Starting a limited company in UK

[Tikru]

Hi,

I'm currently working for a major finnish IT-company. In few months me and my family are moving to UK.

I will start my own limited company. I we will do consulting work for my old employer and for some other finnish companies.

Basically, I'm ready to form the company through a "company formation"-provider on the internet.

Problem is we still don't have rented a house from UK. So i don't have any address in UK. That's a problem to open a business account for my company. I have personal bank account in UK because we lived there 7 years ago for few years.

I will buy a "registered office"-option with my company formation.

I start my consulting work in october. Should I VAT-register then and not now?. Company's income will be more than the vat-threshold. What about PAYE-registration.

I will get an accountant. but don't want to pay any expenses before company has bank account and some income.

Can I just start the company without VAT- and PAYE-registration and wait until I have home address in UK?

I still want to form the company now to get company number etc. for my contracts.

If my company has 1000 shares with £1 value each, do I have to invest £1000 to the company?

-Tomi-

[Bluebird]

you can open a company without registering for VAT & Paye.

When you do - probably best to use VAT Flat Rate Scheme - your accountant will sort that out for you.

Whatever "share" issue you start with should be paid to the company - if you start with 1000 shares you only have to issue 10 each [ therefore only paying £20 into the company ] - again you can sort this out with your company formation contact.
Have you tried UK-PLc ? I used them pretty good and cheap.

[Ardesco]

Get an accountant. They will be able to get the company up and running for you, most likely set up company bank account and you can use the accountants address as LTD Co registered office. Lots of accountants will set the company up for you for free as well.

[oraclesmith]

Although you can have a registered office anywhere you like, Companies House will insist that Directors, Company Sec. etc have private home addresses on their officer entry in the records. I believe you can use a non-UK address for this though.

[Cooperinliverp00l]

set up company get an accountant on board and register for your VAT a.s.a.p and you might just get the number come October

[ASB]

Tikru,

In your position it may be in your interest to obtain advice from some international specialists. Although you will resident in the UK you will not (usually) be domiciled here. This can have important impliocations for taxation of non uk source incomes. Basically if you structure it right then anything that is not remiited to the UK is not subject to UK taxation. Depending upon your exact circumstances this may enable some tax savings.

[malvolio]

True, but if you do aim to settle here for a while and want a fully setup UK company, take a look at http://www.pcg.org.uk/cms/index.php?...=2395&Itemid=1 and go for the Silver option.


Yeah, I know...

[Tikru]

The taxation part is easy. I have done it before

If will pay all my taxes to UK. Which is nice compared to finnish taxation

[Paddy]

The taxation part is easy. I have done it before

If will pay all my taxes to UK. Which is nice compared to finnish taxation

Finland, Finland, Finland,
The country where I want to be,
Pony trekking or camping,
Or just watching TV.
Finland, Finland, Finland.
It's the country for me.

You're so near to Russia,
So far from Japan,
Quite a long way from Cairo,
Lots of miles from Vietnam.

Finland, Finland, Finland,
The country where I want to be,
Eating breakfast or dinner,
Or snack lunch in the hall.
Finland, Finland, Finland.
Finland has it all.


You're so sadly neglected
And often ignored,
A poor second to Belgium,
When going abroad.

Finland, Finland, Finland,
The country where I quite want to be,
Your mountains so lofty,
Your treetops so tall.
Finland, Finland, Finland.
Finland has it all.

Finland, Finland, Finland,
The country where I quite want to be,
Your mountains so lofty,
Your treetops so tall.
Finland, Finland, Finland.
Finland has it all.

Finland has it all.

[ASB]

The taxation part is easy. I have done it before

If will pay all my taxes to UK. Which is nice compared to finnish taxation

Didn't think it was the taxes that was the killer in Finland. I thought it was the social security. Point was that if you are not domiciled in the UK and not resident in Finland you might not need to pay in either place (provided the time you spend in Finland does not keeep you nominally reisdent there and the funds don't get to the UK).