United Kingdom-Ltd


The United Kingdom has historically played a leading role in developing parliamentary democracy and in advancing literature and science. At its zenith in the 19th century, 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. The UK is also an active member of the EU, although it chose to remain outside the Economic and Monetary Union. Devolution and constitutional reform have been significant recent issues in the UK. The Scottish Parliament, the National Assembly for Wales, and the Northern Ireland Assembly were established in 1999, but the latter was suspended until May 2007 due to wrangling over the peace process.

Service packages

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Service item Express Standard Optimum
Company registration
Legal address per year
Secretarial services for the first year
Fees and duties for the first year
Apostilled bound set of incorporation documents
Compliance fee
Nominee service per year
Bank Account Pre-approval
Price

2 000 USD

3 140 USD

3 640 USD

I want to order «»

Contact method: and / or

Core Services

2 000 USD

— Incorporation

including incorporation tax, state registry fee, including Compliance fee

Included

— Annual government fees

Stamp Duty and Companies House incorporation fee

970 USD

— Corporate legal services

including registered address and registered agent, NOT including Compliance fee

100 USD

—Delivery of documents by courier mail

DHL or TNT, at cost of a Courier Service

500 USD

— Apostilled set of Statutory documents

Optional services

Nominee Shareholder

Paid-up “nominee shareholder” set includes the following documents

Related services

430 USD

Tax Certificate

Company’s tax residence certificate for access to double tax treaties network

195 USD

Certificate of Good Standing

Document issued by a state agency in some countries (Registrar of companies) to confirm a current status of a body corporate. A company with such certificate is proved to be active and operating.

195 USD

Certificate of Incumbency

Compliance fee

Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

250 USD

Basic

simple company structure with only 1 physical person

50 USD

For legal entity in structure under GSL administration

additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

100 USD

For legal entity in structure not under GSL administration

additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

350 USD

For client with high risk Status

Cost of incorporation, including first year servicing 2000
Cost of nominee director services per year, including an apostilled set of documents 1140
Cost of annual service, starting from the second year 970
Open account in 26785
Incorporation timescale for a turnkey company 2 weeks
Country 26754

General information shortly

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Total area Population Capital Unemployment Corruption perceptions index rank
243.809 sq. km 63.395.574 (2013) London 7.1% (2013) 14 (2013)
Location Northwestern Europe
National currency British pound
Conditional reduction of currency GBP
Against USD 0.59
Climate, average max and min t° Temperate; moderated by prevailing southwest winds over the North Atlantic Current; more than one-half of the days are overcast; avg. maximum temperature (July) +25°; avg. minimum temperature (January) +5°
Time difference from Moscow - 3 hours
Dialing code +44
State language English
Ethnic groups White 87.1%; Asian 7%, Black 3%, mixed 2%, other 0.9%
Literacy rate 99%
Credit rating AA
Government type Constitutional monarchy
Executive branch Cabinet headed by Prime Minister
Legislative branch bicameral Parliament (House of Commons and House of Lords)
Judicial branch High court, Crown Court and Court of Appeal
GDP per capita rank 24 (2013)

Corporate info

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Shelf companies permitted Legal system Incorporation timescale for a turnkey company Cyrillic alphabet permitted in company name Local registered office
Yes common law 2 weeks No Yes
Types of entity Sole trader; Ordinary partnership; Limited liability partnership; Company limited by shares; Company limited by guarantee; Private unlimited company; Public limited company; Unincorporated association
Incorporation timescale for a new company 5 days
Company suffix Limited or Ltd.
Sensitive words Abortion, Accounts Commission for Scotland, Accredit, Accreditation, Accredited, Accrediting, Adjudicator, Alba, Na h-Alba, Albannach, Association, Assurance, Assurer, Audit Commission for Local Authorities and the National Health Service in England and Wales, Auditor General for Northern Ireland, Auditor General for Scotland. Audit Scotland, Auditor General, Audit Office, Auditor General for Wales, Authority, Banc, Bank, Banking, Banknote, etc.
Information to be kept at the registered office register of members, register of directors, directors' service contracts, directors' indemnities, register of secretaries, records of resolutions and minutes of general meetings, contracts or memoranda relating to purchase of own shares, documents relating to redemption or purchase of own shares out of capital by a private company, register of debenture holders, report to members of outcome of investigation by public company into interests in its shares, register of interests in shares disclosed to public company, instruments creating charges and a register of charges
Seal required, type of seal not required
Redomiciliation (to, from) permitted not permitted

Director and secretary

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Minimum number of directors Residency requirements for directors Corporate directors permitted Disclosure to local agent Disclosure to public
1 No Yes Yes Yes
Directors’ meetings/frequency/location No requirements
Company secretary required No
Residency requirements for a secretary No
Qualified secretary required No
Corporate secretary permitted No

Shareholder and beneficiary

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Minimum number of shareholders Residency requirements for shareholders Corporate shareholder permitted Disclosure to local agent Disclosure to public
1 No Yes Yes Yes
Meetings/frequency/location No requirements
Beneficiary info disclosure to Yes

Shares and share capital

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Minimum authorized share capital Minimum issued share capital Minimum paid share capital Authorized capital payment deadlines Bearer shares permitted
1 share 1 share 1 share No requirements No
Issued capital payment deadlines No requirements
Standard currency Pound Sterling
Standard authorized share capital 1 share
Standard par value of shares 1
Shares with no par value permitted No

Taxes

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Min. rate for corporate tax Capital gains tax VAT Withholding tax Exchange control
19% Regular rate 20% 0%/20%/20% No
Personal tax 20-45%
Corporate tax (in detail) Main rate - 19%
Capital gains tax. Details 20%
VAT. Details 20%
Other taxes Real property tax; Inheritance tax; National Insurance Conrtributions
Stamp duty 0.5%

Accounts

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Requirement to file accounts Publicly accessible accounts Audit required Requirement to file Annual Return Publicly accessible Annual Return
Yes No Yes Yes Yes
Requirement to prepare accounts Yes
Double tax treaties network 132
Tax Exchange Information Agreement network 21
OECD member Yes
Offshore/onshore status according to the RF laws No

GENERAL INFORMATION

General Info

The United Kingdom is a sovereign state located off the north-western coast of continental Europe.
Total area of the UK is 9.984.670 sq. km (2-nd largest in the world). Population of the UK is 63,395,574 (2013). Ethnic groups include White (87.1%); Asian (7%), Black (3%), mixed (2%), other (0.9%).
The capital of the UK is London.
The official languages of the UK is English.
The official currency is Pound Sterling (GBP). 1 USD is equal to 0.59 GBP.
The climate of the UK is temperate; moderated by prevailing southwest winds over the North Atlantic Current; more than one-half of the days are overcast; avg. maximum temperature (July) +25°; avg. minimum temperature (January) +5°.
Time difference with Moscow is - 3 hours.
Literacy rate is 99%.
Calling code of the UK is +44.

History

The United Kingdom has historically played a leading role in developing parliamentary democracy and in advancing literature and science. At its zenith in the 19th century, 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. The UK is also an active member of the EU, although it chose to remain outside the Economic and Monetary Union. Devolution and constitutional reform have been significant recent issues in the UK. The Scottish Parliament, the National Assembly for Wales, and the Northern Ireland Assembly were established in 1999, but the latter was suspended until May 2007 due to wrangling over the peace process.

