"I've used Co-op and CAF banks and had a largely positive experience but neither have a lot of branches. If you intend to keep things electronic that shouldn't be a problem. I've used Nationwide for personal stuff but not business, and…"
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"The notes to the model articles say to update the quorum (art 15), so I would do that to be safe, but I don't see a single director holding a 'meeting' with themselves."
"If you have a look at the model articles, the following can be inserted into article 12:
"In the event of the Company having only one Director, a majority decision is made when that single Director makes a decision."
This allows decisions…"
"1. Yes
2. You don't need to notify HMRC when appointing directors, but you will need to notify Companies House
3. Unpaid directors don't generally have service contracts, but they will have duties to the company"
"Yes, it was straighforward enough. One potential trouble may be the limited number of Co-op bank branches, but we only used it online, not for paying in or withdrawing cash."
"I've used The Co-operative Bank in the past for a CIC.
https://www.co-operativebank.co.uk/business/products/current-accounts/community-directplus"
"Hi Tanya
You said you'd registered as a sole trader. Was this with HMRC?
You can't "convert" a sole trader to a CIC, so you would need to form a CIC.
On the other hand, if you already have a company then you can convert this to a…"
"Hi Tanya
Have a look at the step-by-step guidance on setting up a CIC at https://www.gov.uk/government/publications/community-interest-companies-business-activities/cic-business-activities-forms-and-step-by-step-guidelines
If you have specific…"
Comment Wall (4 comments)
- At 7:22 on April 26, 2018,
Alex Thomson said…
Great. Thanks again.
- At 19:23 on April 25, 2018,
Hi James. Am I right in assuming that if you are a director, you don't have to register as a PSC by virtue of directors having significant control in their role?
- At 7:13 on April 25, 2018,
OK. It would seem that 3 directors will suffice. Many thanks James
- At 16:07 on April 24, 2018,
Thanks James. Do you think 3 subscribers would be enough for company credibility?
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