Very helpful. Thank you!

Thank you for this. Can I choose not to pay myself any compensation as a Director, and take all the money through dividends? (I cover all these roles alone)

Great summary. The only caveat I'd add to this is in relation to some benefits - for example, the definition changes when claiming Universal Credit. For the purposes of income, you're considered "self employed" by DWP for ANY business income as a sole director, minus your PAYE (which is considered a business expense and gets reported to DWP separately) and business expenses.

excellent. Quick and easy access to vital information , very well presented.

This video is very informative and useful for me

You explained this comprehensively and so well, thanks.

Excellent explnation. Thank you

What if I’m a sole director and have no other job but chose not to be paid a director salary at all? How would that affect the self assessment? As low income and can claim the benefit ?

This was so useful and clarified my situation! Cheers!

Good

1st Formations is absolutely a great company who cares alot about its customers, help them in every matter and motivates them for good !!!

Great video!

This is exactly what I was looking to clarify. Thanks for this informative video.

Very nice informations

I am very happy to open a British limited company and dealing with " 1 st Formations " made everything easy for me to understand the procedures and transactions Thank you 1 st Formations. Thank you for all your services 1 st Formations.

Your videos and blogs are very informative and simple to understand. I couldn't say the same for HMRC and Goverment official site. They try so hard to be confusing as much as possible. However, fortunately, we have you. Thanks for all of your effort and time that you put into this videos and Shorts, as well. Cheerio!

Good video and very informative! Good Job!

Great info

That was interesting. I had thought with my minimal income through th business, my earnings fell below any need to contribute. Following my viewing of the video, I did check a couple of minor things out. The straightforward explanation made my checking out all the easier and did confirm for me that I was way below the threshold Tanks for your help guys.

Great video, thanks

Thank you, Nicholas, really good sharing! 🤝🤝🤝

Cool

Best explanation for layman

Thank you so much for the informations 🙏

Nice

It was very helpful and informative.

Well explained. Privacy is important.

Very well explained! Thank you for providing clarity on the matter.

Good video, nice to have support while doing something like starting a company.

Hi, thanks for the video, I want to ask if you are the director of your own limited company, can you claim these expenses like council tax and mortgage etc. as company expenses and the same time claim from self assessment as your personal expenses?

Great video, thanks

Thank you for including this service in my recent package of company formation works with 1st Formations for the first year, and will continue to enjoy this opportunity to safeguard my company with privacy at a trusted, registered address.

Great video, very helpful in helping me understand the establishment of the company!

Choosing a residential address as the office location is more convenient, but I am concerned about privacy and the potential lack of customer trust compared to a traditional business address.

Great advice. As someone who travels frequently for long periods, I love the security provided by the mail forwarding option.

Hello, a excelent channel with a lot of useful information. Thanks a lot for the advice and help. I would like to have a commercial address, I would not want all customers to know exactly my personal address, how can I do that.

Privacy, Professional Image, Trust worthiness, Junk Mail all in my view fall under one umbrella and are not a deal breakers. The only thing I would care about is the flexibility. The office address should always remain same in order to better correspond with Govt. officials.

Great advice for business owners. This video explains very clearly the pros and cons of using your home address.

It is very well explained and it is quite reasonable. Thank you very much for your work.

Thank you so much for this great video!

I will always use your company for my address as its so simple and all in one package.

Really smart an idea. Thanks...

Well explained. The greatest one for me was the privacy and image… and talking of image, I like the bow tie! 😉

Short, concise and right on point as always, and plus, I am learning pronunciation of new words. Thank you for being consistent in helping us in byte size lessons

6. Continuity: Your don´t have to change your business address when you or your offices/stores are moving.

I like it

And along with the privacy issue, anyone can turn up at anytime, day or night, to request to look at your accounts, if this is also being used as the SAIL address. So therefore not the best idea to use your home address if you don't want someone knocking at your front door at 2 am whilst you're asleep and they want to see how you did last year.

I certainly wouldn't want customers to find out where I lived... great advice! Thanks, Nicholas!

hello! I have a question about wise wanting a physical address in order to keep my USD account, idk what to do? it doesn't accepts my home address because my country isn't supported a also doesn't let me add the same first formations address

question for first formations: 1. If I have the "registered office address service" in the package that I got do I just wait? I incorporated my ltd company on 4 sept 2023, do I just wait for you guys to send me the email, and then send it to an accountant? Is there something else to do? I'm not trying to get any penalties. 2. When I go to "contact HMRC on the link that you showed me on the previous comment i do I go and click on the "Pay your Corporation Tax bill" link at the top, cuz I don't see a way to contact HMRC other then call from a phone and physical post. Thanks!