Government Type

The United Kingdom is a unitary state under a constitutional monarchy.
The head of state is Queen Elizabeth II, who also serves as head of state of 15 other independent Commonwealth countries. The monarch is the head of all three branches, she has the right to dissolve Parliament, appoint ministers and declare wars as a commander-in-chief.
Executive power is vested in the government - the Cabinet headed by the Prime Minister. The prime minister chooses a cabinet and they are formally appointed by the monarch to form Her Majesty's Government. By convention, the Queen respects the prime minister's decisions of government. The cabinet is traditionally drawn from members of the Prime Minister's party or coalition and mostly from the House of Commons but always from both legislative houses, the cabinet being responsible to both.
Legislative power is vested in the Parliament, comprised by two houses, and elected House of Commons and an appointed House of Lords. All bills passed are given Royal Assent before becoming law.
Judiciary power: among high courts of the UK are High court, Crown Court and Court of Appeal. Except from high courts there are various lower courts which take about 90% of all cases. Among them are county courts, administrative courts (tribunals), etc.

Economy

The UK has a partially regulated market economy. Based on market exchange rates the UK is today the sixth-largest economy in the world and the third-largest in Europe after Germany and France, having fallen behind France for the first time in over a decade in 2008.
Pound sterling is the world's third-largest reserve currency (after the US Dollar and the Euro).
The UK service sector makes up around 73% of GDP. London is one of the three "command centres" of the global economy (alongside New York City and Tokyo), is the world's largest financial centre alongside New York, and has the largest city GDP in Europe. Edinburgh is also one of the largest financial centres in Europe.
Tourism is very important to the British economy and, with over 27 million tourists arriving in 2004, the United Kingdom is ranked as the sixth major tourist destination in the world and London has the most international visitors of any city in the world.
Manufacturing remains a significant part of the economy but accounted for only 16.7% of national output in 2003.

CORPORATE INFORMATION

Legal System

The United Kingdom does not have a single legal system due to it being created by the political union of previously independent countries with the terms of the Treaty of Union guaranteeing the continued existence of Scotland's separate legal system. Today the UK has three distinct systems of law: English law, Northern Ireland law and Scots law.
Both English law, which applies in England and Wales, and Northern Ireland law are based on common-law principles. Scots law, a hybrid system based on both common-law and civil-law principles, applies in Scotland.
The United Kingdom is one of only four countries in the world to have an uncodified constitution. The Constitution of the United Kingdom thus consists mostly of a collection of disparate written sources, including statutes, judge-made case law and international treaties, together with constitutional conventions. As there is no technical difference between ordinary statutes and "constitutional law", the UK Parliament can perform "constitutional reform" simply by passing Acts of Parliament, and thus has the political power to change or abolish almost any written or unwritten element of the constitution. However, no Parliament can pass laws that future Parliaments cannot change.
The law regulating English companies is Companies Act. The important fact is that it regulates both companies of England and Northern Ireland.

Types of Entity

The principal forms of business organization in the UK are:
  • Sole trader;
  • Ordinary partnership;
  • Limited liability partnership;
  • Company limited by shares;
  • Company limited by guarantee;
  • Private unlimited company;
  • Public limited company);
  • Unincorporated association).

The most common structure is the company limited by shares .

INCORPORATION

Company Name

The names of all private limited companies in the UK must end in either ‘Limited’ or ‘Ltd’. However, if your company's registered office is stated as being situated in Wales (a "Welsh" company), its name may instead end with "cyfyngedig" or "cyf". The name cannot:
  • be the same as any other name on the Companies House index of names;
  • contain a ‘sensitive’ word or expression unless you get permission: Abortion, Accounts Commission for Scotland, Accredit, Accreditation, Accredited, Accrediting, Adjudicator, Alba, Na h-Alba, Albannach, Association, Assurance, Assurer, Audit Commission for Local Authorities and the National Health Service in England and Wales, Auditor General for Northern Ireland, Auditor General for Scotland. Audit Scotland, Auditor General, Audit Office, Auditor General for Wales, Authority, Banc, Bank, Banking, Banknote, Benevolent, Board, Breatainn, Bhreatainn, Breatannach, Bhreatanach, Bhreatanaich, Breatannaich, Brenin, Frenin, Brenhines, Frenhines, Brenhinol, Frenhinol, Brenhiniaeth, Frenhiniaeth, Britain, British, Cenedlaethol, Chenedlaethol, Genedlaethol, Chamber(s) of, Chamber(s) of Commerce, Business, Industry, Enterprise, Training, Trade, Charitable, Charity, Charter, Chartered, Chartered Accountant, ICAEW, Chartered Secretary, Chartered Surveyor, Child Maintenance, Child Maintenance and Enforcement Commission, Child Support, Coimisean, Choimisean, Chomisein, Coimisein, Comhairle, Chomhairle, Comhairlean, Chomhairlean, Comisiwn, Gomisiwn, Chomisiwn, Comisiwn, Cynulliad, Cenedlaethol, Cymru, Commission, Comptroller and Auditor General, Comptroller and Auditor General for Northern Ireland, Co-operative, Council, Cymru, Gymru, Chymru, Nghymru, Cymreig, Cymraeg, Chymraeg, Chymreig, Gymraeg, Gymreig, Chymreig, Cyngor, Chyngor, Gyngor, Cynulliad Cenedlaethol Cymru, Data protection, Dental, Dentistry, Dentist, Dental Surgeon, Dental Practitioner, Disciplinary, Discipline, Diùc, Dhiùc, Diùcan, Dhiùcan, Ban-diùc, Bhan-dhiùc, Bhan-dhiùcan, Ban-diùcan, Dug, Ddug, Duges, Dduges, Duke, Duchess, Ei Fawrhydi, Ei Mawrhydi, England, English, European, Federation, Financial Conduct Authority, Financial Services Authority, Financial Reporting Council, Foundation, Friendly Society, Fund, Giro, Government, The Governor and Company of the Bank of England, Group, Gwasanaeth iechyd, Wasanaeth iechyd, Gwladol, Wladol, Health and Safety Executive, Health centre, Health service, Health visitor, His Majesty, Her Majesty, Holding, Holdings, House of Commons, House of Lords, HPSS, HSC, Human rights, Inspectorate, Institute, Institution, Insurance, Insurer, International, Judicial appointment, King, Law Commission, Licensing, Llywodraeth, Lywodraeth, Medical centre, Midwife, Midwifery, Mòrachd, Mhòrachd, Mutual, National, National Assembly for Wales, National Assembly for Wales Commission, NHS, Northern Ireland, Northern Irish, Northern Ireland Assembly, Northern Ireland Assembly Commission, Northern Ireland Executive, Northern Ireland Audit Office, Nurse, Nursing, Oifis sgrùdaidh, Oilthigh, t-Oilthigh, 
Oilthighean, h-Oilthighean, Ombudsman, Ombwdsmon, Oversight, Parlamaid, Pharlamaid, 
Parlamaidean, 
Pharlamaidean, Parliament, Parliamentarian, Parliamentary, Patent, Patentee, The Pensions Advisory Service, Police, Polytechnic, Post Office, Pregnancy termination, Prifysgol, Brifysgol, Phrifysgol, Prince, Princess, Prionnsa, Phrionnsa, Prionnsaichean, Phrionnsaichean, Bana-phrionnsa, Bhana-Phrionnsa, Bana-Prionnsaichean, Bhana-Phrionnsaichean, Prudential Regulation Authority, Prydain, Phrydain, Brydain, Prydeinig, Phrydeinig, Brydeinig, Queen, Reassurance, Reassurer, Reinsurance, Reinsurer, Regional Health and Social Care Board, Regional Agency for Public Health and Social Well-being, Register, Registered, Registrar, Registration, Registry, Regulator, Regulation, Riaghaltas, 
Riaghaltais, Riaghaltasan, Rìgh, Banrigh,
Bhanrigh, Bhanrighrean, Banrighrean, Rìoghachd Aonaichte, Rìoghail, Rìoghalachd, Royal, Royalty, Rule committee, Scotland, Scottish, Scottish Law, Commission, The Scottish Parliament, The Scottish 
Parliamentary Corporate Body, Senedd, Sheffield, Siambr, Siambr o, Fasnach, Fusnes, Ddiwydiant, Fenter, Hyfforddiant, Masnach, Social Service, Society, Special School, Standards, Stock exchange, Swyddfaarchwilio, Teyrnas Unedig, Teyrnas Gyfunol, Deyrnas Unedig, Theyrnas Unedig, Deyrnas Gyfunol, Theyrnas Gyfunol, Trade Union, Tribunal, Trust, Tywysog, Thywysog, Tywysoges, Thywysoges, Dywysog, Dywysoges, Underwrite, Underwriting, United Kingdom, University, Wales, Welsh, Watchdog, Welsh Government, Welsh Assembly Government, Windsor, Accountancy and Actuarial Discipline Board, Accounting Standards Board, Auditing Practices Board, Board for Actuarial Standards, Agency, Archwilydd Cyffredinol Cymru, Assembly, Border Agency, Cabinet Office, Cadw, Care and Social Services Inspectorate Wales, CISSW, Commissioner, Commonhold Association, Court, Courts, Crime Squad, Criminal Intelligence 
Service, Crown Estate, Employment Medical, Advisory Service, EMAS, Financial Reporting Review Panel, Further Education, Health and Safety, Health and Social Care, Higher Education, Home Office, Industrial and Provident Society, Intellectual Property, IPO, Licensing Authority Assets Recovery, National Accounts, National Accounting, NAO, Notary, Notary public, 
Notarial, Nuclear Installation, Primary Education, Professional Oversight Board, Scrivener, Scrivener notary, SE, secondary education, Select Committee, Serious Organised Crime, SOCA, Trade Mark, UKBA, UKIPO, Anzac, Architect, Arts psychotherapist, 
Art therapist, Biomedical scientist, Chiropodist, Clinical psychologist, Clinical scientist, Counselling psychologist, Diagnostic radiographer, Dietician, Dietitian, Drama therapist, Diagnostic radiographer, Educational psychologist, Forensic psychologist, Health psychologist, Hearing aid dispenser, Music therapist, Occupational psychologist, Occupational therapist, Operating department practitioner, Orthoptist, Orthotist, Paramedic, Physical therapist, Physiotherapist, Podiatrist, Practitioner psychologist, Prosthetist, Radiographer, Registered psychologist, Social worker, Speech and language therapist, Speech therapist, Sport and exercise psychologist, Therapeutic radiographer, Attorney General, Bachelor of medicine, Building Society, Chemist, Dispensing Chemist, Dispensing, Druggist, Druggist, Pharmaceutical, Pharmaceutical chemist, Pharmaceutical druggist, Pharmaceutist, Pharmacist, Pharmacy, Chiropractor, Chiropractic practitioner, Chiropractioner, Chiropractic physician, Contact lens, Credit Union, Dispensing Optician, Doctor of medicine, Enrolled Optician, General practitioner, Geneva Cross, Housing Corporation, Licentiate in medicine and surgery, Olympic, Olympian, Olympiad, Paralympic, Paralympian, Paralympiad Citius, Altius, Fortius; Faster, Higher, Stronger; Spirit in Motion; any 2 of the following words: Games, Two Thousand and Twelve, Twenty-Twelve, 2012; Any one of the previous words when used with one or more of the following words: London, Medals,
Sponsors, Summer, Gold, Silver, Bronze; Ophthalmic Optician, Optician, Optometrist, Ordnance Survey, Physician, Red Crescent, Red Cross, Red Lion and Sun Registered Optician, Solicitor, Surgeon, Vet 
Veterinary, Veterinary Surgeon, Veterinary Practitioner;
  • suggest a connection with government or local authorities;
  • be offensive.

