registered office is not an \u2018appropriate address\u2019.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>In this post, we discuss the RP07 form in detail, including why someone may dispute an address, how to complete and file the form at Companies House, and what happens after submission. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div class=\"key-takeaways-shortcode\" role=\"alert\">\n                <h3>\n                    <i class=\"fa fa-solid fa-key\"><\/i>\n                    <span>Key Takeaways<\/span>\n                <\/h3>\n                <div class=\"key-takeaways-shortcode__content\">\n                    <\/p>\n<ul>\n<li>Use an RP07 form to request a change of a company\u2019s or individual\u2019s address.<\/li>\n<li>Applicants must provide detailed information on the disputed address, including evidence of unauthorised use and supporting documents.<\/li>\n<li>Once the application is received, Companies House notifies the disputed party, who has 28 days to provide evidence of their right to use the address.<\/li>\n<\/ul>\n<p>                <\/div>\n            <\/div>\n        \n<h3>The purpose of an RP07 form<\/h3>\n<p>Companies House (the Registrar) requires official address details from companies, limited liability partnerships (LLPs), and certain persons associated with companies and LLPs. This information is disclosed on the public register.<\/p>\n<p>Any address supplied to Companies House must be accurate and genuine. The company (or LLP) or person providing the address must also have authorisation to use it.<\/p>\n<p>Where there is a dispute over any such address, an RP07 form can be used to apply to Companies House to change the address. Specifically, any person may use this form to complain about a:<\/p>\n<ul>\n<li>Registered office address of a company or LLP<\/li>\n<li>Service address (correspondence address) of a company director, company secretary, person with significant control (PSC), or an LLP member<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.legislation.gov.uk\/ukpga\/2006\/46\/section\/1097C\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Principal office address of a &#8216;relevant person&#8217;<\/a><span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n<p>However, a company or LLP <b>cannot<\/b> use this form to change their own registered office address or the service address\/principal office of one of their directors, secretaries, PSCs, or LLP members.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>Why would someone dispute an address?<\/h3>\n<p>There are many reasons why someone may dispute a registered office address, service address, or principal office address, including:<\/p>\n<ul>\n<li>The fraudulent use of an incorrect address by a company or an individual (e.g. to set up a company, apply fraudulently for credit, or <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/director-appointment-resignation\/?_gl=1*tpx9fm*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">appoint a director<\/a>)<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Using a residential or commercial address without the knowledge or authorisation of the owner<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>When a company\u2019s registered office is not an \u2018<a href=\"https:\/\/www.gov.uk\/limited-company-formation\/company-address\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">appropriate address<\/a>\u2019<\/li>\n<li>Continuing to use the address of a third-party provider (e.g. a registered office service from a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/?_gl=1*1ht09bi*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">company formation agent<\/a>) after renewal failure, unsuccessful payments, missing ID checks, or abusing the service<\/li>\n<\/ul>\n<p>When providing any address details to Companies House, you must ensure you have the owner\u2019s permission to use the address for such purposes.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>How to complete an RP07 form<\/h3>\n<p>The <a href=\"https:\/\/www.gov.uk\/government\/publications\/apply-to-change-a-companys-disputed-registered-office-address-rp07\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">RP07 form<\/a> is available from Companies House. You can complete and file it online using the <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/efs-submission\/start\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Upload a document to Companies House<\/a> service. Alternatively, you can download the form to print and send by post.<\/p>\n<p>When filling in an RP07 form, the following information is required:<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<ul>\n<li>Applicant\u2019s title, full forename(s), and surname\u2014or the company\/firm name if the applicant is a corporate body or firm<\/li>\n<li>Applicant\u2019s contact address and email address<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Name and registration number of the company that is the subject of the application<\/li>\n<li>The address you\u2019re complaining about<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>How the address is being used\u2014i.e. as a registered office address, a person\u2019s correspondence (service) address, or a person\u2019s principal office address<\/li>\n<li>Reason for applying for a change of address:<span class=\"Apple-converted-space\">\u00a0<\/span>\n<ul>\n<li>Provide the name of any person or company shown on the records at Companies House as using the address in dispute (i.e. on what forms does it appear on the <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Companies House register<\/a>)<\/li>\n<li>Provide as much detail as possible about where the address can be found on the records at Companies House<\/li>\n<li>Explain why the company and\/or person named is not entitled to use the address<\/li>\n<\/ul>\n<\/li>\n<li>Signature of the applicant<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p>The applicant must also include supporting evidence (original documents or copies) with form RP07, such as:<\/p>\n<ul>\n<li>A utility bill sent to the applicant at the address in dispute\u2014this must be dated within the last six months<\/li>\n<li>A land registry deed dated within the last 12 months<\/li>\n<li>A written agreement allowing the applicant to use the address<\/li>\n<li>Documents proving the applicant\u2019s proprietary rights in the address, including freehold or leasehold<\/li>\n<li>Written evidence of the start and end of a contract (if the RP07 applicant is a service provider)<\/li>\n<\/ul>\n<p>Companies House will consider any other relevant supporting documents or information on a case-by-case basis.<\/p>\n<h3>What happens after submitting form RP07<\/h3>\n<p>Upon filing an RP07 form, Companies House will send confirmation to the applicant, review the application, and notify the individual or company that is the subject of the application. They will have 28 days to provide evidence of their right to use the address.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>If the company or individual cannot provide evidence, or if Companies House is not satisfied with the evidence provided, the Registrar will remove the disputed address from the register and change it to the Companies House default address.<\/p>\n<p>However, before the expiration of the 28-day notice period, the company or individual may avoid the application of the default address by changing their registered office or service\/principal office address to another location instead.<\/p>\n<h4>What is the Companies House default address?<\/h4>\n<p>A Companies House default address is an address held and maintained at Companies House.<span class=\"Apple-converted-space\">\u00a0<\/span>The Registrar will change a company\u2019s or LLP\u2019s registered office to a default address if the existing registered office address is being used without permission.<\/p>\n<p>A default address will also apply if an individual\u2019s existing service\/principal office address is being used without authorisation.<\/p>\n<p>There are three <a href=\"https:\/\/resources.companieshouse.gov.uk\/about\/policyDocuments\/registrarsRules\/registrars-nomination-of-default-address-rules-volume-6-of-the-registrars-rules-2024.pdf\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Companies House default addresses<\/a>. The one used will depend on the company\u2019s or LLP\u2019s jurisdiction of incorporation:<\/p>\n<h5><strong>England and Wales<span class=\"Apple-converted-space\">\u00a0<\/span><\/strong><\/h5>\n<p>Companies House Default Address, PO Box 4385, Companies House, Crown Way, Cardiff, CF14 3UZ<\/p>\n<h5><strong>Scotland<span class=\"Apple-converted-space\">\u00a0<\/span><\/strong><\/h5>\n<p>Companies House Default Address, PO Box 24238, Edinburgh, EH7 9HR<\/p>\n<h5><strong>Northern Ireland<span class=\"Apple-converted-space\">\u00a0<\/span><\/strong><\/h5>\n<p>Companies House Default Address, PO Box 2381, Belfast, BT1 9DY<\/p>\n<h3>Professional address services from Quality Company Formations<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>At Quality Company Formations, we offer a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/registered-office-address\/?_gl=1*1oabw2c*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">London Registered Office Address Service<\/a> for companies and LLPs incorporated in England and Wales. We also provide a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/directors-service-address\/?_gl=1*1oabw2c*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">London Service Address<\/a> for directors, company secretaries, PSCs, and LLP members. Both address services are renewable on an annual basis.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h4>Does Quality Company Formations use RP07 forms?<span class=\"Apple-converted-space\">\u00a0<\/span><\/h4>\n<p>We will file an RP07 form immediately if we discover that a company or person is using our London address without our knowledge and authorisation.<\/p>\n<p>Where a client continues using our London address after failing to renew and pay for their address service(s), we will only file an RP07 form with Companies House as a last resort. Our team will always attempt to contact the client by email or phone before initiating this process.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/registered-office-i-need-one\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">What is a registered office and why do I need one?<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-is-a-directors-service-address\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">What is a director&#8217;s service address?<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-can-you-change-your-address-at-companies-house\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How can you change your address at Companies House?<\/span><\/a>\n                    <\/p>\n<p>Should you receive notification from Companies House that we have filed an RP07 form disputing your use of our address, please <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/contact-us\/?_gl=1*1rvwkey*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">contact us<\/a> as soon as possible. If you genuinely forgot to renew your address service, we may be able to withdraw the application within 28 days of its submission.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>Thanks for reading<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>We hope you\u2019ve found this post informative and helpful. If you have any questions, please comment below. You can also contact our London-based team if you&#8217;d like to speak to us about <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/set-up-a-limited-company-in-4-easy-steps\/?_gl=1*1fi6kzg*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">setting up a company<\/a> or using our address services. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Explore the <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?_gl=1*1e6a6iy*_up*MQ..*_gs*MQ..&amp;gclid=CjwKCAiAm-67BhBlEiwAEVftNkqA4IxTmwRepfNnOzGAknCU7H2kosVghMqtDTMHqUe_RgmeAgPIyBoCkaEQAvD_BwE&amp;gbraid=0AAAAACiO-qUuRzMeVxXQCyFGCbVov7uZp\" data-wpel-link=\"internal\">Quality Company Formations Blog<\/a> for more business advice and limited company guidance.<\/p>\n<p><span class=\"Apple-converted-space\">            <div style=\"display: none\"><\/div>\n        \u00a0<\/span><\/p>\n"},"excerpt":{"rendered":"<p>An RP07 form can be used to apply to Companies House to change a company\u2019s or LLP\u2019s registered office or a person\u2019s service address\/principal office when there is a dispute over the address.\u00a0 Address disputes may arise for various reasons, such as fraudulent or unauthorised use of an address or when a company\u2019s registered office&hellip;<\/p>\n","protected":false},"author":27,"featured_media":13175,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1230],"tags":[],"class_list":["post-13166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-addresses","category-1230","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is an RP07 Form and When Is It Used?<\/title>\n<meta name=\"description\" content=\"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is an RP07 form and when is it used?\" \/>\n<meta property=\"og:description\" content=\"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-07T15:31:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-12T18:09:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"James Dobran\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James Dobran\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What is an RP07 Form and When Is It Used?","description":"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/","og_locale":"en_GB","og_type":"article","og_title":"What is an RP07 form and when is it used?","og_description":"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/","og_site_name":"Quality Formations Blog","article_published_time":"2025-01-07T15:31:59+00:00","article_modified_time":"2025-01-12T18:09:45+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg","type":"image\/jpeg"}],"author":"James Dobran","twitter_misc":{"Written by":"James Dobran","Estimated reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/","name":"What is an RP07 Form and When Is It Used?","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg","datePublished":"2025-01-07T15:31:59+00:00","dateModified":"2025-01-12T18:09:45+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d"},"description":"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg","width":1500,"height":750,"caption":"A person holding a clipboard with an RP07 form and a pencil."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/rp07-form\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"What is an RP07 form and when is it used?"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d","name":"James Dobran","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","caption":"James Dobran"},"description":"James is Deputy Director of Operations at QCF, responsible for managing and optimising the business\u2019 daily operational functions. He greatly values customer-centricity and service standard improvements, bolstered by qualifications in Management and Leadership from the Chartered Management Institute and certifications in Sales Management and Customer Service Excellence.","jobTitle":"Deputy Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/james-dobran\/"}]}},"views":61,"x_categories":"Company Addresses","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2025\/01\/Application-to-change-address.jpg","x_date":"7 Jan 2025","x_author":"James Dobran","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","x_metadata":{"yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1230","_yoast_wpseo_focuskw":"RP07 form","_yoast_wpseo_linkdex":"86","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"6","_yoast_indexnow_last_ping":"1736705338","views":"61","_thumbnail_id":"13175","_yoast_wpseo_title":"What is an RP07 Form and When Is It Used?","_yoast_wpseo_metadesc":"Learn everything about the RP07 form and its applications. Our comprehensive guide explains its purpose, including when and how to use it."},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=13166"}],"version-history":[{"count":14,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13166\/revisions"}],"predecessor-version":[{"id":13186,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13166\/revisions\/13186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/13175"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=13166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=13166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=13166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":13091,"date":"2025-01-01T15:47:33","date_gmt":"2025-01-01T15:47:33","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=13091"},"modified":"2025-01-06T10:52:47","modified_gmt":"2025-01-06T10:52:47","slug":"important-dates-for-uk-business-owners-in-2025","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/","title":{"rendered":"Important dates for UK business owners in 2025"},"content":{"rendered":"<p>Running a successful business relies on preparation, planning, and anticipating what&#8217;s around the corner. To help you stay organised throughout 2025, we outline some important dates that may be relevant to you as a UK business owner, including tax and filing deadlines, new tax year measures, changes to company law, and key obligations for limited companies.<\/p>\n<p><span class=\"Apple-converted-space\">Under each date, you\u2019ll find an \u2018Add to Calendar\u2019 button, allowing you to add it straight to your Apple or Google calendar.<\/span><\/p>\n            <div class=\"key-takeaways-shortcode\" role=\"alert\">\n                <h3>\n                    <i class=\"fa fa-solid fa-key\"><\/i>\n                    <span>Key Takeaways<\/span>\n                <\/h3>\n                <div class=\"key-takeaways-shortcode__content\">\n                    \n<ul>\n<li><span style=\"color: #333333;\">Many individuals will have a busy start to 2025, with several Self Assessment tasks to complete by 31 January\u2014filing an online tax return, paying tax for the 2023-24 tax year, and making a first &#8216;payment on account&#8217; for the 2024-25 tax year.<\/span><\/li>\n<li><span style=\"color: #333333;\">The start of the 2025-26 tax year brings certain changes, most notably an increase in employer National Insurance from 13.8% to 15%, a reduction in the Secondary Threshold from \u00a39,100 to \u00a35,000 per year, and an increase in the Employment Allowance from \u00a35,000 to \u00a310,500 per year.<\/span><\/li>\n<li><span style=\"color: #333333;\">Various changes to UK company law will take effect throughout 2025, including a new identity verification process for company incorporations, directors, and people with significant control.<\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">                <\/div>\n            <\/div>\n        <\/span><\/p>\n<h3>31 January: Self Assessment deadlines<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<add-to-calendar-button name=\"Self Assessment deadlines\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-01-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>The end of January is a crucial time for any UK business owners who file through Self Assessment. Whether you\u2019re a sole trader, a partner in a business partnership, or a limited <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-role-and-responsibilities-of-a-company-director\/?_gl=1*inmhdb*_up*MQ..&amp;gclid=Cj0KCQiAyc67BhDSARIsAM95QzvoWQZsZ3NoqApFf5TsSzK4S6OwRJQserO6lsjMwzjVommHnKDEaBcaAmO1EALw_wcB&amp;gbraid=0AAAAACiO-qVCZUqbKU5ElaSvsshWbxJnI\" data-wpel-link=\"internal\">company director<\/a> and shareholder, make sure you fulfil the following Self Assessment obligations by this deadline (where applicable):<\/p>\n<h4>File an online Self Assessment tax return<\/h4>\n<p>If you need to complete a Self Assessment tax return for the 2023-24 tax year (6 April 2023 to 5 April 2024), you must deliver it to HMRC online by midnight on 31 January 2025.<span class=\"Apple-converted-space\"> \u00a0<\/span><\/p>\n<p>HMRC will impose an automatic late filing penalty of \u00a3100 if you submit your return after the deadline. Additional penalties will apply if your tax return remains outstanding after 3, 6, and 12 months.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h4>Pay your 2023-24 Self Assessment bill<span class=\"Apple-converted-space\">\u00a0<\/span><\/h4>\n<p>If you owe any Self Assessment tax for income received in the 2023-24 tax year, you must pay your bill in full by midnight on 31 January 2025. Depending on your income and deductions, your bill may include:<\/p>\n<ul>\n<li>Income Tax<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Class 4 National Insurance contributions (NICs)<\/li>\n<li>Voluntary Class 2 NICs<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-are-the-dividend-tax-rates-in-the-uk\/\" data-wpel-link=\"internal\">Tax on dividends<\/a><\/li>\n<li>Capital Gains Tax (CGT)<\/li>\n<li>Student Loan repayments<\/li>\n<\/ul>\n<p>However, only a balancing payment will be due by 31 January if you\u2019ve already made \u2018payments on account\u2019 in 2024. Most self-employed people make two payments on account (advance payments) towards their next Self Assessment tax bill, then a balancing payment (any remaining amount due) by the 31 January deadline.<\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/remember-to-file-your-self-assessment-tax-return-by-31st-january\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Remember to file your Self Assessment tax return by 31 January<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-guidance-for-company-directors-and-shareholders\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Self Assessment guidance for company directors and shareholders<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Self Assessment &#8211; 16 common questions answered\u00a0<\/span><\/a>\n                    <\/p>\n<p>Many individuals report and pay Capital Gains Tax through Self Assessment or HMRC\u2019s \u2018real time\u2019 CGT service. However, if your capital gain is from a UK residential property, you must report and pay within 60 days of selling the property. You do this online using a &#8216;Capital Gains Tax on UK property&#8217; account.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h4>First payment on account for the 2024-25 tax year<\/h4>\n<add-to-calendar-button name=\"First payment on account due for 2024\/25 tax year\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-01-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>In addition to paying your Self Assessment bill for the 2023-24 tax year, you\u2019ll need to make your first payment on account for your 2024-25 tax bill by 31 January 2025 unless:<\/p>\n<ul>\n<li>your previous Self Assessment tax bill (for 2023-24) is less than \u00a31,000 or<\/li>\n<li>in the 2023-24 tax year, you paid more than 80% of the tax you owed outside of Self Assessment (e.g. through your PAYE tax code or because your bank already deducted interest on your savings)<\/li>\n<\/ul>\n<p>HMRC will estimate your <a href=\"https:\/\/www.gov.uk\/understand-self-assessment-bill\/payments-on-account\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">payments on account<\/a> based on your previous year\u2019s tax bill. Therefore, your first payment on account will be 50% of your 2023-24 tax bill.<\/p>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11377\" src=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/01\/Shutterstock_1862633668-1.jpg\" alt=\"HM Revenue and Customs (HMRC) brown envelope placed on top of Self Assessment tax return notice letter.\" width=\"1500\" height=\"750\" srcset=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/01\/Shutterstock_1862633668-1.jpg 1500w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/01\/Shutterstock_1862633668-1-600x300.jpg 600w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/01\/Shutterstock_1862633668-1-768x384.jpg 768w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><\/h4>\n<h3>1 February: Changes to Alcohol Duty rates<\/h3>\n<add-to-calendar-button name=\"Changes to Alcohol Duty rates\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-02-01\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>On 1 February 2025, <a href=\"https:\/\/www.gov.uk\/government\/publications\/changes-to-the-rates-of-alcohol-duty\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Alcohol Duty rates<\/a> on non-draft products will increase in line with the forecast Retail Price Index (RPI) inflation figure of 3.65%. This process is known as \u2018uprating\u2019. Non-draught alcohol includes wine, spirits, and bottled or canned beer and cider.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The following changes will also take effect from the same date:<\/p>\n<ul>\n<li>A 1.7% cut (in cash terms) to Alcohol Duty rates on qualifying draught products, including qualifying beer and cider, wine, other fermented products, and spirits<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>An end to the current temporary wine easement<\/li>\n<li>An increase in the cash discount provided to small producers for non-draught products (Small Producer Relief)<\/li>\n<\/ul>\n<p>These changes mean that the price of still and sparkling wine will increase by an average of 15p per bottle, while the cost of an average-strength pint will be 1p cheaper.<\/p>\n<h3>26 March: Spring Forecast<\/h3>\n<add-to-calendar-button name=\"Spring forecast\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-03-26\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>In line with the Budget Responsibility and National Audit Act 2011, the Office for Budget Responsibility (OBR) must produce two economic and fiscal forecasts each financial year.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>The Chancellor of the Exchequer, Rachel Reeves, has confirmed that the Spring Forecast will take place on Wednesday, 26 March 2025. This will provide an update on the UK economy and the government&#8217;s progress since the 2024 Autumn Budget.<\/p>\n<h3>1 April: National Minimum Wage increases<\/h3>\n<add-to-calendar-button name=\"National Minimum Wage increases\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-01\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>If you employ staff, you are legally required to pay them at least the National Living or Minimum Wage. The applicable rate depends on the person\u2019s age and whether they are an apprentice.<\/p>\n<p>Per the recommendations of the Low Pay Commission, the following National Living Wage and National Minimum Wage rates take effect from 1 April 2025:<\/p>\n<table width=\"643\">\n<thead>\n<tr>\n<td width=\"238\"><\/td>\n<td width=\"135\"><b>New hourly rate<\/b><\/td>\n<td width=\"135\"><b>Increase (\u00a3)<\/b><\/td>\n<td width=\"135\"><b>Increase (%)<\/b><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td width=\"246\"><span style=\"font-weight: 400;\">National Living Wage (for those aged 21 and over)<\/span><\/td>\n<td width=\"95\">\u00a312.21<\/td>\n<td width=\"152\">\u00a30.77<\/td>\n<td width=\"150\">6.7%<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">18-20 year olds<\/td>\n<td width=\"95\">\u00a310.00<\/td>\n<td width=\"152\">\u00a31.40<\/td>\n<td width=\"150\">16.