Company Formation

UK Company Formation – for UK residents

 

Our company provides full bookkeeping services and company formations for UK companies.

We carry out the company formations through Companies House.

Contact our colleagues for a free company formation consultation. Contact them here.

If you incorporate your company with us, or we do the bookkeeping for your company, on our internal website you can track your deadlines, can check your company’s main data and see the company’s letters, that we upload. It is currently under development, it will be available again soon.

We will notify you of these deadlines through e-mail regardless, but this way you can check this information anytime.

We aim to offer one of the most competitive prices on the market of company formation and bookkeeping to make it available to more businesses.

UK Company Formation – for foreign residents

Being Hungarian professionals – trained in UK – we have 10 years of experience in international matters, and managing companies with foreign resident directors.

Contact our colleagues for a free company formation consultation. Contact them here.

If you wish to incorporate and manage your business from outside of UK, there is one important thing that you should consider before forming your company. Will your company and its activities be linked to a foreign establishment? By permanent establishment, we do not just mean warehouse or site. According to Act of CXLIV of 2011 (downloadable under the Documents in the menu) you are required to declare the following, among others, as permanent establishments:

  • a place of  management
  • a branch
  • a office
  • a factory
  • a workshop, etc.

 

Order your UK company now through the following page:

 

ARTICLE 5

PERMANENT ESTABLISHMENT
(1) For the purposes of this Convention, the term “permanent establishment” means a fixed place of business through which the business of an enterprise is wholly or partly carried on.
(2) The term “permanent establishment” includes especially:
a) a place of management:
b) a branch
c) an office:
d) a factory:
e) a workshop: and
f) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources. 

If it is declared as a permanent establishment in a foreign country, the business most likely must be taxed in that country. 

If the place of management or the office is not linked to a foreign country, meaning you can operate your business via the internet or phone, or you have a contract with a foreign entrepreneur/individual to handle foreign matters, then the place of management will be the registered UK address. In that case, the UK company form was made for you.

 


What are the prerequisites for setting up a Ltd?

A UK company can be formed by any natural person regardless of nationality and with a minimum share capital of £1.

From which fields do our clients come most often?

  • IT providers
  • internet traders
  • companies trading in the EU
  • advisors
  • interpreters
  • businesses selling their services and software online

What are the main advantages of a UK company?

  • Very favourable taxation in a prestigious environment
  • Safe environment for business activities

 

The key points of UK taxation in the current 2020/2021 tax year

  • 19% corporation tax rate
  • No hidden corporation tax 
  • Below annual 12,570 GBP the Personal Income Tax is nil, above that it is 20 % ( until about 50,000 GBP)
  • Flexible cost accounting rules
  • Low, 20 % VAT rate
  • A VAT number can be requested
  • Vat registration is mandatory above 85,000 GBP annual income

 

Most common types of companies:

 

Private Limited Company (Ltd.)

  • Shares can be listed only off the stock exchange market
  • Minimum share capital of £1 

Public Limited Company (Plc.)

  • Shares can be listed on or off the stock exchange market
  • Minimum share capital of £50,000 

Limited Liability Partnership (LLP)

  • A partnership of self- taxing persons
  • The members declare and pay their taxes on their own Tax Returns based on their ownerships of shares.

 

Our company deals with the incorporation and full bookkeeping of LTDs and LLPs.

 


 

Information regarding the incorporation of Private Limited Companies (Ltd): 

The minimum amount of share capital is just £1. That amount can be paid into a bank account or stored in petty cash. The owners are liable for their personal assets to this extent. It can be a one-man company, where the director and the owner are the same person.

 

Owners

  • The company can be incorporated even with one person
  • The owner can be a foreigner without limitation
  • The owner can be a natural or a legal person

Officers

  • At least one executive director must be appointed
  • The director has to be a natural person
  • Appointing a secretary is not mandatory (It is advised in the case of big corporations. Once appointed, the secretary is responsible for, among other things, maintaining the company’s registered office, conducting the company’s meetings, preparing the Annual Returns, etc.

 

 Order your UK company now via the following page:

THE FOLLOWING ARE NOT PERMANENT ESTABLISHMENTS :

PERMANENT ESTABLISHMENT

(3) A building site or construction or installation project constitutes a permanent establishment only if it lasts more than twelve months. 
(4) Notwithstanding the preceding provisions of this Article the term “permanent establishment” shall be deemed not to include:
(a) the use of facilities solely for the purpose of storage, display or delivery of goods or merchandise belonging to the enterprise;
(b) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage, display or delivery;
(c) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of processing by another enterprise;
(d) the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise, or of collecting information, for the enterprise;
(e) the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any other activity of a preparatory or auxiliary character;
(f) the maintenance of a fixed place of business solely for any combination of activities mentioned in sub-paragraphs (a) to (e), provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory or auxiliary character. 

Choose the company formation package that suits you the best: Free, Home Office, Starter Plus or Dormant package

If you need help choosing, please do not hesitate to contact us. 

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