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According to the Companies Act, one or more individuals are able to set up a company, as long as its scope is not illegal, by subscribing to its memorandum of association. At least two subscribers will be necessary for a public company or an unlimited company.
Ready-made companies are provided by offshore company formation agencies such ours, GR MORGAN FORMATIONS. If instead, you wish to setup a company on your own, you will have to submit the following documents to the Registrar of Companies:
• A memorandum of association – includes the company objects, its name and the registered address.
• Articles of association - which rules the company’s internal affairs.
It is the address provided to Companies House to which all mail and official communications will be delivered. It can be in any location, as long as it's in the country your business is registered. The registered address must be a valid address for sending documents; responsiveness in dealing with all the post received is crucial in order to prevent delays and penalties.If your company's registered office is moved somewhere else, Companies House must be notified immediately.
It is important for every business to formally appoint officers.
The minimum structure required for a private company is:
• One director, although more than one can be required depending on the terms of the articles of association;
• One shareholder, a Private Limited Company is limited to 50 shareholders;
• One secretary, no formal qualifications required. The sole director of a company cannot also be the company secretary.
The minimum structure required for a public company is:
• Two directors
• One secretary, whose formal qualifications are required
A company officer's responsibilities in the eyes of the law are wide ranging. Companies House must be informed about:
• The appointment of a new officer.
• The resignation of an officer.
• Any kind of changes in the company officers’ details such as address and name.
Yes, but there are some regulations to follow. A person can’t take on that role in a company if:
• They are un-discharged bankrupt or disqualified by a court from holding a directorship, unless given leave to act in respect of a particular company or companies.
• In the case of PLCs, if their age is over 70 or is already 70 during the office period, unless he/she is appointed or re-appointed by resolution of the company in a general meeting for which a special notice has been given.
• Companies of Wales and England have no restrictions on the minimum age limit under the Companies Act to appoint a director. Alhough it is required that they should be able to consent to their own appointment. Legal assistance should be considered in case you intend to have a very young person as a director of your company. In Scotland no registration will be carried out if the prospective director’s age is below 16.
• According to the age of Legal Capacity (Scotland) Act 1991. , some non British citizens are prohibited from some types of work they may consider during their stay in the country. If you wish to learn more about whether such people can join as a director of registered companies of the UK, contact the Home Office Immigration and Nationality Department.
The company documents are subject to thorough inspections, including checking all prospective officers against the Disqualified Directors' Register.
You'll be able to verify the availability of the name you have in mind on the search tool on our home page. If the tool tells you the company name you've selected is registrable, then you may proceed with the incorporation. If the name is not available, you might have to modify/change your original choice. Ideally, you should have a few names in mind, as to avoid disappointment. The name of your company cannot be reserved and applications for formation are not processed strictly in order of time or date of receipt.
If Companies House gets more than one application with the same company name, only one will be considered. The other will be rejected. There are no guarantees about which application will be processed first; generally applications sent through the electronic procedure are quicker than the ones sent on paper.
From 6 April 2016 companies, LLPs and SEs need to keep a register of their 'people with significant control'. Failure to provide accurate information and to comply with notices requiring information are criminal offences, and may result in a fine and or a prison sentence of up to two years. A Person of Significant Control (PSC) is anyone that exerts a significant influence or control over a company.
Yes, if your believe your sales for the first year will be £83 000 and over, your company will have to be registered for VAT.
The legalization is the process of authenticating or certifying a legal document in order for a foreign country's legal system to recognise it as valid and with full legal effect. You can get a UK public document ‘legalised’ by asking the UK government to confirm that a UK public official’s signature, seal or stamp on the document is genuine.
A UK limited company is an independent entity whereas a UK agency is a structure which serves to aas an agent for an offshore company.
The minimum authorised share capital for UK companies is £1 or its equivalent in any other currency.
The process of dissolution of a company can happen when your company has stopped trading. The main steps are: - You close down your company's bank accounts; - The last accounts need to be filed with Companies House and HMRC; - Any taxes owed, must be paid; - Fill out and send the striking off application to the authorities.
Yes, you can. Many people based all over the world have a business in the UK.The company will be UK tax resident regardless from where the officers are based and from where the business is taking place.If you have any questions about how this can be done, feel free to contact us and we'll be more than happy to guide you through it.Contact us to book your free phone consultation!
A private company limited by shares is a company that has shareholders with limited liability and shares that cannot be offered to the general public. Limited by shares means that the liability of the shareholders is limited to the capital they originally invested. This means that in case of insolvency of the company, the shareholders' private assets are protected but the money he invested at the beginning will be lost.
A private company limited by guarantee is an entity used mostly for non profit organisations. This entity does not usually have a share capital or any shareholder, but has members who act as guarantors. At the incorporation or when a member is added, he has to indicate an amount (amount guaranteed) he will be liable for. The guarantee is legally binding while the guarantor remains a member and for one year after he or she ceases to be a member.
Yes, it is possible to allocate more shares at any time.
Off the shelf companies are also sometimes called ready made companies. There are different types of ready made company, some older, some newer, some with specific activities that may be pertinent for our business.If you're looking for an easy and quick option to have a company which is already active, shelf companies are the right choice.Ask us about our wide range of ready made companies, we'll help you find the right option for you.
There is no legal requirement to have a company secretary. However, a company may still choose to have one. Anybody can act as the Company Secretary of an LTD. A person may also consent to act as both the Company Secretary and Director of the same company.
One of the main obligations a company has is to pay tax. With a 20% corporation tax rate, the UK already offers the lowest of any G20 country, not only that but it currently plans to bring it down to 17% in the near future. Companies can also claim a corporation tax rate of just 10% when it comes to patented inventions and certain types of innovations. The VAT is currently 20%, but you might also benefit from tax credits for research and development.
This happens occasionally and it's typically as a result of an inappropriate name choice or it may be due to the lack of information on your application.
Don't worry though, these issues are fairly straightforward and can be resolved in a matter of minutes.
Our team is always available to help, feel free to leave us a message or give us a call.
Yes, upon payment, you will be asked to provide a scanned cop/picture of your photographic ID and proof of address (utility bill or bank statement).
We will send you an email (once you'll complete your order) in which we'll explain in detail what types of documents we accept.
If you require further information, feel free to contact us and we'll be more than happy to answer your querie.
Yes, the same address can be used as both the director's service address and also the workplace one.
After your company is incorporated, we will send you the documents as per your preference (digitally or the printed version via post).If you want to get the corporate documents documents notarised or apostilled, let us know and we'll get it done for you.
No, the Companies House fee is included in our price.
HMRC stands for Her Majesty's Revenue and Customs. HMRC is responsible for the collection of taxes, whilst Companies House is the Registrar of Companies, which means it is responsible for the incorporation and dissolution of companies as well as the keeper of all company registers.Both entities are extremely vital for all companies and all correspondence from them must be treated with the utmost importance and must never be ignored.