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">16-17 year olds<\/td>\n<td width=\"95\">\u00a37.55<\/td>\n<td width=\"152\">\u00a31.15<\/td>\n<td width=\"150\">18.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"246\">Apprentice rate<\/td>\n<td width=\"95\">\u00a37.55<\/td>\n<td width=\"152\">\u00a31.15<\/td>\n<td width=\"150\">18.0%<\/td>\n<\/tr>\n<tr>\n<td width=\"246\"><span style=\"font-weight: 400;\">Accommodation offset<\/span><\/td>\n<td width=\"95\">\u00a310.66<\/td>\n<td width=\"152\">\u00a30.67<\/td>\n<td width=\"150\">6.7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"color: #ffffff;\">gap<\/span><\/p>\n<h3>5 April: End of the 2024-25 tax year<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<add-to-calendar-button name=\"End of the 2024\/25 tax year\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-05\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>The current tax year ends on 5 April 2025. If you file through Self Assessment or prepare <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/preparing-annual-accounts-limited-company\/\" data-wpel-link=\"internal\">annual accounts<\/a> in line with the financial year, 5 April marks the last day of your 2024-25 accounting period.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div class=\"tip-callout-shortcode\" role=\"alert\">\n                <h3>\n                    <i class=\"fa fa-solid fa-star\"><\/i>\n                    <span>Author's Tip<\/span>\n                <\/h3>\n                <div class=\"tip-callout-shortcode__content\">\n                    <\/p>\n<p><span style=\"color: #333333;\">Prepare your Self Assessment tax return as soon as possible after the end of the tax year. By doing so, you can budget accordingly and pay your bill in instalments, avoid late filing penalties, and keep your stress levels to a minimum.<\/span><\/p>\n<p>                <\/div>\n            <\/div>\n        \n<p>This date is also the deadline for registering for HMRC\u2019s <a href=\"https:\/\/www.gov.uk\/guidance\/paying-your-employees-expenses-and-benefits-through-your-payroll\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">payrolling benefits and expenses online service<\/a>. If you\u2019re an employer, you can tax employees\u2019 benefits and expenses through your payroll and then report to HMRC online rather than using form P11D.<\/p>\n<h3>6 April: Start of the 2025-26 tax year<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<add-to-calendar-button name=\"Start of the 2025\/26 tax year\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>The 2025-26 tax year begins on 6 April 2025 and runs until 5 April 2026.<\/p>\n<p>If you need to file a Self Assessment tax return for the 2024-25 tax year, you can submit it online or by post from 6 April onwards.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Several changes will also take effect from this date, some of which may affect you as a UK business owner or employer.<\/p>\n<h4>Changes to employer National Insurance and the Employment Allowance<span class=\"Apple-converted-space\">\u00a0<\/span><\/h4>\n<add-to-calendar-button name=\"Changes to employer National Insurance and the Employment Allowance\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>As announced at the 2024 Autumn Budget, the rate of employer (secondary) Class 1 <a href=\"https:\/\/www.gov.uk\/government\/publications\/changes-to-the-class-1-national-insurance-contributions-secondary-threshold-the-secondary-class-1-national-insurance-contributions-rate-and-the-empl\/changes-to-the-class-1-national-insurance-contributions-secondary-threshold-the-secondary-class-1-national-insurance-contributions-rate-and-the-empl\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">National Insurance contributions<\/a> will increase from 13.8% to 15% from 6 April 2025.<\/p>\n<p>Additionally, the Secondary Threshold (the point at which employers start paying NICs on employees\u2019 wages) will decrease from \u00a39,100 per year to \u00a35,000 per year. This measure will be in effect from 6 April 2025 until 5 April 2028.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p>However, it\u2019s not all bad news. The Employment Allowance will increase from \u00a35,000 to \u00a310,500 per year, and the \u00a3100,000 eligibility threshold will be removed. These changes mean that the Employment Allowance will extend to more employers and provide a greater reduction in their NIC liability.<\/p>\n<h4>Statutory pay increases<span class=\"Apple-converted-space\">\u00a0<\/span><\/h4>\n<add-to-calendar-button name=\"Statutory pay increases\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>New rates of statutory pay will take effect from 6 April 2025. These changes are as follows:<\/p>\n<ul>\n<li>Statutory Sick Pay (SSP) will increase from \u00a3116.75 to \u00a3118.75 per week<\/li>\n<li>Statutory Maternity, Paternity, Adoption, Shared Parental, and Parental Bereavement Pay will increase from \u00a3184.03 to \u00a3187.18 per week<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Maternity Allowance will also rise to \u00a3187.18 per week<\/li>\n<\/ul>\n<p>The earnings threshold to qualify for SSP or family payments will increase from \u00a3123 to \u00a3125 per week. However, the threshold for Maternity Allowance will remain at \u00a330 per week.<\/p>\n<h4>Changes to Scottish Income Tax<span class=\"Apple-converted-space\">\u00a0<\/span><\/h4>\n<add-to-calendar-button name=\"Changes to Scottish Income Tax\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>There are no changes to UK Income Tax or the annual Personal Allowance in 2025. However, as announced at the Scottish Budget on 4 December 2024, some minor inflationary adjustments have been made to Scottish Income Tax thresholds for 2025-26. These are shown in the table below, alongside the 2024-25 thresholds for comparison.<\/p>\n<table width=\"643\">\n<thead>\n<tr>\n<td width=\"145\"><b>Tax band<\/b><\/td>\n<td width=\"194\"><b>2024-25 taxable income thresholds\u00a0<\/b><\/td>\n<td width=\"194\"><b>2025-26 taxable income threshold<\/b><\/td>\n<td width=\"110\"><b>Tax rate\u00a0<\/b><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td width=\"145\">Starter rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a312,571 to \u00a314,876<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a312,571 to \u00a315,397<\/span><\/td>\n<td width=\"110\">19%<\/td>\n<\/tr>\n<tr>\n<td width=\"145\">Basic rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a314,877 to \u00a326,561<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a315,398 to \u00a327,491<\/span><\/td>\n<td width=\"110\">20%<\/td>\n<\/tr>\n<tr>\n<td width=\"145\">Intermediate rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a326,562 to \u00a343,662<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a327,492 to \u00a343,662<\/span><\/td>\n<td width=\"110\">21%<\/td>\n<\/tr>\n<tr>\n<td width=\"145\">Higher rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a343,663 to \u00a375,000<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a343,663 to \u00a375,000<\/span><\/td>\n<td width=\"110\">42%<\/td>\n<\/tr>\n<tr>\n<td width=\"145\">Advanced rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a375,001 to \u00a3125,140<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">\u00a375,001 to \u00a3125,140<\/span><\/td>\n<td width=\"110\">45%<\/td>\n<\/tr>\n<tr>\n<td width=\"145\">Top rate<\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">Above \u00a3125,140<\/span><\/td>\n<td width=\"194\"><span style=\"font-weight: 400;\">Above \u00a3125,140<\/span><\/td>\n<td width=\"110\">48%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"color: #ffffff;\">gap<\/span><\/p>\n<h4>Business Asset Disposal Relief and Investors\u2019 Relief &#8211; rate increase<\/h4>\n<add-to-calendar-button name=\"Business Asset Disposal Relief and Investors&#039; Relief\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-04-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>The rate of Capital Gains Tax applying to Business Asset Disposal Relief (previously known as Entrepreneurs&#8217; Relief) and Investors\u2019 Relief will increase from 10% to 14% for disposals of certain business assets or <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/limited-company-shares\/\" data-wpel-link=\"internal\">company shares<\/a> made on or after 6 April 2025. The rate will increase again from 14% to 18% for disposals made on or after 6 April 2026.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>1 May: End of the Alcohol Duty Stamps Scheme<\/h3>\n<add-to-calendar-button name=\"End of the Alcohol Duty Stamps Scheme\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-05-01\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>Following a review by HMRC, the government announced that the Alcohol Duty Stamps Scheme will end on 1 May 2025. This measure will impact businesses manufacturing or importing high-strength alcoholic spirits, wine, and other fermented products in the UK.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\t\t<div class=\"worldfirst_shortcode\">\n\t\t\t<a href=\"https:\/\/portal.worldfirst.com\/register?region=UK&amp;affiliate_id=10378\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/WFT_BANNER_326x341.png\"\n\t\t\t\t\talt=\"Worldfirst - Pay and get paid in multiple currencies\"\n\t\t\t\t\tclass=\"worldfirst_shortcode-mobile\">\n\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/WFT_BANNER_980x150.jpg\"\n                    alt=\"Worldfirst - Pay and get paid in multiple currencies.\"\n\t\t\t\t\tclass=\"worldfirst_shortcode-desktop\">\n\t\t\t<\/a>\n        <\/div>\n        \n<p>It will also affect businesses currently registered (or required to register) for the scheme and those supplying alcoholic products that carry duty stamps.<\/p>\n<h3>31 May: P60 deadline<\/h3>\n<add-to-calendar-button name=\"P60 deadline\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-05-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>If you\u2019re an employer, you must provide a P60 to every person who is on your payroll and working for your business on 5 April 2025 (the last day of the 2024-25 tax year). The deadline for issuing them is 31 May 2025, so you only have a short window in which to do so.<\/p>\n<p>A P60 shows an employee\u2019s total pay and deductions for the previous tax year. You can produce them using your payroll software. Alternatively, if you cannot do this or are exempt from filing your payroll online, you can <a href=\"https:\/\/www.gov.uk\/get-paye-forms-p45-p60\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">order P60 forms from HMRC<\/a>.<\/p>\n<p>You\u2019ll also need to issue a P60 to yourself if you\u2019re a company director and <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/taking-money-out-of-a-limited-company\/\" data-wpel-link=\"internal\">pay yourself a director&#8217;s salary<\/a>. However, you don\u2019t need to do this if you\u2019re a sole trader or self-employed partner in a business partnership.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>6 July: Report employee expenses and benefits<\/h3>\n<add-to-calendar-button name=\"Report employee expenses and benefits\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-07-06\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>If you provide any employees (or directors) with taxable expenses and benefits that aren\u2019t taxed through your payroll, you must submit P11D forms to HMRC by 6 July 2025.<\/p>\n<p>You must also file an online P11D(b) form to HMRC by 6 July 2025 to report any Class 1A National Insurance you owe on employee expenses and benefits for the 2024-25 tax year.<\/p>\n<h3>22 July: Pay Class 1A National Insurance<\/h3>\n<add-to-calendar-button name=\"Pay Class 1A National Insurance\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-07-22\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>The deadline for paying Class 1A National Insurance on employee expenses and benefits for the 2024-25 tax year is 22 July 2025 (or 19 July if you&#8217;re paying by cheque).<\/p>\n<h3>31 July: Second \u2018payment on account\u2019 for Self Assessment<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<add-to-calendar-button name=\"Second payment on account due\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-07-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>If you\u2019re required to make advance payments through Self Assessment, your second payment on account will be due by midnight on 31 July 2025. This will go towards your 2024-25 tax bill.<\/p>\n<h3>5 October: Self Assessment registration deadline<\/h3>\n<add-to-calendar-button name=\"Self Assessment registration deadline\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-10-05\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>Individuals and partnerships must register for Self Assessment before sending their first tax return to HMRC.<\/p>\n<p>If you need to file a Self Assessment tax return for the 2024-25 tax year, you must register by 5 October 2025. Online registration is the quickest and easiest option, but you can also register by post if required.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Use HMRC\u2019s online tool to <a href=\"https:\/\/www.gov.uk\/register-for-self-assessment\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">check how to register for Self Assessment<\/a>.<\/p>\n<h3>31 October: Deadline for paper Self Assessment tax returns<\/h3>\n<add-to-calendar-button name=\"Deadline for paper Self Assessment tax returns\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-10-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>While approximately 97% of Self Assessment customers file their tax returns online, some send paper returns by post. The deadline for sending a paper Self Assessment tax return for the 2024-25 tax year is midnight on 31 October 2025.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>However, if you\u2019re a trustee of a registered pension scheme or a non-resident company, you have until midnight on 31 January 2026 to send a return using a paper form.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>31 December: Reporting via \u2018real time\u2019 Capital Gains Tax service<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<add-to-calendar-button name=\"Reporting via &#039;real time&#039; Capital Gains Tax service\" options=\"&#039;Apple&#039;,&#039;Google&#039;\" startdate=\"2025-12-31\" description=\"Description with {b}bold{\/b} text.\"><\/add-to-calendar-button>\n<p>If you use HMRC\u2019s \u2018real time\u2019 Capital Gains Tax service, the deadline for reporting gains on assets sold during the 2024-25 tax year is 31 December 2025. You must pay any tax you owe by 31 January 2026.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>Changes to UK company law in 2025<\/h3>\n<p>Following the introduction of the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), several <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/changes-to-uk-company-law\/\" data-wpel-link=\"internal\">changes to UK company law<\/a> came into effect in 2024. Further measures from the ECCT Act will be implemented throughout 2025. We outlined these below:<\/p>\n<p><strong>January 2025:<span class=\"Apple-converted-space\">\u00a0<\/span><\/strong><\/p>\n<ul>\n<li>Individuals can apply to Companies House to <a href=\"https:\/\/changestoukcompanylaw.campaign.gov.uk\/protecting-your-information\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">suppress home address details<\/a> from historical documents on the public register where the address has been used as a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/registered-office-address\/\" data-wpel-link=\"internal\">registered office<\/a>.<\/li>\n<\/ul>\n<p><strong>Spring 2025:<\/strong><\/p>\n<ul>\n<li>Individuals will be able to apply to Companies House to suppress the following information from historical documents on the public register:\n<ul>\n<li>residential addresses (in most instances) where the details appear elsewhere on the register<\/li>\n<li>day of birth for documents registered before 10 October 2015 (since this date, only the month and year elements of DOBs have been publicly displayed)<\/li>\n<li>signatures<\/li>\n<li>business occupation<\/li>\n<\/ul>\n<\/li>\n<li>Organisations and sole traders undertaking anti-money laundering (AML) supervised activity in the UK can apply to register as <a href=\"https:\/\/changestoukcompanylaw.campaign.gov.uk\/authorised-corporate-service-providers\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Authorised Corporate Service Providers<\/a> (ACSPs). Doing so will authorise them to carry out\u202fverification services and submit information to Companies House on behalf of clients.<\/li>\n<\/ul>\n<p><strong>Summer 2025:<\/strong><\/p>\n<ul>\n<li>Companies House will allow access on request to certain trust information that it holds on the Register of Overseas Entities (ROE).<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>Autumn 2025:<\/strong><\/p>\n<ul>\n<li>Companies House will introduce a new identity verification process for company formations and appointments of new directors, <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/people-with-significant-control\/\" data-wpel-link=\"internal\">people with significant control<\/a> (PSCs), and members of limited liability partnerships (LLPs).<\/li>\n<li>A 12-month transition phase will begin for existing company directors, PSCs, and LLP members to verify their identity. This new identity verification requirement will be incorporated into the annual confirmation statement filing.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n<p>You can keep up to date with the implementation of these changes by signing up to <a href=\"https:\/\/changestoukcompanylaw.campaign.gov.uk\/more-information\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">receive emails and newsletters from Companies House<\/a>.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>Important dates for limited companies<\/h3>\n<p>UK <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/about-limited-companies\/\" data-wpel-link=\"internal\">limited companies<\/a> have various reporting and filing obligations for Companies House and HMRC. If you\u2019re a company director, the key duties and deadlines to know about are as follows:<\/p>\n<p><strong>Requirements for HMRC<\/strong><\/p>\n<ul>\n<li>Register for Corporation Tax with HMRC\u2014no later than 3 months after starting to do business.<\/li>\n<li>Paying <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-corporation-tax-works\/\" data-wpel-link=\"internal\">Corporation Tax<\/a>\u2014no later than 9 months and 1 day after the end of your company\u2019s Corporation Tax accounting period.<\/li>\n<li>File a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/preparing-a-company-tax-return\/\" data-wpel-link=\"internal\">Company Tax Return<\/a> with full annual accounts\u2014deliver to HMRC no later than 12 months after the end of the accounting period.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/when-should-i-register-for-vat\/\" data-wpel-link=\"internal\">Register for VAT<\/a> with HMRC\u2014when your total taxable turnover exceeds \u00a390,000 (VAT\u202fthreshold) in any 12-month period, or you expect to exceed the threshold in the next 30 days. Voluntary VAT registration is available when turnover is below the threshold.<\/li>\n<li>Send a VAT Return\u2014no later than 1 month and 7 days after the end of every 3-month VAT accounting period.<\/li>\n<li>Pay your VAT bill\u2014no later than 1 month and 7 days after the end of the relevant VAT accounting period.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Register as an employer\u2014before the first payday but not more than 2 months in advance.<\/li>\n<li>Complete regular PAYE tasks if your company is registered as an employer.<\/li>\n<\/ul>\n<p><strong>Requirements for Companies House<\/strong><\/p>\n<ul>\n<li>File an <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/confirmation-statement\/\" data-wpel-link=\"internal\">annual confirmation statement<\/a>\u2014at least once every 12 months, no later than 14 days after the first anniversary of incorporation or the date you filed the last statement.<\/li>\n<li>Prepare and file annual accounts\u2014first accounts due within 21 months of incorporation, then 9 months after the company\u2019s <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/accounting-reference-date\/\" data-wpel-link=\"internal\">accounting reference date<\/a> (ARD).<\/li>\n<li>Report any <a href=\"https:\/\/www.gov.uk\/running-a-limited-company\/company-changes-you-must-report\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">change of company details<\/a>\u2014on the next confirmation statement or within a limited timeframe for certain changes.<\/li>\n<\/ul>\n<p>Understanding and adhering to these important duties and deadlines will ensure your limited company remains legally compliant.<\/p>\n<h3>Thanks for reading<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>We hope you\u2019ve found this post informative and helpful as a UK business owner, company director, or employer. If you have any questions, please comment below.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>For more business advice and limited company guidance, explore the <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/\" data-wpel-link=\"internal\">Quality Company Formations Blog<\/a>.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div style=\"display: none\"><\/div>\n        \n"},"excerpt":{"rendered":"<p>Running a successful business relies on preparation, planning, and anticipating what&#8217;s around the corner. To help you stay organised throughout 2025, we outline some important dates that may be relevant to you as a UK business owner, including tax and filing deadlines, new tax year measures, changes to company law, and key obligations for limited&hellip;<\/p>\n","protected":false},"author":28,"featured_media":13095,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1234],"tags":[],"class_list":["post-13091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance-legal-filings","category-1234","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Important Dates for UK Business Owners in 2025<\/title>\n<meta name=\"description\" content=\"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important dates for UK business owners in 2025\" \/>\n<meta property=\"og:description\" content=\"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-01T15:47:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-06T10:52:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Important Dates for UK Business Owners in 2025","description":"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/","og_locale":"en_GB","og_type":"article","og_title":"Important dates for UK business owners in 2025","og_description":"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/","og_site_name":"Quality Formations Blog","article_published_time":"2025-01-01T15:47:33+00:00","article_modified_time":"2025-01-06T10:52:47+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/","name":"Important Dates for UK Business Owners in 2025","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg","datePublished":"2025-01-01T15:47:33+00:00","dateModified":"2025-01-06T10:52:47+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg","width":1000,"height":667,"caption":"Five post-it notes displaying the date '2025' and the words 'action', 'plan', 'to-do list', and 'goal', each attached to a wire notice board with pegs."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/important-dates-for-uk-business-owners-in-2025\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Important dates for UK business owners in 2025"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":707,"x_categories":"Compliance, Legal &amp; Filings","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131-450x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131-450x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/shutterstock_2525430131.jpg","x_date":"1 Jan 2025","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1234","_yoast_wpseo_focuskw":"important dates for uk business","_yoast_wpseo_title":"Important Dates for UK Business Owners in 2025","_yoast_wpseo_metadesc":"Key dates for UK business owners in 2025, including Self Assessment, new tax year measures, changes to company law, and company deadlines.","_yoast_wpseo_linkdex":"76","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"14","_thumbnail_id":"13095","_yoast_indexnow_last_ping":"1736160768","views":"707","_wp_old_date":"2024-12-31"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=13091"}],"version-history":[{"count":40,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13091\/revisions"}],"predecessor-version":[{"id":13147,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13091\/revisions\/13147"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/13095"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=13091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=13091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=13091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":13013,"date":"2024-12-01T16:56:52","date_gmt":"2024-12-01T16:56:52","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=13013"},"modified":"2024-12-17T17:11:45","modified_gmt":"2024-12-17T17:11:45","slug":"self-assessment-16-common-questions-answered","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/","title":{"rendered":"Self Assessment &#8211; 16 common questions answered\u00a0"},"content":{"rendered":"<p>Self Assessment is an HMRC system that individuals must use to declare and pay tax on certain types of income, including self-employed profits, shareholder dividends, and capital gains. To do so, they must file a Self Assessment tax return and pay what they owe to HMRC. <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>We answer 16 common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>1. Do I need to send a Self Assessment tax return?