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@writenext 8 сағат бұрын
You guys are awesome🎉
@TechinBag 2 күн бұрын
do we need to pay this even for a dormant account ??
@graemehay5337 Күн бұрын
Yes dormant companies still need to file a confirmation statement and also dormant accounts 👍
@tommy3bad 6 күн бұрын
Unfortunately they’ve put the price up to £34
@basicsofbiz 5 күн бұрын
Unfortunately it did Tommy and thanks for flagging. All Companies House fees went up 1st May 2024 and by a big amount proportionally.
@PrestigeLighters 18 күн бұрын
They were so close, I thought they were going to kiss
@arn9858 21 күн бұрын
Hi , if I buy a business does the turnover go to £0.00? Also if a business is over the £90k limit can refurb be claimed from the turnover
@MachineUltraX 28 күн бұрын
Thank You!
@basicsofbiz 13 күн бұрын
You are welcome. Delighted the video was helpful 👍
@valerieeey Ай бұрын
Thanks for this, super helpful!! I was really nervous when I got the email
@basicsofbiz Ай бұрын
No problem at all! Delighted you found the video helpful 👍
@JimIntriglia Ай бұрын
Thanks for your informative video. FYI - It appears that U.S. businesses that want to open a free business account can join a waiting list, due to 'Revolut's processes being improved' (?).
@basicsofbiz Ай бұрын
Many thanks and delighted you found the video helpful 👍 Interesting point on the US service also and thanks for sharing. One to keep an eye on!
@Ziplock9000 Ай бұрын
Unfortunately unless you have a passport or driving licence you can't open up an account. Official ID like the Post Office PASS, which is a photo ID, with name and address and approved by the home office and find for Etsy is not good enough for them. So some small businesses can't use them.
@basicsofbiz Ай бұрын
Yup, the Post Office PASS doesn't seem to be accepted by a lot of the banks we suspect because it's a proof of age card rather than a proof of ID. Seems Natwest and Lloyds are part of the few that do though however they definitely seem to be in the minority.
@Ziplock9000 Ай бұрын
@@basicsofbiz I contacted NatWest and they said they don't accept it. Although it's tagged as a proof of age, it's actually a proof of identity too as it has a picture, address and name. It also has the same vigorous application process that a more traditional ID has. It's silly banks don't accept it.
@DianaDin-xr1cf Ай бұрын
How about outside uk how is works
@smooth2051 Ай бұрын
my company dissolved by company house and ım never use my company or trade anything am ı need to file anything?
@basicsofbiz Ай бұрын
If your company has been 'dissolved' and no longer exists you can't file anything. If a company is 'dormant' by comparison and has never been used or traded etc however you do still have to file a confirmation statement and dormant accounts.
@adamslamani1 Ай бұрын
Perhaps NatWest, Revolut is a strong contender, tide is a massive no go
@basicsofbiz Ай бұрын
We're looking to add Natwest to this comparison soon so stay tuned! 👍
@leburrohman5119 2 ай бұрын
Excellent video
@basicsofbiz 2 ай бұрын
Delighted you found video helpful 👍
@mikecuggy9018 2 ай бұрын
Your chess board is set up incorrectly - switch the black king and queen so that the kings are opposite each other ;)
@basicsofbiz 2 ай бұрын
😂 Good spot Mike. The chess board is an heirloom from a family member who hoped it would persuade me to keep playing. As you have spotted though it's not had the desired effect! 😂
@MH-wy5uf 2 ай бұрын
Hi. I have a question. Every time I file the statement the payement fails. How can I fix this.
@basicsofbiz 2 ай бұрын
Nothing we can really advise on unfortunately as the site is a run by Companies House. Would simply suggest giving their helpline a call when it happens - www.gov.uk/contact-companies-house. Hope you get it sorted out 👍
@ChrisStockley-d5v 2 ай бұрын
Would like your views on Natwest for start ups
@basicsofbiz 2 ай бұрын
Review of Natwest in the works Chris. 👍
@kellygrant2290 2 ай бұрын
Thanks so much lads for your honesty
@basicsofbiz 2 ай бұрын
Our pleasure and hope the video helped 👍
@vinicius25482 2 ай бұрын
This is the best video i have seen about.Many thankssssss
@basicsofbiz 2 ай бұрын
Delighted you found it helpful 👍
@shanpieee 2 ай бұрын
Great video. Thank you
@basicsofbiz 2 ай бұрын
Many thanks and delighted you found the video useful! 👍
@ladyvoice7747 2 ай бұрын
I am so grateful for this video thank you for this❤
@basicsofbiz 2 ай бұрын
No problem at all. Delighted the video was of value 👍
@TMM124 3 ай бұрын
Can i use Wise, just as conversion money tool and once i received money from clients in $, transfer into Euros so then i can finally transfer to my company banks account? Does we need any invoice to show the rate we did the conversion and does Wise allow this method of use?