Below is the full list of words, which are disregarded when it is determined, whether the name is “same as” or not:
  • designated name endings (including permitted abbreviations and Welsh equivalents), e.g. "limited", "unlimited", "public limited company";
  • certain words and expressions including "biz", "co", "co.uk", "com", "company", "UK", "United Kingdom", "Wales", "Cymru", "net", "org.uk", "services", "international";
  • a blank space between or after a word, expression, character, sign or symbol;
  • punctuation including a full stop, comma, colon, bracket, apostrophe;
  • characters "*", "=", "#", "%" and "+" when used as one of the first three characters in a name;
  • "s" at the end of a name (irrespective of whether it is a plural);
  • "the" and "www" at the beginning of a name;
  • any characters after the first 60 characters in a name.

Before choosing a name you should use our WebCHeck service to ensure your chosen name is not the 'same as' an existing name on the index of company names. You should also check the Trade Marks Register of the UK Intellectual Property Office to ensure that the proposed name does not infringe an existing trade mark.

Who can incorporate a company?

One or more persons can form a company for any lawful purpose by subscribing their names to a memorandum of association. In law, 'person' includes individuals, companies and other bodies. By completing the memorandum the subscribers are confirming their agreement to form a company.

How do I incorporate my company and what fees apply?

There are three ways to incorporate a company:
  • Electronic Software Filing
Electronic incorporations can be submitted electronically through suitably enabled software. However, many incorporation agents and software providers have developed their systems to the point where they are able to offer customers a web-based electronic service (this is chargeable).
The standard fee for electronic filing is £13 (or £30 for the 'Same-Day' service for applications received by 3pm Monday to Friday). Straightforward applications are normally processed within 24 hours.
  • Web Incorporation Service
Web Incorporation is the safe and reliable way to file online, enabling you to quickly and easily incorporate your company. The standard fee for Web Incorporation is £15. There is no same day service and currently only applications for a private company limited by shares adopting model articles in their entirety with a proposed non sensitive name can use this service.
  • Paper Filing
Paper documents, which must be sent to the appropriate office, take longer to process than electronic documents. The standard registration fee is £40 (or £100 for the 'Same-Day' service for applications received by 3pm Monday to Friday).The fee is £20 (or £100 for the 'Same-Day' service) in the following circumstances:
  • your company's registered office is stated as being situated in Wales ("Welsh company") and you file documents in the Welsh language;
  • your company is a Community Interest Company (the total fee will be £35 including the CIC Regulator fee and there is no same day service);
  • your company is an unlimited company.

Straightforward applications are normally processed within 5 days of receipt.

What documents are required to incorporate my company?

To incorporate your company you must file the following documents:
  • application to register a company (form IN01) and the fee
  • memorandum of association
  • articles of association (unless you adopt model articles in their entirety
  • additional information if your application includes a sensitive word or expression.

