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Best Company Formation Service London UK
Company formation in United Kingdom creates a legal entity or structure to conduct business activities in the UK or internationally. It involves registering a new business or transforming an existing entity to meet legal and regulatory requirements, enabling it to operate within the bounds of UK law.
Types of Company Formation in United Kingdom
1) Private Limited Company (Ltd)
It is a separate legal entity with limited liability, often the preferred choice for small to medium-sized enterprises.
2) Public Limited Company (PLC)
It is a publicly-traded company with publicly available shares, subject to more stringent regulatory requirements.
3) Sole Trader
A business owned and operated by a single individual, personally responsible for all aspects of the company.
It is a business owned and managed by two or more individuals who share profits and responsibilities.
5) Limited Liability Partnership (LLP)
It is a hybrid structure providing limited liability to partners, combining aspects of partnerships and limited companies.
What is Process of Company Formation Service in UK
- Choose a Business Structure: Select the appropriate business structure, such as a private limited company, public limited company, sole trader, partnership, or limited liability partnership (LLP), based on your business needs.
- Choose a Company Name: Select a unique and suitable name for your company that adheres to UK naming regulations.
- Register the Company: Complete the necessary paperwork and register your company with the appropriate government authorities, typically Companies House.
- Submit Required Documentation: Provide essential documentation, including articles of association, memorandum of association, and details of company directors and shareholders.
- Obtain Necessary Approvals: Ensure all required approvals are obtained, including tax registrations and relevant licenses for the type of business.
- Register for Taxes: Register for the relevant taxes, such as Corporation Tax, VAT, and Payroll Outsourcing or PAYE (Pay As You Earn) for employees.
Benefits of Company Formation in London UK
Limited Liability: Shareholders’ assets are protected, and their liability is limited to their investment in the company.
- Credibility: Registered businesses often gain more credibility and trust from customers, suppliers, and investors.
- Tax Efficiency: The UK offers competitive tax rates and various tax incentives for businesses, promoting growth and profitability.
- Access to Funding: Easier access to funding through investors, loans, or grants for registered companies.
- Global Reach: Establishing a presence in the UK allows businesses to expand and tap into the worldwide market.
Documents Required For Company Formation in UK
- Memorandum of Association: A document that sets out the company’s name, location, and the fact that subscribers wish to join the company.
- Articles of Association: Rules and regulations that govern the company’s internal affairs, including details about shares, directors, and meetings.
- Form IN01 (Application to Register a Company): This form contains information about the company, such as the registered office address, details of directors, secretary (if applicable), and shareholders.
- Details of Shareholders: Information about the shareholders, including their full names, addresses, occupations, and shareholding details.
- Details of Directors: Information about the company directors, including their full names, service address, residential address, date of birth, nationality, occupation, and any former names.
- Registered Office Address: The address where official communications and notices will be sent. It can be a physical location or a service address.
- Share Capital and Share Structure: Information about the company’s share capital, including the total number of shares, their nominal value, and how they are divided among shareholders.
- Consent to Act as a Director: Signed consent forms from individuals agreeing to act as company directors.
- Form of Statement of Initial Persons of Significant Control (PSC): Information about individuals or entities with significant control or ownership in the company.
- Bank Statement or Utility Bill: Proof of registered office address, usually a recent bank statement or utility bill.
- Identification and Address Verification: Proof of identity and address for each director, shareholder, and person of significant control. It could be a valid passport, driver’s license, or national ID card.
- Declaration of Compliance: A statement confirming that all legal requirements for company formation have been met.
Why Choose Galaxy Accountancy for Limited Company Setup
- Expertise and Experience: Our seasoned professionals possess in-depth knowledge and extensive experience in UK company formation processes.
- Tailored Solutions: We offer customised solutions, guiding you to choose the most suitable company structure aligned with your business goals.
- Compliance and Efficiency: We ensure that all legal and regulatory requirements are met efficiently, saving you time and hassle.
- Comprehensive Support: Beyond company formation, we provide ongoing support and guidance to help your business thrive and grow in the UK market.
- Client-Centric Approach: Your success is our priority, and we are dedicated to providing exceptional service and support at every stage of your business journey.
With Galaxy Accountancy is best company formation accountant service provider in London UK. The knowledge and commitment to your success, start your business venture in the UK with confidence. Contact us today, and let’s start building your business dreams together!