<\/h3>\n<p>Generally, any individual who receives income that isn\u2019t taxed &#8216;at source\u2019 through Pay As You Earn (PAYE) must send a Self Assessment tax return to HMRC. This includes anyone who:<\/p>\n<ul>\n<li>is self-employed as a sole trader with annual income above \u00a31,000 (before expenses and reliefs)<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>is a partner in a business partnership<\/li>\n<li>has to pay\u00a0Capital Gains Tax\u00a0on the sale or disposal of something that has increased in value<\/li>\n<li>receives untaxed tips or commission of \u00a32,500 or more<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>earns money from renting out property<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>receives more than \u00a310,000 from dividends, investments, or savings<\/li>\n<li>gets annual income from a trust or settlement<\/li>\n<li>receives foreign income (including from pensions)<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>needs to report certain pension payments or charges<\/li>\n<\/ul>\n<p>You may also need to file a tax return if you:<\/p>\n<ul>\n<li>receive more than \u00a3150,000 through PAYE as an employee or <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-role-and-responsibilities-of-a-company-director\/\" data-wpel-link=\"internal\">company director<\/a><\/li>\n<li>want to pay\u00a0voluntary National Insurance contributions (NIC)<\/li>\n<li>want to claim certain <a href=\"https:\/\/www.gov.uk\/income-tax-reliefs\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax reliefs<\/a> (e.g. on maintenance payments)<\/li>\n<li>are required to pay the\u00a0High Income Child Benefit Charge<\/li>\n<\/ul>\n<p>Use HMRC\u2019s online tool to <a href=\"https:\/\/www.gov.uk\/check-if-you-need-tax-return\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">check if you need to send a Self Assessment tax return<\/a>.<\/p>\n<h3>2. How do I register for Self Assessment?<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>You must <a href=\"https:\/\/www.gov.uk\/register-for-self-assessment\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">register for Self Assessment<\/a> before sending a tax return for the first time. Most people can register online. You can do this by creating an HMRC online tax account (or signing in to your existing one) and providing the following details:<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<ul>\n<li>full name and postal address<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>date of birth<\/li>\n<li>daytime telephone number<\/li>\n<li>UK National Insurance number (if you have one)<\/li>\n<li>the date you began self-employment or received the income you need to report<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>reason for registering for Self Assessment<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n<p>It can take HMRC up to 10 working days (21 if you\u2019re abroad) to confirm your Self Assessment registration and issue a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-is-a-utr-number\/\" data-wpel-link=\"internal\">Unique Taxpayer Reference (UTR)<\/a>. You\u2019ll also receive a 12-digit activation code in the post within 7 working days (21 if you\u2019re abroad). Sign in to your tax account to activate the Self Assessment service when it arrives.<\/p>\n            <div class=\"names_shortcode\">\n                <a href=\"https:\/\/acn.ionos.co.uk\/aff_c?offer_id=3&amp;aff_id=8964&amp;url_id=309\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/242634_Domains_Banner-Cooperation_QCF_325x340_UK.png\"\n                        alt=\"FREE .co.uk Domain Name.\"\n                        class=\"names_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/242634_Domains_Banner-Cooperation_QCF_980x150_UK.png\"\n                        alt=\"FREE .co.uk Domain Name.\"\n                        class=\"names_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p>If you can\u2019t register online, you can fill out <a href=\"https:\/\/public-online.hmrc.gov.uk\/lc\/content\/xfaforms\/profiles\/forms.html?contentRoot=repository:\/\/\/Applications\/Test\/1.0\/SA1&amp;template=SA1.xdp\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">form SA1<\/a>, then print and post it to HMRC. The postal address is shown on the form.<\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-guidance-for-company-directors-and-shareholders\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Self Assessment guidance for company directors and shareholders<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-requirements-for-limited-liability-partnerships\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Self Assessment requirements for limited liability partnerships (LLPs)<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/find-government-gateway-user-id\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Where can I find my Government Gateway user ID?<\/span><\/a>\n                    <\/p>\n<p>You must reactivate your tax account if you\u2019ve registered before but didn\u2019t send a tax return last year. You\u2019ll need your Government Gateway sign-in details and UTR to do so. Alternatively, if you can\u2019t use the online form, fill in <a href=\"https:\/\/public-online.hmrc.gov.uk\/lc\/content\/xfaforms\/profiles\/forms.html?contentRoot=repository:\/\/\/Applications\/NICs_iForms\/1.0&amp;template=CWF1_en_1.0.xdp\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">form CWF1<\/a> instead to reactivate your account.<\/p>\n<h3>3. Do I need to register for Self Assessment after setting up a company?<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>When you <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/set-up-a-limited-company-in-4-easy-steps\/\" data-wpel-link=\"internal\">set up a limited company<\/a>, you will need to register for Self Assessment if you receive:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-are-dividends\/\" data-wpel-link=\"internal\">dividends from shares<\/a><\/li>\n<li>a reimbursement of business expenses from the company<\/li>\n<li>a <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/directors-loan\/\" data-wpel-link=\"internal\">director\u2019s loan<\/a><\/li>\n<li>any other income not taxed through PAYE <span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ul>\n<p>If you\u2019re a company director with income taxed at source (through PAYE) and no further tax to pay, you don\u2019t need to register or complete a tax return\u2014unless your <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/pay-yourself-through-limited-company\/\" data-wpel-link=\"internal\">director\u2019s salary<\/a> is more than \u00a3150,000 a year.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>4. What tax can I pay through Self Assessment?<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>The type of tax you pay through Self Assessment depends on the type of income you report on your tax return. You may have to pay one or more of the following:<\/p>\n<ul>\n<li>Income Tax and Class 4 National Insurance contributions\u2014if you\u2019re self-employed, a landlord, or receive untaxed income from certain other sources<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/what-are-the-dividend-tax-rates-in-the-uk\/\" data-wpel-link=\"internal\">Dividend Tax<\/a>\u2014if you receive dividend income from shares<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>Capital Gains Tax\u2014if you make a profit (\u2018gain\u2019) from selling or disposing of an asset that has increased in value<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.gov.uk\/voluntary-national-insurance-contributions\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Voluntary National Insurance contributions<\/a> (Class 2 or Class 3)\u2014if you need to fill any gaps in your NI record<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/www.gov.uk\/repaying-your-student-loan\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Student loan repayments<\/a>\u2014if your annual income exceeds the threshold for your repayment plan<\/li>\n<\/ul>\n<p>From 6 April 2024, Class 2 National Insurance is no longer payable by self-employed individuals. However, they\u2019ll still receive access to contributory benefits (including the State Pension) if their profits are above \u00a36,725 a year (the NIC Lower Profits Limit).<\/p>\n<p>If you\u2019re self-employed and your annual profits are under \u00a36,725, you can pay voluntary Class 2 contributions to avoid gaps in your record and protect your entitlement to benefits.<\/p>\n<h3>5. How do I send a Self Assessment tax return?<\/h3>\n<p>Once you&#8217;ve registered for Self Assessment and activated the service in your online account, you can send a tax return (form SA100) to HMRC online or by post. The online option is quicker and simpler. You also get an additional three months to file, and it\u2019s much easier to make changes if you need to fix a mistake.<\/p>\n                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-tax-return-mistakes\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">6 common Self Assessment tax return mistakes and how to avoid them<\/span><\/a>\n                    \n<p>To complete and file a tax return online, follow these steps:<\/p>\n<ol>\n<li>Sign in to your HMRC account\u2014you&#8217;ll need your Government Gateway user ID and password<\/li>\n<li>Enter your personal information\u2014name, date of birth, Unique Taxpayer Reference, National Insurance number, and contact details<\/li>\n<li>Select your taxpayer residency status\u2014English and Northern Irish, Scottish, or Welsh<\/li>\n<li>Tailor your tax return by answering &#8216;Yes&#8217; or No&#8217; to a series of questions\u2014this will ensure you only fill in the supplementary sections of the return that apply to you<\/li>\n<li>Follow the instructions on-screen to complete the main section of the return and any supplementary pages provided<\/li>\n<li>Once complete, check that you&#8217;ve answered all of the questions and entered the correct information\u2014you can go back if you need to correct anything<\/li>\n<li>View your calculation to see how much you owe (if anything)\u2014save a copy for your records<\/li>\n<li>Submit your tax return to HMRC\u2014you&#8217;ll need to re-enter your user ID and password<\/li>\n<\/ol>\n<p>You will get an online message to confirm that HMRC has received it. Approximately 72 hours after submission, you should be able to view your return in your online account. If you need to correct anything, you can make changes to your tax return at this point.<\/p>\n<h4>When you can&#8217;t send a return online<\/h4>\n<p>You can&#8217;t use HMRC&#8217;s online service to file your tax return if you:<\/p>\n<ul>\n<li>live abroad as a non-UK resident<\/li>\n<li>are submitting a return for a partnership, a trust, or an estate<\/li>\n<li>need to report <a href=\"https:\/\/www.gov.uk\/government\/publications\/gains-on-uk-life-insurance-policies-hs320-self-assessment-helpsheet\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">multiple chargeable gains<\/a> from life insurance policies<\/li>\n<li>receive income from a trust, or you&#8217;re a religious minister or Lloyd\u2019s underwriter<\/li>\n<\/ul>\n<p>In these situations, you must use commercial software or download\/request the relevant forms instead.<\/p>\n<h4>Sending your tax return by post<\/h4>\n<p>If you need to <a href=\"https:\/\/www.gov.uk\/self-assessment-tax-returns\/sending-return\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">send your Self Assessment tax return by post<\/a>, you can download the SA100 tax return form or call HMRC to request a copy. You can also download any supplementary pages you require.<\/p>\n<p>If you need to send a Self Assessment tax return for trustees of a registered pension, you must download form SA970.<\/p>\n<h3>6. What information do I need to include in my tax return?<\/h3>\n<p>Before you get started, make sure you have all the information you need, including:<\/p>\n<ul>\n<li>your Unique Taxpayer Reference<\/li>\n<li>your National Insurance number<\/li>\n<li>Invoices, bank statements, or other documents detailing any untaxed income earned in the tax year (e.g. from self-employment, dividends, or interest)<\/li>\n<li>records of business expenses<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>details of <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/can-my-own-company-make-contributions-towards-my-pension\/\" data-wpel-link=\"internal\">pension contributions<\/a> or charitable donations that may be eligible for tax relief<\/li>\n<li>your payslips, P60 (End of Year Certificate), form P11D (Expenses and Benefits), form P2 (Tax Coding Notice), and other records that show any employment income you\u2019ve received and the tax already paid in the year<\/li>\n<\/ul>\n<p>Your Self Assessment tax return comprises the main section (SA100) and certain supplementary pages based on the type of income you need to declare.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div class=\"hubspot_shortcode\">\n                <a href=\"https:\/\/hubspot.sjv.io\/OrKdGZ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_mobile.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_desktop.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p>In the main section, you will provide the following information:<\/p>\n<ul>\n<li>dividends and other distributions from UK companies<\/li>\n<li>interest from UK bank, building society, and other savings accounts<\/li>\n<li>UK pensions, annuities and other state benefits received<\/li>\n<li>Tax reliefs on pension contributions, charitable giving, and specific allowances<\/li>\n<\/ul>\n<p>In the <a href=\"https:\/\/www.gov.uk\/self-assessment-tax-return-forms\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Self Assessment supplementary pages<\/a>, you can provide information relating to (where relevant):<\/p>\n<ul>\n<li>income and expenses relating to self-employment\u2014if you work for yourself or were a subcontractor working in the construction industry<\/li>\n<li>employment income\u2014if you\u2019re an employee, agency worker, company director, or office holder<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>partnership income\u2014if you\u2019re a partner in a general business partnership, LLP, or limited partnership<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>income from UK property<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>foreign income\u2014e.g. from savings, dividends, pensions, or property<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>capital gains on the disposal of assets<\/li>\n<\/ul>\n<p>The online tax return form provides explanations and instructions throughout. You should also read HMRC\u2019s detailed <a href=\"https:\/\/www.gov.uk\/government\/publications\/self-assessment-tax-return-sa100\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">guidance on completing your tax return<\/a> for Self Assessment.<\/p>\n<h3>7. What happens if I make a mistake on my Self Assessment tax return?<\/h3>\n<p>If you file online, you can easily change your tax return after submission\u2014for example, if you make a mistake or forget to include something.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>You can <a href=\"https:\/\/www.gov.uk\/self-assessment-tax-returns\/corrections\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">amend a Self Assessment tax return<\/a> within 12 months of the filing deadline, either online through your account or by sending another paper return by post.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/landlord-tax-guide-buying-selling-letting-property\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Landlord tax guide &#8211; including buying, selling, and letting property<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/side-hustle-tax\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Side hustle tax &#8211; what you need to know<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/7-types-of-business-taxes\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">7 types of business taxes you need to know about<\/span><\/a>\n                    <\/p>\n<p>For example, if you file a tax return for the 2024-25 tax year by the online filing deadline of 31 January 2026, you have until 31 January 2027 to update the return.<\/p>\n<p>HMRC will update your bill based on the changes you report. Depending on the update, you may have to pay more tax or claim a tax refund.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>If you need to make changes after 12 months or to a tax return from an earlier year, you must write to HMRC.<\/p>\n<h4>How to amend an online tax return<\/h4>\n<p>If you filed online, follow these steps to make changes to your tax return:<\/p>\n<ol>\n<li>Sign in to your tax account<\/li>\n<li>Click on the \u2018Self Assessment\u2019 box<\/li>\n<li>Scroll down the page and select \u2018More Self Assessment details\u2019<\/li>\n<li>Click on \u2018At a glance\u2019 from the left-hand menu<\/li>\n<li>Scroll down and select \u2018Tax return options\u2019<\/li>\n<li>Select the tax year you want to amend, then click \u2018Go\u2019<\/li>\n<li>Scroll down and choose \u2018Amend return\u2019 to make the corrections and file it again<\/li>\n<\/ol>\n<p>You&#8217;ll need to wait at least 3 days (72 hours) after the initial submission before you can update your tax return.<\/p>\n<h4>How to amend a paper tax return<\/h4>\n<p>If you submitted your tax return on paper, you can amend it by:<\/p>\n<ul>\n<li>downloading the SA100 tax return form<\/li>\n<li>calling HMRC and asking for the SA100 tax return form<\/li>\n<li>downloading any other forms and supplementary pages you require<\/li>\n<\/ul>\n<p>You must write \u2018amendment\u2019 on each page, include your name and UTR, and send the updated pages to the address on your Self Assessment paperwork.<\/p>\n<p>If you can\u2019t find the address, send your amended forms to: Self Assessment, HM Revenue and Customs, BX9 1AS.<\/p>\n<h3>8. Do I need an accountant to prepare my tax return?<\/h3>\n<p>You don\u2019t need an accountant or tax advisor to prepare and file your Self Assessment tax return. If your affairs are simple and you can do so, you can complete the tax return yourself.<\/p>\n<p>However, if you\u2019re running a business, claiming lots of expenses, or your requirements are complex, it\u2019s worthwhile seeking expert help and advice from a professional. Doing so can save you time and money in the long run.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<h3>9. Where can I find my Unique Taxpayer Reference?<\/h3>\n<p>You\u2019ll receive your 10-digit Unique Taxpayer Reference (UTR) from HMRC when you register for Self Assessment. HMRC uses this number to identify you for Self Assessment purposes.<\/p>\n<p>Your UTR should arrive by post within 15 days of registration, or slightly longer if you live overseas. It will be printed on the top right-hand side of the letter and may be called a \u2018tax reference\u2019.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n            <div style=\"display: none\"><\/div>\n        \n<p>However, you should be able to find your Unique Taxpayer Reference sooner in your <a href=\"https:\/\/www.gov.uk\/personal-tax-account\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">personal tax account<\/a> or the <a href=\"https:\/\/www.gov.uk\/guidance\/download-the-hmrc-app\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">HMRC app<\/a>.<\/p>\n<p>You will use your UTR on many occasions, including when sending or amending Self Assessment tax returns, paying your personal tax bills, claiming refunds, and contacting HMRC about anything else relating to Self Assessment.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>It will be included on previous tax returns and other correspondence from HMRC, such as notices to file a tax return, payment reminders, and late filing notices.<\/p>\n<h3>10. What are the Self Assessment deadlines?<\/h3>\n<p>There are several Self Assessment deadlines you need to know. They fall after the end of the tax year that you&#8217;re reporting in your tax return.<\/p>\n<ul>\n<li>5 October &#8211; register for Self Assessment if you haven&#8217;t sent a tax return before<\/li>\n<li>31 October &#8211; submitting a paper return by post<\/li>\n<li>31 January &#8211; file an online tax return<\/li>\n<li>31 January &#8211; pay any tax you owe and make your first payment on account towards your next bill (if applicable)<\/li>\n<li>31 July &#8211; make your second payment on account towards your next tax bill (if applicable)<\/li>\n<\/ul>\n<p>For example, if you need to send a tax return for the 2024-25 tax year, you must send your return by 31 October 2025 (by post) or 31 January 2026 (online).<span class=\"Apple-converted-space\"> If you owe any tax, payment will also be due by 31 January 2026.\u00a0<\/span><\/p>\n<h4>When the deadlines may be different<\/h4>\n<p>The Self Assessment deadlines may be different if:<\/p>\n<ul>\n<li>you want HMRC to automatically collect any tax you owe from your wages and pension &#8211; submit an online return by 30 December<\/li>\n<li>you\u2019re a trustee of a registered pension scheme or non-resident company &#8211; send a\u00a0paper tax return by 31 January (you can&#8217;t file an online return in these circumstances)<\/li>\n<li>your partnership\u2019s accounting date is between 1 February and 5 April, and one of the partners is a limited company &#8211; file a paper return no later than 9 months after the accounting date, or an online return no later than 12 months after the accounting date<\/li>\n<\/ul>\n<p>If you miss any of these deadlines, you can still submit your return and pay your bill. However, you will incur penalties.<\/p>\n<h3>11. How do I pay my Self Assessment bill?<\/h3>\n<p>You&#8217;re responsible for <a href=\"https:\/\/www.gov.uk\/pay-self-assessment-tax-bill\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">paying your Self Assessment tax bill<\/a> to HMRC by the deadline. You can use one of the following payment methods:<\/p>\n<ul>\n<li>through your online bank account<\/li>\n<li>using online or telephone banking (Faster Payments)<\/li>\n<li>using the <a href=\"https:\/\/www.gov.uk\/guidance\/download-the-hmrc-app\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">HMRC app<\/a> to pay through your bank\u2019s app or online banking<\/li>\n<li>by CHAPS or Bacs<\/li>\n<li>online by debit or corporate credit card<\/li>\n<li>at your bank or building society (you&#8217;ll need a paying-in slip from HMRC<abbr title=\"HM Revenue and Customs\">)<\/abbr><\/li>\n<li>by Direct Debit<\/li>\n<li>by cheque through the post<\/li>\n<li><a href=\"https:\/\/www.gov.uk\/pay-self-assessment-tax-bill\/through-your-tax-code\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">through your PAYE tax code<\/a><\/li>\n<\/ul>\n<p>Alternatively, you can <a href=\"https:\/\/www.gov.uk\/pay-self-assessment-tax-bill\/pay-weekly-monthly\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">set up a Budget Payment<\/a> plan to pay in instalments. This will allow you to make weekly or monthly Direct Debit payments towards your next bill, which may help you manage your finances better.<\/p>\n<h3>12. I can\u2019t pay my tax bill on time\u2014what should I do?<\/h3>\n<p>You must contact HMRC as soon as possible if you <a href=\"https:\/\/www.gov.uk\/difficulties-paying-hmrc\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">can&#8217;t afford to pay your Self Assessment tax bill<\/a> or you&#8217;re unable to pay on time for any other reason.<\/p>\n<p>If you can&#8217;t pay it in full, you can set up a payment plan, known as a &#8216;Time to Pay&#8217; arrangement. This will enable you to pay in instalments over months.<\/p>\n<p>If you don&#8217;t contact HMRC or can&#8217;t agree on an instalment plan, HMRC may:<\/p>\n<ul>\n<li>instruct a debt collection agency to collect the money<\/li>\n<li>collect what you owe directly from your wages or monthly pension payments<\/li>\n<li>seize certain personal assets and sell them (if you live in England, Wales, or Northern Ireland)<\/li>\n<li>take money directly from your bank account or building society savings (if you live in England, Wales, or Northern Ireland)<\/li>\n<li>take you to court<\/li>\n<li>apply to the court to make you bankrupt<\/li>\n<\/ul>\n<p>Any costs HMRC incurs (e.g. auction fees) may be added to your debt. However, before taking any debt recovery actions, HMRC will notify you and explain your rights, options, and the associated costs.<\/p>\n<h3>13. What happens if I miss a Self Assessment deadline?<\/h3>\n<p>HMRC will impose the following penalties if you miss the deadline for filing your Self Assessment tax return:<\/p>\n<ul>\n<li>automatic \u00a3100 fine &#8211; up to 3 months late (even if you miss the deadline by only 1 day)<\/li>\n<li>\u00a310 per day up to a maximum of \u00a3900 &#8211; more than 3 months late<\/li>\n<li>5% of the tax bill, or \u00a3300 (whichever is greater) &#8211; more than 6 months late<\/li>\n<li>additional 5% of outstanding tax, or \u00a3300 (whichever is greater) &#8211; more than 12 months late<\/li>\n<\/ul>\n<p>If you fail to pay the tax you owe by the relevant deadline, there should be no late payment penalties if you settle your bill within 30 days of the due date. After that, HMRC will impose the following penalties:<\/p>\n<ul>\n<li>5% of tax due &#8211; unpaid after 30 days<\/li>\n<li>additional 5% of outstanding tax &#8211; unpaid after 6 months<\/li>\n<li>another 5% of outstanding tax &#8211; unpaid after 12 months<\/li>\n<\/ul>\n<p>You\u2019ll also be charged interest on late payments until you pay your bill in full.<\/p>\n<h3>14. Can I claim a Self Assessment tax refund?<\/h3>\n<p>You may be able to claim a refund (rebate) from HMRC if you&#8217;ve paid too much tax. However, if more tax is due in the next 45 days (e.g. for a payment on account), the overpaid amount will be deducted from that balance.<\/p>\n                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/tax-on-business-expenses\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Do I pay tax on my business expenses?<\/span><\/a>\n                    \n<p>There are different ways to claim, depending on what you&#8217;ve paid too much tax on. For example, if the overpayment relates to a Self Assessment tax return or bill, you must claim a refund through your online account.<\/p>\n<p>HMRC provides an online tool that you can use to <a href=\"https:\/\/www.gov.uk\/claim-tax-refund\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">check how to claim a tax refund<\/a>.<\/p>\n<h3>15. What records do I need to keep for Self Assessment?<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>You must keep all records of the income and expenditure you report on your Self Assessment tax returns. These <a href=\"https:\/\/www.gov.uk\/keeping-your-pay-tax-records\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">pay and tax records<\/a> should be kept for at least:<\/p>\n<ul>\n<li>5 years after the 31 January filing deadline of the relevant tax year &#8211; if the records relate to your self-employed business income and costs<\/li>\n<li>at least 22 months after the end of the tax year covered in the tax return &#8211; if you send the tax return on or before the filing deadline<\/li>\n<li>at least 15 months after you send the tax return &#8211; if you file a late tax return after the deadline<\/li>\n<\/ul>\n<p>You don&#8217;t need to include copies of your records with your tax returns. However, HMRC may ask to check them to ensure you\u2019re paying the correct amount of tax. If your records are found to be inaccurate, incomplete, or unreadable, HMRC may charge you a penalty.