Today, company registration in England is the best choice of country for working with international partners. Low taxes, the convenience of working with UK Company, ability to open an account in many foreign banks attract clients from all over the world. Because of difficulties in working with offshore companies, we offer you an alternative – registration a company in England.
Company registration in England - 990 EUR
The price includes: company registration services (1 director \ 1 shareholder - one person), Due Diligence of client's documents, verification of the company name, payment of state duty, provision of a legal address for 1 year, corporate documents in electronic form.
Company registration in England - 1590 EUR
The price includes: company registration services (1 director \ 1 shareholder - one person), Due Diligence of client's documents, verification of the company name, payment of state duty, provision of a legal address for 1 year, preparation of a package of corporate documents under the Apostille
The share of small and medium-sized business is an indicator of economic development of the country. This is an axiom for any expert in the field of economics, as active small and medium-sized businesses are an indicator that the country has legislated and established in practice the relationship between business entities and state as a regulator.
How to "support" business? Where and how to find new sales markets and customers?
It's time to think about setting up a foreign company. For most entrepreneurs, two factors are important when choosing a country of registration for a foreign company: that the jurisdiction is prestigious and that the maintenance of a foreign company is not expensive.
IS IT POSSIBLE? Yes, you need to open a company in England. The UK has an impeccable reputation, is a permanent member of the UN Security Council, NATO, the Council of Europe and the OSCE. Registering a company in England will give a sign of prestige to your business. Is it possible to buy a company in England? Yes, let's first consider all the possible options for registering a company in England. These are a limited liability company (LTD) and a limited liability partnership (LLP). These organizational and legal forms of English companies are ideal for opening a company in London.
Registration of LTD Company in England
The name of an English company must end with a word, phrase or abbreviation that indicates the limited liability of the company: for example, "Limited", "Ltd.". The director and shareholder of a company in England can be the same individual or legal entity, and there are no residency requirements. For example, a citizen of Ukraine can be a director and shareholder of an English company individually.
How Ukrainian can start a business in the UK?
If you want to open a company in England, you need to know that English LTD companies are required to maintain and submit an annual financial report, as well as pay taxes based on the results of financial statements. Corporate tax (income tax) in England is levied for a reporting period of 12 months. The date of filing the report is different for each English company and depends on the date of registration of the company.
The rate of corporation tax is 19% for English companies with profits of less than £50,000. The rate of 25% applies to English companies with profits of more than £250,000.
As a rule, English companies need to obtain a VAT number for successfully trading with European partners. A VAT number for an English company can be obtained, but it requires confirmation that the company's taxable turnover has exceeded £85,000. A prerequisite for VAT registration is the provision of information to the tax authorities about the activities of the company and its partners, as well as the provision of supporting documents for VAT transactions. An English VAT company must submit quarterly reports to HMRC. An important aspect of maintaining a VAT number for an English company is to submit complete reports to the tax authorities, as if your company receives a VAT number and constantly submits dormant reports; there is a possibility of revoking the VAT number. The VAT rate is 20%.
EORI for an English Company.
On October 31, 2019, the UK is leaving the EU. Now, in order for your English company to have the right to trade in the EU, the company must have an EORI number. The international EORI system is a unified database of companies engaged in foreign economic activity in the EU, which is used by customs authorities to verify import, export and transit of goods. In connection with Brexit, the EORI number will now be assigned automatically to all English companies with a VAT number. English companies that are not registered as VAT payers will be able to obtain an EORI number on a paid basis on a general basis.
Of course, registering a company in England is a very important step in the development of your business, and if you do not have time to register a company in the UK, you can buy a ready-made company in the UK. The period for preparing of documents for a ready-made English company is 3-5 business days.
Opening an account for an English company
Today, when foreign banks are refusing to open an account for offshore companies or companies with a nominee structure, registering an English company is the most convenient solution. Since the UK Companies House is open to the public, and the data on directors and shareholders/beneficiaries is publicly available, you do not need to wait for the preparation and apostillization of documents to open an account with a foreign bank. Within 1-2 business days after applying for a company registration in England, you can find all the information about the company in the register and apply for an account opening. You will get an English company with a British IBAN. In addition to an account in a payment system, you can apply to any other European bank, since an English company can have unlimited number of accounts. Our specialists will always provide services for opening an account for an English company in a foreign bank.
