COMPANY SETUP

Limited Company

A standard company registration in Companies House can be arranged even within 24 hours.
The only required document is the director’s ID and proof of address.

The company requires an English, Scottish or Welsh address. The above mentioned together with the name of at least one owner / shareholder (the director and owner in one person is allowed) as well as the purpose of the company being incorporated needs to be indicated. Importantly, from April 2009, there is no need to hire a company secretary, which greatly simplifies the registration process.

Our service includes either standard or express registration and initial consultation, during which we aim to provide answers and resolve any doubts that may arise in relation to the most common issues surrounding an operation of business as a limited company registered in the UK and in accordance with the Company Act 2006.

The main advantages of running a business in the above form include:

Limited financial liability

Shareholders are liable for the company's obligations only up to the amount or value of their share capital rather that with all their personal assets, as in the case of a sole trader.

Credibility in business transactions

The register of financial statements and declarations, the structure of shares and the names of persons involved in the project or benefiting from the business, are made public at Companies House.

Better opportunities for optimization of taxes

Using certain well though through and tested techniques that normally are being reserved for larger enterprises.This includes, among other things, the application of a more extensive and efficient catalogue of administrative expense that can be interpreted as tax deductible business cost.

Less formal requirements

The best example is the lack of a capital minimum requirement or exceptionally flexible rules of exercising power by the company's management board, provided for by British regulations. Not without significance for the company's attractiveness under British law is the fact that the compliance with the above-mentioned rules and the settlement of civil law disputes are exercised and controlled by very efficient courts in Great Britain.

Self-Employed

(Self-employed activity, sole trader)

If we only consider the question of formal duties and requirements set by the HM Revenue and Customs for sole traders, we will come to conclusion that it is undoubtedly the most flexible and straight forward way of doing business in the United Kingdom.

Once the sole trader business activity has been registered with the tax office, we need to account for the NI class 2 contributions on a weekly basis and pay them once a year along with income tax.

The tax liability is reported on the Self Assessment Tax Return that must be completed at the latest 9 months after the end of tax year or accounting period. The current UK tax rates for individuals are as follows; basic at 20%, higher at 40% and additional rate at 45%.

Upon reaching the higher rate, we will review all the circumstances and provide options for tax optimization, such as restructuring the ownership by switching to a Limited Company or a Partnership. There are many other well proven business strategies available that bring tax efficient solutions.

Partnership

(Partnership business)

The registration with tax authorities, as in the case of a sole trader, is relatively straightforward.

In preparation for the Partnership tax return it is required to establish the amount of taxable profit for the period. Then this is shared between partners in accordance with the previously agreed (the partnership agreement) shareholding ratio. Lastly the proportion of profit derived from partnership is being taxed on the individual partners Self Assessment Tax Return.

It is a very specific tax structure recommended and best suited for taxpayers working in professions regulated by hermetically closed corporations such as:

Bussiness Start-Up

If you have a good idea for business but you are not particularly familiar with the current position of regulations and formal requirements, if you would like to learn more about the state aid programs for funds supporting young
and dynamically developing business, make an appointment with one of our advisors.

After getting acquainted with your ideas and needs, we will be able to propose the appropriate support program – start up.

Do you have an idea for a business?

We will conduct the necessary at this stage market research, obtain relevant knowledge and, perhaps most importantly, we will tailor a business plan that bank or institution responsible for allocating funds for the development of your enterprise cannot resist. We will also effectively represent you in any offices in order to obtain all kinds of licenses and permits.

Lastly, do not be concerned about the high costs of consulting. Especially in case of consultations initiating our cooperation, we will not charge you at all. It is only at the next stage, after establishing operating strategy and preparing detailed valuation of our services, we will take on your instructions and ask you to arrange for initial payment.
The fees for our consulting services are normally becoming due after completion of subsequent work stages and follow a predetermined schedule.