Application to register a company (form IN01) requires the following information:
  • the proposed company name
  • the situation of the company's registered office ('RO') i.e. whether it is in England and Wales, Wales, Scotland or Northern Ireland
  • the address of the RO (which must be the same as the situation of the RO)
  • whether the company will be private, public or unlimited
  • choice of articles of association
  • details of the proposed director(s), and the secretary if it has one
  • directors' service and residential addresses
  • a statement of capital and initial shareholdings or a statement of guarantee
  • whether a company limited by guarantee wishes to apply to be exempt from the requirement to use "limited" or "cyfyngedig" in its name
  • if the proposed name contains a sensitive word and a section requiring confirmation that you have requested the views of a government department or other body
  • a statement of compliance or guarantee

The memorandum of association confirms the subscribers' intention to form a company and become members of that company on formation. In the case of a company that is to be limited by shares, the memorandum will also provide evidence of the members' agreement to take at least one share each in the company.
Under the Companies Act 2006, the memorandum is a much shorter document because all the constitutional rules of the company are contained in the articles of association. Consequently, the memorandum serves a more limited purpose and once the company has been incorporated, it cannot be amended.
Information on capital and shareholdings is no longer part of the memorandum as it is contained in the application to register (form IN01).
The required memorandum wording is included in the 'The Companies (Registration) Regulations 2008 (2008/3014)' and you should use this format when preparing your memorandum. You can also download a proforma memorandum from Companies House website. Please note, the wording of the memorandum is prescribed and it cannot be amended in any way. If you add or change the wording your application will not be accepted.
A company's articles of association are its internal rulebook, chosen by its members. Every company is required to have articles, which are legally binding on the company and all of its members. The articles help to ensure the company's business runs as smoothly and efficiently as possible and will set out how decisions are taken by the members and directors as well as various matters connected with the shares.
On incorporation your company can adopt model articles in entirety, model articles with amendments or it can draft its own bespoke articles.

What is the certificate of incorporation?

The certificate of incorporation is conclusive evidence that the requirements of the Companies Act 2006 as to registration have been complied with and that the company is duly registered under this Act. The certificate will state:
  • the name and registered number of the company
  • the date of its incorporation
  • whether it is a limited or unlimited company, and if it is limited whether it is limited by shares or limited by guarantee
  • whether it is a private or a public company
  • whether the company's registered office is situated in England and Wales, Wales, Scotland or Northern Ireland.

The certificate must be signed by the registrar or authenticated by the registrar's official seal.

Registering at HMRC

After a new limited company is incorporated, Companies House tells HMRC when any limited company is formed and registered with them. HMRC uses the information they receive from Companies House to set up a computer record for your company and allocates it a reference number known as a Unique Taxpayer Reference (UTR). They then send form CT41G (Corporation Tax - Information for New Companies) to your company's registered office. This form includes your company's UTR.
You must tell HMRC that your company is active for Corporation Tax purposes within three months of starting business activity. The easiest way to tell HMRC that your limited company is active and has started its first accounting period is online.
You company may also need to register for other taxes such as PAYE as an employer and VAT.
Your company is an employer for its directors and staff. As an employer, you must deduct PAYE tax and National Insurance contributions (NICs) from your directors/employees' pay each pay period and pay employer's Class 1 NICs if they earn above a certain threshold.
You may need to register the company for VAT if the annual turnover is more than the VAT threshold and submit a VAT Return. You can also choose to register it for VAT voluntarily.

Local Registered Office

Every company must have a registered office. The registered office must be a physical location where notices, letters and reminders can be delivered to the company. The registered office does not need not be the place where the company carries on its day-to-day business so it could, for example, be your accountant's address. If the address is not effective for delivering documents, the company could risk being struck off the register or wound up by a creditor.
If any person you deal with in the course of your business requests in writing the address of your registered office, or the location where they can inspect your company records, or details of the records that you keep at your registered office, you must respond within five working days.
When you apply to incorporate your company you must state whether your company's registered office is to be situated in England and Wales, in Wales (a "Welsh" company), in Scotland or in Northern Ireland. The address of your registered office must also be in the same country as its situation.
If you decide to change your registered office address, you must file a 'Change of registered office address' form AD01. The change is not effective until Companies House registers the form, which can be filed electronically as well as on paper. You can change the address of your registered office but you cannot change its jurisdiction. For example, if your registered office is in Northern Ireland you cannot change it to an address in Scotland.

Company Records

A company, depending on its company type, may have some or all of the following records:
  • register of members
  • register of directors
  • directors' service contracts
  • directors' indemnities
  • register of secretaries
  • records of resolutions and minutes of general meetings
  • contracts or memoranda relating to purchase of own shares
  • documents relating to redemption or purchase of own shares out of capital by a private company
  • register of debenture holders
  • instruments creating charges and a register of charges

You need to keep these company records available for inspection.
You may keep all or any of these records at the company's registered office. The company may choose an alternative location to make these records available for inspection. The company can only have one alternative location to the registered office at any given time.
That location must be in the same part of the UK as the registered office, e.g. a company registered in England and Wales can have an alternative inspection location in England and Wales, but not in Scotland or Northern Ireland. The company may choose to keep some records at its registered office and some at its alternative inspection location provided that all the records of a type are kept together.
If you do not keep all your records at the company's registered office, then you need to tell us the address of your alternative inspection location and which records you hold there, on Form AD02 and any change in that address, on Form AD03.You also need to tell us when you return any of the records to the registered office, on Form AD04.

Seal

A company may have a common seal, but need not have one.
A company which has a common seal shall have its name engraved in legible characters on the seal. If a company fails to comply with this requirement an offence is committed by the company, and every officer of the company who is in default.

Redomicile

The redomiciliation of companies to or from UK is not permitted.

COMPANY STRUCTURE

Directors

The Companies Act 2006 requires a private company to have at least one director. However, a company's articles of association could impose a higher minimum requirement. At least one director must be an individual.
It is up to the members to appoint the directors who will run the company on their behalf. The only restrictions that prevent anyone becoming a director are:
  • they must not have been disqualified from acting as a company director (unless the court has given them permission to act for a particular company)
  • they must not be an undischarged bankrupt (unless they have been given permission by the court to act for a particular company)
  • they must not be under the age of 16

Directors have a responsibility to prepare and deliver documents, on behalf of the company, to Companies House as and when required by the Companies Act. These include, in particular:
  • the annual return
  • the annual accounts
  • notification of any change in the company's officers or in their personal details
  • notification of a change to the company's registered office
  • allotment of shares
  • registration of charges

Secretary

Private companies do not have to appoint a secretary unless their articles of association require them to, although they may choose to do so anyway.
The legislation does not set out the role of the company secretary; this is normally contained in their contract of employment. However, the company secretary might normally undertake the following:
  • maintaining the statutory registers
  • ensuring that the company files statutory information promptly
  • providing members and directors with notice of meetings
  • providing members with proposed written resolutions and auditors with any resolutions it has passed
  • delivering copies of resolutions and agreements to Companies House
  • supplying a copy of the accounts to every member of the company, every debenture holder and every person who is entitled to receive notice of general meetings
  • keeping, or arranging for the keeping of copies of all members' resolutions (passed other than at general meetings), and minutes of all proceedings and general meetings
  • ensuring that people entitled to do so can inspect company records
  • custody and use of the company seal (if the company chooses to have one)
  • be a co-signator for execution of a document by a company
  • authenticating forms for submission to Companies House (a company secretary cannot authenticate the company's annual accounts)

The secretary is an officer of the company and may be criminally liable for defaults committed by the company.

Shareholders

UK private companies must have at least one shareholder. Shareholder can be a natural person or boy corporate, resident or non-resident.
Every company must keep a register of its members. There must be entered in the register—
  • the names and addresses of the members,
  • the date on which each person was registered as a member, and
  • the date at which any person ceased to be a member.

In the case of a company having a share capital, there must be entered in the register, with the names and addresses of the members, a statement of—
  • the shares held by each member, distinguishing each share by its number (so long as the share has a number), and where the company has more than one class of issued shares, by its class, and
  • the amount paid or agreed to be considered as paid on the shares of each member.

There is now no statutory requirement for a private company to hold any general meetings, not even an Annual General Meeting. This change was introduced when Part 13 (sec281 - sec361) of the Companies Act 2006 came into effect on 1st. October 2007.
Some companies' articles will require them to hold an AGM and any such provision will continue to be binding on the company until the articles are amended. A company may hold an AGM even though not bound to by the Act or its articles.

