Blog Startupr - incorporate, register and form your company online

United Kingdom

Sep 15 2011

Incorporation, post-incorporation and accounting in UK

Incorporation, post-incorporation and accounting in UK

Hello! If you have thought about to open up a company in UK and have been scared about the accounting. Don’t worry, Startupr can secure whole process of incorporation, post-incorporation as well as accounting!

 

We can divide whole process of company formation into 4 parts:

 

Incorporation (company formation)
– formation of the company
– address registration (Startupr’s)

 

Post-incorporation
– maintenance of statutory book
– filling of annual returns
– apostille

 

Accounting
– VAT Registration
– PAYE Registration
– EORI Registration (required for clients engaged in import and export of goods)
– Year end accounts and Corporation tax returns preparation
– Book keeping and VAT returns for businesses with up to £150,000 turnover

 

Additional services (e.g.)
– change of the company name
– Change of Company Name with update of original Mem & Arts
– Full review and update by adoption of new Mem & Arts
– Increase, Decrease, Sub-Division or Consolidation of Share Capital – One share class only
– Removal of a Director
– etc.

 

Please do not hesitate to contact us should you have any queries.

By • United Kingdom • 0 • Tags:

Sep 2 2011

When and How to register for VAT in UK

Singapore - Tax resident or non-resident?

What is VAT?
VAT – Value Added Tax is a tax business charge between supplier and customer when supplier supply his goods and services in UK.

 

When to register for VAT
There are a few section which will help you to distinguish which category you suit to. For each of the case there is different rules.
Please kindly chose one of those and find our more on HRMC webpage.
– You are doing business in the UK, or intend to
– You supply goods or services to the UK from abroad, or intend to start
– You supply goods or services from the UK to other countries
– You supply goods or services from another country to another country through UK

 

How to register for VAT
You have several choices one of them is to use our service once you opening the company or visit HMRC webpage for further information.
Which form you use and the number of forms you will need to complete will depend on a few particular circumstances. Online HMRC Service.

 

VAT and International Trade
Visit HMRC webpage for further information on VAT and International trade here.

 

VAT and Internet services
Visit HMRC webpage for further information on VAT and Internet services here.

 

Rates of VAT

Rate of VAT Another term Taxable Supplies
17.50% Standard Rate most of the goods and services
5% Reduced Rate renovation and alteration of dwellings etc.
0% Zero Rate newspaper, books, most food(not meals) etc.*

*Click here to find out more about exempt goods and services.

 

For more information on When to register for UK VAT visit HM Revenue & Customs here.
For more information on Where to register for UK VAT visit HM Revenue & Customs here.

By • Tax, United Kingdom • 0 • Tags: ,

Aug 10 2011

UK Limited Company – Corporation Tax

Singapore - Tax resident or non-resident?

– company incorporated (resident companies) in the UK (or Foreign) is subject to corporation tax at prevailing rates on their worldwide income (capital and ordinary income)
– company being recognized as a branch (non-resident company carrying on a trade in the UK) is taxed on the income of a branch carrying on a business in the UK and on United Kingdom sourced investment income.
– if you nominate yourself as a director, you will need to pay tax on your salary (subject of all incomes derived from company – benefits in kind, dividend income and other income) and operate PAYE and National Insurance.
– from April 2011 – for accounting periods after 31 March 2010 – all Company Tax Returns must be filed online and payment proceed electronically.

 

Once you set up Limited Company:
– inform HMRC about your activity (form CT41G) this form you can find: www.businesslink.gov.uk/ct/start-a-company
–  tax return is supposed to be completed of the end of the accounting period. fill it online at: www.businesslink.gov.uk/ct/online
– fill and pay the corporation tax
– operate PAYE for employee’s as well as for directors’s income

 

Corporation Tax
– pay your Corporation Tax before the deadline to file your Company Tax Return

 

e.g. Lets say your company’s financial year began on 1st of April 2011 to 31st of March 2012, and your accounting period is the same than you have to pay your Corporation Tax for that period by 1st of January 2013 and file your Company Tax Return for that period by 1st of April 2013.

 

Bear in mind, it’s your responsibility to fill and pay all tax returns on the time. Many people choose to use an accountant in order to manage this. You might get a basic help at businesslink.gov.uk.

 

Corporation Tax Rates
Taxable Profits Year 2011
Profit not exceeding £ 300,000 20%
300,001  – 1,500,000 Margin relief fraction 3/200*
On profits over $ 1,500,000 26%

* How to calculate marginal relief please visite HMRC.

By • Tax, United Kingdom • 0 • Tags: ,

Jun 29 2011

Start your business in United Kingdom

Start your business in United Kingdom

A few reason why to start a business in UK

  • inexpensive filing fee, incorporation in 24 hours
  • simple, easy and straightforward a business incorporation
  • prestige solution for international companies or for startups
  • the United Kingdom is party to more double tax treaties than any other sovereign state
  • top trading and financial center
  • one of the most efficient jurisdiction where you can start your business

Every Startup is supposed to be efficient in every step you take. One of the first consideration might be where in EU to incorporate your future company. It will be worth to investigate before you make a decision. Here are a few sources where you can start read a little bit about UK business environment:

 

For incorporation your British company visit startupr.com

By • United Kingdom • 0 • Tags:

Jun 28 2011

Order form United Kingdom FORMATION OF BRITISH LIMITED COMPANY

United_Kingdom_Order_Form.doc

 

Here is an order form – Limited Company in United Kingdom. Simple steps to incorporate;

1) download form

2) fill in all requested info

3) accomplish payment

4) get your company

filled order form send by fax +1 (213) 291-2176 or scan by e-mail to tomas[at]startupr.com

By • United Kingdom • 0 • Tags:

Jun 24 2011

What is annual return or list?

Annual list or Annual return is required by local government every year in order to have an overview in regards to additional changes stated under the state ordinance during the year. For some jurisdiction it’s just only way how to keep database updated  yearly ( e.g. State of Nevada). For some other jurisdiction it’s obligatory to report every changes rising during the year by some other forms (particularly for every changes you need to fill different form) and additionally the same change report in annual return . These changes are defined as change of address, director, shareholders, business name, business address, shares, company secretary etc.

 

Hong Kong
– the Annual Return must be filed once in every calendar year (except in the year of its incorporation) within 42 days of the anniversary of the company’s incorporation date.


Nevada
– the Initial List MUST be filed on or before the last day of the first month following incorporation/initial registration. The Annual List MUST be filed by the last day of the anniversary month of the original filing. Example: If the entity filed on Oct. 15, 2002, the list must be filed by Oct. 31 of each year. Postmark date is not accepted as receipt date in the Secretary of State’s office.

 

It is the responsibility of the directors of the company to ensure that the initial and ongoing compliance requirements are met with.

 

An annual return must contain the following information:

  • the name of the company;
  • its registered number;
  • the date to which the annual return is made-up (the made-up date);
  • the principal business activities of the company;
  • the type of company it is, for example, private or public;
  • the registered office address of the company;
  • the address (single alternate inspection location – SAIL) where the company keeps certain company records if not at the registered office, and those records held there;
  • the details of the company secretary (corporate or individual), where applicable; and
  • the details of all the company’s directors (corporate or individual).

By • Hong Kong, Incorporation rules, United Kingdom, USA • 0 • Tags: , , ,

1 2