@basicsofbiz 2 ай бұрын
Yes you can use it like that and that's exactly how I use it for one of my businesses being paid in $ and then transferring into £. Wise generates a receipt recording the rate at the time of transfer which your bookkeeper or accountant can then use to confirm the conversion rate, fees etc. Hope this helps 👍
@TMM124 2 ай бұрын
@@basicsofbiz Awesome, thank you very much.
@graemehay876 2 ай бұрын
@@TMM124no worries at all 👍
@stefankopinski 3 ай бұрын
Best information to boot, so far ;) My biggest worry for me is the 'KYC (know your customer)' process and supplying biometric data to these 'businesses'. The 'selfie' video for one and whether this information might be shared with various third party customers. If there were a breach of security, I wouldn't be able to change my fingertip or face in comparison to a pin number or memorable information. Secondly, with the push for CBDC, might there be a risk of shutting down an account if the 'powers that be' don't like the way you choose to operate; fairly or not? Do you have any information on this at all? Thanks.
@basicsofbiz 3 ай бұрын
Many thanks and delighted you found the video helpful. The security aspects are tough for sure. Appreciate your concerns about sharing an every increasing amount of data for different types but on the banks side to be fair they would be fined out of business if they didn't conduct a very stringent KYC process to check people's identity and verify the source of money. We don't have any information on this specific topic unfortunately but hopefully the KYC processes going forward will get the balance right.
@stefankopinski 3 ай бұрын
@@basicsofbiz Thanks very much for getting back to me and for the response. That's all good to hear. I hope so too, I've just got to go and bite the bullet... Cheers!
@AliRaza-yu4tb 3 ай бұрын
Hsbc geramny ?
@OOOOOOOO-10 3 ай бұрын
Your experience is very valuable because it explains the real needs of entrepreneurs.
@basicsofbiz 3 ай бұрын
Delighted you found the video helpful 👍
@OOOOOOOO-10 3 ай бұрын
Thank you so much ... 🙏🏻🙏🏻🙏🏻
@basicsofbiz 3 ай бұрын
Many thanks. Delighted you found it useful 👍
@Magicmann 4 ай бұрын
Wow, I wish I could have you guys explain everything to me. I’d be a superstar, thanks!
@basicsofbiz 4 ай бұрын
Many thanks. Delighted you are finding the videos helpful 👍
@learobinson 4 ай бұрын
This seems out of date, I was asked different questions when filling the form, the one I was clueless about was am I a processor, a controller, or a processor AND controller. The website give no help or information on what each is.
@basicsofbiz 4 ай бұрын
The questionnaire may have changed since we did it but we wouldn't expect it to be too much. Different questions may of course appear for you than for us given how you answer previous questions. On the differences between processors, controllers etc we found this on the website - ico.org.uk/for-organisations/direct-marketing-and-privacy-and-electronic-communications/guidance-for-the-use-of-personal-data-in-political-campaigning-1/controllers-joint-controllers-and-processors. Hope that helps a bit more 👍
@mostadigital7917 2 ай бұрын
Ask ChatGPT next time
@charliem7209 4 ай бұрын
Brilliant video, thank you very much guys
@basicsofbiz 4 ай бұрын
Many thanks Charlie. Delighted you found it helpful 👍
@kvakpavel79 4 ай бұрын
Way too long guys common
@CorneliuCazacu-yb3bw 4 ай бұрын
Thanks a lot! ❤️
@basicsofbiz 4 ай бұрын
You are welcome! 👍
@memories-fh5fd 4 ай бұрын
must i have a physical address at the time of company setup? i 'm thinking of paying for a physical adress but only after setting up the company. thanks
@memories-fh5fd 4 ай бұрын
how soon after a new company formation does this need to be done?
@basicsofbiz 4 ай бұрын
You must file at least one confirmation statement every 12 months. Your 12 month review period starts on either the date your company incorporated or the date you filed your last confirmation statement. Full details are on the Gov.UK website here - www.gov.uk/guidance/confirmation-statement-guidance#review-period. Hope that helps 👍
@CurseTheseMetalHaans 4 ай бұрын
Your videos have been super helpful.
@basicsofbiz 4 ай бұрын
That's great to hear. Many thanks!
@SumitraKH-b7p 4 ай бұрын
Tide bank worst service they eat innocent victims money
@esmob4140 4 ай бұрын
Very helpful and informative video! Great channel, keep up the good word! I have a question about the "principal place of business"; I want to register an online software business, and as I have a virtual office address, I am wondering if I can use that office address also as "principal place of business". The virtual office company states that I can use that address as "Business Trading Address" as well as "Registered office". I am wondering if setting that virtual address as "principal place of business" instead of my home where I will be doing most of the work, will have any legal implications or not? I would appreciate your answer on this, if you could give more details, given it is really just a software company with just 1 person/director.