Beneficiary

At the end of 2016 Companies House and the Department for Business, Energy & Industrial Strategy published guidance explaining the procedure of keeping the Register of People with Significant Control (PSC) by companies and partnerships. The main document is called “Register of People with Significant Control. Guidance for Companies, Societates Europaeae and Limited Liability Partnerships”.
In accordance with the above, UK companies and LLPs must maintain PSC registers starting from 6 April 2017. The requirement applies to:
  • companies limited by shares;
  • limited liability companies (LLP);
  • companies limited by guarantee;
  • unlimited companies; and
  • Societates Europaeae.

A person with significant control (PSC) of the company is an individual who meets (any) one or more of the following conditions:
  • An individual who holds more than 25% of shares in the company
  • An individual who holds more than 25% of voting rights in the company
  • An individual who holds the right to appoint or remove the majority of the board of directors of the company
  • An individual who has the right to exercise, or actually exercises, significant influence or control over the company

Where a trust or firm would satisfy one of the first four conditions if it were an individual. Any individual holding the right to exercise, or actually exercising, significant influence or control over the activities of that trust or firm.
Information to be entered on the PSC register:
  • Name;
  • Date of birth;
  • Nationality;
  • Country where the PSC usually lives;
  • Address
  • Date when the person became a PSC in relation to the company etc

This information must be confirmed by the PSC before entered into the register. Companies House keeps information about PSCs indefinitely.

Share Capital and Shares

Minimum share capital for UK private companies is 1 share and there is no maximum share capital limit.
Companies incorporating with share capital must complete a statement of capital and initial shareholdings as part of the application to incorporate and as part of any annual return filing. The statement of capital must show the following details of the capital:
  • the total number of shares of the company
  • the aggregate nominal value of those shares
  • for each class of shares - prescribed particulars of the rights attached to the shares, the total number of shares of that class, the aggregate nominal value of shares of that class
  • the amount paid up and the amount (if any) unpaid on each share (whether on account of the nominal value of the share or by way of premium)

A company may have as many different types of shares as it wishes, all with different conditions attached to them. Typically, share types fall into the following categories:
  • Ordinary: These are the ordinary shares of the company with no special rights or restrictions. The company may divide them into classes of different values
  • Preference: These shares carry a right that the company should pay any annual dividends available for distribution on these shares before other classes
  • Cumulative preference: These shares normally carry a right that, if the company cannot pay the dividend in one year, it will carry it forward to successive years
  • Redeemable shares: These shares are issued by the company with an agreement that it will buy them back at the option of either the company or the shareholder after a certain period, or on a fixed date. A company cannot have only redeemable shares

Under the Companies Act 2006 any company limited by shares can (subject to prohibition or restriction in its articles) re-denominate its share capital, or any class of its share capital, into other currencies by passing a resolution.
A company may increase its share capital by allotting additional shares. A company cannot generally reduce its share capital otherwise than as permitted by statute and confirmed by the court. However, under the Companies Act 2006, a company can reduce its capital in the following circumstances:
  • Reduction following redenomination
  • Reduction supported by a solvency statement
  • Reduction confirmed by a court order

DISSOLUTION OF UK COMPANIES

Voluntary Strike off and Dissolution

In what circumstances may a company apply to be struck off the register?
A company may apply to the registrar to be struck off the register and dissolved. The company can do this if it is no longer needed. For example, the directors may wish to retire and there is no one to take over from them; or it is a subsidiary whose name is no longer needed; or it was set up to exploit an idea that turned out not to be feasible. Some companies who are dormant or non trading choose to apply for strike off. If you have decided that you no longer want to retain your company and wish to have it struck off, the registrar will not normally pursue any outstanding late filing penalties unless you restore the company to the register at a later stage.
This procedure is not an alternative to formal insolvency proceedings where these are appropriate. Even if the company is struck off and dissolved, creditors and others could apply for the company to be restored to the register.
When can I not apply to strike my company off the register?
An application for voluntary striking off can only be made by the company, and must be made on the company's behalf by its directors or a majority of them.
Sections 1004 and 1005 of the Companies Act 2006 set out the circumstances in which the company may not apply to be struck off. For example, the company may not make an application for voluntary strike off if, at any time in the last 3 months, it has:
  • traded or otherwise carried on business;
  • changed its name;
  • made a disposal for value of property or rights that, immediately before ceasing to trade or otherwise carry on business, it held for the purpose of disposal for gain in the normal course of trading or otherwise carrying on business. For example, a company in business to sell apples could not continue selling apples during that 3 month period but it could sell the truck it once used to deliver the apples or the warehouse where they were stored;
  • engaged in any other activity except one which is necessary or expedient for the purpose of: making an application for strike off or deciding whether to do so(for example, a company may seek professional advice on the application and pay the costs of submitting the 'Striking off application by a company, Form DS01), concluding the affairs of the company, complying with any statutory requirement.

A company cannot apply to be struck off if it is the subject, or proposed subject, of:
  • any insolvency proceedings such as liquidation
  • a section 895 scheme (that is a compromise or arrangement between a company and its creditors or members)

However, a company can apply for strike off if it has settled trading or business debts in the previous three months.
What should I do before applying?
There are safeguards for those who are likely to be affected by a company's dissolution. If your company has creditors, members etc, you should warn them, before applying, as any of them may object to the company being struck off. You should deal with any loose ends, such as closing the company's bank account, the transfer of any domain names - before you apply.
You may notify any other organisation or party who may have an interest in the company's affairs, otherwise they might later object to the application. Examples include Her Majesty's Revenue and Customs, local authorities, training and enterprise councils and government agencies.
From the date of dissolution, any assets of a dissolved company will belong to the Crown. The company's bank account will be frozen and any credit balance in the account will pass to the Crown.
How do I apply?
You must complete a 'Striking off application by a company, Form DS01'.
The form must be signed and dated by:
  • the sole director, if there is only one
  • by both, if there are two
  • by all, or the majority of directors, if there are more than 2

It will help Companies House if you provide the name, address, and telephone number of the person we should contact if we have any queries about the application. Please note, this information will appear on the company's public record when we register the form. Depending on where the company was registered you should then send the completed form, with the £10 fee, to Companies House, Cardiff, Edinburgh or Belfast. Cheques should not be payable from the account of the company applying for strike-off.
Who must I inform?
The directors who make the application must, within 7 days of sending the application to the registrar, send a copy to the following persons:
  • members, usually the shareholders
  • creditors, including all contingent (existing) and prospective (likely) creditors such as banks, suppliers, former employees if the company owes them money, landlords, tenants (for example, where a bond is refundable), guarantors and personal injury claimants. Also, you must notify appropriate offices of Her Majesty's Revenue and Customs (HMRC) and Department of Work and Pensions (DWP) if there are outstanding, contingent or prospective liabilities
  • employees
  • managers or trustees of any employee pension fund
  • any directors who have not signed the form

