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E-Quick Package |
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 £ 32.00 | No Annual Charges | | |
 This is our most popular package with UK residents, and includes:
 The registration of your company from scratch using your own registered office address, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
The standard capital on formation is £1,000, this is divided into 1,000 ordinary shares valued at £1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
The government fee for incorporation is included in the price of this package;
The following documents, which need to be printed and signed, will be emailed to you upon formation of your company: A certificate of incorporation (requires PDF file reader);
The memorandum & articles of association (requires MS-Word file reader);
The first meeting of the board of directors (requires MS-Word file reader);
Share certificates and a company register.
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Economy Package |
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| £ 82.00 | Annual Maintenance Fee £50.00 | | |
This is our most popular package with EU residents, and includes: The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
The standard capital on formation is £1,000, this is divided into 1,000 ordinary shares valued at £1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
The government fee for incorporation is included in the price of this package;
 The provision of a registered office address for 12 months is also included in the price of this package (our registered office address service is charged annually);
The following documents, which need to be printed and signed, will be emailed to you upon formation of your company: A certificate of incorporation (requires PDF file reader);
The memorandum & articles of association (requires MS-Word file reader);
The first meeting of the board of directors (requires MS-Word file reader);
Share certificates and a company register.
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Premier Package |
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| £ 131.95 | Annual Maintenance Fee £99.95 | | |
This is another one very popular package for small and medium size businesses, such as those being run by a sole director from home, and for companies owned by overseas residents who still need a local registered office address but would rather not open local offices; This package is often chosen by such customers, who are looking to minimise a sole director personal liability (and who are not quite familiar with the new UK corporate legislation), because this package includes a provision of a nominee secretary for 12 months. This package is also includes: The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is £1,000, this is divided into 1,000 ordinary shares valued at £1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
The government fee for incorporation is included in the price of this package;
The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
The provision of a nominee secretary for 12 months is also included in the price of this package (our nominee secretary service is charged annually); The following hard bound copy of corporate documents, will be posted to you upon formation of your company: A laminated copy of the certificate of incorporation of your company;
A hard bound copy of the memorandum and articles of association;
A hard bound copy of the minutes of the first meeting of directors;
Share certificates, and your company register.
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Deluxe Package |
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| £ 256.95 | Annual Maintenance Fee £379.95 | | |
The Deluxe business start-up package is our most popular package with international customers, and includes: Incorporation of your company from scratch using one of our registered office addresses, our nominee director and nominee secretary, we will appoint your own candidate(s) to the role of shareholder;
The standard capital on formation is £1,000, this is divided into 1,000 ordinary shares valued at £1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;
The government fee for incorporation is included in the price of this package;
The provision of a registered office address for 12 months is included in the price of this package (our registered office address service is charged annually);
The provision of a nominee secretary for 12 months is included in the price of this package (our nominee secretary service is charged annually);
The provision of a nominee director for 12 months is also included in the price of this package (our nominee director service is charged annually); The following two hard bound copies of corporate documents, will be posted to you upon formation of your company: A laminated copy of the certificate of incorporation of your company;
A hard bound copy of the memorandum and articles of association;
A hard bound copy of the minutes of the first meeting of directors;
Share certificates, and your company register;
The general power of attorney signed by a nominee director;
Pre-signed, undated resignation letter from a nominee director;
The agreement for the provision of nominee service and indemnification of nominee.
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| Business Start-Up: Legal Requirements | | |
A private company limited by shares in England and Wales must have at least one director, one shareholder, and may have a secretary.
You need at least one person to form this type of company. If there is only one director, and that director is a natural person in your company, that director can also act as the secretary.
A company must have at least one director who is a natural person. This requirement is met if the office of director is held by a natural person as a corporation sole or otherwise by virtue of an office.
You can register a sole director' company, if you are familiar with the secretaries duties and responsibilities, because all of them belongs to a sole director.
The directors and secretary of your company can also be shareholders.
The Companies Act imposes no restriction on the minimum age of company directors. However Companies House will actively discourage the appointment of anyone under the age of 16 from taking up a company directorship on the grounds that the individuals concerned may not fully understand the legal liabilities that go with the position and for the most part will not have the experience necessary to perform the duties of a company director.
