The United Kingdom (UK) is one of the largest and developed consumer markets and it’s a prestigious location for business. Even after Brexit, the UK is still a place of enormous opportunity.
The United Kingdom (UK) is one of the largest and developed consumer markets and it’s a prestigious location for business. Even after Brexit, the UK is still a place of enormous opportunity. The UK is a favorable business destination for Indian businesspeople. To encourage competition, the UK government has made changes in its norms for easing the operation of the business, such as the Indian nation are free to open and operate the business in the UK depending upon the form of company and type of industry.
A corporation can not operate as a limited company until it is incorporated under the Companies Act 2006 at Companies House. Establishing the business as a company ensures that each year the directors are required to file such papers, such as annual reports and confirmation statements.
They must also notify Companies House of any changes, such as appointing or resigning directors or changing the registered office of the company.
➲ Separate entity
A limited liability company is, in the eyes of law, a different organization to its owner. It is another great benefit of forming a limited company, rather than a sole trader. A single trader is seen as one person, and its owner is. A director of a limited company has insurance, should the company fail. Because the corporation is the independent party, it may conclude contracts and is responsible for all the business. As it is a separate entity contract/agreement will be entered in the name of the company.
➲ Low set up cost
There is a common misconception that forming your own limited company is a very costly process involving hiring a solicitor and preparing legal business paperwork.
It really surprises most people to learn that with our digital package, you can actually set up your own limited company for as little as £12.48. There's also no need to invest in expensive legal assistance either!
➲ Easy incorporation process
Incorporating a business in the UK is quick and easy, as there is a minimum legal requirement.
➲ Tax advantage
You are likely to pay less personal tax as a registered limited company than a sole self-employed trader. Your limited company income will be subject to corporate tax, which is 19 percent for the current fiscal year 2018/19 at the time of writing. There is also a goal for April 2020 to get this figure down to 17 percent.
➲ Private limited company limited by shares
This company holds a share capital and each member's liability is limited to the sum unpaid on their shares if any. A private enterprise can not sell its shares to the general public for sale.
➲ Private limited company by guarantee
This company does not have a share capital and its members are not shareholders but guarantors. The responsibility of the members is limited to the amount if it is wound up they have to contribute to the assets of the company.
➲ Private unlimited company
An unlimited company may or may not have a share capital but there is no limit to the liability of the shareholders.
➲ Public limited company
A public company has a share capital which limits each member's responsibility to the amount owed on their shares. It may sell its shares to the general public for sale and can be listed on the stock exchange.
➲ Community interest companies (CIC)
A Community Interest Company (CIC) is a limited company designed for people who plan to carry out activities that support the community. CICs are registered as companies under the Companies Act after the application to create a CIC has been approved by the CIC regulator. The regulator also has a continuous supervisory and compliance role.
In the UK Public limited company is most popular for expanding businesses among other forms of available business in the UK. Public limited company shares many of the attributes of Limited Liability Partnership but can source public investment.
➲ Minimum 1 director (any nationality) for incorporating Private Limited company
Whereas for incorporating Public Companies a minimum of 2 directors are required and one qualified secretary is required.
➲ Registered office address
➲ Copy of passport and ID of Shareholders
➲ Copy of passport and one additional ID of director
➲ Registered office address proof (must be of that place in the UK where the company is going to be incorporated)
➲ What will be objective of business so that can decide standard industry classification (SIC) code
➲ Details of shareholders and director
➲ Preparation of company registering form (Form IN01)
This form consists of the following information:
➲ Draft the memorandum (bylaws) for the proposed company
The memorandum is a much shorter document under the Companies Act 2006, since all of the company's constitutional laws are contained in the articles association. The memorandum thus has a more restricted function, and can not be amended once the company has been incorporated.
➲ Draft the article of association of the company.
Articles of association of a company are its internal rulebook, chosen by its members. Every company needs to have documents that are legally binding on the organization and all of its members. The articles help ensure that the business of the organization operates as smoothly and effectively as possible and explain how decision-making is made by members and directors as well as various related issues.
➲ Tax for Corporate:
➲ Tax on Dividend:
➲ VAT (Value Added tax)
➲ Bank Account opening Facility
We will help you in opening a bank account remotely in the UK where your business has been incorporated. You don't need to visit that place for getting the bank paperwork, everything will be processed remotely.
➲ Trademark Registration
We can register your trademark under the UK trademark attorney for making your brand and trade name safe and secure
➲ Mailing services
Can provide you the mail services either electronically or physically for your newly incorporated company.
➲ VAT registration
If turnover over the last 12 month is 85000 Euro or more then you are liable to register yourself in VAT and have to pay the VAT liability
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