Published
Sep 4, 2023
Updates:
Sep 19, 2024
United Kingdom
Price:
Delivery:
Legal forms:
Payment methods:
3 months
LLP, LTD, PLC
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
United Kingdom
$
1500
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Location
Capital
Official languages
Population
Currency
ISO 4217
London
United Kingdom
English
67,736,802
GBP
Pound Sterling
Delivery
-
Certificate of incorporation
-
Articles of association
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Meeting minutes
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Company stamp
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Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in United Kingdom
FAQ for Company Formation in the United Kingdom:
1. What are the different types of companies that can be formed in the UK?
The main types of companies that can be formed in the UK are private limited companies (Ltd), public limited companies (Plc), and limited liability partnerships (LLP).
2. What is a private limited company (Ltd)?
A private limited company (Ltd) is a legal entity that is separate from its owners. It is limited by shares, meaning that its shareholders' liability is limited to the amount they have invested in the company. The company's shares are not available for sale to the general public.
3. What is a public limited company (Plc)?
A public limited company (Plc) is a company that is allowed to sell its shares to the public. The shareholders' liability is limited to the amount they have invested in the company.
4. What is a limited liability partnership (LLP)?
A limited liability partnership (LLP) is a partnership in which each partner's liability is limited to the amount they have invested in the business. This means that the partners are not personally liable for the company's debts.
5. What are the requirements for setting up a company in the UK?
To set up a company in the UK, you will need to register with Companies House, the UK government's official registrar of companies. You will also need to provide details of the company's directors, shareholders, and registered office address.
6. What are the advantages of setting up a company in the UK?
Setting up a company in the UK has several advantages, including limited liability, tax benefits, and access to a highly skilled workforce.
7. What are the tax implications of setting up a company in the UK?
The tax implications of setting up a company in the UK will depend on the type of company and the nature of its business activities. Companies are required to pay corporation tax on their profits, and directors may be subject to personal income tax on their salaries.
8. How long does it take to set up a company in the UK?
It usually takes around 24 hours to set up a company in the UK, although this can vary depending on the complexity of the registration process.
9. What are the ongoing obligations of a UK company?
UK companies are required to file annual accounts and annual confirmation statements with Companies House. They are also required to maintain accurate records and comply with all relevant laws and regulations.
10. Can I set up a company in the UK if I am not a UK resident?
Yes, it is possible to set up a company in the UK if you are not a UK resident. However, you will need to appoint a UK resident director and provide a UK address for the company's registered office.
The United Kingdom has a strong and diverse economy, with a GDP of $2.83 trillion in 2020. It is the fifth-largest economy in the world, and the second-largest in Europe. The UK has a highly developed services sector, which accounts for 79% of its GDP. The manufacturing sector contributes 11%, while the agricultural sector contributes just 1%. The UK is a major exporter of goods and services, with exports totaling $621 billion in 2020. The UK is also a major importer, with imports totaling $717 billion in 2020. The UK has a strong and stable currency, with the British pound being one of the most traded currencies in the world. The UK also has a strong financial sector, with London being one of the world's leading financial centers. The UK has a highly educated workforce, with a literacy rate of 99%. The UK also has a strong infrastructure, with a well-developed transportation network and a reliable energy supply. Overall, the UK has a strong and diverse economy, with a GDP per capita of $44,890 in 2020.
Taxation in the United Kingdom:
Corporate Tax:
- The corporate income tax rate in the UK is currently 19% for all companies.
- Companies are required to file annual tax returns and make payments based on their profits.
Personal Income Tax:
- The UK operates a progressive income tax system with varying tax rates depending on the level of income earned.
- The current tax rates range from 20% for basic rate taxpayers to 45% for additional rate taxpayers.
- There is also a tax-free personal allowance available to all taxpayers, which is currently £12,570 per year (2021/2022 tax year).
Value-Added Tax:
- The value-added tax (VAT) rate in the UK is 20%, with certain goods and services being exempt or subject to a reduced rate of 5% or 0%.
Tax Payment and Calendar:
- The UK tax year runs from April 6 to April 5 of the following year.
- Companies are required to file tax returns and make payments based on their profits within 9 months and 1 day of the end of their accounting period.
- Individual taxpayers who are employed or receive a pension through the PAYE (Pay As You Earn) system have their taxes automatically deducted from their paychecks.
- Self-employed individuals and other taxpayers who are not subject to PAYE are required to file a self-assessment tax return by January 31 following the end of the tax year and make payments based on their income and other sources of taxable income.
The UK tax system is complex and subject to frequent changes. It is recommended to consult with a tax professional familiar with the specific circumstances in the UK for personalized advice on tax matters.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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