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+1 (888) 647 05 40Registration of the company in the UK will allow you to develop business in one of the richest countries in the world. But before the business foundation you have to choose a legal form and a structure.
It will determine the basic rights of the company itself and business owners. For example, the taxation politics, distribution of profit and responsibility in case of losses.
In the UK you are free to manage a business in the forms of sole trading, unincorporated association, partnership, limited partnership, trust and limited company. In this article we will pay attention to the most popular structure – limited company.
This entity does not provide personal liability for the business owners. The company itself is responsible for its business affairs and can enter into transactions and sign contracts on its behalf.
The process of registration is quite simple and requires at least one shareholder and one director. They may be the same person.
The activity and internal structure of the company are regulated by its Memorandum and Statute, as legislation does not make clear demands concerning these points. Limited Company is the most popular entity in the UK because of the simple procedure of registration, low requirements and rather flexible tax conditions.
First of all, tou have to choose the name of the company. An appropriate name is very important, as it allows to distinguish your business and services from the similar on the market. There is an international name register with the list of all names that are already taken.
Before the submission of the documents you have to check it. If you choose a name that is unavailable, your application will be declined. Also, there are several restrictions in part of naming. For example, you are prohibited to use general names as “Milk”, “Bread”, “Phone” and others. It also can not fill the names of the public authorities and government.
The last restriction is connected with offensive words. It is forbidden to use a name, which can hurt a gender, national or religious feelings. All the names have to start from the naming of the legal entity.
We have already mentioned that you need at least one shareholder and one director. But it is possible to appoint a few directors at once. In this case, you need to state their responsibilities in the Statute.
You do not have to hire a secretary, but this person is also important. You will state the secretary in each meeting document, so it is easier to appoint him or her at the beginning. One of the main duties if the director is to inform shareholders and company team about all the structure and legal changes.
Besides, the director prepares a financial report and presents it to the shareholders at the end of the financial year.
Two other important employees are the accountant and lawyer. After company registration you have to pay regular taxes for all the business activities and submit reports to the tax service. The qualified staff will save you time.
Eternity Law International will gladly help you with registration of the copmany in the UK, and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.
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Deliberating about commencing a commerce in this region, it’s vital to be aware of the prices for registration and maintenance of companies. Routine relatively lucid, but it involves various outcomes that ought to be thought about upfront, as well as continued enlargements to keep the commercial operation obedient. Let’s explore the key aspects of cost of company registration in UK and retainment, commencing preliminary levies to continuing charges.
The company registration cost UK is dependent on the characteristics of the launching routine you opt. Here are the typical expenses:
– Set up by the web resource: £12 (completed approx. in a day).
– Launching by post: £40 (approx. to 10 days).
– Lawful consultation
– Setted up corporate headquarters facility
– VAT enrollment
After the enrollment routine, maintaining an establishment in good standing is vital. Failure to do so can result in penalties. The major company maintenance fees UK comprise:
– Registration via internet resource: £13.
– Postal submission: £40.
– Tiny commercials can file their own accounts, but hiring an accountant can range from £500 to £2,000 per year, contingent upon the complications of your monetary audits.
Beyond the basic charges of launching and retaining, there are extra outcomes to think about when functioning like a commercials:
How Much Does It Cost to Register a Company in the UK?
– Company registration prices UK:
– £12 for submitting on a web resource.
– £40 for postal submission.
– Up to £300 or more for third-party services.
– Annual fees for company maintenance UK:
– £13 for the validation assertion.
– £500 to £2,000 in accounting levues.
– £50 to £300 for submitting organisation facilities.
Company registration fees comparison UK, it’s evident, the primary business registration cost UK is low, but the continued organisation retaining charges could add up contingent upon the scope and characteristics of your commercial functioning. Opting the right package from third-party providers might enlarge the routine and mitigate the workload for continuous obedience, but it’s vital to compare offerings to discover the cost-effective solution for commercial purposes.
The total cost of company registration in the UK is contingent upon some aspects, comprising the method of enrollment, the model of organisation, and extra facilities you might be demanded. By factoring company registration and maintenance fees UK, you can budget effectively and guarantee your commercial functioning remains obedient with regional supervisions. Careful planning of prices for company formation UK and continued charges would be assured commerce stays on the proper path from the very commence.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.