<\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p>Currently, you can keep your Self Assessment records on paper, digitally, or as part of a software program (e.g. bookkeeping software). However, through <a href=\"https:\/\/www.gov.uk\/government\/publications\/extension-of-making-tax-digital-for-income-tax-self-assessment-to-sole-traders-and-landlords\/making-tax-digital-for-income-tax-self-assessment-for-sole-traders-and-landlords\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Making Tax Digital for Income Tax Self Assessment<\/a> (MTD for ITSA), businesses and landlords with qualifying income will be required by law to maintain digital records. These changes will be introduced from April 2026.<\/p>\n<p>You must tell HMRC if you&#8217;re no longer self-employed as a sole trader or a partner in a business partnership. You can do this through your business tax account.<\/p>\n<p>If you no longer need to send a Self Assessment tax return for any other reason (e.g. your PAYE income is below \u00a3150,000 or you&#8217;ve stopped being a landlord), you can notify HMRC in the following ways:<\/p>\n<ul>\n<li>by filling in an online form in your tax account<\/li>\n<li>online using\u00a0HMRC\u2019s digital assistant<\/li>\n<li>by phone or post<\/li>\n<\/ul>\n<p>If HMRC agrees to <a href=\"https:\/\/www.gov.uk\/self-assessment-tax-returns\/no-longer-need-to-send-a-tax-return\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">cancel your Self Assessment registration<\/a>, you will receive a letter to confirm that you don&#8217;t need to send a tax return.<\/p>\n<h3>Thanks for reading<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>Please comment below if you have any questions about Self Assessment you&#8217;d like us to answer.<\/p>\n<p>Explore the <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/\" data-wpel-link=\"internal\">Quality Company Formations Blog<\/a> for business advice, insights, and limited company guidance.<\/p>\n"},"excerpt":{"rendered":"<p>Self Assessment is an HMRC system that individuals must use to declare and pay tax on certain types of income, including self-employed profits, shareholder dividends, and capital gains. To do so, they must file a Self Assessment tax return and pay what they owe to HMRC. \u00a0 We answer 16 common questions about Self Assessment,&hellip;<\/p>\n","protected":false},"author":28,"featured_media":13023,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1239],"tags":[],"class_list":["post-13013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-accounting-finance","category-1239","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Self Assessment - 16 Common Questions Answered<\/title>\n<meta name=\"description\" content=\"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Self Assessment - 16 common questions answered\u00a0\" \/>\n<meta property=\"og:description\" content=\"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-01T16:56:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-17T17:11:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Self Assessment - 16 Common Questions Answered","description":"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/","og_locale":"en_GB","og_type":"article","og_title":"Self Assessment - 16 common questions answered\u00a0","og_description":"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-12-01T16:56:52+00:00","article_modified_time":"2024-12-17T17:11:45+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"15 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/","name":"Self Assessment - 16 Common Questions Answered","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg","datePublished":"2024-12-01T16:56:52+00:00","dateModified":"2024-12-17T17:11:45+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg","width":1500,"height":750,"caption":"HMRC Notice to complete Self Assessment tax return seen on the authentic paper letters. Stafford with a large headline of 'FAQs' in white font."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/self-assessment-16-common-questions-answered\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Self Assessment &#8211; 16 common questions answered\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":523,"x_categories":"Tax, Accounting &amp; Finance","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/12\/Shutterstock_2390724773.jpg","x_date":"1 Dec 2024","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1239","_yoast_wpseo_focuskw":"Self Assessment","_yoast_wpseo_linkdex":"81","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"15","_yoast_wpseo_title":"Self Assessment - 16 Common Questions Answered","_yoast_wpseo_metadesc":"We answer common questions about Self Assessment, including how to register, who needs to file a tax return, and how to pay your tax bill.\u00a0","_thumbnail_id":"13023","_yoast_indexnow_last_ping":"1734455506","views":"523"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=13013"}],"version-history":[{"count":26,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13013\/revisions"}],"predecessor-version":[{"id":13052,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/13013\/revisions\/13052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/13023"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=13013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=13013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=13013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12967,"date":"2024-11-07T10:01:14","date_gmt":"2024-11-07T10:01:14","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12967"},"modified":"2024-12-17T17:10:53","modified_gmt":"2024-12-17T17:10:53","slug":"the-worker-protection-act-brief-guide-for-employers","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/","title":{"rendered":"The Worker Protection Act: a brief guide for employers"},"content":{"rendered":"<p>The Worker Protection (Amendment of Equality Act 2010) Act 2023 came into effect on 26 October 2024. Under this change in legislation, all UK employers now have a legal duty to prevent sexual harassment of their workers and create a safe working environment.<\/p>\n<p>This post provides a brief overview of the Worker Protection Act and the preventative measures you, as an employer, must consider.<\/p>\n<h3>Employers\u2019 duty to prevent sexual harassment<span class=\"Apple-converted-space\">\u00a0<\/span><\/h3>\n<p>Following the implementation of the <a href=\"https:\/\/www.legislation.gov.uk\/ukpga\/2023\/51\/contents\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">Worker Protection (Amendment of Equality Act 2010) Act 2023<\/a> (the \u2018Worker Protection Act\u2019), employers must take \u201creasonable steps\u201d to prevent sexual harassment of their employees, including by third parties such as clients and customers.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>This preventative duty requires employers to proactively assess risk, identify any appropriate action, and carry out regular reviews of their processes. They must not wait until sexual harassment happens. If it has already happened, the employer must take action to prevent it from happening again.<\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/new-employment-laws\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">New employment laws for 2024 you need to know<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/changes-to-uk-company-law\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Changes to UK company law &#8211; what you need to know<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Are sabbaticals the answer to higher employee retention?<\/span><\/a>\n                    <\/p>\n<p>Prior to this change in the law, employers were not legally obligated to take proactive measures to prevent sexual harassment of workers in the course of their employment.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>Commenting on the changes to legislation, Baroness Kishwer Falkner, Chairwoman of the Equality and Human Rights Commission, said:<\/p>\n<blockquote><p>&#8220;Sexual harassment continues to be widespread and often under-reported. Everyone has a right to feel safe and supported at work.<\/p>\n<p>The new preventative duty \u2026 aims to improve workplace cultures by requiring employers to proactively protect their workers from sexual harassment.<\/p>\n<p>Employers will need to take reasonable steps to safeguard their workers. We have updated our guidance to ensure they understand their obligations and the kinds of steps they can take.<\/p>\n<p>We will be monitoring compliance with the new duty and will not hesitate to take enforcement action where necessary.\u201d<\/p><\/blockquote>\n<h4>What are \u201creasonable steps\u201d to prevent sexual harassment?<\/h4>\n<p>The Worker Protection Act doesn\u2019t specify what reasonable steps an employer should take. However, the updated technical guidance from the Equality and Human Rights Commission (EHRC) recommends implementing the following <a href=\"https:\/\/www.equalityhumanrights.com\/employer-8-step-guide-preventing-sexual-harassment-work\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">8 practical actions<\/a> to prevent and deal with sexual harassment in the workplace:<\/p>\n<ol>\n<li>Develop and widely communicate a robust anti-harassment policy, which includes third-party sexual harassment.<\/li>\n<li>Be proactively aware of what\u2019s happening in the workplace and any warning signs, by engaging with staff through one-to-ones, surveys, and exit interviews.<\/li>\n<li>Undertake regular risk assessments in the workplace to identify where sexual harassment may occur and the steps that will be taken to prevent it.<\/li>\n<li>Consider using a reporting system (e.g. an online or independent phone-based service) that allows workers to raise issues either anonymously or in name.<\/li>\n<li>Ensure all workers (including managers and senior staff) receive training on what sexual harassment in the workplace looks like, what to do if they experience or witness it, and how to handle complaints of harassment. Doing so will help employers create the right culture.<\/li>\n<li>Act immediately to resolve any sexual harassment complaints.<\/li>\n<li>Treat harassment by third parties just as seriously as harassment by colleagues, ensuring risk assessments and reporting mechanisms are in place.<\/li>\n<li>Monitor and evaluate the effectiveness of the steps taken and actions implemented.<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<\/ol>\n<p>The EHRC\u2019s guidance also states that reasonable steps will vary from employer to employer, depending on variables such as:<\/p>\n<ul>\n<li>size and resources of the employer<\/li>\n<li>nature of the working environment<\/li>\n<li>sector in which the employer operates<\/li>\n<li>risks present in that particular workplace<\/li>\n<li>nature of any contact with third parties<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>likely effect of taking a particular step, and whether an alternative step may be more effective<\/li>\n<li>time, cost, and potential disruption of taking a particular step, weighed against the potential benefit of doing so<\/li>\n<li>any previous concerns raised by workers<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li>effectiveness of any previous steps taken<\/li>\n<\/ul>\n<p>To ensure compliance, we recommend reading the EHRC&#8217;s updated <a href=\"https:\/\/www.equalityhumanrights.com\/guidance\/sexual-harassment-and-harassment-work-technical-guidance\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">technical guidance for employers on preventing sexual harassment<\/a> and the Acas <a href=\"https:\/\/www.acas.org.uk\/sexual-harassment\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">guide\u00a0to creating a sexual harassment policy<\/a>.\u00a0These comprehensive resources also explain the behaviour employers need to address and how to handle complaints.<\/p>\n<h3>Failing to comply with the Worker Protection Act<\/h3>\n<p>By law, employers have a duty of care towards their employees\u2019 health, safety, and well-being at work. As such, failing to comply with the requirements of the Worker Protection Act is an offence.<\/p>\n<p>The Equality and Human Rights Commission has the power to take enforcement action against any employer who fails to take reasonable steps to prevent sexual harassment\u2014even where no incident of sexual harassment has taken place.<\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p>Furthermore, if any <a href=\"https:\/\/www.gov.uk\/courts-tribunals\/employment-tribunal\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">employment tribunal<\/a> determines that an employee has been sexually harassed, the employer may have to pay an additional 25% (maximum uplift) in compensation if the preventative duty has not been met.<\/p>\n<p>While an employee cannot bring a claim against their employer for failing in the preventative duty, breaches of this duty will automatically be examined during an employment tribunal for sexual harassment.<\/p>\n<h3>Thanks for reading<\/h3>\n<p>We hope you&#8217;ve found this post informative. If you&#8217;re an employer and need help or advice on your new duties under the Worker Protection Act, you can <a href=\"https:\/\/www.acas.org.uk\/contact\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">contact the Acas helpline<\/a> or <a href=\"https:\/\/www.acas.org.uk\/tailored-support-for-your-workplace\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">get tailored support for your organisation<\/a>.<\/p>\n<p>Explore the <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/\" data-wpel-link=\"internal\">Quality Company Formations Blog<\/a> for business news, insights, and limited company guidance.<\/p>\n"},"excerpt":{"rendered":"<p>The Worker Protection (Amendment of Equality Act 2010) Act 2023 came into effect on 26 October 2024. Under this change in legislation, all UK employers now have a legal duty to prevent sexual harassment of their workers and create a safe working environment. This post provides a brief overview of the Worker Protection Act and&hellip;<\/p>\n","protected":false},"author":27,"featured_media":12971,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1234],"tags":[],"class_list":["post-12967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-compliance-legal-filings","category-1234","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Workers Protection Act: A Brief Guide for Employers<\/title>\n<meta name=\"description\" content=\"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Worker Protection Act: a brief guide for employers\" \/>\n<meta property=\"og:description\" content=\"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-07T10:01:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-17T17:10:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"James Dobran\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James Dobran\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Workers Protection Act: A Brief Guide for Employers","description":"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/","og_locale":"en_GB","og_type":"article","og_title":"The Worker Protection Act: a brief guide for employers","og_description":"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-11-07T10:01:14+00:00","article_modified_time":"2024-12-17T17:10:53+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg","type":"image\/jpeg"}],"author":"James Dobran","twitter_misc":{"Written by":"James Dobran","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/","name":"The Workers Protection Act: A Brief Guide for Employers","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg","datePublished":"2024-11-07T10:01:14+00:00","dateModified":"2024-12-17T17:10:53+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d"},"description":"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg","width":1500,"height":750,"caption":"Female business professional holding a hand out in front of her signifying a 'stop' sign."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/the-worker-protection-act-brief-guide-for-employers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"The Worker Protection Act: a brief guide for employers"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d","name":"James Dobran","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","caption":"James Dobran"},"description":"James is Deputy Director of Operations at QCF, responsible for managing and optimising the business\u2019 daily operational functions. He greatly values customer-centricity and service standard improvements, bolstered by qualifications in Management and Leadership from the Chartered Management Institute and certifications in Sales Management and Customer Service Excellence.","jobTitle":"Deputy Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/james-dobran\/"}]}},"views":571,"x_categories":"Compliance, Legal &amp; Filings","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/11\/Shutterstock_2310717313.jpg","x_date":"7 Nov 2024","x_author":"James Dobran","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","x_metadata":{"yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1234","_yoast_wpseo_focuskw":"Worker Protection Act","_yoast_wpseo_linkdex":"80","_yoast_wpseo_content_score":"30","_yoast_wpseo_focuskeywords":"[{\"keyword\":\"prevent sexual harassment\",\"score\":57}]","_yoast_wpseo_keywordsynonyms":"[\"\",\"\"]","_yoast_wpseo_estimated_reading_time_minutes":"4","_yoast_wpseo_title":"The Workers Protection Act: A Brief Guide for Employers","_yoast_wpseo_metadesc":"A brief overview of the Worker Protection Act (effective 26 Oct 2024) and the preventative measures you must consider as an employer.","_thumbnail_id":"12971","_yoast_indexnow_last_ping":"1734455454","views":"571"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12967"}],"version-history":[{"count":6,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12967\/revisions"}],"predecessor-version":[{"id":13051,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12967\/revisions\/13051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12971"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12942,"date":"2024-10-30T12:28:49","date_gmt":"2024-10-30T12:28:49","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12942"},"modified":"2024-11-08T13:50:57","modified_gmt":"2024-11-08T13:50:57","slug":"2024-autumn-budget-report-for-smes","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/","title":{"rendered":"2024 Autumn Budget Report for SMEs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Rachel Reeves, Chancellor of the Exchequer, delivered the greatly anticipated 2024 Autumn Budget on 30 October. Her speech outlined the economy&#8217;s health and the Labour government\u2019s plans to reset the trajectory of public spending and taxation during their time in parliament.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Commenting on the inheritance of a \u201c\u00a322 billion black hole\u201d in missing funding from the previous government, Ms Reeves highlighted the need to \u201cinvest, invest, invest\u201d to drive economic growth in the UK.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This budget is set to raise taxes by \u00a340 billion, making it the biggest tax-raising budget in history.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below, we outline the key changes that will impact UK business owners.<\/span><\/p>\n<h3>What hasn&#8217;t changed?<\/h3>\n<p><span style=\"font-weight: 400;\">As expected, <\/span><span style=\"font-weight: 400;\">employees\u2019 Income Tax, National Insurance contributions (NIC), and VAT will not increase for the time being. However, from 2028\/29, personal tax thresholds will be uprated in line with inflation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesses will also not have to worry about any increases to Corporation Tax (CT). For the duration of Labour\u2019s time in parliament, the government has committed to capping the rate of CT at 25%, maintaining the Small Profits Rate and Marginal Relief at current rates and thresholds, and maintaining Full Expensing, the Annual Investment Allowance, R&amp;D relief rates, and the Patent Box.<\/span><\/p>\n<h3>Employers&#8217; National Insurance to rise to 15%<\/h3>\n<p><span style=\"font-weight: 400;\">Employers currently pay National Insurance of 13.8% on a worker&#8217;s earnings above \u00a3175 a week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Chancellor announced that this will increase by 1.2 percentage points to 15% from April 2025. Also, the threshold at which employers start paying National Insurance on each employee\u2019s salary will reduce from \u00a39,100 a year to \u00a35,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This change will not immediately impact employees, and they will see no difference in their take-home pay, but it will leave businesses with higher costs. This could result in companies limiting pay raises or reducing the pension contributions they make for new staff.\u00a0<\/span><\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p><span data-teams=\"true\"><span class=\"ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak\" dir=\"ltr\">This will also make the salary sacrifice system more attractive for employers. Salary sacrifice is an agreement where an employee&#8217;s salary in reduced in exchange for increased pension contributions or other benefits. By using this system, employers can effectively reduce the amount of National Insurance they must pay on an employees&#8217; salaries.\u00a0<\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another potential side effect of higher employer NICs is that it may incentivise businesses to hire people as contractors rather than employees, and more people may become self-employed.\u00a0<\/span><\/p>\n<h3>Employment Allowance more than doubling<\/h3>\n<p>Employment Allowance, the government programme that helps smaller businesses reduce their employer\u2019s National Insurance costs, will more than double from 6 April 2025.<\/p>\n<p>Eligible employers will be able to reduce their National Insurance contributions by \u00a310,500, compared to the current amount of \u00a35,000. Additionally, the \u00a3100,000 threshold will be removed so more businesses with employer National Insurance bills can benefit.<\/p>\n<p><span style=\"font-weight: 400;\">This change is intended to help small businesses offset the effects of the Employers&#8217; National Insurance rise.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Treasury measures that, with these changes taken together, 865,000 employers won&#8217;t pay any National Insurance, and over 1 million will pay the same as or less than they did previously.\u00a0<\/span><\/p>\n<p><span data-teams=\"true\"><span class=\"ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak\" dir=\"ltr\">This is a cost-saving for a small business of the equivalent of 4 full-time workers on the National Living Wage.<\/span><\/span><\/p>\n<h3>National Living Wage and National Minimum Wage increase<\/h3>\n<p><span style=\"font-weight: 400;\">The National Living Wage (NLW), the minimum wage employers must legally pay staff over 21, will rise by 6.7% in April 2025. This will increase the hourly rate from \u00a311.44 to \u00a312.21, more than three times the rate of inflation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The National Minimum Wage (NMW) for employees between 18 and 20 will also rise by 16% from April 2025, from \u00a38.60 to \u00a310 per hour. For 16 and 17-year-olds, the NMW will remain at \u00a36.40 an hour.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apprentices will see the most significant pay bump, from \u00a36.40 to \u00a37.55 an hour, an 18% increase. Before this year, the apprentice wage was only \u00a35.28.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These raises align with the <\/span><a href=\"https:\/\/www.gov.uk\/government\/news\/government-commits-to-a-genuine-living-wage-for-working-people\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Labour government\u2019s commitment<\/span><\/a><span style=\"font-weight: 400;\"> to providing a \u201cgenuine living wage for working people.\u201d However, industry groups have expressed concern over the financial burden on businesses, especially alongside the increase in the National Insurance contributions they must pay on wages.<\/span><\/p>\n            <div class=\"hubspot_shortcode\">\n                <a href=\"https:\/\/hubspot.sjv.io\/OrKdGZ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_mobile.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_desktop.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p><span style=\"font-weight: 400;\">John Foster, chief policy and campaigns officer at the <\/span><a href=\"https:\/\/www.ft.com\/content\/4085c958-5687-4f48-8cbd-1cc40b991b1a?segmentId=2c1df321-36a4-1206-2c08-112c059dd69d\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Confederation of British Industry (CBI)<\/span><\/a><span style=\"font-weight: 400;\">, said that although the National Living Wage protects the incomes of the poorest in society, \u201cwith productivity stagnant, businesses will have to accommodate this increase against a challenging economic backdrop and growing pressure on their bottom line.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result, business owners may have to raise their prices or cut operational inefficiencies to afford these increased staff costs. This could include outsourcing central functions, switching in-store premises to online sales, or reducing staff hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Remember, it is a criminal offence not to pay workers at least the National Living Wage or Minimum Wage for their age. Any employer found underpaying their staff can be fined by HMRC and told to reimburse workers, as we\u2019ve recently seen happen to <\/span><a href=\"https:\/\/www.bbc.co.uk\/news\/business-65968986\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">WHSmith, Marks and Spencer, Argos and Lloyds Pharmacy<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3>Capital Gains Tax to rise by up to 8 percentage points<\/h3>\n<p><span style=\"font-weight: 400;\">As was widely anticipated, the government has announced that it will increase the rates of Capital Gains Tax (CGT), with the aim being to \u201cdrive growth, promote entrepreneurship, and [support] wealth creation while raising the revenue required to fund our public services.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This measure introduces the following changes to disposals made on or after 30 October 2024:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The lower main rate of CGT increases from 10% to 18%. This will apply to the disposal of chargeable assets other than residential property and carried interest.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The higher main rate of CGT increases from 20% to 24%. This will apply to the disposal of chargeable assets other than residential property and carried interest.