The company's directors must also send a copy of the application to any person who, after the application has been made, becomes a director, member, creditor or employee of the company, or a manager or trustee of any employee pension fund of the company. This must be done within 7 days of the person becoming one of these. They must also send a copy of the application to any person who becomes one of the above at any time after the day the company made the application for voluntary strike off. This obligation continues until the dissolution of the company or the withdrawal of the application.
What happens when Companies House receives the application?
Companies House will examine the form and if it is acceptable it will register the information and put it on the company's public record. Companies House will send an acknowledgement to the address shown on the form and will also notify the company at its registered office address to enable it to object if the application is bogus.
The registrar will publish notice of the proposed striking off in the Gazette to allow interested parties the opportunity to object.
A copy of this notice will be placed on the company's public record. If there is no reason to delay the registrar will strike the company off the register not less than 3 months after the date of the notice. The company will be dissolved on publication of a further notice stating this in the relevant Gazette.
What is the Gazette?
The Gazette is the official newspaper record in the United Kingdom. There are 3 of them: the London Gazette, for companies incorporated in England and Wales; the Edinburgh Gazette, for companies incorporated in Scotland; and the Belfast Gazette, for companies incorporated in Northern Ireland.
When the registrar publishes a notice to strike off or restore a company, the notice will appear in the Gazette for the part of the United Kingdom in which the company was formed. The gazettes are published weekly.
What if the company ceases to be eligible for striking-off or I change my mind and want to withdraw my application?
The directors must ensure the application is withdrawn immediately by completing the 'Withdrawal of striking off application by a company', Form DS02 if they change their mind or the company ceases to be eligible for striking-off. This may be because, after applying to be struck off, the company:
  • trades or otherwise carries on business;
  • changes its name;
  • for value, disposes of any property or rights except those it needed in order to make or proceed with the application (for example a company may continue the application if it disposes of a telephone which it kept to deal with enquiries about its application);
  • becomes subject to formal insolvency proceedings or makes a section 900 application (a compromise or arrangement between a company and its creditors);
  • engages in any other activity, unless it was necessary to: make or proceed with a striking-off application, conclude those of its affairs that are outstanding because of the need to make or proceed with an application (such as paying the costs of running office premises while concluding its affairs and then finally disposing of the office), comply with a statutory requirement

Any director may file the application to withdraw the strike off action to the registrar using our WebFiling service. Alternatively, the application can be withdrawn by submitting a paper Form DS02.
Can anyone object to dissolution?
Any interested party can object to the registrar.
Objections or complaints must be in writing and sent to the registrar with any supporting evidence, such as copies of invoices that may prove the company is trading. Reasons could include:
  • if the company has broken any of the conditions of its application for example, it has traded, changed its name or become subject to insolvency proceedings during the three-month period before the application, or afterwards;
  • if the directors have not informed interested parties;
  • if any of the declarations on the form are false;
  • if some form of action is being taken, or is pending, to recover any money owed (such as a winding-up petition or action in a small claims court);
  • if other legal action is being taken against the company;
  • if the directors have wrongfully traded or committed a tax fraud or some other offence.

Offences and penalties
It is an offence:
  • to apply when the company is ineligible for striking-off;
  • to provide false or misleading information in, or in support of, an application;
  • not to copy the application to all relevant parties within seven days;
  • not to withdraw application if the company becomes ineligible.

The offences attract a fine of up to a maximum of £5,000 on summary conviction (before a magistrates' court or Sheriff Court) or an unlimited fine on indictment (before a jury). If the directors breach the requirements to give a copy of the application to relevant parties and do so with the intention of concealing the application, they are also potentially liable to not only a fine but also up to seven years imprisonment. Anyone convicted of these offences may also be disqualified from being a director for up to 15 years.

Enforced Liquidation

Can the registrar strike a company off the register on his own initiative?
Yes, if it is neither carrying on business nor in operation. The registrar may take this view if, for example:
  • he has not received documents from a company that should have sent them to him;
  • mail that the registrar has sent to a company's registered office is returned undelivered;
  • the company has no directors.

Before striking a company off the register, the registrar is required to write two formal letters and send notice to the company's registered office to inquire whether it is still carrying on business or in operation. If he is satisfied that it is not, he will publish a notice in the relevant Gazette stating his intention to strike the company off the register unless he is shown reason not to do so.
A copy of the notice will be placed on the company's public record. If the registrar sees no reason to do otherwise, he will strike off the company not less than three months after the date of the notice. The company will be dissolved on publication of a further notice stating this in the relevant Gazette.
How can I avoid this action?
If you want your company to remain on the register, you must reply promptly to any formal inquiry letter from the registrar and deliver any outstanding documents. Failure to deliver the necessary documents may also result in the directors being prosecuted.
Can I object?
The registrar will take into account representations from the company and other interested parties, for example, creditors. If there is good reason not to strike the company off the register, he may suspend the action until the objection is resolved.
What happens to the assets of a dissolved company?
From the date of dissolution, any assets of a dissolved company will be 'bona vacantia'. Bona vacantia literally means “vacant goods” and is the technical name for property that passes to the Crown because it does not have a legal owner. The company's bank account will be frozen and any credit balance in the account will be passed to the Crown.

RESTORATION OF UK COMPANIES

Restoration by Court Order

The registrar can only restore a company if he receives a court order, unless a company is administratively restored to the register. Anyone who intends to make an application to the court to restore a company is advised to obtain independent legal advice.
Any company which is restored to the register is deemed to have continued in existence as if it had not been struck off and dissolved.
Who can apply to the Court to restore a company to the register?
Generally, any of the following may make an application for restoration:
  • any former director, member, creditor or liquidator
  • any person who had a contractual relationship with the company or who had a potential legal claim against the company
  • any person who had an interest in land or property in which the company also had an interest, right or obligation
  • any manager or trustee of the company's former employees' pension fund
  • any other person who appears to the Court to have an interest in the matter

How long have I got to make an application to the Court?
For companies dissolved under Section 1000 or 1003 of the CA2006 and 652 or 652a of the 1985 Act.
As a general rule restoration by court order can be applied for up to six years from the date of dissolution, if the dissolution date is on or after 1st October 2009. If the dissolution date is on or before 30th September 2009, transitional arrangements exist to take account of the new 2006 Companies Act for restoration.
For companies dissolved under Section 201 and 205 and Para 84 of Schedule B1 of the Insolvency Act and 652 of 1985 Act or Section 1001 of the CA2006.
Companies dissolved on or before 30th September 2007 following any form of liquidation are out of time to restore the company.
Companies dissolved on or after 1st October 2007 following any form of liquidation have six years from the date of dissolution.
NB. There are no time limits for personal injury claims in any of the above scenarios.
Why might a company be restored with a different company name?
The registrar will normally restore a company with the name it had before it was struck off and dissolved. However, if at the date of restoration the company's former name is the same as another name on the registrar's index of company names, he cannot restore the company with its former name. You can check whether the company's name is the same as another on the register by using the WebCheck service.
If the name is no longer available, the court order may state another name by which the company is to be restored. On restoration, the registrar will issue a change of name certificate as if the company had changed its name.
Alternatively, the company may be restored to the register as if its registered company number is also its name. The company then has 14 days from the date of restoration to pass a resolution to change the name of the company. You must deliver a copy of the resolution and a 'notice of change of name by resolution of directors' (Form NM05) to Companies House with the appropriate fee. The registrar will then issue a change of name certificate.
!It is an offence if the company does not change its name within 14 days of being restored with the number as its name!
Are there costs or penalties?
Yes. Where property has become bona vacantia, the Court may direct that the claimant meets costs of the Crown representative in dealing with the property during the period of dissolution or in connection with the proceedings. The Court may also direct that the claimant meets the registrar's costs in connection with the proceedings for the restoration.
The company must normally pay any statutory penalties for late filing of accounts delivered to the registrar outside the period allowed for filing. The penalties that may be due are:
  • unpaid penalties outstanding on accounts delivered late before the company was dissolved
  • penalties due for accounts delivered on restoration, if the accounts were overdue at the date the company was dissolved
  • The appropriate filing fee must also be paid on submission of outstanding documents.
The level of any late filing penalty depends on how late the accounts are when the registrar receives them. For example, a set of accounts that you should have delivered 2 months before a private company was dissolved are normally regarded as 2 months late if you deliver them on restoration and you must pay the relevant penalty. The company is not liable for late filing penalties for accounts received on restoration but which became due while the company was dissolved.
What happens when the court makes an order for restoration?
The applicant must deliver a copy of the court order to the registrar to restore the company. A company is restored when you deliver the order. When restoring a company that was registered in Scotland, the registrar in Scotland will require a copy of the order certified by the court.
What happens when the company has been restored?
When it has been restored, the general effect is that a company is deemed to have continued in existence as if it had not been dissolved or struck off the register. The Court may give directions or make provision to put the company and all other persons in the same position as they were before the company was dissolved and struck off. A notice will also be placed in the relevant Gazette.

