FAQs

A limited company is a very common form of running a business. It is very beneficial for its shareholders. The easy registration process keeps attracting more and more entrepreneurs.

Capital brought in and financial liability
Shareholders are liable only to the amount of capital they bring into the company. Their personal assets are not included. There is no required minimum amount of capital that you need to have to set up a company which is a great benefit, however, it is common practice for the share capital to be £1000. This amount is only declared by the company owner, who does not have to physically have it. There is no need to transfer this amount to the company’s bank account.

Requirements for limited company formation.
The director can be any natural person who is over 16 or another company. The company also needs to have at least one shareholder. This is why the director will also have to be the sole shareholder or one of the shareholders. The description of the company’s activities does not need to be long or specific - a general summary will suffice. 

There are very little formalities when it comes to incorporating a limited company. There is no minimum contribution required. There is also no requirement to provide a detailed description of what your new company does. 

We have extensive knowledge and experience in tax and accounting. We have been based in London for over 20 years. We approach each client with professionalism and make sure we offer them effective help on many levels. 

We have a team of specialists
Our team of experts is up to date with the latest regulations and their amendments. We are a friendly company and we make setting up and running a company as simple as possible.

If you run your business in the UK, we can help you recover your income tax. We will make the process more efficient and quick, and we will take care of all the formalities. We will also recommend the best solutions for your business. We can help you apply for benefits. We will make it easy for you to gather all the necessary documents, required forms and we will advise you what criteria you need to meet to be entitled to benefits or pension.

Limited Liability Company in the UK
Setting up a limited company in the UK is relatively quick and this is one of the reasons why a lot of people choose to run this type of business. Also, there are only few formalities involved, which makes the process quicker. 

Limited company formation timeline
Depending on your needs, the company formation can take between 1-7 days. For urgent requests, we can offer a priority service and arrange formation on the same day when the necessary documents have been filed. With the economy option, it will still be very quick - up to 7 days.

Priority and economy option - price difference.

No, you don't have to physically be in the UK to form a company. However, there are a few restrictions you need to consider when choosing to set up this type of business.

First of all, your company must be registered in the UK. It is crucial that its registered address is in the United Kingdom. You can run your company while being abroad, but you can’t have any premises there such as offices or a plant. In such case, you’d have to keep your accounts, file your tax returns and pay your taxes in the country where you have your business premises.

Basic taxes

As an owner of a company, you are obliged to complete Company Corporation Tax Return every year. It is also your responsibility to pay Corporation Tax within nine months from the end of the financial year. For both companies that earn up to £300,000 profit and large companies with profits of more than £1.5 million the tax rate is 19%. Let's not forget about the VAT which in the UK amounts to 19%. You don’t have to be VAT registered unless your turnover exceeds £85,000.

Employment costs
20% applies to personal tax. You will be obliged to pay this type of tax if you decide to employ someone. On top of that, you will also be paying national insurance contributions.

Taxes and accounting
Getting your head around taxes is not easy, we know it. So if you prefer to have our experts take care of your company's accounting, get in touch with us. We will be happy to answer all your questions and provide a free of charge quotation for the service.

The basic costs related to company formation consist of a few elements. The first thing you’ll need to pay for is the registration fee. The costs of registration starts from £100. Other costs of starting a limited company are quite broad and depend on a number of factors.