Registration of an English company LLP - English partnership
The name of the company must end with a word, phrase or abbreviation that indicates the limited liability of the company: for example, "Limited Partnership", "LLP". The partners of an English partnership must be at least 2 partners - individuals or legal entities, there are no requirements for residency or place of registration. An LLP company does not have a director; the company is managed by an authorized partner. An English LLP company is required to submit an annual financial report, and income tax is paid by the partners in whose favour the profit is distributed. The period of registration of an English LLP company is 2 weeks, so you can buy a ready-made LLP company in England.
Today, foreign banks open accounts for English partnerships only if the company does not use a nominee service.
Obtaining the status of a tax resident in England (Tax Residence Certificate)
A tax residence certificate is a document issued by HMRC confirming the company's residence in the country of registration. With this certificate, the company has the right to take advantage of double taxation treaties.
To obtain a Tax Residence Certificate for an English company, you need to:
- have a local director (the director must confirm his/her residence in the UK).
- the company must have a history (it is impossible to obtain a certificate for a newly established company).
- the company must submit full financial statements and pay income taxes.
Is it possible to open a company in the UK that does not have to submit financial statements? The most popular form of company registration in Scotland is the Scottish Limited Partnership (SLP). A company in Scotland is a unique business organization tool that can be an interesting alternative to English companies.
The name of the company must end with a word, phrase or abbreviation that indicates the limited liability of the company - "LP". The SLP Company must have at least 2 partners, who can be individuals or legal entities; there are no requirements for residency or place of registration. One of the partners must be appointed as the General Partner, who is unlimitedly liable for the obligations of the LP and manages the partnership, and in turn, the Limited Partner is liable for the obligations of the LP with his contribution to the partnership, and does not participate in the management of the company. A company in Scotland does not submit an annual financial report if it does not conduct business with UK residents. The period for registering a company in Scotland is 3 weeks, and there are also ready-made companies in Scotland. You can quickly buy a company in the UK, as the paperwork takes 3-5 business days.
Unfortunately, Scottish companies are losing their popularity because they do not submit financial statements and do not pay taxes. The disadvantage of a Scottish partnership is that a Scottish partnership cannot be liquidated. A company in Scotland registered in the form of a partnership can be dissolved by "partnership dissolved", but information about the company is stored in the UK state register for another 20 years.
Today, company registration in Scotland has become irrelevant, since foreign banks and payment systems do not open accounts for Scottish partnerships, preferring English companies that file financial statements and pay taxes.
Who will find it convenient to work with English companies?
Company registration in England is popular among software developers, as well as for registering IT companies. English companies for IT business are an opportunity to work with the largest international companies.
Opening a company in the UK is a convenient and profitable instrument for trading companies, exporters and agricultural traders. In addition, opening a company in England will allow you to work with international investments, any financial instruments and protect your assets.
Liquidation of an English company - Strike off
What to do if a company in England is no longer needed? A company registered in England must be liquidated in accordance with the procedure established by law. The process of liquidating an English company consists of several stages. The liquidation of an LTD company in England must be started by making sure that:
- all financial reports of the English company have been submitted
- the company in England has paid all taxes
- there are no debts to the UK tax authorities and third parties
The director of the English company needs to sign a resolution on the decision to close the company in England, as well as sign and submit to the state register of companies in the UK Companies House, a special form (application for liquidation - DS01 - Striking off application by a company).
After the official publication on the liquidation of an English company appears in the register, a relevant record "First Gazette notice for voluntary strike-off" will appear on your company's page in the register. The standard term for liquidation of an English company is 2 months from the date of this publication.
Please note that HMRC has the right to protest the liquidation process if your English company has debts.
The cost of liquidating an English LTD company is 450 EUR.
We also recommend dissolving SLP, LP, ILP companies in a legal way.
Maira Consult specialists will help you to open a company in England and advise on all issues. We will help you open an account for an English company in a foreign bank or payment system.
