| |  |
|
(click here for other packages)
| |
Company Formation Home Page >> UK Tax Planning >> UK: Corporation Tax | 
| General Advantages Of Limited Liability Companies:
1. Liability is, in the vast majority of cases, strictly limited to the investments made by the shareholders.
2. Company Officers are not personally liable for their actions unless, in most instances, there is a clear and serious breach of their fiduciary duty.
3. Ironically, despite the limited liability, such entities often benefit from 'greater prestige' than their sole proprietorship or partnership counterparts. The reason is probably because such an enterprise normally requires more planning and thus is deemed more credible.
4. They often benefit from significant tax advantages. In fact, many countries around the world give exclusive tax incentives to this type of entity.
5. The rights of shareholders are normally clearly defined and protected. Promotes good record keeping.
6. Corporate taxes only become payable after the end of the financial year. This means that money that would otherwise be taxed on a monthly or quarterly basis is available to earn further money before the final payment of tax.
7. You must appoint a minimum of 1 Director.
8. Directors can be corporate bodies or private individuals.
9. A Director can be of any nationality.
10. All companies must appoint a company Secretary. A Secretary can be of any nationality.
 +44 (0) 207.748.3039
+44 (0) 800.081.1510
|
|
|
 |
UK CORPORATION TAX. INCORPORATE IN THE UNITED KINGDOM Welcome to Coddan online UK company registration agent website. We offer electronic British company registration and electronic filing of documents. Your English and Scottish company is registered electronically as soon as we receive your details (and payment) it could not be done any more easily or quickly. We review your choice of company name etc and Companies House make a number of checks (to verify the registered address details etc) and your company is registered as soon as this process is complete. It can take three hours, it may take twenty-three hours, it all depends on how busy Companies House staff and systems are. We send your package to you by first class recorded delivery, as part of the service. We also offer Nominee Company Secretary and Registered Office facilities in addition to UK company registrations. We will register your new company in the United Kingdom with your intended directors, company secretary, registered office and shareholders all in place and recorded at Companies House at the time of registration, although we can of course still use our nominees for incorporation purposes if you prefer. We complete all the minutes, statutory registers and official documents on your behalf, and ensure that all necessary forms and resolutions are correctly filed with the Registrar of Companies. If you want to become familiar with the description and the contents of online English, Scottish and Irish companies registration packages, offered by Coddan and to find above, what kind of service is included in this or that UK companies registration package, to get an idea about the price of annual fees, 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. All of our Memorandum and Articles of Associations and Partnership Agreements were reviewed and approved by a volunteer U.K. lawyer. Our products start from just £42.00 for our E-Quick service. This package offers fast electronic company registration documents and like all of our formation products is usually completed with in three hours.
Please note » The prices payable for the items that you order are clearly set out in the web site. There will be no contract of any kind between you and us unless and until we receive payment from you. We act as your agent in the incorporation of companies and electronic filing of Companies House forms. We are not able to guarantee that any such filing will be acceptable to Companies House, nor are there any contractual obligation upon us to do so. If Companies House rejects incorporation or other electronic filing, we will credit your account with a full refund and the contract between us will be made void. Companies House does not offer a cancellation facility for the incorporation of companies or the electronic filing of documents. We will be unable to cancel any such submission on your behalf and will not refund any payment you have made. All prices shown at Coddan Web Site (www.usaformation.com) are in Great British pounds.
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 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.
IMPORTANT NOTE Our corporate, tax and securities lawyers have extensive experience in the issues involved in all type 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 advise clients in the choice of entity to utilize 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 continue their representation of such entities on an ongoing basis and advise the entity and its owners regarding the business issues which arise from time to time (such as labor and employment issues, tax issues, negotiating contracts, securities issues and licensing and regulatory matters).
Our lawyers also represent many entities which are involved in negotiating mergers with other entities or acquisitions of other entities. This representation includes advising the business and the owners on the purchase or sale of a business and on tax-free mergers or other reorganizations of business entities, as well as structuring divisions of an existing entity into two or more new entities.
We structure a variety of commercial lending transactions including corporate loans, real estate development loans, asset based loans, agri-business loans, floor plans and home builder lines of credit. Members of our firm advise financial institution clients and their corporate counsel on a daily basis with respect to general lending issues including those relating to UK and Cyprus documentary stamp and intangible taxes, bankruptcy and creditors' rights, environmental concerns and problem loans. We have extensive experience in complex loan workouts.