Administrative Restoration

Under certain conditions, where a company was dissolved because it appeared to be no longer carrying on business or in operation, a former director or member may apply to the registrar to have the company restored. This is called 'administrative restoration'. If the registrar restores the company it is deemed to have continued in existence as if it had not been dissolved and struck off the register.
Who can apply to have a company restored to the register?
Only a former director or former member of the company, who was a director or member at the time the company was dissolved can apply.
Can an application for administrative restoration by made in respect of any company?
No. To be eligible for administrative restoration, the company must have been:
  • struck off the register under sections 1000 and 1001 of the Companies Act 2006, the Companies (Northern Ireland) Order 1986 (SI 1986/1032 (NI 6) or section 652 of the Companies Act 1985
  • dissolved for no more than six years at the date the registrar receives your application for restoration

If a company meets the above criteria, an application for restoration may be made if it meets the following conditions:
  • it must have been carrying on business or in operation at the time it was struck off
  • if any property or rights belonging to the company became bona vacantia, the applicant must provide the registrar with a statement in writing from the relevant Crown Representative giving consent to the company's restoration. This statement is called a 'Bona Vacantia waiver letter'
  • it has delivered all documents necessary to bring the company up to date and paid any outstanding late filing penalties.

How do I apply for administrative restoration?
You must send an 'Application for administrative restoration' (Form RT01) to the registrar which includes a statement of compliance confirming that the applicant is legally entitled to make the application and that the conditions for restoration are met.
The registrar's fee for processing the application is £100.
What are the other costs or penalties involved in making an application for administrative restoration?
The applicant must meet the Crown representative's costs or expenses (if demanded). The company must pay any statutory penalties for late filing of accounts delivered to the registrar outside the period allowed for filing.
You must also pay the appropriate filing fee on submission of any outstanding documents.
The level of any late filing penalty depends on how late the accounts are when we receive them. In the case of accounts delivered on restoration, the registrar will normally disregard the period during which the company was dissolved. For example, a set of accounts that you should have delivered 2 months before a private company was dissolved are normally regarded as 2 months late if you deliver them on restoration and you must pay the relevant penalty before the restoration of the company.
The company is not liable for late filing penalties for accounts received on restoration but which became due while the company was dissolved.
What happens next?
The registrar will give notice to the person who has applied for restoration of his decision.
If the registrar decides that he will restore the company to the register the restoration will take effect from the date he sends the notice. The notice will include the company's registered number and the name of the company. If the company is restored to the register under a different name or with the company number as its name, that name and its former name will appear on the notice.
If the registrar decides not to restore the company to the register, the applicant may apply to the Court for restoration within 28 days even if the period for restoration has expired.
Why would a company be restored with a different company name?
If at the date of restoration the company's former name is the same as another name on the registrar's index of company names, it will need to choose an alternative name. The application for restoration may state another name by which the company is to be restored. You can check whether the company's name is the same as another on the register by using the WebCheck service.
Alternatively, we may restore the company to the register as if its registered number is also its name. The company then has 14 days from the date of restoration in which to change the name of the company. Alternatively, the directors can pass a resolution to change the company name. You must deliver a copy of the resolution and notice (Form NM05) of the change of name to Companies House including the appropriate fee.
It is an offence if the company does not change its name within 14 days of the company being restored with the company number as its name.
What happens when the company has been restored?
When it has been restored, the general effect is that a company is deemed to have continued in existence as if it had not been dissolved or struck off the register. An application can be made to the Court for directions or provision required to put the company and all other persons in the same position as they were before the company was dissolved and struck off. Any such application to the Court must be made within 3 years of the company being restored.

TAXATION

Individual Taxation

Personal Income Tax
Individuals who are resident and domiciled in the UK are required to pay income tax on their worldwide income. UK non-domiciled residents can enjoy preferential taxation of income and assets outside the UK. If a resident does not live in the UK, taxation may differ.
Personal income tax is levied at progressive rates with some exemptions and peculiarities:
  • 20% on income up to GBP 37.500
  • 40% on income from GBP 37.501 to GBP 150.000
  • 45% on income over GBP 150.001

Dividend income is taxed at rates ranging from 7.5% to 32.5%, depending on the amount of the dividend.
There are non-taxable thresholds for certain types of income.

Capital Gains Tax
Capital gains up to GBP 12.300 are exempt from tax.
Gains over this amount and up to GBP 37,500 are taxed at the rate of 10%.
Gains beyond this threshold are taxed at the rate of 20%.
Non-exempt gains on disposal of residential property are taxed at the rate of 28% and 18%, depending on the sum of the gains.

Corporation Tax

A UK tax resident company pays corporation tax on its worldwide income.
The profits of a foreign permanent establishment may be excluded from the tax base at the option of the taxpayer. Nonresident companies pay tax on profits derived in the UK.
The basic corporation tax rate is 19%.
Capital gains are taxed at the regular corporation tax rate.
Profits from the sale of 10% of shares or more in a company are usually tax-exempt. The exemption does not apply to the sale of companies acquired in the previous year and of dormant companies.
In most cases, there is no tax on dividends from foreign sources, as well as dividends from UK companies, with some exceptions.

Withholding Tax

Withholding tax is not levied on dividend payments.
The tax is withheld on interest and royalty at the rate of 20%. There are exemptions for certain royalties and interest, for example, interest on quoted Eurobonds, interest on short-term (no more than a year) loans, etc.
The tax may be withheld on certain other income payments.

VAT

The standard VAT rate is 20%.
A reduced VAT rate of 5% applies to some types of goods and services.

Stamp Duty

Transactions with shares may be subject to stamp duty at the rate of 0.5% (in some cases, 1.5%).
On acquisition of nonresidential property, stamp duty is charged at the rate of 5%. Stamp duty on acquisition of residential property is 15% (if the purchaser is an individual, and the property is the only residential property, then stamp duty is levied at progressive rates up to 12%).
From 1 April 2021, an additional 2% will be charged if the purchaser of residential property is a nonresident.
Stamp duty is also due on property rents.
Special rules apply in Scotland and Wales.

Property Tax

Local authorities levy tax on properties located in their relevant areas.
Also, if a residential property is owned not by an individual and has a value of GBP 500,000 or more, then property tax (ATED - Annual Tax on Enveloped Dwellings) is charged at rates set in GBP and depending on the value of the property. This tax may be avoided if the property is rented out, and in some other cases.

Inheritance and Gift Tax

Inheritance Tax (IHT) is levied on the deceased taxpayer's estate in excess of GBP 325,000. This tax may also be levied during the taxpayer’s life on some transactions (the most common of which is the transfer of property to a trust).
In addition, this tax applies to transfers of property made by an individual in the 7 years before his death.
Individuals without a domicile (or imputed domicile) pay this tax on UK property.
Transfer of property between spouses, both during life and posthumously, is not subject to this tax, unless a domiciled spouse transfers the property to the non-domiciled spouse and the value of the property exceeds GBP 325,000.