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The main rate of CGT that applies to trustees and personal representatives increases from 20% to 24%.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The rate of CGT that applies to Business Asset Disposal Relief and Investors\u2019 Relief will also increase. We discuss this in more detail later in this article.<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">UK government to take action on late payments to small businesses<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/tax-on-business-expenses\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Do I pay tax on my business expenses?<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/leaving-surplus-cash-in-limited-company\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Is leaving surplus cash in a limited company a problem?<\/span><\/a>\n                    <\/p>\n<p><span style=\"font-weight: 400;\">CGT rates on residential property will remain at 18% (basic-rate taxpayers) and 24% (higher-rate taxpayers). For those managing investment funds, the rate on gains from \u2018carried interest\u2019 remains at 28%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite these increases, the UK maintains the lowest CGT rates of any European G7 member. Furthermore, the new rates remain lower than the corresponding Income Tax rates payable by individuals on earnings from other sources.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CGT is charged on profits made from the sale of an asset that has increased in value, including personal possessions, second properties, company shares that aren\u2019t held in an ISA or Personal Equity Plan, and certain business assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This tax is payable by individuals, sole traders, partners in business partnerships, and company shareholders. Limited companies do not pay CGT on profits made from the disposal of business assets. Instead, they pay Corporation Tax (CT).<\/span><\/p>\n<h3>Fuel Duty frozen for another year<\/h3>\n<p><span style=\"font-weight: 400;\">The government has announced that Fuel Duty will be frozen for another year, meaning \u201cno higher taxes at the petrol pump\u201d until at least March 2026. The \u2018temporary\u2019 5p cut introduced in March 2022 by the previous government has also been extended for another year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This will be welcome news for all drivers, particularly business owners using vehicles for work or providing fuel expenses to their employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The current rate of Fuel Duty for petrol and diesel, which includes the 5p cut, is 52.95 pence per litre. Prior to this, the rate remained unchanged at 57.95 pence per litre between 2011 and 2022.\u00a0<\/span><\/p>\n            <div class=\"wise_shortcode\">\n                <a href=\"https:\/\/wise.prf.hn\/l\/62GaO3k\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_325x340.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_980x150.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p><span style=\"font-weight: 400;\">The Chancellor said: \u201dI have concluded that in these difficult circumstances, while the cost of living remains high and with the backdrop of global uncertainty, increasing Fuel Duty next year would be the wrong choice for working people.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following this announcement, <\/span><a href=\"https:\/\/media.rac.co.uk\/news\/autumn-budget-2024-fuel-duty-to-remain-frozen-489921\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">RAC&#8217;s head of policy, Simon Williams,<\/span><\/a><span style=\"font-weight: 400;\"> commented:\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cDrivers will breathe an enormous sigh of relief after all the speculation that the 5p cut would be scrapped at the same time as pushing duty up beyond the long-term rate of 57.95p.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s also worth remembering that even as of today, 56% of the total price of a litre of petrol is already taxed in the form of fuel duty, and the VAT that is charged on top.\u201d<\/span><\/p>\n<h3>Business Asset Disposal Relief and Investors&#8217; Relief to increase<\/h3>\n<p><span style=\"font-weight: 400;\">Investors&#8217; Relief (IR) and Business Asset Disposal Relief (BADR), previously known as Entrepreneurs&#8217; Relief, will gradually increase over the next three years. These reliefs let entrepreneurs reduce the Capital Gains they pay when they sell (or \u2018dispose of\u2019) all or part of their business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rates will remain at 10% this year, before rising to 14% in April 2025, and then 18% from April 2026.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The lifetime limit for BADR is \u00a31 million, meaning a reduced rate of Capital Gains Tax is charged on the first \u00a31 million of qualifying gains over your lifetime. The lifetime limit for IR will be reduced and brought in line with the lifetime limit for BADR, at \u00a31 million for all qualifying disposals made on or after today.<\/span><\/p>\n<h3>Changes to alcohol duty<\/h3>\n<p><span style=\"font-weight: 400;\">The alcohol duty rates on non-draught products will increase in line with the Retail Price Index (RPI) from February 2025.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, considering that nearly two-thirds of alcoholic drinks sold in pubs are served on draught, the Chancellor also announced that she will cut draught duty by 1.7% in February 2025. That\u2019s an average saving of 1p per pint.\u00a0<\/span><\/p>\n<h3>Workers to receive greater protections<\/h3>\n<p><span style=\"font-weight: 400;\">The Budget included the government\u2019s intention to protect working people from unfair dismissal. This isn\u2019t brand new information as such, as the government had introduced the Employment Rights Bill on 10 October 2024.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Reeves solidified the government\u2019s long-term commitment to making flexible working the default, strengthening bereavement leave rights, and issuing paternal leave to employees from day one of starting a new job.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019d like to learn more about what these new rules mean for business, read our blog on \u2018<\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/new-employment-laws-2024\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Changes to UK employment laws 2024<\/span><\/a><span style=\"font-weight: 400;\">\u2019, where we explain everything you need to know.\u00a0<\/span><\/p>\n<h3>Inheritance Tax threshold frozen until 2030<\/h3>\n<p><span style=\"font-weight: 400;\">The previous government froze the \u00a3325,000 threshold on Inheritance Tax (IHT) until 2028, and the Budget announced this government will extend that freeze until April 2030. This means the first \u00a3325,000 of any estate can be inherited tax-free until April 2030.<\/span><\/p>\n            <div style=\"display: none\"><\/div>\n        \n<p><span style=\"font-weight: 400;\">This freeze will help make succession planning easier, so business owners thinking of passing down their companies to descendants or considering gifting company shares don\u2019t have to worry about changing their current plans\u2014at least not for another few years.\u00a0<\/span><\/p>\n<h3>Agricultural Property Relief and Business Property Relief<\/h3>\n<p><span style=\"font-weight: 400;\">The government will reform Agricultural Property Relief and Business Property Relief. From April 2026, the first \u00a31 million of combined business and agricultural assets will be Inheritance Tax-free, but owners must pay 50% on any additional amount.\u00a0<\/span><\/p>\n<h3>Tax rates for retail, hospitality and leisure properties reduced<\/h3>\n<p><span style=\"font-weight: 400;\">Two permanently lower tax rates for retail, hospitality, and leisure properties will be introduced from the 2025\/26 tax year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These industries will receive a 40% relief on business rates up to a cap of \u00a3110,000. Alongside this, the small business tax multiplier will be frozen at 49.9p for the next tax year (2025\/26).<\/span><\/p>\n<h3>Stamp Duty Land Tax will increase to 5%<\/h3>\n<p><span style=\"font-weight: 400;\">In England and Northern Ireland, the Stamp Duty Land Tax charge for second homes (known as the higher rates for additional dwellings) will increase by 2 percentage points to 5% from tomorrow, 31 October 2024. This will make purchasing a residential property outside of your primary domicile more expensive.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Treasury has expressed that this change is intended to give those looking to move home or purchase their first property an advantage over second-home buyers, landlords, and businesses purchasing residential property.<\/span><\/p>\n<h3>Clamp down on shoplifting on high streets<\/h3>\n<p><span style=\"font-weight: 400;\">Reeves acknowledged the state of the UK\u2019s high streets and that they need support to tackle the sharp rise in shoplifting in recent years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Starting in Greater Manchester and the West Midlands, the Chancellor confirmed that local governments will receive new funding in 2025 in a bid to crack down on the organised gangs which target retailers. Additionally, both retailers and police officers will receive additional training to help reduce shoplifting.<\/span><\/p>\n<h3>Plastic packaging tax rates increased<\/h3>\n<p><span style=\"font-weight: 400;\">Currently, businesses need to register for <\/span><a href=\"https:\/\/www.gov.uk\/guidance\/work-out-which-packaging-is-subject-to-plastic-packaging-tax\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Plastic Packaging Tax<\/span><\/a><span style=\"font-weight: 400;\"> (PPT) if they:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have manufactured or imported more than 10 tonnes of plastic packaging into the UK in the last 12 months, or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expect to manufacture or import more than 10 tonnes of plastic packaging into the UK in the next 30 days.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">PPT is payable on packaging components that contain less than 30% recycled plastic. To encourage businesses to use more recycled materials, the government will increase the PPT rate in line with inflation for the 2025\/26 tax year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Relevant business owners should ensure they keep up to date with the rate of inflation and check which packaging is subject to PPT. Where feasible, it\u2019s also advised to update supplier relations and switch to more sustainable forms of packaging.\u00a0<\/span><\/p>\n<h3>Conclusion<\/h3>\n<p><span style=\"font-weight: 400;\">As predicted, the Autumn Budget has indeed introduced several tax rises that will affect UK businesses. Capital Gains Tax, Employers\u2019 National Insurance, and Inheritance Tax are among the main changes that will impact SMEs from as early as today, 30 October.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other important announcements include the rise in National Living and Minimum Wage rates, which will affect employers\u2019 cash flow and recruitment plans.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But there is some good news, with several reliefs increasing and tax thresholds being frozen for the foreseeable future.\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">This blog was originally published on 1st Formations.\u00a0<\/span><\/i><\/p>\n"},"excerpt":{"rendered":"<p>Rachel Reeves, Chancellor of the Exchequer, delivered the greatly anticipated 2024 Autumn Budget on 30 October. Her speech outlined the economy&#8217;s health and the Labour government\u2019s plans to reset the trajectory of public spending and taxation during their time in parliament.\u00a0 Commenting on the inheritance of a \u201c\u00a322 billion black hole\u201d in missing funding from&hellip;<\/p>\n","protected":false},"author":28,"featured_media":12966,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[114],"tags":[],"class_list":["post-12942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-advice","category-114","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2024 Autumn Budget Report for SMEs<\/title>\n<meta name=\"description\" content=\"Here\u2019s what UK SME owners need to know about how the government&#039;s 2024 Autumn Budget tax changes will impact businesses.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 Autumn Budget Report for SMEs\" \/>\n<meta property=\"og:description\" content=\"Here\u2019s what UK SME owners need to know about how the government&#039;s 2024 Autumn Budget tax changes will impact businesses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-30T12:28:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-08T13:50:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"2024 Autumn Budget Report for SMEs","description":"Here\u2019s what UK SME owners need to know about how the government's 2024 Autumn Budget tax changes will impact businesses.","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_GB","og_type":"article","og_title":"2024 Autumn Budget Report for SMEs","og_description":"Here\u2019s what UK SME owners need to know about how the government's 2024 Autumn Budget tax changes will impact businesses.","og_url":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-10-30T12:28:49+00:00","article_modified_time":"2024-11-08T13:50:57+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/","url":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/","name":"2024 Autumn Budget Report for SMEs","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/#primaryimage"},"image":{"@id":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg","datePublished":"2024-10-30T12:28:49+00:00","dateModified":"2024-11-08T13:50:57+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"Here\u2019s what UK SME owners need to know about how the government's 2024 Autumn Budget tax changes will impact businesses.","breadcrumb":{"@id":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg","width":1500,"height":750,"caption":"Rachel Reeves, Chancellor of the Exchequer, holding a red briefcase, ready to deliver the 2024 UK Autumn Budget."},{"@type":"BreadcrumbList","@id":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"2024 Autumn Budget Report for SMEs"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":1134,"x_categories":"Business Advice","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/QCF_UK-Autumn-Budget-Report-1500x750-v2.jpg","x_date":"30 Oct 2024","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"_thumbnail_id":"12966","yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"114","_yoast_wpseo_focuskw":"Autumn Budget SMEs","_yoast_wpseo_title":"2024 Autumn Budget Report for SMEs","_yoast_wpseo_metadesc":"Here\u2019s what UK SME owners need to know about how the government's 2024 Autumn Budget tax changes will impact businesses.","_yoast_wpseo_linkdex":"69","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"10","_yoast_indexnow_last_ping":"1731073858","views":"1134","_yoast_wpseo_content_score":"60","_yoast_wpseo_canonical":"https:\/\/www.1stformations.co.uk\/blog\/2024-autumn-budget-report-for-smes\/","_yoast_wpseo_meta_robots_noindex":"1","_yoast_wpseo_meta_robots_nofollow":"1"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12942"}],"version-history":[{"count":18,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12942\/revisions"}],"predecessor-version":[{"id":13005,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12942\/revisions\/13005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12966"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12858,"date":"2024-10-11T13:51:17","date_gmt":"2024-10-11T12:51:17","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12858"},"modified":"2024-10-14T14:55:59","modified_gmt":"2024-10-14T13:55:59","slug":"starting-family-business-8-tips-for-success","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/","title":{"rendered":"Starting a family business: 8 tips for success"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">You\u2019d generally assume that starting a family business is easier than doing it alone. In many ways, that\u2019s true\u2014a family member can offer vital emotional support, bring an element of trust and loyalty to your joint venture, and share your personal values.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, a considerable potential challenge is conflict, which can often intensify between relatives. If this happens, you risk hurting the business and your relationship with family members.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But don\u2019t let that discourage you. If you make a clear plan, define your goals, and support each other, being part of a family business can be incredibly rewarding. Keep reading to find out our top tips for success.\u00a0<\/span><\/p>\n<h3>1. Incorporate your family business<\/h3>\n<p><span style=\"font-weight: 400;\">One of the first decisions you\u2019ll need to make when starting a family business is which legal structure is right for you. We recommend a <\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">private company limited by shares<\/span><\/a><span style=\"font-weight: 400;\">, the UK&#8217;s most popular type of trading company. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is an incorporated business structure in which every owner (called a shareholder) is responsible for the company\u2019s debts up to the amount they have paid (or agreed to pay) for their shares. This is known as limited liability. In other words, multiple owners share the financial risk and protect their personal assets.\u00a0<\/span><\/p>\n<p>            <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/name-check-fully-inclusive-package\/\" class=\"related related-buy\" data-wpel-link=\"internal\"><span class=\"related-title related-buy-title\">Our Fully Inclusive Package - the perfect way to start a new business<\/span><\/a>\n                                                            <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/transfer-shares-to-spouse\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Can I transfer shares to my spouse?<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/effective-succession-planning\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">7 tips for effective succession planning<\/span><\/a>\n                    <\/p>\n<p><span style=\"font-weight: 400;\">In general terms, limited companies are considered family-run businesses if the business owner or their family members have at least 25% of voting rights in the company. So, you\u2019ll need to allocate shares accordingly when registering the family business under this legal structure.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike unincorporated businesses (i.e. sole traders or traditional partnerships), a limited company is a separate legal entity, meaning it exists independently of its owners. This is particularly beneficial for succession, making it easier to pass down when you\u2019re ready for future generations to inherit the family business (we&#8217;ll look at succession in more detail later in this blog). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Incorporating a family business as a limited company offers additional benefits, such as tax efficiency, credibility, and flexible profit distribution.\u00a0<\/span><\/p>\n<h3>2. Allocate roles and responsibilities<\/h3>\n<p><span style=\"font-weight: 400;\">A major advantage of starting a family business is flexibility. Having a personal relationship with your business partner(s) makes it easier to share roles and responsibilities and generally help each other out.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if unmanaged, this can confuse who does what and who is accountable for oversights. It may be a tricky conversation, but allocating roles and responsibilities when starting a family business is essential.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the case of a limited company, you should discuss who wants to be a shareholder, a director, or both. Each of these positions holds different roles within the company.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, shareholders are the owners of the company, investing in it financially in the company, and voting on certain big decisions. The directors, meanwhile, <\/span><span style=\"font-weight: 400;\">run the company on a day-to-day basis and are responsible for ensuring it complies with the law.<\/span><\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p><span style=\"font-weight: 400;\">What about a company secretary? The law doesn&#8217;t require a private limited company to have one, but it&#8217;s beneficial to have one if someone is qualified for this role.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then you will have to consider other more standard jobs within the company, such as those in customer service, social media management, and supplier relations. You\u2019ll need to share these roles between you before the company expands and takes on more employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re unsure how to split these functions, it helps to assess each person\u2019s soft skills, personal qualities, and professional experience, as one person could be better suited than the other. This way, everyone plays to their strengths, and you\u2019ll maintain fairness and control of the family business.\u00a0<\/span><\/p>\n<h3>3. Determine how you&#8217;ll manage disputes<\/h3>\n<p><span style=\"font-weight: 400;\">Disputes are common, especially if it\u2019s a family business. As much as you trust each other now, relationships can break down for any number of reasons.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Only you and your relatives know how your relationship works. Before starting a family business, evaluate the strengths and weaknesses, where problems could arise, and how you plan to fix them. It is also strongly recommended to plan formally for dispute resolutions, should they ever arise. Below are some of the ways you could do this.<\/span><\/p>\n<h4>Create a shareholders&#8217; agreement<\/h4>\n<p><span style=\"font-weight: 400;\">If there are multiple shareholders in the family business, creating a shareholders\u2019 agreement is useful. This legally binding contract supplements the articles of association and helps protect shareholder relationships, their rights, and the company. It can also specify procedures for resolving feuds and deadlocks if\/when they arise. <\/span><\/p>\n<h4>Review your articles of association regularly<\/h4>\n<p><span style=\"font-weight: 400;\">Most limited companies in the UK adopt model (default) articles of association. They provide a basic scope of directors\u2019 duties, shareholders\u2019 decision-making powers, and how to manage conflicts of interest.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the model articles are pretty limited. Therefore, you should review and <\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-to-amend-a-companys-articles-of-association\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">update your articles<\/span><\/a><span style=\"font-weight: 400;\"> where needed to ensure that the family business remains adequately managed over time and to make provisions should a dispute arise.\u00a0<\/span><\/p>\n<h4>Assign a mediator<\/h4>\n<p><span style=\"font-weight: 400;\">A mediator is a third party that aims to settle family disputes if you\u2019re unable to. As an impartial advisor, a mediator\u2019s role is to find a suitable resolution that benefits all those involved. This method helps minimise stress and disruption to the family business during conflict. <\/span><\/p>\n<h3>4. Define and commit to a shared purpose<\/h3>\n<p><span style=\"font-weight: 400;\">Did you know that family businesses with clear goals and values tend to perform better than those without?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/www.pwc.com\/gx\/en\/news-room\/press-releases\/2023\/family-businesses-see-largest-growth-increase-in-15-years.html\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">PwC\u2019s Global Family Business survey<\/span><\/a><span style=\"font-weight: 400;\">, which polled over 2,000 worldwide family businesses, 73% of companies that experienced double-digit growth between 2022 and 2023 were those with a clear set of family values and an agreed business purpose. Those that were particularly successful had a strong environmental, social, and governance (ESG) strategy.<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-to-write-a-business-plan\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How to write a business plan<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/preparing-your-business-for-tax-year\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Preparing your business for the new tax year &#8211; 2024\/25<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/business-asset-disposal-relief-scheme\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">What is the Business Asset Disposal Relief scheme, and is my business eligible?<\/span><\/a>\n                    <\/p>\n<p><span style=\"font-weight: 400;\">When starting a family business, you should define a commercial purpose that\u2019s meaningful to everyone, including your descendants, who will take over one day. For example, you could focus on attracting and retaining top talent, creating a diverse board of directors, or strengthening customer trust.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Or perhaps you\u2019re passionate about sustainability or new technologies. Focus on your motivation to start a family business and work together toward a common goal to achieve success.\u00a0<\/span><\/p>\n<h3>5. Create a clear succession plan<\/h3>\n<p><span style=\"font-weight: 400;\">You\u2019re probably thinking of starting a family business for several reasons. One of those is likely to pass it down the family tree. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">To do this successfully, though, and to ensure the family business survives, you need to create a clear succession plan from the get-go and equip the next generation with the right skills, knowledge, and interest for when you\u2019re ready to step down.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below are a few strategies that could make the transition smoother.\u00a0<\/span><\/p>\n<h4>Communicate clearly<\/h4>\n<p><span style=\"font-weight: 400;\">Communication is key to succession planning. Don\u2019t let your future successors speculate about your plans for the family business when you retire or are no longer around. Instead, be clear and transparent about your succession plans\u2014when do you plan to stop working, and who do you want to pass the company on to?