GSL / Offshore and International Law / Offshore zones / Western Europe / United Kingdom / Legislation of United Kingdom

Legislation of United Kingdom

Service packages «United Kingdom-Ltd» Service packages «United Kingdom-LLP» Legislation Tax System Audit Services

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

Corporate info

Legal system
common law
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
Shelf companies permitted
Yes
Incorporation timescale for a new company
5 days
Company suffix
Limited Liability Partnership, LLP or llp
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, 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
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
register of members, register of debenture holders, instruments creating charges and register of charges
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
not permitted

Director and secretary

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

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
Yes

Shares and share capital

Minimum authorized share capital
N/A
Minimum issued share capital
N/A
Minimum paid share capital
N/A
Authorized capital payment deadlines
N/A
Issued capital payment deadlines
N/A
Standard currency
British pound
Standard authorized share capital
N/A
Standard par value of shares
N/A
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

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

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
No

General information shortly

Location
Northwestern Europe
Total area
243.809 sq. km
Population
67.647.112 (2021)
Capital
London
National currency
British pound
Conditional reduction of currency
GBP
Against USD
0.80 (2022)
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
- 2 hours
Dialing code
+44
State language
English
Ethnic groups
White 87.1%; Asian 7%, Black 3%, mixed 2%, other 0.9%
Literacy rate
99%
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.
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
Unemployment
3,9% (2021)
GDP per capita rank
29 (2020)
Corruption perceptions index rank
77 (2019)

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Banks of UK

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
1 820
N/A
N/A
3 030
20
4
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