Thursday, 28 March 2013

How to set up a Limited Company


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Following on from yesterday's blog on Why you Should Set up a Limited Company. Today our guest blogger Ed O'Neill from English In Newcastle explains how to set up a limited company. 

Your company doesn’t need to be in a shiny
skyscraper for it to be a Limited company.

Ed’s step-by-step guide to incorporation

·         There are many ‘formation agencies’ out there (google: ‘setting up a Ltd Company') who can charge anything from tens to hundreds of pounds to get your company set up. 99% of people who want to set up a company don’t need to use these, it is so easy to set it all up yourself, and it only costs 15 quid.



2. Click ‘Companies House Web Incorporation Service

3. Register for the service using your email if you haven’t already

4. Follow the steps, you will need:

-  Company Name and Address

-  Details of all Directors (in my case it was only me but you can have more, you can also have a Secretary, optional)

- 3 pieces of personal information (eye colour, mother’s maiden name, place of birth etc.)

- Details of any shareholders, normally the only shareholders are the Directors, or just you if you are 1 person.

-  Details about shares – For most people it will be a company limited by shares and each Director will have 1 share.

-  Adopt articles of association – You can just choose to adopt ‘standard’ articles by clicking ‘adopt standard articles’, unless you have some unusual share arrangements i.e. your Grandma has shares in the company but she can’t vote in the AGM etc. It’s unlikely this will happen!

-  A way to pay 15 pounds (credit/debit card or paypal)

-  Follow the steps on the website and if you have all the information I’ve listed it’ll be a breeze

What Responsibilities do You have as a Company Director?

Dormant:

  If You are a Dormant (not trading) Company. You have responsibilities if you trade or not, if you don’t make any sales or work on the company at all you still have to do some of these things. If you are a ‘dormant’ company, not trading, Companies House has more help on what your responsibilities are in their    
 Dormant Company Page (Scroll Down to Chapter 8).


 Trading:
 
If You are not a Dormant Company (A Going Concern) You have to do an Annual Return each year – Just a few questions about your business, it takes about 10 minutes, it’s all online and only once a year.

·         You have to file what are called Abbreviated Accounts, showing the financial position of your company. Personally I use an accountant to create and file all these things online. If you really want to spend the time you can do them yourself but you have got to love the numbers and you also have to put them in a format required by Companies House. My accountant costs around 600 pounds a year to file all these, as well as filing everything with the tax office (HMRC) (also one of your responsibilities) and it saves a huge headache and any mistakes. 

I strongly recommend having an accountant, not just if you have a Limited Company but also if you are self-employed, so your affairs are all in order

·         All Login information needs to be provided to the accountant so they can file things on your behalf, that all happens 18 months later though. For the start, just enjoy the feeling of ‘Having Your own Company’ and being a true ‘Company Director’.

You may also find these blogs helpful What is the market for your dream? Writing Online to Aid your Business and Why Should I Bother to Save

By Ed O'Neill


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Wednesday, 27 March 2013

Why Set Up a Limited Company



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Our guest blogger Ed O'Neill from English In Newcastle will today look at why you may want to set up limited company and tomorrow Ed will explain How to set up a Limited Company.

Put a face to the name: Ed O'Neill from English in Newcastle

History:

During voyages to the Americas, wealthy individuals would create Corporations (Limited Companies) that would voyage to the ‘unknown land’ the Americas. If they found untold riches and wealth, they could keep it. If the ship sank, got lost or otherwise came a cropper, the wealthy individuals were protected as only the money they had invested in the ‘Corporation’ was lost. This article is about forming or ‘incorporating’ your own Private Limited Company in the UK. 


Decision:

Deciding to start a Limited Company can be a big decision and there is a lot of research that needs to go into deciding if it is right and how to do it. This article will cover the following points:

1. Why set up a Limited Company
2. My Step-by-Step guide to incorporation
3. What responsibilities you have as a Company Director


Why set up a Limited Company? What’s in it for me?

  • Looks more professional and provides a measure of ‘security’ to people you are doing business with.
  • If you are thinking of expanding it can make the process much easier, paying salaries etc. is all done through the company.
  • If the company goes bust you don’t go ‘down with the ship’ so to speak. In fact, the first ‘corporations’ were exactly that (see above).  