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your circumstances and plans might change over time, so remember to be open about them and what they could mean for the next generation.\u00a0<\/span><\/p>\n<h4>Encourage interest<\/h4>\n<p><span style=\"font-weight: 400;\">For succession to work in a family business, those who will inherit it need to <\/span><i><span style=\"font-weight: 400;\">want<\/span><\/i><span style=\"font-weight: 400;\"> to take over. That fundamental desire is necessary for the company to be managed properly and succeed long-term.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, to inspire and excite your descendants about running the family business one day, you should encourage a genuine interest from an early age. This could be as simple as using positive language around them when you talk about the family business.\u00a0<\/span><\/p>\n            <div class=\"hubspot_shortcode\">\n                <a href=\"https:\/\/hubspot.sjv.io\/OrKdGZ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_mobile.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_desktop.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p><span style=\"font-weight: 400;\">They should feel pride, satisfaction, and optimism a<\/span><span style=\"font-weight: 400;\">bout potentially becoming business owners. In contrast, they probably won&#8217;t want to get involved if you constantly say that running a family business is stressful and complex. But remember to paint an accurate picture and avoid misleading them. <\/span><\/p>\n<h4>Educate the next generation<\/h4>\n<p><span style=\"font-weight: 400;\">Your future successors need to understand what it means to own and run a company. Educating and supporting them on that journey will set them up for success and give you the peace of mind that you\u2019re leaving the family business in good hands. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">There is no right or wrong way to do this, and it depends on their age. For instance, if they\u2019re teenagers, you could start with basic financial education\u2014things like budgeting and how credit cards work. If they\u2019re older, you could teach them about directors\u2019 duties, preparing accounts, and understanding share structures. You should also advise them on:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Responsibility<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leadership skills<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Entrepreneurial spirit<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Emotional intelligence<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Crisis management<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If it\u2019s your child or grandchild, teaching them the ropes through internships, work experience, and shadowing is also a good idea. This will give them first-hand experience of the role and start building their confidence to step into your shoes. <\/span><\/p>\n<h3>6. Understand inheritance tax rules<\/h3>\n<p><span style=\"font-weight: 400;\">To transition the family business efficiently, you and your beneficiaries need to understand the implications of inheritance tax (IHT). IHT is currently 40%, but it doesn\u2019t apply to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An estate (including company shares) value of less than \u00a3325,000, or<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Assets above \u00a3325,000 that are left to a spouse, civil partner, charity, or community amateur sports club<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If your children (including adopted, foster, or stepchildren) are the beneficiaries, the threshold could increase to \u00a3500,000.\u00a0\u00a0<\/span><\/p>\n            <div style=\"display: none\"><\/div>\n        \n<p><span style=\"font-weight: 400;\">In the case of a private limited company, shares over the tax-free threshold will be subject to IHT. However, there are reliefs and exemptions, such as \u2018taper relief\u2019 (if shares are gifted under certain circumstances). There\u2019s also <\/span><a href=\"https:\/\/www.gov.uk\/business-relief-inheritance-tax\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">Business Relief<\/span><\/a><span style=\"font-weight: 400;\">, which provides up to 100% tax relief on private limited company shares under certain qualifying conditions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">IHT is a complicated area, but it\u2019s crucial to understand what it could mean for your family business. You can find more information on thresholds, rules, and allowances on the <\/span><a href=\"https:\/\/www.gov.uk\/inheritance-tax\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">HMRC<\/span><\/a><span style=\"font-weight: 400;\"> website or speak to a trained tax advisor.\u00a0<\/span><\/p>\n<h3>7. Hire non-family members<\/h3>\n<p><span style=\"font-weight: 400;\">Heritage and legacy are undoubtedly the essence of a family business, but remember to hire non-family members, too. It\u2019s natural to want to keep things \u2018in the family\u2019, but what if there are no suitable candidates for the roles you need to fill? Or what if a relative doesn\u2019t wish to work for the family business? <\/span><\/p>\n<p><span style=\"font-weight: 400;\">External hires will significantly improve the company\u2019s growth prospects and help avoid nepotism. They can also:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bridge gaps between generations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Connect you with valuable contacts and networks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bring new ideas to the table<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fill a skills gap<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Offer a fresh, impartial perspective\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">You should stay open-minded about hiring external people. When you do, it\u2019s equally important to ensure that they mirror your values and ethics to maintain the family spirit.<\/span><\/p>\n<h3>8. Make a backup plan<\/h3>\n<p><span style=\"font-weight: 400;\">Finally, you need a backup plan. When starting a family business, the last thing you want to think about is something going wrong, but it\u2019s essential to identify potential challenges and how you\u2019ll navigate them to ensure the business thrives. Think about:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What if your intended successors don\u2019t want to take over the family business? Who will take their place? Will that affect the IHT implications?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you plan to have multiple successors, what if there is rivalry between them (i.e. siblings)?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How might running the business impact your family dynamic? How will you separate your personal relationships from professional ones?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How will you achieve a healthy work\/life balance?\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How will you maintain a firm structure in the family business?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How will you separate family tradition from innovation to help the business grow?\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Most of all, what if the company fails? If multiple owners exist, will one buy each other out, or will you sell the business? Or will you seek another solution? These are the vital questions you should answer before starting a family business to prepare you for the journey ahead.<\/span><\/p>\n<h3>Summary<\/h3>\n<p><span style=\"font-weight: 400;\">All businesses involve risk, but a family business has much more at stake. Conflict can intensify between family members, and it can be tricky to separate personal relationships from professional duties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, with proper planning and contingencies, starting a family business can be exciting, fulfilling, and rewarding.\u00a0<\/span><\/p>\n            <div class=\"wise_shortcode\">\n                <a href=\"https:\/\/wise.prf.hn\/l\/62GaO3k\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_325x340.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_980x150.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n"},"excerpt":{"rendered":"<p>You\u2019d generally assume that starting a family business is easier than doing it alone. In many ways, that\u2019s true\u2014a family member can offer vital emotional support, bring an element of trust and loyalty to your joint venture, and share your personal values.\u00a0 However, a considerable potential challenge is conflict, which can often intensify between relatives.&hellip;<\/p>\n","protected":false},"author":27,"featured_media":12909,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1229],"tags":[],"class_list":["post-12858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-startups","category-1229","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Starting a Family Business: 8 Tips for Success<\/title>\n<meta name=\"description\" content=\"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let&#039;s get started.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starting a family business: 8 tips for success\" \/>\n<meta property=\"og:description\" content=\"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let&#039;s get started.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-11T12:51:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-14T13:55:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"James Dobran\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James Dobran\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Starting a Family Business: 8 Tips for Success","description":"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let's get started.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/","og_locale":"en_GB","og_type":"article","og_title":"Starting a family business: 8 tips for success","og_description":"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let's get started.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-10-11T12:51:17+00:00","article_modified_time":"2024-10-14T13:55:59+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg","type":"image\/jpeg"}],"author":"James Dobran","twitter_misc":{"Written by":"James Dobran","Estimated reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/","name":"Starting a Family Business: 8 Tips for Success","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg","datePublished":"2024-10-11T12:51:17+00:00","dateModified":"2024-10-14T13:55:59+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d"},"description":"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let's get started.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg","width":1500,"height":750,"caption":"An aunt and niece open their new family business and welcome customers happily, holding a wooden sign that displays the words WELCOME - OPEN."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Starting a family business: 8 tips for success"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d","name":"James Dobran","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","caption":"James Dobran"},"description":"James is Deputy Director of Operations at QCF, responsible for managing and optimising the business\u2019 daily operational functions. He greatly values customer-centricity and service standard improvements, bolstered by qualifications in Management and Leadership from the Chartered Management Institute and certifications in Sales Management and Customer Service Excellence.","jobTitle":"Deputy Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/james-dobran\/"}]}},"views":465,"x_categories":"Business Startups","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2356986383.jpg","x_date":"11 Oct 2024","x_author":"James Dobran","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","x_metadata":{"yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1229","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"9","_thumbnail_id":"12909","_yoast_wpseo_focuskw":"family business","_yoast_wpseo_title":"Starting a Family Business: 8 Tips for Success","_yoast_wpseo_metadesc":"Thinking of starting a family business? Follow these top tips to prepare, and launch a successful, thriving company. Let's get started.","_yoast_wpseo_linkdex":"80","_yoast_indexnow_last_ping":"1728914159","views":"465"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12858"}],"version-history":[{"count":9,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12858\/revisions"}],"predecessor-version":[{"id":12936,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12858\/revisions\/12936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12909"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12892,"date":"2024-10-09T16:20:15","date_gmt":"2024-10-09T15:20:15","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12892"},"modified":"2024-10-14T14:57:38","modified_gmt":"2024-10-14T13:57:38","slug":"navigating-the-first-three-years-in-business","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/","title":{"rendered":"Navigating the first three years in business"},"content":{"rendered":"<p><span data-contrast=\"auto\">The early stages of running a business are some of the most memorable, rewarding, and challenging times for entrepreneurs. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">It\u2019s when you test your initial ideas, overcome financial pressures, and face the frightening reality of selling your product or service to people who don&#8217;t know who you are. <\/span><span data-contrast=\"auto\">While navigating these early years is no small feat, it\u2019s also an opportunity to build strong foundations to support the business for years to come.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Getting the first three years right is crucial if you plan to run your business long-term. That\u2019s because it\u2019s surprisingly common for new businesses in the UK to fail in these initial years.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">According to <\/span><a href=\"https:\/\/www.experianplc.com\/newsroom\/press-releases\/2023\/half-of-all-new-businesses-fail-within-three-years-of-opening\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span data-contrast=\"none\">Experian\u2019s analysis of business closure rates<\/span><\/a><span data-contrast=\"auto\"> from 2013-2022, around 4% of new businesses cease trading by the end of their first year of operations. That failure rate rises to more than 34% by the end of the second and to 50% within three years of opening. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In other words, of 100 businesses that open in a year, 96 will continue to run after the first year, only 66 will survive after the second, and then just 50 of the original 100 will remain operational by the end of the third.<\/span><\/p>\n<div id=\"attachment_12937\" style=\"width: 1510px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-12937\" class=\"size-full wp-image-12937\" src=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Failure-rate-of-new-UK-businesses-over-three-years-of-trading.png\" alt=\"Failure rate of new UK businesses over three years of trading\" width=\"1500\" height=\"750\" srcset=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Failure-rate-of-new-UK-businesses-over-three-years-of-trading.png 1500w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Failure-rate-of-new-UK-businesses-over-three-years-of-trading-600x300.png 600w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Failure-rate-of-new-UK-businesses-over-three-years-of-trading-768x384.png 768w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><p id=\"caption-attachment-12937\" class=\"wp-caption-text\">If you want to be part of the lucky half that succeeds, here\u2019s what you need to focus on for your business to have as smooth a start as possible.<\/p><\/div>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Year one: build a solid foundation<\/span><\/h3>\n<p><span data-contrast=\"auto\">The failure rate after a business\u2019s first year is relatively low at 4%, so your chances are good when starting out.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, don\u2019t let that statistic stop you from making sound, logical decisions. The reason startups fail in these early stages is typically due to ineffective leaders. That includes a lack of relevant knowledge and an unwillingness to adjust personal behaviour or business processes. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/starting-family-business-8-tips-for-success\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Starting a family business: 8 tips for success<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/overcome-the-fear-of-starting-your-business\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How to overcome the fear of starting your own business<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/company-dissolution-and-liquidation\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Company dissolution and liquidation &#8211; what&#8217;s the difference?<\/span><\/a>\n                    <\/p>\n<p><span data-contrast=\"auto\">So, a good attitude and desire to learn are essential to your business\u2019s overall health and longevity. Your first year will be filled with trial and error as you try everything for the first time. Don\u2019t be afraid to pivot your strategies based on how things work out.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4>What to focus on in your business\u2019s first year:<\/h4>\n<p><b><span data-contrast=\"auto\">Create a business plan<\/span><\/b><span data-contrast=\"auto\">: It\u2019s essential to <\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-to-write-a-business-plan\/\" data-wpel-link=\"internal\"><span data-contrast=\"none\">write a business plan<\/span><\/a><span data-contrast=\"auto\"> that thoroughly maps your company\u2019s objectives to help you stay on track. It should include information about your target market and how much you project to spend and earn. A solid business plan will also help you attract investors.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Register your company:<\/span><\/b> F<span data-contrast=\"auto\">or tax efficiency, limited liability, improved brand credibility, and ease of raising capital, consider <\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/llp\/\" data-wpel-link=\"internal\"><span data-contrast=\"none\">registering your business as a limited company<\/span><\/a><span data-contrast=\"auto\">. <\/span><span data-contrast=\"auto\">Turn to a trusted company formation agent for help with the incorporation process.<\/span><\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p><b><span data-contrast=\"auto\">Manage finances:<\/span><\/b><span data-contrast=\"auto\"> Recording your cash flow is essential. Many startups fail due to poor financial management, so create budgets and track all your business expenses and overheads. Accountancy software like QuickBooks can save you time and reduce human errors. Or, if you want more technical support, you could seek the help of an accountant.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Customer acquisition<\/span><\/b><span data-contrast=\"auto\">: One of the most critical areas to focus on. Identify your target audience and determine how to convince them to buy your product or service. In this early stage, you could consider quick wins, like posting ads on social media.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><strong>Set up a website: <\/strong>Buy a domain and build a professional website. Tools like Wix and Squarespace can make this quick and affordable. Also, reserve your business\u2019s username on various social media channels. Even if you don\u2019t have time to create regular content now, it\u2019s good to have it for when you need it later down the line.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Build your online presence: <\/span><\/b>It is essential to get your website ranked organically for the vital keyword phrases in your sector on search engines like Google and Bing. If you have a brick-and-mortar storefront, make sure your business is visible on Google Maps so local customers can easily find you and your opening hours. Encouraging customers to leave reviews is also essential, as it will help new customers discover you and trust your new business.<\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Year two: adapt as you go<\/span><\/h3>\n<h3 aria-level=\"3\"><span style=\"font-size: 14px; font-weight: normal;\" data-contrast=\"auto\">Many businesses start to fail in the second year. Dwindling funding, cashflow issues, and depleting consumer interest are all risks to watch at this stage. <\/span><span style=\"font-size: 14px; font-weight: normal;\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">However, the good news is, by now, you should have a clearer idea of what\u2019s working and what\u2019s not. This is the time to refine your offerings, strengthen your brand, and expand your customer base.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\">What to focus on in your business\u2019s second year:<\/h4>\n<p><b><span data-contrast=\"auto\">Improve your product or service:<\/span><\/b><span data-contrast=\"auto\"> Use customer feedback and reviews from your first year to refine your business offerings. This could mean improving the quality of your products, adding new features to your services, or adjusting your pricing strategy. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Expand your marketing efforts:<\/span><\/b><span data-contrast=\"auto\"> Try new marketing channels and strategies to reach a wider audience. This could include improving your website\u2019s search engine optimisation (SEO), creating social media adverts, collaborating with influencers, or establishing partnerships with complementary businesses.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n            <div class=\"hubspot_shortcode\">\n                <a href=\"https:\/\/hubspot.sjv.io\/OrKdGZ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_mobile.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_desktop.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p><b><span data-contrast=\"auto\">Incentivise customer loyalty:<\/span><\/b><span data-contrast=\"auto\"> Retaining existing customers is far cheaper than finding new ones, so keeping loyal customers happy is invaluable for long-term success. Consider implementing a loyalty scheme, personalised discounts, or a referral programme to encourage repeat business.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Scale operations:<\/span><\/b><span data-contrast=\"auto\"> As you grow, you may want to hire staff, but you\u2019ll have to calculate whether it\u2019s affordable. Outsourcing tasks like customer service may be more cost-effective to free up your time.\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Year three: plan for the future<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:80,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">If you\u2019ve prepared well, your business should have gained stability by your third year of trading. Hopefully, your customer base is steadily growing, and you\u2019ve gained some consistent revenue streams. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Therefore, your third year is the time to focus on sustainability and scalability. Start planning your longer-term goals based on what you\u2019ve achieved so far.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\">What to focus on in your business\u2019s third year:<\/h4>\n<p><b><span data-contrast=\"auto\">Assess your business\u2019s health:<\/span><\/b><span data-contrast=\"auto\"> Analyse your financials, check customer satisfaction levels, and ensure your business processes are efficient. This will help you identify weaknesses and make informed decisions about where to focus your efforts for sustainable growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Further expand your product or service line: I<\/span><\/b><span data-contrast=\"auto\">f your core offering is performing well, consider expanding into new products or services that complement your existing line. Ensure that any new ideas are backed by solid research and an apparent demand.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Invest in your brand:<\/span><\/b><span data-contrast=\"auto\"> Strong branding is crucial for long-term success. Ensure your brand\u2019s design and tone of voice are consistent across all channels. It may be worth investing in professional design and marketing expertise to enhance your company\u2019s image.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Explore new markets:<\/span><\/b><span data-contrast=\"auto\"> If your local market is saturated, it might be time to explore opportunities in new regions or consider international expansion. This could involve researching different markets, sourcing manufacturers or distributors abroad, or setting up a separate website for customers overseas.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Plan for future growth:<\/span><\/b><span data-contrast=\"auto\"> With three years under your belt, it\u2019s time to start thinking about the next steps. Do you want to expand to new locations, or even prepare for an eventual exit strategy? Create a new medium-term business plan based on what you\u2019ve achieved so far.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"none\">Prepare well and enjoy the journey<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:80,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">Successfully navigating the first three years of a new business is a significant achievement. By setting solid foundations, adapting as you go, and planning for the future, you\u2019ll be in a solid position to push past this critical period that trips up so many others.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With persistence, you\u2019ll set yourself up for long-term success and watch your business thrive beyond its first few years.<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">            <div class=\"wise_shortcode\">\n                <a href=\"https:\/\/wise.prf.hn\/l\/62GaO3k\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_325x340.