Dear Valued Clients,

Our company has undergone a consolidation with OCH Ltd. (www.offshore-companies.co.uk).

We will continue to serve you with the usual high standard, and same competitive prices.

UK Company Registration and Taxes

A significant task after UK company registration is to ensure that it is compliant with tax and information filing requirements. Our company or our partners are here to guide and assist you on the way, so you can focus on running your business. Please refer to company formation UK Pricelist for your Accounting Services.

It is worth noting that ‘UK Companies House Register of Shareholders, Secretary, Members and Directors’ is open to the general public and therefore if preservation of your confidentiality is of concern to you, we advise to use nominee services for the Directors/Shareholder/Secretary during company formation in UK. Most of our clients opt for all Nominee Services for this reason.

UK Company Nominee Shareholder Services

Nominee Shareholder will issue the Declaration of Trust to the Beneficial Owner of the company (you). The underlying investors (you) have the beneficial interest in the shares, therefore are entitled to all income and capital gains derived from the investment. When the company makes a dividend payment, the beneficial owner (you) would need to declare it on his personal Income Tax return in the country of residency and pay the taxes in his own country. Nominee Shareholder services do not cover completion of your own personal tax return.

UK Company Nominee Director Services

We offer the nominee director services (at our discretion) after we have received payment and completed our due-diligence, (i.e. check before incorporating a UK company) if nominee director services are required. You will receive a full due-diligence pack and instructions upon receipt of your order and payment. It will include:

  • Proof of Identity
  • Proof of residential address
  • Professional Reference Letter
  • Notarised Indemnity Letter
  • Beneficial Owner Declaration

The Nominee Director will issue an undated Resignation Letter and will not be managing your company and will not be signatory on your bank account. The underlying investors have the beneficial interest in the shares, therefore are entitled to all income and capital gains derived from the investment.

UK Company Nominee Secretary Services

Although there no legal requirement to appoint a designated secretary for a UK company, such duties still exist and fall on the directors of the company. Nominee Director is not responsible for secretarial duties. Therefore most of our overseas clients choose the company secretary option to gain a peace of mind that they are compliant with the UK legislation. The duties of a Company Secretary include:

  • Maintaining the statutory register
  • Informing the Companies House of the change of ownership
  • Ensuring the Company files annual accounts and returns on time
  • Making the records available for inspection by authorities, if requested

This service can be added whilst filling our company formation form. Needless to say that most of our clients find this service invaluable to them.

UK companies (Ltd as well as LLP) are required to submit their annual returns to Companies House annually. The legal return date is usually the anniversary of either:

  • the day the company formation
  • the made-up date of the previous annual return kept at Companies House

UK Company directors — and the company secretary, if one is appointed — are responsible for filing their company’s annual return within 28 days of the legal return date.

It is part of a Company Secretary Services our company offers, which can be added to your order during UK company formation.

Below is just an overview of UK taxes and compliance requirements you need to consider after company registration. UK remains one of the lowest tax jurisdictions in EU.

UK Company Corporation Taxes

UK Companies are charged Corporation Tax at the rate of 20% for annual profits under £300000 and 24% for annual profits over £300000 (from April 2012, The rate will then be reduced by a further 1% in each of the following two years, and as a result will be 22% from April 2014).

The company is required to send its completed tax return, accounts and tax computations to the Inspector by the filing date, which is 12 months after the end of its accounting period. Penalties will be charged if it is late.

UK Company formation and Personal Income Taxes

You will need to complete a self assessment if you are director of a UK company, partner in a UK partnership and trading in the UK or non-resident landlord, even if you are a non-resident in the UK. If you have income derived in the UK, this income generally remains liable to UK tax.

You will need to complete a Self Assessment tax return each year (runs from April 6 till April 5). We can refer you to our partners to assist you with this, if you take up Accounting Package

The personal income tax rates for tax year 2012/13 are below, but they will change from 2013/2014 (Additional tax rate will be reduced to 45%):

 Tax rateTaxable Income Bands
Basic 20% £0-£34,370
Higher Rate 40% £34,371-£150,000
Additional rate 50% Over £150,000

Registration with tax authorities after UK company registration

You need to notify to HM Revenue & Customs of company commencement and completion of HM Revenue & Customs standard enquiry form for both active and dormant companies. Potentially, you would need to establish a PAYE Scheme to enable Directors/Employees to be paid.

If you expect your taxable turnover to exceed £77,000 (2012) you also need to register for VAT.

We provide the above as a separate service; please add it to your UK Company Formation order.