Social Security Contributions

National Insurance contributions (NIC) are paid by employers, employees and self-employed.
The NIC at a rate of 12% applies to employees earning from GPB 184 to GBP 962 a week and at a rate of 2% on earnings above this threshold.
Employers pay NIC on employee’s pay at a rate of 13.8%.
Self-employed pay NIC at a rate of 9% on income from GBP 8,632 to GBP 50,000 per year and at a rate of 2% on the excess.

CFC Rules

UK companies may be required to pay tax on the profits of controlled foreign companies. The main goal is to tax profits that have been artificially de-taxed in the UK.
A number of tests are used to determine tax liabilities. In particular, it is determined whether profits are generated by a foreign controlled company due to significant functions performed in the UK.
There are various exemptions.

UK Has Left the EU (BREXIT)

The transition period for the UK’s exit from the EU expired at the end of 2020. By that time, the parties had managed to reach a deal on trade and cooperation, which provides, among others, non-levy of customs duties in mutual trading, subject to certain conditions.
The UK will no longer have access to EU Directives on subsidiaries and parent companies, or interest and royalties, or reorganizations. However, this can be largely offset by bilateral tax treaties between the UK and EU member states.
Changes in the relationship mean additional administrative burden, for example UK companies selling goods in the EU may need to register for VAT in different EU countries.
There are other implications of leaving the EU that should be considered as well.

The UK has exchange of information relationships with 153 jurisdictions through:
  • 132 DTCs: Albania, Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Cameroon, Canada, Cayman Islands, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Côte d'Ivoire, Denmark, Egypt, Estonia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, Former Yugoslav Republic of Macedonia, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guernsey, Guyana, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Republic of), Kosovo, Kuwait, Kyrgyzstan, Latvia, Lebanon, Lesotho, Libya, Lithuania, Luxembourg, Malawi, Malaysia, Malta, Marshall Islands, Mauritius, Mexico, Moldova (Republic of), Monaco, Mongolia, Montenegro, Montserrat, Morocco, Myanmar, Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Senegal, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, United States, Uruguay, Uzbekistan, Venezuela, Viet nam, Zaire, Zambia, Zimbabwe.
  • 21 TIEAs: Anguilla, Antigua and Barbuda, Aruba, Bahamas, Belize, Bermuda, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Nederland's Antilles, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Turks and Caicos Islands, Virgin Islands, British

Foreign exchange control

There are no foreign exchange controls in the UK.

ACCOUNTS

Accounts

Every UK company must prepare annual accounts reflecting its financial position and results of its activity for the given year.
The directors of every company must prepare accounts for each financial year. These are called stand-alone accounts. A UK parent company must also prepare group accounts.
Accounts must be filed with Companies House within 9 months of the accounting reference date. Failure to deliver accounts on time is a criminal offence.
In addition, the law imposes a civil penalty for late filing of accounts. The amount of the penalty depends on how late the accounts arrive:
Length of delay Penalty for a private company Penalty for a public company
Not more than 1 month GBP 150 GBP 750
More than 1 month but not more than 3 months GBP 375 GBP 1,500
More than 3 months but not more than 6 months GBP 750 GBP 3,000
More than 6 months GBP 1,500 GBP 7,500

The penalties will be doubled if a company files its accounts late in 2 successive financial years.

Audit

If a UK company is not eligible for audit exemption (see below), then its accounts must be checked by an auditor and the auditor’s report must be attached to the accounts for members and Companies House.
To qualify for audit exemption, a company must qualify as small in relation to the financial year. In other words, it must meet any two of the following conditions:
  • the annual turnover must not be more than GBP 10.2 million
  • the balance sheet total must not be more than GBP 5.1 million
  • the average number of employees must be not more than 50

Annual Return

Every UK company must file an Annual Return with Companies House at least once every 12 months. The company's director(s) and the secretary (where applicable) are responsible for ensuring that they deliver the Annual Return to Companies House within 28 days of the company’s anniversary of incorporation or the anniversary of the date of the most recent Annual Return.
If the Annual Return is not delivered, the Registrar might assume that the company is no longer carrying on business or in operation and take steps to strike it off the register.
An annual return is a snapshot of certain company information – its directors, secretary (if any), registered office, shareholders and share capital. It is a separate document from a company's annual accounts.
The Annual Return must include the following information:
  • company name
  • registration number
  • date that the Annual Return is made up to
  • principal business activity of the company
  • type of company, for example, private or public
  • registered office address of the company
  • address where the company keeps certain company records, if other than the registered office, and the records held there
  • details of the company secretary (corporate or individual), where applicable
  • details of all the company directors (corporate or individual).

Tax Returns

The tax period for corporation tax is the period covered by the company’s accounts; it must not exceed 12 months.
The tax return is filed electronically within a year of the tax period end.
Small companies pay corporation tax within 9 months of the end of the relevant tax period. Companies with higher taxable profits make provisional tax payments on a quarterly basis.

International law relations

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Party to the Hague Convention (Apostille) Legal system Double tax treaties network OECD member Offshore/onshore status according to the RF laws
Yes common law 132 Yes No

Public authorities and legal acts

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List of laws and regulations
Act name Scope of law
Company and Business Names (Miscellaneous Provisions) Regulations 2009 (SI2009/1085) company and business names
The Company, Limited Liability Partnership and Business Names (Sensitive Words and Expressions) Regulations 2009 sensitive words
Companies Act 2006 companies
Companies Act 2006 (Annual Returns) Regulations 2011 annual return
Limited Liability Partnerships Act 2000 limited liability partnership
The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009 limited liability partnership
Income and Corporation Taxes Act 1988 income and corporation taxes
Taxation of Chargeable Gains Act 1992 taxation of chargeable gains
Value Added Tax Act 1994 VAT
Income Tax (Earnings and Pensions) Act 2003 income tax
Income Tax (trading and other income) Act 2005 income tax
Income Tax Act 2007 income tax
Corporation Tax Act 2010 corporation tax
Taxation (International and Other Provisions) Act 2010 international taxation
Inheritance Tax Act 1984 inheritance tax
Tax treaties entered Albania, Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Cameroon, Canada, Cayman Islands, Chile, China, Colombia, Croatia, Cyprus, Czech Republic, Côte d'Ivoire, Denmark, Egypt, Estonia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, Former Yugoslav Republic of Macedonia, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guernsey, Guyana, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Korea (Republic of), Kosovo, Kuwait, Kyrgyzstan, Latvia, Lebanon, Lesotho, Libya, Lithuania, Luxembourg, Malawi, Malaysia, Malta, Marshall Islands, Mauritius, Mexico, Moldova (Republic of), Monaco, Mongolia, Montenegro, Montserrat, Morocco, Myanmar, Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Saudi Arabia, Senegal, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, United States, Uruguay, Uzbekistan, Venezuela, Viet nam, Zaire, Zambia, Zimbabwe.
Tax Exchange Information Agreement (TEIA) Anguilla, Antigua and Barbuda, Aruba, Bahamas, Belize, Bermuda, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Nederlandse Antillen, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Turks and Caicos Islands, Virgin Islands, British
List of state regulatory authorities
UK Government https://www.gov.uk
HM Revenue & Customs http://www.hmrc.gov.uk/
Companies House http://www.companieshouse.gov.uk/index.shtml
The Gazette https://www.thegazette.co.uk
Bar Council http://www.barcouncil.org.uk

    Legal Partner of Review:

    GSL Law&Consulting (UK) Ltd

    Consultation regarding annual maintenance, tax planning and various offshore solutions, Company formation in all major financial service centers, shelf-companies, Formation of trusts, funds and financial companies, Provision of nominee directors and shareholders, Bank account opening, Accounting services, Compliance with statutory accounting requirements, Auditing, VAT registration and related consultancy.

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