- UK Incorporation +
- Business Support +
Great customer service and overall assistance, reliable and fast. Recommended
Date : 02/22/2016
Author : Valgerdur - Luxembourg
GR MORGAN FORMATIONS is specialised in forming any type of UK entities by a tailored made approach and for a reasonable price also giving you the option to choose a ready-made company from our wide range.
Choose and check the availability of your company name in real time by using our online Companies House handy tool; then proceed with the incorporation, which is usually carried out within a few hours, and get your complete company pack straightaway.
With GR MORGAN FORMATIONS you will have your new company structure set up: directors, shareholders, company secretary and registered office, what’s more we provide a nominee service if you prefer
As legal entities, the companies incorporated in the United Kingdom must fulfil several statutory requirements. GR MORGAN FORMATIONS provide the clients with a wide range of services designed to meet all their legal requirements.
Name restrictions: There are a few criteria which rule the choice of the company name which will usually ends in LTD or LIMITED. Such rules involve that any options similar to an already existing company (misleading for the public) or considered offensive by the Companies House will be rejected. Furthermore a special approval has to be requested in case of use of words connected to the Government or Royalty as well as for the following terms: British, International, Holding, Bank, Group, Building Society and Chamber of Commerce.
Memorandum & Articles of Association: The memorandum of a company is the document that governs its conduct by setting up the internal action scheme affecting its own directors and shareholders as well as the rules for its relationship with third parties. It must include the name of the company and the area of the registered office: England, Scotland, Wales or Northern Ireland. Furthermore some information regarding the shares and the authorized capital must be mentioned such as its amount, the classes and number of shares that have to appear.
The Articles of Association encloses important responsibilities of the company members which regulate its the internal affairs.
Directors: The appointment of a minimum of one director is amongst the requirements for a UK private Company whilst the appointment of a secretary is no longer mandatory. From 1st October 2008 all companies whether private or public must have at least one director who is a natural person (i.e. an individual) and who is not under the age of 16 years. The directors, as officers of the company must act responsibly in good faith and in the interests of the shareholders of the company.
Company Secretary: The company secretary is responsible for ensuring the compliance with the statutory requirements. This involves an adequate administration where the statutory records are kept up-to-date and all the yearly regulatory returns are accomplished on time and submitted to Companies House.
Share Capital: UK private limited companies are required to have a minimum of 1 share capital. The denomination of the currency can be in EURO /US Dollar as well as the Pound Sterling.
Registered office: This is the address where the company’s statutory records are retained. It also is the place where the documents can be handed over if needed and accessible for inspection. Although the law does not require it to be the same address as where the activity is conducted, every company incorporated in the UK must have a registered address in the United Kingdom
Audit and annual accounts: Every UK limited liability company, whether trading or not, has to prepare account calculation as per the statutory format which is filed with Companies House and HM Revenue & Customs according to the given deadlines:
Businesses can be considered as “small companies” and then be entitled to an Audit exemption if they have at least 2 of the following features:
If using an Audit exemption there is no requirement for filing individually audited accounts, they will be self-certified by the directors.
It is required to register for VAT when the taxable turnover is more than £82.000
Corporation Tax rate on net profits:
|Small profits rate*||20%*||20%*||20%*||20%|
|Small profits rate can be claimed by qualifying companies with profits at a rate not exceeding||£300,000||£300,000||£300,000||£300,000|
|Marginal Relief Lower Limit||£300,000||£300,000||£300,000||£300,000|
|Marginal Relief Upper Limit||£1,500,000||£1,500,000||£1,500,000||£1,500,000|
|Main rate of Corporation Tax*||26%*||24%*||23%*||21%*|
|Special rate for unit trusts and open-ended investment companies||20%||20%||20%|
The limited company’s area of incorporation and name, registration number and registered office address must be clearly shown on a range of documents such as: business letters, invoices, orders, receipts and written demands for payment. The directors’ names do not have to be displayed (except in the content of a letter or as a signatory), but if one does then all of them must appear.