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Limited Company in UK comes with its own pros and cons which is very important for decision making purposes
Process
Select a unique name for your Limited Company that complies with UK Government naming requirements.
Appoint at least one director and optionally a company secretary.
Provide a registered office address in the UK where official correspondence will be sent.
Prepare and agree upon the company's governing documents, the Memorandum and Articles of Association.
File the incorporation documents with Companies House, including Form IN01.
Register the company for Corporation Tax with HMRC within three months of starting business.
Following are the Compliances that will be required
Limited Companies are subject to Corporation Tax on their profits. The current Corporation Tax rate is 19%.
Limited Companies must file annual accounts and a confirmation statement with Companies House.
If the company's turnover exceeds the VAT threshold, it needs to register for VAT and comply with regular VAT filings.
Companies must register as an employer with HMRC and operate PAYE to collect Income Tax and National Insurance contributions.
Following are the documents that will be required
Copies of passports or driving licenses of directors and shareholders.
Copies of utility bills or bank statements showing the address of directors and shareholders.
The service package includes a comprehensive list of deliverables which includes the following.
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