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BLP Business Law + Practice Actual Verified Exam
Exam Newest With Complete Questions And Correct
Detailed Answers|| Newest Exam!!!
How do you incorporate a new company? - Answer-To
incorporate a new company, the applicant must complete
Companies House form IN01 and submit it, along with a
document called a memorandum of association, and
possibly the company's articles of association, to
Companies House with the applicable fee.
Which factors influence the fee payable to Companies
House upon incorporation? - Answer-The amount of the
fee will depend on the application method (electronic or
post) and whether the applicant has requested a same-
day service (which is only available by post or using
authorised software). A same-day service incurs a higher
fee.
When does a company legally come into existence? -
Answer-The company comes into existence upon the
certificate of incorporation being issued (ss 15(4) and
16(2) CA 2006).
,2|Page
What is a tax benefit of using an electronic application in
the process of incorporation? - Answer-Companies formed
following an online application will be registered for
corporation tax automatically, but if the application was
made by post, using a formation agent or using third party
software, the applicant will have to make a separate
application to HMRC, within three months of starting to do
business, for the company to be registered for corporation
tax.
Must a trading name be registered on form IN01? -
Answer-No. Unlike company names, there is no need to
register business/trading names.
What is a company's registered office? - Answer-The
company will need a registered office (s 86 CA 2006) and
will need to insert the address of the registered office on
the IN01. The registered office will be the address to which
correspondence from Companies House will be sent, and
also any official documents such as court documents.
How do you change a company's registered office? -
Answer-A board resolution is required to change the
company's registered office (s 87 CA 2006), and the
company must file form AD01 at Companies House. The
,3|Page
change of registered office address takes place when the
registrar changes it, but documents (including, for
example, letters of claim) can still be sent to the previous
registered office for 14 days after the change and they will
be deemed to have been sent to the registered office.
How many directors must a company have? - Answer-
Every company must have at least one director listed on
the IN01 and public companies must have two or more (s
154 CA 2006).
What is the minimum number of directors a private limited
company must have? - Answer-One.
What is the minimum number of directors a public limited
company must have? - Answer-Two.
What is a company secretary? - Answer-Private
companies do not have to have a company secretary, but
may choose to have one and they must be named on the
IN01.
, 4|Page
The company secretary will be responsible for
administrative tasks such as filing documents at
Companies House and keeping board minutes. The
company secretary can also be a director but thus does
not mean that directors have relinquished responsibility in
any way: they are still liable if the company secretary fails
to carry out his or her duties.
Can a company be incorporated with only one
shareholder? - Answer-Yes, the company's first
shareholders are called the subscribers, and they need to
be entered on the IN01. There is no maximum number of
shareholders.
When is a general partnership formed under the
Partnership Act 1890? - Answer-A general partnership is
formed when two or more people are 'carrying on a
business in common with a view of profit'.
Is a general partnership incorporated? - Answer-No, this
means a general partnership is not a separate legal entity
and the partners have unlimited liability.
When is a Limited Liability Partnership formed under the
Limited Liability Partnerships Act 2000? - Answer-LLPs
BLP Business Law + Practice Actual Verified Exam
Exam Newest With Complete Questions And Correct
Detailed Answers|| Newest Exam!!!
How do you incorporate a new company? - Answer-To
incorporate a new company, the applicant must complete
Companies House form IN01 and submit it, along with a
document called a memorandum of association, and
possibly the company's articles of association, to
Companies House with the applicable fee.
Which factors influence the fee payable to Companies
House upon incorporation? - Answer-The amount of the
fee will depend on the application method (electronic or
post) and whether the applicant has requested a same-
day service (which is only available by post or using
authorised software). A same-day service incurs a higher
fee.
When does a company legally come into existence? -
Answer-The company comes into existence upon the
certificate of incorporation being issued (ss 15(4) and
16(2) CA 2006).
,2|Page
What is a tax benefit of using an electronic application in
the process of incorporation? - Answer-Companies formed
following an online application will be registered for
corporation tax automatically, but if the application was
made by post, using a formation agent or using third party
software, the applicant will have to make a separate
application to HMRC, within three months of starting to do
business, for the company to be registered for corporation
tax.
Must a trading name be registered on form IN01? -
Answer-No. Unlike company names, there is no need to
register business/trading names.
What is a company's registered office? - Answer-The
company will need a registered office (s 86 CA 2006) and
will need to insert the address of the registered office on
the IN01. The registered office will be the address to which
correspondence from Companies House will be sent, and
also any official documents such as court documents.
How do you change a company's registered office? -
Answer-A board resolution is required to change the
company's registered office (s 87 CA 2006), and the
company must file form AD01 at Companies House. The
,3|Page
change of registered office address takes place when the
registrar changes it, but documents (including, for
example, letters of claim) can still be sent to the previous
registered office for 14 days after the change and they will
be deemed to have been sent to the registered office.
How many directors must a company have? - Answer-
Every company must have at least one director listed on
the IN01 and public companies must have two or more (s
154 CA 2006).
What is the minimum number of directors a private limited
company must have? - Answer-One.
What is the minimum number of directors a public limited
company must have? - Answer-Two.
What is a company secretary? - Answer-Private
companies do not have to have a company secretary, but
may choose to have one and they must be named on the
IN01.
, 4|Page
The company secretary will be responsible for
administrative tasks such as filing documents at
Companies House and keeping board minutes. The
company secretary can also be a director but thus does
not mean that directors have relinquished responsibility in
any way: they are still liable if the company secretary fails
to carry out his or her duties.
Can a company be incorporated with only one
shareholder? - Answer-Yes, the company's first
shareholders are called the subscribers, and they need to
be entered on the IN01. There is no maximum number of
shareholders.
When is a general partnership formed under the
Partnership Act 1890? - Answer-A general partnership is
formed when two or more people are 'carrying on a
business in common with a view of profit'.
Is a general partnership incorporated? - Answer-No, this
means a general partnership is not a separate legal entity
and the partners have unlimited liability.
When is a Limited Liability Partnership formed under the
Limited Liability Partnerships Act 2000? - Answer-LLPs