A note of caution though: If you want to set up as a Limited Company and you do all of the work yourself, either for one client or more then you may fall under the IR35 rules, this is a method the HMRC (UK Tax office) uses to prevent people avoiding paying income tax and National Insurance if they are acting like employees of a company. A rather dry introduction to these rules can be seen on the HMRC page on the IR35 legislation
 

Tomorrow I will explain how to set up a Limited Company in the UK for 15 Pounds in 15 minutes! 

Can it really be that easy and cheap?! Find out on tomorrows blog How to set up a Limited Company.

Also you may find the blogs 1st Step to Search Engine Success

By Ed O'Neill


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Tuesday, 26 March 2013

Podcast: Series 4 EP5 - Future

The MYOB Show today: Dom O'Neill, Alistair & guests discuss the future for your dream in the post recession digital age.

Is the land-scape of your future big and bright?
  
Dom and Alistair ask: will giving up your free time and becoming a volunteer or an intern help future proof your dream? Could volunteering give you extra skills and knowledge that would otherwise be out of your reach?

Volunteering  is a double edged sword however, as there are a number of employers who take advantage of keen young volunteers and exploit them for their own gain.

To counter this Dom - from his years of experience - has created his need to know top tips on making sure you are not being take for a ride when volunteering.

Also on the show: Alistair discovers why you need an app... or do you?

Plus as part of our tech session we are getting the job done on the run. We ask which is best:

Laptop...


Tablet...


Or Smartphone?


Find out which one comes out on top on this weeks MYOB Show!

Today's guests are Emma Clifford from BBC Radio Scotland and regular contributor to the show and Ed O'Neill - MD of English In Newcastle. 



What is the MYOB Show?

Are you your own boss? If so, this is the show for you. It’s packed full of useful tips and advice from others just like you who are living the dream.

Take care,

Dom O'Neill
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Thursday, 21 March 2013

What Crew do you Need to Make a Short Film

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Want to make a Short Film?

If so, good... because making short films is hard work but great fun and easier then ever to do.

Plus with digital technology you no longer need a small fortune and a team of hundreds to make a good looking short film. 

From my experience working on and making my own short films: this blog  will go into what crew you need to pull off a great micro budget short film. 

As with all projects on a tight budget you need to keep it simple, so the smaller and more enthusiastic the crew the better. 
 
 

The Crew:

 Writer:
This person puts pen to paper (finger the keyboard) and comes up with the who, what, where, why and when of the story. Plus of course works out and writes down the beginning, middle and end of the script.

Director: 
 This person takes the words from the script and makes it happen in front of the camera (hopefully).



 Camera person: 
 This person makes sure what the director wants filmed gets filmed while making everything on screen look pretty.


Sound Person: 
You may not notice this person on set (as they are usually very quiet). A good sound person will literally polish turds all day and make a film sound and in turn look great.


Designer / Artistic Director:
On a micro budget film this person looks after all the "in front of camera stuff" - from make up, to costume, props and set dressing.


 Actors:
Don't get your mates to act. Use professional actors, the difference will be a more professional and engaging film. Most actors when fed, watered and warm are pleasant and up for a fun challenge.


 Producer / 1st Assistant Director:
This parson is often heard audibly tutting and sighing while looking at their watch. Its this persons job to make sure everyone and everything is in the right place at the right time and ensure the shoot WRAP's (ends) on time.

With a handful of talented individuals you can make great short films on micro budgets.

Why not give it a try? 

For info on using video to promote your message check out the blogs 8 Tips for a Great Looking Video Blog
Dom O'Neill


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Wednesday, 20 March 2013

Holiday Inspirations: Kos





Need a break? Don't worry we all do from time to time! Today's holiday inspiration destination is Kos. This blog suggests the many reasons why you should give this beautiful island a go if you are seeking rest and relaxation.

But Where is Kos you may well ask?

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Where?

Kos is a Greek island in the Aegean Sea a couple of hundred miles South East of mainland Greece and a stones throw away from Turkey. From the North east of the island you can see Turkey across the sea.

A Greek Island:

It takes around 3 hours to fly to Kos from the UK and 10 or more hours if you are traveling from the East coast of the USA. Travelers from the States will most likely need to change at a major European hub airport - such as London Gatwick or Athens - for a connecting flight to Kos.

