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Digital Company Formation

UK Managed Limited Companies

Tax Mitigation Jurisdictions

Synopsis:

UK Managed Companies, despite being relatively expensive to set up and maintain, are very popular with those seeking to avail of the UKs relatively low corporate tax rates and extensive double taxation treaty network. SCF Legal & Corporate Management Services Limited, the mother Starting my Business, can provide a qualified accountant as the company secretary, full trading account and administrative services from its London headquarters.

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Location

Situated to the east of the Republic of Ireland and north of France.

Country Facts

As the dominant industrial and maritime power of the 19th century, the United Kingdom of Great Britain and Ireland played a leading role in developing parliamentary democracy and in advancing literature and science. At its zenith, the British Empire stretched over one-fourth of the earth's surface. The first half of the 20th century saw the UK's strength seriously depleted in two World Wars and the Irish republic withdraw from the union. The second half witnessed the dismantling of the Empire and the UK rebuilding itself into a modern and prosperous European nation. As one of five permanent members of the UN Security Council, a founding member of NATO, and of the Commonwealth, the UK pursues a global approach to foreign policy; it currently is weighing the degree of its integration with continental Europe. A member of the EU, it chose to remain outside the Economic and Monetary Union* Population: 60,609,153 Size:241,590 sq km.

Advantages of UK Managed Limited Company

  • The UK has some of the one of the lowest corporate tax rates in Europe
  • Highly advanced Corporate Law
  • Similar laws and way of life to both the US and Ireland
  • Limited Companies can be formed in as little as 3-5 hours.
  • Excellent Double Taxation Treaty Network .
  • Highly Respectable
  • Excellent communications

Taxation

  1. The fastest growing large country in the EU
  2. Companies need only one director. A director can be an individual or corporate entity. Details are on public record.
  3. There are no nationality requirements for officers and shareholders.
  4. There must be at least one shareholder. A shareholder can be a corporate entity and there are no nationality or residence requirements.
  5. A full register of members and charges must be kept at the registered office in either England & Wales, Scotland or Northern Ireland.
  6. The name of the required company should be checked with Companies House and the ending will be either Limited or Public Limited Company. Securing a company name in the UK is a almost instantaneous process
  7. Developed and favourable corporate law.
  8. Single subscriber companies available.
  9. No capital gains tax and no exchange controls.

UK companies are taxed on their worldwide income at the universal rate of 20%. Personal tax rates are also amongst the most favourable in Europe especially given that most foreigners are not taxed on their worldwide income only their British income.

How to Incorporate an UK Ltd Company

The principal governing legislation is covered by the Companies Acts' 1985 and 1989 but are soon to be replaced by the Companies Act 2006.

Corporate Requirements

  1. Name: The name of the required company should be checked with the Registrar. The ending will be either limited` or public limited company.
  2. Capital: The minimum issued share capital is £1.00 with most limited companies having an authorised nominal share capital of at least £1,000.00.
  3. Registered Office: All companies require a local registered office for service of process in either England & Wales or Scotland.
  4. Registered Agent: There is no specific requirement for a registered agent
  5. Board of Directors: There must be at least one director. The director can be an individual or corporate body resident or not in the UK. Details are on public record. There are no nationality requirements.
  6. Company Secretary: The company secretary can be resident or non-resident; a corporate or non-corporate body
  7. Shareholders: There must be at least one shareholder. They can be either real or corporate entities. There are no nationality or residence restrictions.

Annual Fees and Government Taxes

All companies must submit an annual return to the local authorities whether or not the company has traded. If a company has conducted no business it can submit non-trading accounts to Companies House and the Inland Revenue. All companies must be very specific about their trading activities and will normally have to be registered for VAT which, at its highest rate, is 20% in the UK.