There are some key things you need to do once your new limited company is incorporated, here’s a checklist for you;

• Company stationery must show the full company registered name, registered office address, where incorporated and company registration number
• A Company bank account must be set up and all expenses and receipts processed through it
• If you were previously paying Class 2 NI contributions as a sole trader, you must inform HMRC of the change
• Keep all HMRC and Companies House correspondence either in paper form, or electronically so that these can be accessed at any time for information
• Payments made to Directors over the PAYE salary amount should be called ‘Drawings’. NLD will deal with the dividends and issue vouchers at the year end.
• Keep an eye on your turnover level for VAT registration purposes – this is based on what is invoiced, not what is received into the bank account.

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