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/wise_980x150.png\"\n                        alt=\"Wise International Business Banking\"\n                        class=\"wise_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \u00a0<\/span><\/p>\n"},"excerpt":{"rendered":"<p>The early stages of running a business are some of the most memorable, rewarding, and challenging times for entrepreneurs. \u00a0 It\u2019s when you test your initial ideas, overcome financial pressures, and face the frightening reality of selling your product or service to people who don&#8217;t know who you are. While navigating these early years is&hellip;<\/p>\n","protected":false},"author":27,"featured_media":12918,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[114],"tags":[],"class_list":["post-12892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-advice","category-114","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Navigating the First Three Years in Business<\/title>\n<meta name=\"description\" content=\"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navigating the first three years in business\" \/>\n<meta property=\"og:description\" content=\"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-09T15:20:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-14T13:57:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"James Dobran\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James Dobran\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Navigating the First Three Years in Business","description":"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/","og_locale":"en_GB","og_type":"article","og_title":"Navigating the first three years in business","og_description":"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-10-09T15:20:15+00:00","article_modified_time":"2024-10-14T13:57:38+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg","type":"image\/jpeg"}],"author":"James Dobran","twitter_misc":{"Written by":"James Dobran","Estimated reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/","name":"Navigating the First Three Years in Business","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg","datePublished":"2024-10-09T15:20:15+00:00","dateModified":"2024-10-14T13:57:38+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d"},"description":"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg","width":1500,"height":750,"caption":"Business colleagues, 2 woman and one man, standing in thier office, discussing their first 3 years in business."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/navigating-the-first-three-years-in-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Navigating the first three years in business"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/942070b85e7e7f92058e94e50b7f725d","name":"James Dobran","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","caption":"James Dobran"},"description":"James is Deputy Director of Operations at QCF, responsible for managing and optimising the business\u2019 daily operational functions. He greatly values customer-centricity and service standard improvements, bolstered by qualifications in Management and Leadership from the Chartered Management Institute and certifications in Sales Management and Customer Service Excellence.","jobTitle":"Deputy Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/james-dobran\/"}]}},"views":486,"x_categories":"Business Advice","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2429541923.jpg","x_date":"9 Oct 2024","x_author":"James Dobran","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/8c79471f97f5b42661d7396878a8a49c?s=96&d=mm&r=g","x_metadata":{"_thumbnail_id":"12918","yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"","_yoast_wpseo_focuskw":"the first three years in business","_yoast_wpseo_title":"Navigating the First Three Years in Business","_yoast_wpseo_metadesc":"If you want to be part of the lucky 50% of startups that survive the first three years in business, here\u2019s what you need to focus on.","_yoast_wpseo_linkdex":"80","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"6","_yoast_indexnow_last_ping":"1728914259","views":"486"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12892"}],"version-history":[{"count":23,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12892\/revisions"}],"predecessor-version":[{"id":12938,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12892\/revisions\/12938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12918"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12873,"date":"2024-10-04T18:22:19","date_gmt":"2024-10-04T17:22:19","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12873"},"modified":"2024-10-11T16:14:38","modified_gmt":"2024-10-11T15:14:38","slug":"sabbaticals-the-answer-to-higher-employee-retention","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/","title":{"rendered":"Are sabbaticals the answer to higher employee retention?"},"content":{"rendered":"<p><span data-contrast=\"auto\">The increasing prevalence of sabbaticals is part of the rising trend of UK workers prioritising their work-life balance. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">A sabbatical is an arranged period of leave that employees can take while their employer holds their position. It is typically unpaid and can last anywhere from a few weeks to a year or more.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">According to a recent study by the Chartered Management Institute, over half (53%) of companies now offer sabbaticals as a benefit \u2013 a significant jump from only 38% in 2022.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/19672742\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/19672742\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div>\n<p><span data-contrast=\"auto\">Two-fifths of these respondents said they offered sabbatical leave to improve employees\u2019 well-being. At the same time, 36% wanted to cultivate a more flexible work culture, and 31% wanted to increase talent retention.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p aria-level=\"4\"><span data-contrast=\"auto\">But how effective are they in practice? This post will unpack the research and discuss whether sabbaticals improve employees&#8217; engagement and willingness to stay at their company.<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:80,&quot;335559739&quot;:40,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"auto\">Sabbaticals benefit both employees and employers<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:80,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">To understand how sabbaticals affect employees, employers and retention, the <\/span><a href=\"https:\/\/hbr.org\/2023\/02\/research-the-transformative-power-of-sabbaticals\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span data-contrast=\"none\">Harvard Business Review<\/span><\/a><span data-contrast=\"auto\"> (HBR) conducted in-depth research by interviewing 50 professionals from various sectors, such as consulting, design, finance, medicine, education, and technology. This research concluded that every participant in the\u00a0sample experienced significant, positive changes in their personal lives.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">These benefits also caused positive changes when they returned to the workforce.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\"><span data-contrast=\"auto\">1. Opportunities for personal and professional growth<\/span><\/h4>\n<p><span data-contrast=\"auto\">Sabbaticals give employees time to train and upskill. People traditionally associate sabbaticals with academics taking research leave or doctors volunteering for Doctors Without Borders. The same principle can apply to the corporate world.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">By gaining qualifications or new experiences, employees get new skills and perspectives, which, in turn, benefit the company. An employee who returns from a sabbatical often brings fresh ideas and a broader outlook, enriching the workplace culture.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p><span data-contrast=\"auto\">HBR\u2019s research found that sabbaticals offer a surprising opportunity to invest in leadership. Participants who took sabbaticals reported greater self-confidence in their managerial skills and were eager to step up when they returned to their workplace.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\"><span data-contrast=\"auto\">2. Combatting burnout<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:80,&quot;335559739&quot;:40,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">Sabbaticals allow employees longer to recover from the grind of working than is possible with annual leave limitations.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">HBR\u2019s researchers determined that sabbaticals can be an effective preventative measure for burnout. Extended time off can help employees recharge and return to work with a renewed perspective and motivation, reducing the likelihood of burnout-related resignations.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\"><span data-contrast=\"auto\">3. Improved job satisfaction<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:80,&quot;335559739&quot;:40,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">Planned periods away from work allow people to feel more in control of their lives and aspirations. Any workplace offering sabbaticals will gain a positive reputation and signal to future and current employees that it values well-being. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This gesture can lead to a more satisfied workforce and reduce the chance of people leaving for better opportunities elsewhere.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/journals.sagepub.com\/doi\/abs\/10.1177\/0149206315624962\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span data-contrast=\"none\">Research by Shasa Dobrow<\/span><\/a><span data-contrast=\"auto\">, an associate professor of management at the London School of Economics, found that sabbaticals impact employees&#8217; feelings about their roles. She found that as people progress in their jobs, their satisfaction tends to decrease. It rose when they switched jobs and started in a new organisation before declining again. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, when an employee takes a sabbatical, it mimics this effect by providing a chance for novelty and change without losing the employee to another company.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4><span data-contrast=\"auto\">4. Cost-effective benefit<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">When budgets are tight, sabbaticals can be an inexpensive way to reward employees for their hard work.\u00a0<\/span><span data-contrast=\"none\"><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">According to research led by HR software provider ADP, sabbaticals are so attractive that 20% of employees would accept one instead of a pay rise<\/span>.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Moreover, workplaces are not obligated to pay employees during their time off, and employees do not accrue <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/holiday-pay-to-company-employees\/\" data-wpel-link=\"internal\">holiday pay<\/a> during their time away.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"auto\">Sabbaticals are also a risk for employers<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:80,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">Before implementing a sabbatical programme, HR leaders should consider these potential challenges.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4><span data-contrast=\"auto\">1. Resource issues<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">Any business, particularly smaller ones, may struggle to accommodate long absences without impacting operations. Employers may have to hire temporary replacements for team members while on leave, which costs significant time and money to find and train.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Alternatively, holding an employee&#8217;s position open for them could lead to an increased workload for the remaining staff, potentially causing stress or resentment.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4><span data-contrast=\"auto\">2. Employees may not return<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">There\u2019s always a risk that employees will use their break to transition out of the company. When employees take time away from work to travel or spend more time with loved ones, they may become disenchanted with their previous lives. They\u2019ll also have plenty of time to look for a more fulfilling or flexible job. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n            <div class=\"hubspot_shortcode\">\n                <a href=\"https:\/\/hubspot.sjv.io\/OrKdGZ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_mobile.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/hubspot_desktop.png\"\n                        alt=\"Get Started With HubSpot's Free Tools.\"\n                        class=\"hubspot_shortcode-desktop\">\n                <\/a>\n            <\/div>\n        \n<p><span data-contrast=\"auto\">HBR\u2019s research found that sabbatical-takers were least likely to return when the break was a last resort, i.e. when the employee needed to escape from unsustainable work. Employees happy in their roles but desired a temporary adventure were more likely to return.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h4 aria-level=\"4\"><span data-contrast=\"auto\">3. Inequalities in the workplace<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:80,&quot;335559739&quot;:40,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h4>\n<p><span data-contrast=\"auto\">HBR\u2019s sample of employees who took sabbaticals often enjoyed their time so much that they also encouraged their friends and colleagues to take one. However, lower-ranked employees with lower salaries may not have the financial security to afford an unpaid sabbatical. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">They confessed they felt part of a privileged circle, as their career and financial success made their sabbatical possible. This may lead to resentment among subordinates who don\u2019t have the same opportunities.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<h3 aria-level=\"3\"><span data-contrast=\"auto\">Are sabbaticals worth the investment?<\/span><span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;201341983&quot;:0,&quot;335559738&quot;:160,&quot;335559739&quot;:80,&quot;335559740&quot;:278}\">\u00a0<\/span><\/h3>\n<p><span data-contrast=\"auto\">When done right, sabbaticals can be a powerful tool for upskilling talent, boosting morale, and fostering a flexible company culture.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Offering sabbaticals might be a compelling, cost-effective addition to an employee benefits package for companies grappling with high turnover rates. Businesses can cultivate a more engaged, loyal workforce by prioritising employees&#8217; long-term well-being and development.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p>[cta_group]                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/new-employment-laws\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">New employment laws for 2024 you need to know<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/retain-top-people\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">8 tips to retain the top people in your business<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-to-set-up-payroll\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How to set up a payroll for your small business<\/span><\/a>\n                    [\/cta_group]<\/p>\n<p><span data-contrast=\"auto\">However, businesses should consider the potential drawbacks. Sabbaticals can overload other employees and engender resentment among those who don\u2019t have the opportunity to take one. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Employers should consider implementing some eligibility criteria which employees need to meet before applying for a sabbatical, such as:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"auto\">A minimum number of years of employment<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">A time limit for the length of the sabbatical<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">A limit to the number of employees who can take a sabbatical at any given time<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Being in a job role which can be easily covered during time away (meaning\u00a0specialist roles are not eligible to take one)<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">HR managers should also be aware there is no general legal right to a sabbatical, so they can deny a request when necessary. However, this comes with the obvious risk that it may cause an employee to resign. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For practical advice on implementing a robust sabbatical policy, check the Chartered Institute of Personnel and Development\u2019s <\/span><a href=\"https:\/\/www.cipd.org\/uk\/knowledge\/guides\/sabbaticals-guide\/#common-issues\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\"><span data-contrast=\"none\">sabbaticals guide for people professionals<\/span><\/a><span data-contrast=\"auto\">.<\/span><\/p>\n            <div style=\"display: none\"><\/div>\n        \n"},"excerpt":{"rendered":"<p>The increasing prevalence of sabbaticals is part of the rising trend of UK workers prioritising their work-life balance. \u00a0 A sabbatical is an arranged period of leave that employees can take while their employer holds their position. It is typically unpaid and can last anywhere from a few weeks to a year or more.\u00a0\u00a0 According&hellip;<\/p>\n","protected":false},"author":28,"featured_media":12874,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[114],"tags":[],"class_list":["post-12873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-advice","category-114","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Sabbaticals the Answer to Higher Employee Retention?<\/title>\n<meta name=\"description\" content=\"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are sabbaticals the answer to higher employee retention?\" \/>\n<meta property=\"og:description\" content=\"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-04T17:22:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-11T15:14:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Are Sabbaticals the Answer to Higher Employee Retention?","description":"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/","og_locale":"en_GB","og_type":"article","og_title":"Are sabbaticals the answer to higher employee retention?","og_description":"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-10-04T17:22:19+00:00","article_modified_time":"2024-10-11T15:14:38+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/","name":"Are Sabbaticals the Answer to Higher Employee Retention?","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg","datePublished":"2024-10-04T17:22:19+00:00","dateModified":"2024-10-11T15:14:38+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg","width":1500,"height":750,"caption":"A sabbatical is an arranged period of leave that employees can take while their employer holds their position. It is typically unpaid and can last anywhere from a few weeks to a year or more."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/sabbaticals-the-answer-to-higher-employee-retention\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Are sabbaticals the answer to higher employee retention?"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":648,"x_categories":"Business Advice","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/10\/Shutterstock_2126507432.jpg","x_date":"4 Oct 2024","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"_thumbnail_id":"12874","yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"114","_yoast_wpseo_focuskw":"sabbaticals employee retention","_yoast_wpseo_title":"Are Sabbaticals the Answer to Higher Employee Retention?","_yoast_wpseo_metadesc":"Are sabbaticals effective in practice? We unpack the research and discuss whether they improve employee engagement and retention.","_yoast_wpseo_linkdex":"69","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"5","_yoast_indexnow_last_ping":"1728659679","views":"648"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12873"}],"version-history":[{"count":7,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12873\/revisions"}],"predecessor-version":[{"id":12881,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12873\/revisions\/12881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12874"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12839,"date":"2024-10-03T11:41:30","date_gmt":"2024-10-03T10:41:30","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12839"},"modified":"2024-10-11T15:44:56","modified_gmt":"2024-10-11T14:44:56","slug":"certificate-of-incorporation-explained","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/","title":{"rendered":"Certificate of incorporation explained"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">When you apply to register a company, you\u2019ll receive a certificate of incorporation from Companies House once they have approved the application. This document confirms that the company legally exists as a separate legal entity and is distinct from its owners.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below, we explain what a certificate of incorporation looks like, when you might need to use it, and what you can do if you need a replacement.<\/span><\/p>\n<h3>What information does the certificate of incorporation include?<\/h3>\n<p><span style=\"font-weight: 400;\">A certificate of incorporation is a fairly basic document. <\/span><a href=\"https:\/\/www.legislation.gov.uk\/ukpga\/2006\/46\/section\/15\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Section 15 of the Companies Act 2006<\/span><\/a><span style=\"font-weight: 400;\">, the primary legislation that governs UK companies, states that the certificate must include the following details:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0(a) the name and registered number of the company,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0(b) the date of its incorporation,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0(c) whether it is a limited or unlimited company, and if it is limited whether it is limited by shares or limited by guarantee,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0(d) whether it is a private or a public company,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0 \u00a0(e) whether the company\u2019s registered office is situated in England and Wales (or in Wales), in Scotland or in Northern Ireland.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The certificate must be signed by the registrar or authenticated by the registrar\u2019s official seal.\u00a0<\/span><span style=\"font-weight: 400;\">Here is an example of what a certificate of incorporation looks like:<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-12855 size-full\" src=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Certificate-QCF-3-1.jpg\" alt=\"Certificate of incorporation example\" width=\"1500\" height=\"1655\" srcset=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Certificate-QCF-3-1.jpg 1500w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Certificate-QCF-3-1-272x300.jpg 272w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Certificate-QCF-3-1-768x847.jpg 768w, https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Certificate-QCF-3-1-1392x1536.jpg 1392w\" sizes=\"auto, (max-width: 1500px) 100vw, 1500px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Once issued, the Companies Act 2006 affirms that \u201cthe certificate is conclusive evidence that the requirements of this Act as to registration have been complied with and that the company is duly registered under this Act.\u201d In other words, the company has been registered in accordance with the Companies Act 2006.\u00a0<\/span><\/p>\n<h3>Your first certificate of incorporation<\/h3>\n<p><span style=\"font-weight: 400;\">How and when you receive your first certificate depends on how you apply to form your company.\u00a0<\/span><\/p>\n<h4>Online<\/h4>\n<p><span style=\"font-weight: 400;\">If you apply online\u2014be it via a company formation agent like Quality Company Formations or directly with Companies House\u2014you\u2019ll normally receive a digital certificate via email within 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sometimes, this may take longer if your application contains errors. In that case, Companies House will ask for additional information before approving it and issuing a certificate of incorporation.\u00a0<\/span><\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/information-to-set-up-limited-company\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">What information do I need to set up a limited company?<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/fix-common-mistakes-made-incorporation\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How to fix common mistakes made on incorporation  \u00a0<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/companies-house-services\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">What are Companies House services?<\/span><\/a>\n                    <\/p>\n<p><span style=\"font-weight: 400;\">If you register your company with us, a company expert will check your information before submitting it to ensure it has been completed correctly, thus avoiding potential delays.\u00a0<\/span><\/p>\n<h4>By post<\/h4>\n<p><span style=\"font-weight: 400;\">Postal registrations take a little longer. These are typically processed within 8-10 days, so you should receive a hard copy of your certificate in the post shortly after. Again, bear in mind that there could be delays, so generally, allow around two weeks for your certificate to arrive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you register with Quality Company Formations and purchase one of the following packages, you will receive a hard copy as well as a digital version of your certificate of incorporation:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Limited Company<\/span><\/a><span style=\"font-weight: 400;\"> (Privacy Plus or Fully Inclusive)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/non-residents\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Non-residents<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/multiple-share-class\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Multiple Share Class<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/guarantee\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Limited by Guarantee<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/llp\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">LLP<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/charity\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Charity<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/right-to-manage-company\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">RTM<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/property\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Property Management<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/formation-packages\/plc\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">PLC<\/span><\/a><\/li>\n<\/ul>\n<p>It\u2019s worth noting that companies legally exist as soon as they are on the register, even if you\u2019re still waiting for your certificate of incorporation to arrive in the post.