It is becoming a popular and paying strategy to register a business in UK.
Even those businesses that are set up elsewhere want to register a business in UK.
The reasons for this enthusiasm are clear.
Registering and setting up a business in the UK is a fairly straightforward procedure.
It is easy, quick and profitable.
There are tax benefits to be thought of besides the highly streamlined process that is available for incorporating a business in UK.
Fortunately, registering a business in the UK follows well established guidelines.
So, there is no need for any confusion.
The first step is to have a physical address in the UK.
This is not a problem for native residents.
However, foreign companies may require a temporary office address before they can set up their actual office.
In this case, the company can pay a small amount to a solicitor and use their address temporarily.
An address in England, Wales or Scotland would do.
Mind you, all official communication must carry this address.
Also, copies of official documents have to be kept at this address.
Equally important is the decision regarding the business structure.
There are a number of structures to choose from.
Most small businesses prefer to become sole proprietorships because this is the quickest and the least complicated route.
However, in case the business is big enough, it might be better to consider a partnership or a Limited Liability Company.
The last thing to do before you register a business in UK is choose the name of your company or business.
The name has to be unique and there should be no copyright violations.
Legally, that is all there is to choosing the name of your business.
But, remember that you have to live with the name you choose for a long, long time.
So, apply some thought and choose wisely.
After this, you can fill out forms 10 and 12.
Form 12 requires the presence of a solicitor, notary and justice of peace or a commissioner of oaths before it can be signed.
The Memorandum of Association lists the address and name of the company along with the company's assets and liabilities.
The Articles of Incorporation (as the name suggests) deals with the structure of the company and lays down the company's policies regarding voting and other activities that govern the operation of the business.
Understandably, this form will be signed by shareholders too.
These forms must be duly filled and signed and submitted to the Companies House for assessment.
You can then open a bank account in the name of your company/business.
Once the formalities are over, you will have to start with insurance policies and payment of tax etc.
Keep all documents safely because a new legislation introduced in April 2009 imposes penalties if records and tax returns are not maintained properly.
Even those businesses that are set up elsewhere want to register a business in UK.
The reasons for this enthusiasm are clear.
Registering and setting up a business in the UK is a fairly straightforward procedure.
It is easy, quick and profitable.
There are tax benefits to be thought of besides the highly streamlined process that is available for incorporating a business in UK.
Fortunately, registering a business in the UK follows well established guidelines.
So, there is no need for any confusion.
The first step is to have a physical address in the UK.
This is not a problem for native residents.
However, foreign companies may require a temporary office address before they can set up their actual office.
In this case, the company can pay a small amount to a solicitor and use their address temporarily.
An address in England, Wales or Scotland would do.
Mind you, all official communication must carry this address.
Also, copies of official documents have to be kept at this address.
Equally important is the decision regarding the business structure.
There are a number of structures to choose from.
Most small businesses prefer to become sole proprietorships because this is the quickest and the least complicated route.
However, in case the business is big enough, it might be better to consider a partnership or a Limited Liability Company.
The last thing to do before you register a business in UK is choose the name of your company or business.
The name has to be unique and there should be no copyright violations.
Legally, that is all there is to choosing the name of your business.
But, remember that you have to live with the name you choose for a long, long time.
So, apply some thought and choose wisely.
After this, you can fill out forms 10 and 12.
Form 12 requires the presence of a solicitor, notary and justice of peace or a commissioner of oaths before it can be signed.
The Memorandum of Association lists the address and name of the company along with the company's assets and liabilities.
The Articles of Incorporation (as the name suggests) deals with the structure of the company and lays down the company's policies regarding voting and other activities that govern the operation of the business.
Understandably, this form will be signed by shareholders too.
These forms must be duly filled and signed and submitted to the Companies House for assessment.
You can then open a bank account in the name of your company/business.
Once the formalities are over, you will have to start with insurance policies and payment of tax etc.
Keep all documents safely because a new legislation introduced in April 2009 imposes penalties if records and tax returns are not maintained properly.