@MuratSahin-on8jz 5 ай бұрын
Hello sir ı hope you are have ing a good day ı opend a limited companiy 6 months ago and ı never used it ı dont evin trade or do any other think . And thet becouse ı never made a tex retern or a comfirmation statement . And now ı whant to close my company becouse ım not going to use it what should ı do ı hopw you see this coment . Thank you for your time
@fickyrisher 5 ай бұрын
Hi thank you, this was helpful. I have a question, I have just started 3 jobs/businesses. 1 - Amazon Delivery driver, self-employed 4 days a week, £1,600 pcm 2 - Sales rep B2B engineering, self-employed, one client, commission only, yet to start expected £1,000 pcm 3 - Drone operator geo surveying and crop analysis, not yet started £???? pcm My question; Getting the drone business up and running will cost around £10k in equipment, however, if I was registered I could claim back the VAT. It would seem that being registered from the start will save me money, and as it will be B2B any work I do will be with VAT-registered customers. But what if it doesn't work out, will I need to pay back the VAT on the equipment I purchased? Also, dose my self-employed work have any impact on setting up the drone business on companies house? Apologies if im asking silly questions I have only just started looking into it
@GarethMelly 5 ай бұрын
I had massive issues with opening a Starling biz acc. Went straight to Revolut and no problems.
@basicsofbiz 5 ай бұрын
Thanks for sharing your experience and glad you got something sorted with Revolut Gareth. The account opening process is so key but it seems to be a stumbling block for a lot of people much of the time.
@neilsmith9220 5 ай бұрын
Well... this was a really excellent production. It helped me no end in whittling down some prime candidates from what originally looked like a mass of different options. Tons of common sense and a thoughtful, logical, organised approach. Absolutely priceless. Thank you so much, gentlemen. I really cannot thank you enough. You have a new subscriber.
@basicsofbiz 5 ай бұрын
Thanks Neil. Really appreciate your feedback and delighted the video was helpful. Hope you enjoy the upcoming content also 👍
@themeetionBysatisfying 5 ай бұрын
Very good video ❤
@basicsofbiz 5 ай бұрын
Glad you liked it! Many thanks for the feedback 👍
@themeetionBysatisfying 5 ай бұрын
@@basicsofbiz SEO is search engine optimization, people don't search by typing title, they search by keyword, that's why SEO will show your video in search engine and reach people, if you do SEO then you have to search keyword and give title. Description Tag Hashtag If you want I can help.
@chrisder1814 5 ай бұрын
hello I am writing a Ltd to sell on Amazon England I am French and I live in France I don't understand why I receive letters from the English government every two months and the last one I received was asking me for money but I don't understand why since I thought that an Ltd is free , I have never made any turnover with is it possible to change my bank card number and also the postal address
@AidanEyewitness 5 ай бұрын
Very thorough and useful, thanks.
@basicsofbiz 5 ай бұрын
Delighted you found it helpful
@tabztalkz 5 ай бұрын
Hi if im essential working as a middleman (procurement of goods from businesses to sell on to other businesses) should I register?
@mTechPenn 5 ай бұрын
Wise is great until it's not. The customer service is not great. They closed my account and gave me no chance to explain why I was using wise
@basicsofbiz 5 ай бұрын
Sorry to hear that, hope you managed to get sorted with another bank quickly. Good luck
@vivianbond5958 5 ай бұрын
Can you have more than one business account with revolut?
@basicsofbiz 5 ай бұрын
There is a multi business account facility within Revolut, but it isn't clear if this is to link multiple businesses that each have 1 account or for a single business to have multiple accounts. This link takes you to the section of Revolut site that deals with this. Hope this helps help.revolut.com/business/help/setting-up-an-account/multi-business-accounts/how-can-i-link-an-additional-revolut-business-account/
@PsychBoost 5 ай бұрын
Really been finding your content extremely useful as I transition my YT into a full-on limited company; thanks a lot guys! Good luck with the channel, your providing valuable content!
@basicsofbiz 5 ай бұрын
Many thanks for the feedback. It is much appreciated. And of course we wish you all the best with your growing venture 👍
@Mohammad65372 5 ай бұрын
What is a Trading/Business Name separate from the Official LTD name? Where do we register our Trading name? How many Trading names can a single LTD own? And how can new business owners take advantage of this from a Marketing perspective? And can we use words in our Trading name which are considered sensitive by Companies house for official registration of Companies? Why are some words considered sensitive by Companies House and how to maybe get through this regulation? Thank you! :D 👍
@basicsofbiz 5 ай бұрын
You don't have to register trading names with Companies House and you can have as many as you want. Again though you need to take care not to infringe on any other businesses trademarks with your trading names and of course you can consider registering your own trading name as a trademark - e.g. ABC Limited trading as Apples, Biscuits and Cakes for Sale. As for sensitive words here is a list of them at Companies House - . www.gov.uk/government/publications/incorporation-and-names/annex-a-sensitive-words-and-expressions-or-words-that-could-imply-a-connection-with-government - Hope this helps 👍
@RofedaH679 5 ай бұрын
Dont recommend tide bank it's a sick company and worst service scammer who destroyed my business account
@alwm94 5 ай бұрын
very useful video. thnks for taking the time to review all of these
@basicsofbiz 5 ай бұрын
No problem at all and delighted you found the video useful 👍
@vidibites 5 ай бұрын
What about Mettle? Would like to see that included.
@basicsofbiz 5 ай бұрын
Thanks for the feedback. Will add to the list if we can at a future date 👍