<\/p>\n<h3>When you might need your certificate of incorporation<\/h3>\n<p><span style=\"font-weight: 400;\">A certificate of incorporation serves a larger purpose than authenticating your company\u2019s existence. You won\u2019t need to refer to it often, but there are several situations when it will come in handy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, when you want to open a business bank account. Banks will ask for a copy of your company\u2019s certificate of incorporation to verify its legal status and ensure that it complies with regulatory requirements. If you apply for a loan, grant, or other types of funding, lenders will want to see your certificate for the same reasons.\u00a0<\/span><\/p>\n<p>You might also need it to:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enter into contracts with other companies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Obtain business licenses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Buy or rent property<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Conduct business overseas<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sell new company shares<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Register your company for Corporation Tax<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prepare annual accounts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sell the company<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">To make the above processes easier, it helps to have your certificate of incorporation to hand.\u00a0<\/span><\/p>\n<h3>Replacing a lost certificate of incorporation<\/h3>\n<p><span style=\"font-weight: 400;\">All company documents should be stored safely and managed appropriately to ensure easy access when needed. However, physical records can be easily misplaced. If you need to replace a lost paper certificate of incorporation, you have a couple of options.<\/span><\/p>\n<h4>1. Download a PDF from the public register<\/h4>\n<p>Companies House makes a \u201cFile Copy\u201d available to the public, which contains the same information as the original certificate. They are stored on the Companies House register, which anyone can access.<\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p><span style=\"font-weight: 400;\">To download a PDF copy of this certificate, simply search for your company in the <\/span><a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">register<\/span><\/a><span style=\"font-weight: 400;\">, click on its name on the results page, and go to the \u2018Filing history\u2019 tab. In there, select the \u2018Incorporation\u2019 filter box, and you\u2019ll see \u2018View PDF\u2019 next to \u2018Incorporation\u2019 at the bottom of the list.\u00a0<\/span><\/p>\n<h4>2. Ask Companies House for a certified copy<\/h4>\n<p><span style=\"font-weight: 400;\">You can also request a physical copy of your certificate from Companies House. Simply find your company on the register (following the instructions above) and click on the \u2018More\u2019 tab. Then, select \u2018Order certificate\u2019.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Alternatively, call Companies House on 0303 1234 500 to order a replacement certificate of incorporation. There are two dispatch opinions: standard, which costs \u00a315 and orders are dispatched within 10 working days, or express, which costs \u00a350 and orders placed before 11am are dispatched the same day.\u00a0<\/span><\/p>\n<h4>3. Use the QCF customer portal<\/h4>\n<p><span style=\"font-weight: 400;\">If you formed your company through us, you can quickly and easily get a digital copy of your certificate of incorporation at any time by logging into your account.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the dashboard, click \u2018My Companies\u2019, then click \u2018View\u2019 next to your company name. Next, select the \u2018Documents\u2019 tab, where you can download a PDF of the document.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019d like a paper copy of this document, you can purchase it through our online shop for just \u00a310. Click on \u2018My Companies\u2019, then \u2018View\u2019 next to your company name. Go into the \u2018Shop\u2019 tab, where you\u2019ll see the \u2018Printed Certificate of Incorporation\u2019 option.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, if you lose it, there are a few different ways to retrieve your certificate of incorporation.\u00a0\u00a0<\/span><\/p>\n<h3>If you change your company name<\/h3>\n<p><span style=\"font-weight: 400;\">You can <\/span><a href=\"https:\/\/www.qualitycompanyformations.co.uk\/services\/company-name-change\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">change your company<\/span><\/a><span style=\"font-weight: 400;\"> name at any time after incorporation. If\/when you do, you won\u2019t receive a new certificate of incorporation, but you will get a Certificate of Incorporation on Change of Name.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This document will feature your old <\/span><b>and <\/b><span style=\"font-weight: 400;\">new company names and the rest of your company details, which remain the same.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should still keep your original certificate of incorporation, though\u2014this document will never change. You should keep both records at your company\u2019s registered office address.\u00a0<\/span><\/p>\n<h3>Summary<\/h3>\n<p><span style=\"font-weight: 400;\">All UK-registered entities receive a certificate of incorporation to indicate that the company legally exists and is ready to trade in the case of private companies. Registering online is quicker, easier, and cheaper, so you\u2019ll receive your certificate much sooner than you would by post.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The easiest option is to form your company through Quality Company Formations. We will email your certificate to you (and send a hard copy if you prefer, depending on your chosen package). If you ever need to retrieve your certificate of incorporation, our online portal makes this really quick and simple.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">            <div style=\"display: none\"><\/div>\n        \u00a0<\/span><\/p>\n"},"excerpt":{"rendered":"<p>When you apply to register a company, you\u2019ll receive a certificate of incorporation from Companies House once they have approved the application. This document confirms that the company legally exists as a separate legal entity and is distinct from its owners. Below, we explain what a certificate of incorporation looks like, when you might need&hellip;<\/p>\n","protected":false},"author":28,"featured_media":6581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1231],"tags":[],"class_list":["post-12839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-formation","category-1231","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Certificate of Incorporation Explained<\/title>\n<meta name=\"description\" content=\"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Certificate of incorporation explained\" \/>\n<meta property=\"og:description\" content=\"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-03T10:41:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-11T14:44:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Certificate of Incorporation Explained","description":"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/","og_locale":"en_GB","og_type":"article","og_title":"Certificate of incorporation explained","og_description":"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-10-03T10:41:30+00:00","article_modified_time":"2024-10-11T14:44:56+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/","name":"Certificate of Incorporation Explained","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg","datePublished":"2024-10-03T10:41:30+00:00","dateModified":"2024-10-11T14:44:56+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg","width":1500,"height":750,"caption":"A certificate of incorporation document lying on a glass desktop."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/certificate-of-incorporation-explained\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"Certificate of incorporation explained"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":881,"x_categories":"Company Formation","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2017\/04\/getting-a-replacement-certificate-of-incorporation-for-a-limited-company.jpg","x_date":"3 Oct 2024","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"_thumbnail_id":"6581","yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"1231","_yoast_wpseo_focuskw":"certificate of incorporation","_yoast_wpseo_title":"Certificate of Incorporation Explained","_yoast_wpseo_metadesc":"All registered UK entities get a certificate of incorporation to show that the company legally exists. Find out more about this important document.","_yoast_wpseo_linkdex":"82","_yoast_wpseo_content_score":"90","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"","_yoast_wpseo_estimated_reading_time_minutes":"6","_yoast_indexnow_last_ping":"1728657897","views":"881"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12839"}],"version-history":[{"count":7,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12839\/revisions"}],"predecessor-version":[{"id":12912,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12839\/revisions\/12912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/6581"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}},{"id":12844,"date":"2024-09-28T05:43:06","date_gmt":"2024-09-28T04:43:06","guid":{"rendered":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?p=12844"},"modified":"2024-10-03T09:42:07","modified_gmt":"2024-10-03T08:42:07","slug":"take-action-on-late-payments-to-small-businesses","status":"publish","type":"post","link":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/","title":{"rendered":"UK government to take action on late payments to small businesses"},"content":{"rendered":"<p>The UK government has announced some plans to deliver on the <a href=\"https:\/\/labour.org.uk\/change\/kickstart-economic-growth\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">labour manifesto pledge<\/a> to \u201ctake action on late payments to ensure small businesses and the self-employed are paid on time.\u201d<\/p>\n<p>According to the Federation of Small Businesses&#8217; (FSB) research, late payments are one of small businesses&#8217; greatest challenges. When invoices are delayed, a business\u2019s cash flow is threatened, and it resorts to other measures to keep afloat, such as taking on expensive debt.<\/p>\n<p>By addressing this issue, the government is acknowledging the critical role that timely payments play in the survival and growth of the UK\u2019s 5.51 million small enterprises.<\/p>\n<h3>How the government will crack down on late payments<\/h3>\n<p>In a <a href=\"https:\/\/www.gov.uk\/government\/news\/crack-down-on-late-payments-in-major-support-package-for-small-businesses?utm_medium=email&amp;utm_campaign=govuk-notifications-topic&amp;utm_source=ee2fb63b-451d-48d4-abdf-331ce20b5eea&amp;utm_content=daily\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">press release on 19 September 2024<\/a>, the government announced that it will begin a consultation to introduce tougher laws that hold larger companies more accountable for paying on time.<\/p>\n<p>This includes new legislation requiring all large businesses to include reports of their payments in their annual reports. This is intended to come into effect in the coming weeks. More details, including instructions on how to conduct this reporting, could be announced in the upcoming Budget announcement on 30 October.<\/p>\n<p>Making payment reporting mandatory will mean company boards and international investors will have full transparency over whether firms treat smaller businesses and suppliers fairly. This should pressure them to maintain a good reputation by paying punctually.<\/p>\n            <div class=\"revolut_shortcode\">\n                <a href=\"https:\/\/revolutbusiness.ngih.net\/daV2kQ\" data-wpel-link=\"external\" target=\"_blank\" rel=\"noopener noreferrer\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_mobile.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-mobile\">\n                    <img decoding=\"async\" src=\"https:\/\/cdn-brand.s3.eu-west-1.amazonaws.com\/assets\/images\/revolut_desktop.png\"\n                        alt=\"Revolut Business & Affiliates.\"\n                        class=\"revolut_shortcode-desktop\">\n                <\/a>\n            <\/div>\n            \n<p>The government also says it plans to improve its enforcement of the existing late payment performance reporting regulations. Under current laws, responsible directors who don\u2019t report their payment practices could face criminal prosecution, including potentially unlimited fines and criminal records. How exactly the government will step up this enforcement currently remains unknown.<\/p>\n<p>These changes mark initial steps towards a slightly fairer playing field for smaller businesses. Knowing that larger companies are being held accountable may encourage better business practices and foster more reliable partnerships.<\/p>\n<h3>Why are late payments such an issue for small businesses?<\/h3>\n<p>Put simply, when small businesses don\u2019t receive payment for their products or services when they expect it, it creates a gap in their cash flow. This can disrupt their planning and create a domino effect on other businesses, where they also cannot pay their suppliers and bills.<\/p>\n<p>According to data from accounting software company FreeAgent, nearly half (49%) of invoices sent by UK small businesses in the past year were paid late. And this problem is getting worse. The current late payment rate of 49% is a six-percentage-point increase from the same period last year (43% in 2022\/23).<\/p>\n<p>                                                    <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/how-to-deal-with-unpaid-invoices\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">How to deal with unpaid invoices<\/span><\/a>\n                                                                        <a href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/why-run-company-credit-checks\/\" class=\"related\" data-wpel-link=\"internal\"><span class=\"related-title\">Why you should run company credit checks<\/span><\/a>\n                    <\/p>\n<p>&#8220;Maintaining a healthy cash flow is the number one priority for anyone running a business&#8221; says Roan Lavery, CEO and co-founder of FreeAgent. \u201cHowever, the vast majority of small businesses simply don&#8217;t have the luxury of being able to absorb late payments into their accounts &#8211; they need to get paid promptly to keep themselves afloat.\u201d<\/p>\n<p>The government\u2019s press release stated that some small business owners, forced to wait months for contracts to be fulfilled, have had to take out loans against their own homes to manage cash flow.<\/p>\n<h3>The cost of late payments on UK small businesses<\/h3>\n<p>Another accounting software company, QuickBooks, used its data to calculate the amount small businesses were owed from unpaid invoices in September 2023.<\/p>\n<div class=\"flourish-embed flourish-chart\" data-src=\"visualisation\/19582738\"><script src=\"https:\/\/public.flourish.studio\/resources\/embed.js\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/public.flourish.studio\/visualisation\/19582738\/thumbnail\" width=\"100%\" alt=\"chart visualization\" \/><\/noscript><\/div>\n<p>Shockingly, more than one in ten (11%) are owed between \u00a350,000 and \u00a3100,000. Considering the tight margins many small businesses work with compared to larger businesses, this is a significant burden of debt to have no control over.<\/p>\n<p>The average amount SMEs are currently owed in late payments is \u00a327,214. That\u2019s enough to hire a new full-time member of staff. Sadly, 80 of the survey\u2019s respondents stated that they even had to consider firing staff before due to money owed from late payments.<\/p>\n<p>So clearly, late payments are a huge pain point for small businesses, threatening their ability to afford essential day-to-day operations. Cracking down on late payments should free up a company\u2019s cash for what it really needs to function and grow. It will enable them to invest their time in hiring more employees, boosting wages, and doing their essential work for the UK economy rather than wasting time chasing down late payments.<\/p>\n<p>While we wait for the government to consult on its new measures, there are some ways SMEs can take control to prevent this issue from happening.<\/p>\n<h3>Steps business owners can take to get paid on time<\/h3>\n<p>By taking these steps, small business owners can ensure that their payment terms are effectively communicated to clients. This proactive approach can significantly reduce the risk of late payments and contribute to the overall financial health of their business.<\/p>\n<h4>1. Review the terms listed on invoices<\/h4>\n<p>Ensure that payment terms are clear and upfront with clients. Specify the payment due dates in invoices and contracts (e.g. \u2018Payment is due within 30 days from the invoice date\u2019).<\/p>\n<p>It\u2019s sometimes recommended that businesses indicate that they charge interest on late payments. <a href=\"https:\/\/www.gov.uk\/late-commercial-payments-interest-debt-recovery\/charging-interest-commercial-debt\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">GOV.UK<\/a> advises that businesses can claim an annual statutory interest of 8% plus the\u00a0<a href=\"https:\/\/www.bankofengland.co.uk\/boeapps\/database\/Bank-Rate.asp\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">Bank of England\u2019s base rate<\/a>, which is currently 5%.<\/p>\n<h4>2. Use e-invoicing software<\/h4>\n<p>Accounting software can track invoices and send automated reminders a few days before payment is due. This can save businesses precious time in manually spotting and chasing up unpaid invoices and help keep payment timelines top of mind for clients.<\/p>\n<p>Steve Hare, CEO of Sage, claims that e-invoicing <a href=\"https:\/\/www.sage.com\/en-gb\/-\/media\/files\/company\/documents\/pdf\/digital-newsroom\/e-invoicing-report-paving-the-way-to-a-connected-economy.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">reduces late payments by 20%<\/a> and processing times by 44%, saving small companies an average of \u00a311,300 annually.<\/p>\n<h4>3. Be aware of guilty culprits<\/h4>\n<p>Before entering a contract with a larger business, check whether their track record is listed on Good Business Pays&#8217; <a href=\"https:\/\/goodbusinesspays.com\/the-late-the-slow-payment-watchlist-spring-2024\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-wpel-link=\"external\">Late and Slow Payment Watchlist<\/a>. If there\u2019s evidence the business is poor at paying on time, it will be a risk and may be worth pursuing an alternative.<\/p>\n            <div style=\"display: none\"><\/div>\n        \n"},"excerpt":{"rendered":"<p>The UK government has announced some plans to deliver on the labour manifesto pledge to \u201ctake action on late payments to ensure small businesses and the self-employed are paid on time.\u201d According to the Federation of Small Businesses&#8217; (FSB) research, late payments are one of small businesses&#8217; greatest challenges. When invoices are delayed, a business\u2019s&hellip;<\/p>\n","protected":false},"author":28,"featured_media":12845,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1239],"tags":[],"class_list":["post-12844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-accounting-finance","category-1239","description-off"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Government To Take Action on Late Payments to Small Businesses<\/title>\n<meta name=\"description\" content=\"Discover the UK government&#039;s plans to crack down on late payments to small businesses and the self-employed. Let&#039;s get started.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK government to take action on late payments to small businesses\" \/>\n<meta property=\"og:description\" content=\"Discover the UK government&#039;s plans to crack down on late payments to small businesses and the self-employed. Let&#039;s get started.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Quality Formations Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-28T04:43:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-03T08:42:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Amelia French\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Amelia French\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"UK Government To Take Action on Late Payments to Small Businesses","description":"Discover the UK government's plans to crack down on late payments to small businesses and the self-employed. Let's get started.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/","og_locale":"en_GB","og_type":"article","og_title":"UK government to take action on late payments to small businesses","og_description":"Discover the UK government's plans to crack down on late payments to small businesses and the self-employed. Let's get started.","og_url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/","og_site_name":"Quality Formations Blog","article_published_time":"2024-09-28T04:43:06+00:00","article_modified_time":"2024-10-03T08:42:07+00:00","og_image":[{"width":1500,"height":750,"url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg","type":"image\/jpeg"}],"author":"Amelia French","twitter_misc":{"Written by":"Amelia French","Estimated reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/","name":"UK Government To Take Action on Late Payments to Small Businesses","isPartOf":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/#primaryimage"},"image":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/#primaryimage"},"thumbnailUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg","datePublished":"2024-09-28T04:43:06+00:00","dateModified":"2024-10-03T08:42:07+00:00","author":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0"},"description":"Discover the UK government's plans to crack down on late payments to small businesses and the self-employed. Let's get started.","breadcrumb":{"@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/#primaryimage","url":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg","contentUrl":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg","width":1500,"height":750,"caption":"A UK accountant for a small business ponders over late payments on the company's annual accounts."},{"@type":"BreadcrumbList","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/take-action-on-late-payments-to-small-businesses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/"},{"@type":"ListItem","position":2,"name":"UK government to take action on late payments to small businesses"}]},{"@type":"WebSite","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#website","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/","name":"Quality Formations Blog","description":"Company Formation and Company Registration Information and News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/bed73883ca11839634a1e75d9c8ed8d0","name":"Amelia French","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","caption":"Amelia French"},"description":"Amelia is Director of Operations at QCF, responsible for managing and developing the operations of all our customer-facing departments. She has a Level 5 Diploma in Management and Leadership from the Chartered Management Institute and a Distinction in Company Secretarial Practice and Share Registration Practice from the Corporate Governance Institute.","jobTitle":"Director of Operations","url":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/author\/amelia-french\/"}]}},"views":745,"x_categories":"Tax, Accounting &amp; Finance","x_tags":"","x_featured_media":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095-128x128.jpg","x_featured_media_medium":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095-600x300.jpg","x_featured_media_large":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095-600x300.jpg","x_featured_media_original":"https:\/\/www.qualityformationsblog.co.uk\/wp-content\/uploads\/2024\/09\/Shutterstock_2309190095.jpg","x_date":"28 Sep 2024","x_author":"Amelia French","x_gravatar":"https:\/\/secure.gravatar.com\/avatar\/2225856d837fbf51b9dea454b7796bce?s=96&d=mm&r=g","x_metadata":{"_thumbnail_id":"12845","yarpp_meta":{"yarpp_display_for_this_post":0},"_dt_sidebar_position":"right","_dt_sidebar_widgetarea_id":"sidebar_1","_dt_sidebar_hide_on_mobile":"0","_dt_footer_show":"1","_dt_footer_widgetarea_id":"sidebar_2","_dt_footer_hide_on_mobile":"0","_dt_header_title":"enabled","_dt_header_background":"normal","_dt_header_background_below_slideshow":"disabled","_dt_header_transparent_bg_color_scheme":"light","_dt_header_transparent_top_bar_bg_color":"#ffffff","_dt_header_transparent_top_bar_bg_opacity":"25","_dt_header_transparent_bg_color":"#000000","_dt_header_transparent_bg_opacity":"50","_dt_header_disabled_background":"normal","_dt_header_disabled_transparent_bg_color_scheme":"light","_dt_header_disabled_transparent_top_bar_bg_color":"#ffffff","_dt_header_disabled_transparent_top_bar_bg_opacity":"25","_dt_header_disabled_transparent_bg_color":"#000000","_dt_header_disabled_transparent_bg_opacity":"50","_dt_page_overrides_top_margin":"","_dt_page_overrides_bottom_margin":"","_dt_post_options_back_button":"0","_dt_post_options_hide_thumbnail":"0","_dt_post_options_related_mode":"same","_dt_post_options_preview":"normal","_yoast_wpseo_primary_category":"","_yoast_wpseo_focuskw":"late payments to small businesses","_yoast_wpseo_title":"UK Government To Take Action on Late Payments to Small Businesses","_yoast_wpseo_metadesc":"Discover the UK government's plans to crack down on late payments to small businesses and the self-employed. Let's get started.","_yoast_wpseo_linkdex":"77","_yoast_wpseo_content_score":"30","_yoast_wpseo_focuskeywords":"","_yoast_wpseo_keywordsynonyms":"[\"late payments\"]","_yoast_wpseo_estimated_reading_time_minutes":"5","_yoast_indexnow_last_ping":"1727944928","views":"745"},"_links":{"self":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=12844"}],"version-history":[{"count":5,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12844\/revisions"}],"predecessor-version":[{"id":12851,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/posts\/12844\/revisions\/12851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media\/12845"}],"wp:attachment":[{"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=12844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=12844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qualitycompanyformations.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=12844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}]