Under the Companies Act 2006, there is no restriction on any or all of the members/shareholders being from an overseas country (i.e. outside the United Kingdom in terms of residency, domicile, citizenship, place of incorporation or all or any of those concepts).
There is no requirement for the officers of your company to be UK citizens or residents, nor for them to hold valid work permits.
Owning, or being an officer of a UK company does not, however, grant you any right to live or work in the UK if you are a foreign national.
Your company must have a registered office address within England or Wales; this is the official address of your company and will be on the public record as such.
Your company must hold its official company documents at its registered office address: its register of shareholders, and its constitutional documents.
So long as you maintain a registered office address in England or Wales, you can conduct your business from any place in the world: you do not have to run your business from your registered office address.
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Company Formation Home Page >> UK Companies Law >> Enterprise Management Incentives BRITISH COMPANIES FORMATION. INCORPORATE A LIMITED COMPANY IN ENGLAND. PRIVATE COMPANY SHARE OPTIONS: The employee is granted the right to buy shares in the company at some time in the future, but normally at the current share price or at a discount to the current share price. Exercise of the option can be conditional on performance targets.
Share options in themselves are an incentive for the employee to see the share value of the company increase. Performance targets allow this incentive to be refined and directed at specific measures of the company's performance. The employees get no equity stake in the company until the options are exercised. If the employee leaves beforehand or performance targets are not met, share options are never exercised and the employee never becomes a shareholder, thus avoiding the difficulties which can result when shares are gifted direct to employees and also avoiding any dilution of existing shareholdings. No actual cost to the company. There do not have to be any disadvantages to using share options. If new shares are allotted to satisfy options this will dilute the current shareholders, but this can be avoided by recycling old shares through an ESOP. For the employee, options are a one way bet - if the share value goes up they are worth exercising - otherwise they can be allowed to lapse.
Employee Share Ownership Plans/Employee Benefit Trusts (ESOPs/EBTs). These terms are used to mean the same thing - a trust set up by a company to benefit its employees. The trust will acquire shares in the company which are then made available to employees. As well as acquiring newly issued shares, the ESOP can acquire shares from current shareholders when they might otherwise find it difficult to dispose of their shares, particularly for small private companies. Shares from the ESOP can be used to satisfy share options or to make gifts of shares (or sell them) to employees. Contributions to the ESOP (which can be gifts or loans) done properly, will be tax efficient for the company. Tax and Share Incentives - Inland Revenue Approved Schemes: if employees do not pay full value for the shares, they are exposed to income tax liabilities on the difference between that value and the amount (if any) they actually pay (and sometimes NIC liabilities arise and PAYE has to be operated). But these liabilities can be reduced, delayed or avoided altogether if an Inland Revenue approved employee share scheme is used. The following types of approved schemes are now available: Save As You Earn scheme: all qualifying employees in the company are granted options. The exercise of options is funded using a special savings schemes which pays tax free bonuses. Company Share Option Plan: The company has discretion over which employees are granted share options, which can only be exercised every three years. Share Incentive Plan: All employees in the company are given either free shares, or pay for shares out of their pre tax salary or do a mixture of both. The shares however have to be retained for five years to maintain all the tax advantages. Enterprise Management Incentives Scheme: All or only certain employees in a qualifying company can be granted options with a value of up to ?100,000 per employee which can be exercised at any time.
If you want to become familiar with the description and the contents of UK company formation packages, offered by Coddan and to find above, what kind of service is included in this or that limited companies formation package, to get an idea about the price of annual renewal of the service, and about the general legal requirements to the company incorporation within United Kingdom, please, select the package you need from the list, situated below the banner. The information in the banner will be renewed according to the package you've chosen.