What is there to do in Kos?
Relax:

Kos is with out doubt the most beautiful, tranquil and relaxing place I have ever been to. Spring time is the time to go as the skies are blue and cloudless but at 25 degrees Centigrade it is not too hot.

The locals are friendly and you are never under any pressure to do anything.

If you need some stress free time away to lounge, read a good book, and rest after a hard couple of months, there is no where on earth I would recommend more than Kos.


Great Drives:

Car hire prices are on par with many EU island destinations. However Greece has the some of the highest petrol prices in Europe. If you are worried about cost make sure you ask for a diesel vehicle as diesel is usually cheaper to buy (in Europe) and gives you more miles per gallon compared to Petrol.

Kos is a small island, you can cross from North to South in a couple hours. However I would take your time and take 2 or 3 days to visit the sights. I traveled South on the 1st day - the south is less developed, sees fewer tourist, has great views, fun roads, stunning beaches and good surf. The only issue is the night club town of Kardamena - unless you are 18-30 years old and want sun, sea and sex - its worth avoiding sadly.

On the second day I went up North. I was less impressed with the North as I felt it was over devleoped and full of tourist traps. 

However there were some really fun roads and stunning scenery - in the far North you can look out over the water and see Turkey in the near distance(pictured above).

Easy Going eating:



 I found a truly amazing cafe (pictured above) at Wave Beach which is an undeveloped stretch of beach far off the tourist trail on the South West Coast. My tour rep mentioned it in passing but suggested that the road to it wasn't good enough and "only locals go there". I'm glad I ignored that advice, as Wave Beach as the nicest beach on the island and the cafe served great sea food with a view to match. If you like surfing and body boarding, Wave Beach is worth a visit.

Impressive History:
  
 One place defiantly worth a trip to is the Asklepeion, which is an amazing archaeological site. It was built as a sanatorium and the "father of Medicine", Hippokrates worked there at one point. It's still an impressive and unexpected site and its slap bang in the middle of no where. Its worth a trip into the hills for a look! I was shocked at how big it was.

Stunning sunsets


If you go on one trip while you are on Kos you need to visit Zia at sunset. Zia is a village in the hills in the center of the island - South of the tourist town of Tigkaki. From Tigkaki it take around 40 minutes - careful driving - to Zia. It's best to leave plenty of time, as the sun sets pretty sharpish in that part of the world. If you turn up early you can bag the best spot (its a popular place to see the sun go down). Kos has stunning sunsets and Zia is arguably the best part of the island to view them from.

If you want a break from the hustle and bustle of life then you need a week or two on Kos! You wont regret it, however you may find it hard to go back home.

For more holiday ideas and advice check out What is a Staycation? and Why Fly Jet2: the Review.

Happy travels,

Dom O'Neill

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Tuesday, 19 March 2013

Podcast: Series 4 EP4 - Market



On the Podcast this week presenter Dom O'Neill, producer Alistair and special guests found out how to pay the bills while living the dream



Listen to MYOB Show Series 4 EP4 "Market"



Dom and Alistair chatted to Ed O'Neill (MD at English in Newcastle) and found out how he discovered the market for his dream and how you could find yours too!


Today’s feature is all about SEO and Google Analytics - what they are and how can you use them to strengthen and grow your dream online?


In the tech session the team are talking about selling: what will work bets for you? EBay, Gumtree or Amazon or a bespoke website

We will find out on today's MYOB Show Podcast.


Our Special guests today are: 
   Author and blogger Kathryn Brown ,
 Audio professional and former Spark FM host Richie lee 
and...

Ed O'Neill MD at English in Newcastle 

 Take care
Dom O'Neill



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Friday, 15 March 2013

What Do You Think? Working on the Run


This Weeks Question:

When working on the run which is best for getting things done? 

Find out on the MYOB Show Podcast below
 


Laptop?

Photo by Georgy Papantoniou's


Tablet?

Photo by Jim.Henderson


or Smartphone?
By Carl Berkeley

 Which one do you use? Leave us a comment and let us know?

The best answers will be read out on the show on Tuesday 26.03.2013, so include any shout outs in your comments.

Cheers,

Dom O'Neill


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