UK company registration Introduction

UK corporation tax is charged on the worldwide profits (income plus gains) of any company that is resident in the UK. A company is UK resident if it is incorporated in the UK or if its centre of management and control is in the UK. If a company has a majority of UK resident directors it is likely to be UK resident, although the test is where management is actually exercised.

Generally speaking, a UK company is taxable on its worldwide income. However, in certain cases, a UK incorporated company may be classified as non-resident for tax purposes, and therefore non taxable in the UK on non-UK source income. Such a company must be managed and controlled from a country with which the UK has signed a double taxation treaty. By careful selection of the country from which the UK company is managed, it may therefore be possible to create a non-taxable UK entity. For example, Portugal has a suitable tax treaty with the UK so a UK company managed from Madeira, a part of Portugal, would neither be taxable in Madeira nor the UK

Top 10 reasons to incorporate

1. Limited company subscribers may be residents outside the UK.
2. You must appoint a minimum of one Director.
3. Directors can be corporate bodies or private individuals.
4. A Director can be of any nationality.
5. All English and Scottish companies must appoint a company Secretary.
6. A Secretary can be of any nationality.
7. If there is only ONE Director, he or she CANNOT also be the Secretary.
8. There is no maximum and no minimum share capital.
9. There is no minimum share capital, and no requirements in terms of paid-in capital.
10. The company is required to have a registered office in the United Kingdom.

RICHFUL provides UK company services

Our services include name registration, UK ready-made companies, companies limited by guarantee, flat management companies, subsidiary companies and PLC incorporation. We have assisted thousands of companies around the world to establish and maintain their new or existing business formations. Our corporate, tax and securities lawyers have extensive experience in the issues involved in all types of business entities, including corporations, private limited companies, public companies, limited liability companies, limited partnerships, general partnerships, limited liability partnerships and professional associations. Our lawyers can advise clients in the choice of entity to use for any given business venture. Such advice includes the tax advantages of the respective entities as well as the non-tax or business issues involved in each type of entity. Our lawyers can continue to represent such entities on an ongoing basis and advise the entity and its owners regarding any business issues which arise from time to time (such as labour and employment issues, tax issues, negotiating contracts, securities issues and licensing and regulatory matters).