United Kingdom Companies

United Kingdom Companies

The United Kingdom, which consists of England, Scotland, Wales and Northern Ireland, lies off the Western Coast of Europe. It has a total landmass of approximately 241,590 sq km.

Principal Corporate legislation

Companies Act 1985(As amended). The Income and Corporation Taxes Act 1988.

Corporate feature of UK companies

GENERAL

Type of Company


Political Stability


Common or Civil Law


Disclosure of Beneficial Owner


Migration of Domicile Permitted


Tax on Offshore Profits


Language of Name

Private Limited


Excellent


Common


Owner No


No


Yes


Latin Alphabet

CORPORATE REQUIREMENTS

Minimum Number of Shareholders


Minimum Number of Directors


Bearer Shares Allowed


Corporate Directors Permitted


Company Secretary Required


Standard Authorised Share Capital

One


One


No


Yes


Yes


£ 1,000

LOCAL REQUIREMENTS

Registered Office/Agent


Company Secretary


Local Directors


Local Meetings


Government Register of Directors


Government Register of Shareholders

Yes


Yes


No


No


Yes


Yes

ANNUAL REQUIREMENTS

Annual Return


Submit Accounts

Yes


Yes

UK COMPANY FORMATION

London Registry

As long as a client is prepared and able to wait for seven days a “custom-made” new UK company formation may not only be preferable but also more economical. Custom-made companies are set up with a client’s own choice of name (subject to availability) and with the required share capital.

The intended situation of the registered office can be stated from the outset. Clients can be named as the first director and secretary.

Procedure to incorporate

Submission of Memorandum of Association, Articles of Association, Declaration of Compliance and Statement of the First Directors and Secretary and notification of the situation of the Registered Office with the requisite fee to Companies House.

Powers of company

Company incorporated in the United Kingdom has the same powers as a natural person.

Language of legislation and corporate documents:

English.

Time to incorporate

Ten to fifteen working days

Registered office required

Yes, must be maintained in the United Kingdom.

Disclosure of beneficial ownership to authorities:

No.

Authorised and issued share capital

Private Company – The minimum issued capital is one share, but further capital is usually issued to reflect the stability and strength of the company. A private company is normally incorporated with an authorised share capital of £ 1,000.

Classes of shares permitted

Ordinary shares, preference shares, deferred shares, redeemable shares and shares with or without voting rights.

Bearer shares permitted:

No.

Double taxation agreements

The United Kingdom is party to more double tax treaties than any other sovereign state.

Financial statement requirements

All UK Companies are required to file accounts with the Registrar of Companies. There is an exemption given in favour of limited liability companies where they have a small turnover, which is defined as being below £ 350,000. In those circumstances the directors must self-certify the accounts without the requirement to have a formal audit.

STRUCTURE OF MANAGEMENT

Directors

Private Companies – One. They may be natural persons or bodies corporate. They may be of any nationality and need not reside in the United Kingdom.

Company secretary

A company secretary must be appointed. The company secretary may be a natural person or a body corporate. They can be of any nationality and need not reside in the United Kingdom.

Shareholders

Private Companies – the minimum number of shareholders is one.

Important note :

International tax planners are able to utilise UK structures to minimise taxation for international business.

To learn more information about Company formation in UK then use this form to contact us