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United Kingdom

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: , , ,

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