The firm's Trusts and Estates attorneys specialize in estate and trust administration matters and the development of estate tax planning strategies designed to help our clients achieve maximum savings in income, estate, gift and generation skipping taxes. Our Trusts and Estates attorneys handle the traditional aspects of personal estate planning, such as the preparation of revocable trusts, wills and irrevocable trusts, and also deal with all aspects of tax controversies with the Internal Revenue Service dealing with estate, gift and generation skipping tax, including filing estate and gift tax returns, representing our clients in audits of those returns, and appeals to the IR and courts of proposed tax deficiencies.
Our attorneys monitor the latest developments in both tax and non-tax laws affecting estates and trusts and lecture extensively on those subjects around the country to numerous professional groups and organizations. The firm's Trust and Estate attorneys are proficient in analyzing and implementing the latest techniques to reduce estate and gift taxes, including, for example, family limited partnerships, GRATS and charitable remainder and lead trusts. The firm's Trusts and Estates attorneys also advise our clients on the income, gift and estate tax consequences of charitable gifts; handle the negotiation and preparation of marital agreements; provide asset protection planning for individuals; and have extensive experience in the establishment of private and publicly supported charitable organizations, international estate planning and estate and trust litigation, as well as post-mortem tax planning.
We recognize that a client's estate planning needs and matters that arise in the course of estate planning and administration frequently require expertise in other areas of the law, and we work closely with the firm's attorneys in other practice areas, including litigation, real estate, corporate and tax, to provide our clients with thorough legal advice.
ACCOUNTING PERIOD An accounting period cannot be more than 12 months. If a company prepares accounts for more than 12 months, the profits are apportioned between the first 12 months and the remainder. Non-resident companies may be subject to CT where they trade in the UK through a permanent establishment. Accounting period: A company incorporated in the UK is treated as UK resident. A non-UK incorporated company is treated as resident in the UK if its central management and control is exercised in the United Kingdom. The amounts of income and capital gains are basically determined by the tax rules that apply to individuals. For example, trading profits may be reduced by allowable expenditure incurred wholly and exclusively for the trade. However, companies are subject to many special rules.
CAPITAL GAINS A company's capital gains are subject to CT at the normal rates. Companies continue to receive indexation relief on gains and do not receive taper relief. Capital gains may be offset by capital losses of the same accounting period or capital losses brought forward from previous periods. Roll-over relief is available, but not reinvestment relief. Companies are subject to different identification rules from individuals for disposals of shares and securities.
RATES OF TAX The rate of CT is fixed for the financial year ending each 31 March. Where an accounting period straddles this date, the profits are apportioned accordingly. The main rate of CT is 30%. This is charged where profits exceed £1,500,000, and in all cases for close investment-holding companies. The small companies rate of 20% is charged on the first £300,000 of profits where profits are between £50,000 and £1,500,000. Between the lower and upper profit thresholds (£300,000– £1,500,000), profits are in effect charged at a marginal rate of tax of 32.5%. Starting with the year to 31 March 2001, a company with taxable profits up to £50,000 is charged at a starting rate of 10% on the first £10,000 and an effective marginal rate of 22.5% on the next £40,000. Where a company has associated companies, all the rate thresholds are divided by the number of associated companies plus one. For example, a company with three associated companies will be taxed at 20% on profits between £12,500 (£50,000 divided by four) and £75,000 (£300,000 divided by four). Associated companies are broadly companies under common control.
COMPANY LOSSES A company's trading losses can normally be set against: Income and gains of the same accounting period. Income and gains of the previous year. Trading profits from the same trade in future years.
DIVIDENDS, DISTRIBUTIONS AND ADVANCE CORPORATION TAX (ACT) Companies do not have to pay tax at the time they pay a dividend. Corporation tax is paid at the normal time on the company's taxable profits without any deduction for dividends paid. A shareholder receives the dividend with an accompanying tax credit equal to 10% of the dividend plus tax credit. The tax credit is equivalent to the basic rate of income tax on dividends. Companies pay no tax on dividends received. Companies that paid dividends before 6 April 1999 had to pay advance corporation tax (ACT) of one-quarter of the dividend. The ACT could usually be set against a company's CT liability. The maximum ACT that could be offset was an amount equal to 20% of the company's chargeable profits, and surplus ACT could be carried back against profits of up to the previous six years. Any surplus ACT at 5 April 1999 that was not relieved in this way may be carried forward to periods after 5 April 1999 and set against CT after deducting "shadow ACT". Shadow ACT is equal to one-quarter of any dividends paid in the period, ie the ACT that would have been paid if the dividend had been paid before 6April 1999.
|
|
Tax Planning
UK: Corporation Tax
£ 150.00
Bookkeeping & Accounting: We can relieve you and your staff of an enormous burden by taking care of all your bookkeeping and accounting needs, including the preparation of your annual accounts.
You can choose as many of our services as you need. Here's what we offer:
