Introduction to setting up a Company in the UK
The establishment of subsidiaries in the UK is regulated by the Companies Act 2006. The country is completely non-discriminatory to foreign investment and is popular due to its geographical location, strong economy and advanced telecommunications. There are certain regulations on company names, but the timescale for setting up a subsidiary is just one day, assuming all documentation conforms to standard.
What are the main requirements for a UK Company?
– For a private limited company (Ltd) there is no minimum or maximum share capital required
– The Memorandum & Articles of Association of the subsidiary
– A registered office address in the UK
The documents shown above must be filed with the Registrar of Companies at Companies House in order to register the subsidiary.
All required documents must be officially notarised by a lawyer and presented in English.
What are the accounting requirements of a UK Company?
The subsidiary must register with HM Revenue & Customs (HMRC) for taxation purposes. VAT registration depends on the annual turnover and is not necessary if the subsidiary is part of a parent VAT group.
Annual tax returns should be filed, as well as monthly or quarterly VAT returns – again dependent on turnover. Annual accounts must also be filed with the Companies House.
Some forms of tax administration can be done online through the Government Gateway.
Please contact us in order to discuss your accounting requirements.
We will handle every aspect of the Company formation for you. Using our expert knowledge we can offer a company formation package in which we take care of company registration, issue of the certificates of registration, local directors, local representative and place of business in the United Kingdom, tax registration, VAT registration, and translation of documents into English (if required).
Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple companies. The benefits for establishing multiple companies include further increased exposure and global presence, and we can organise everything for you.
A summary of UK Corporate Taxes is available here.