Live Help » Live Help is a real time "chat" feature which enables you to interact with a customer service representative without a phone call. Get answers to your questions while using our website. Clicking the "Live Help" button will start an on-line session with one of our representatives. Live Help is currently available during normal business hours. Outside of the above opening hours our business center will be closed. When you click on the button you will see an e-mail form that will allow you to send us a mail with your questions. Live Help is absolutely free! There are no hidden fees. We offer the service as a courtesy to our website visitors. Dear visitors, while having a chat session with a customer, we are frequently requested to give a piece of advice on tax planning or business structuring. We would like to inform you that it is against our principles to provide online advice pertaining to these issues. The points that may be covered during a session include service description, package or service price, navigation at our website, ways of making an order, methods of payment etc. Yet, if you wish us to provide you with advice on tax or business structuring, you should be aware that this service is chargeable. If you have any questions about the company establishment then please E-Mail or call us: Call FREE 0800 081 1510, Overseas Residents: +44 845 020 4269 or +44 20 7748 3039, Fax: +44 20 7681 3318.
SHARE OPTIONS - ENTERPRISE MANAGEMENT INCENTIVES The Enterprise Management Incentives (EMI) share scheme is intended to assist smaller high risk companies, especially those operating in the IT sector, by enabling them to grant tax efficient share options as a means to incentivise high calibre employees. Until now, companies wishing to use share options as a means to recruit and retain employees without offering high salaries have either had to suffer the consequences of potentially high taxes or alternatively set up cumbersome and restrictive approved share option schemes.
The new EMI scheme is intended to be considerably more tax efficient and flexible than the existing arrangements for share option schemes. For example: the EMI scheme requires no formal share option scheme - options are granted by a single written agreement with the relevant employee. There is no minimum exercise price (although if options are granted at a discount, there will be a tax liability on the discount). Options may vest immediately and may remain exercisable for up to 10 years. Options must be over fully paid up ordinary shares although the shares may have limited or no voting rights and may be subject to other restrictions.
There are a number of formalities - although there is no limit on the number of employees who may hold EMI options the value of options per employee is currently limited to £100,000. In addition there is an overall maximum limit of £3 million worth of shares over which EMI Options may be granted by any company. The company must agree the value of the shares with the Inland Revenue unless the shares are listed on a recognised investment exchange. In addition, the company must have gross assets of no more than £15,000,000. Options may not be granted over shares in a subsidiary company.
Full time employees may be granted EMI options. In addition, part timers will also qualify if they commit 75% or more of their working time to the business of the company. Consultants, non-executive directors and contractors will not qualify for EMI options.
EMI options may not be granted to any person who, together with their relatives and associates, holds more than 30% of the shares in the company.
Certain companies will not qualify for EMI options if their activities are designated as excluded activities. Examples of excluded activities include the following: dealing in land, commodities or futures etc. Dealing in goods otherwise than in the course of an ordinary trade of wholesale or retail distribution. Banking and related activities. Leasing or receiving royalties or licence fees. Legal or accounting services. Property development. Farming and woodlands. Hotel, nursing and care home management.
Companies can apply for advance assurances that they qualify for EMI.
If the option qualifies as an EMI option, the company must notify the Inland Revenue within 92 days of granting the options. The notice must be accompanied by the relevant form. The Inland Revenue has 12 months after it receives a notice to disqualify an option for EMI tax treatment.
OVERVIEW OF TAX ADVANTAGES. INCOME TAX No income tax or national insurance is payable on the grant of EMI options. In addition, provided that the exercise price is not less than the market value of the shares at the date of grant, no income tax or national insurance will be payable on exercise. If the EMI option is granted at a discount, income tax is payable on the amount of the discount.
CAPITAL GAINS TAX Capital gains tax is payable on any EMI shares at the time of their disposal. However EMI shares receive preferential treatment for capital gains tax purposes. They are treated as “business assets” for the purposes of capital gains tax taper relief and they are considered as being acquired at the date of grant. Therefore provided that the shares are sold at any time five years after the date of grant, capital gains tax will normally be taxed at the rate of 10% rather than 40%. The new EMI regime should be of great benefit to small companies wishing to incentivise their key employees by way of tax efficient options. The tax benefits will operate to the advantage of both the company and the option holder.
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Companies Law
Enterprise Management Incentives
