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Deluxe Package |
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£ 557.00 | Annual Maintenance Fee £525.00 | |  |
The Deluxe limited company package is a fast and easy option, it is ideal for the UK, EU, and international small to medium businesses who wish to appoint a nominee director and a nominee secretary in order to maintain anonymity, and it includes: -
Incorporation of your company from scratch using one of our registered office addresses in London, our nominee director and nominee secretary. We can appoint your own candidate(s) to the role of shareholder(s), or you can appoint a nominee sharholder provided by Coddan;
The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (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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| Legal Requirements to Register an LTD | |  |
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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| Income Tax (Trading and Other Income) Act 2005 | | 2005 Chapter 5 - continued | | PART 4, SAVINGS AND INVESTMENT INCOME - continued |
| | back to previous text |  | | | | CHAPTER 6 | | | RELEASE OF LOAN TO PARTICIPATOR IN CLOSE COMPANY | | 415 | Charge to tax under Chapter 6 | | | (1) Income tax is charged if- | | | (a) a company is or has been assessed or is liable to be assessed under section 419 of ICTA (loans to participators in close companies etc.) in respect of a loan or advance, and | | | (b) the company releases or writes off the whole or part of the debt in respect of the loan or advance. | | | (2) Subsection (1) is subject to section 418 (relief where borrowers liable as settlors). | | | (3) Subsection (4) applies if section 419 of ICTA has effect under section 422 of that Act (extension of section 419 to loans by companies controlled by close companies) as if a loan or advance had been made by a company ("A"), rather than the company ("B") which- | | | | | | (b) is regarded as having made it under section 419(2) of that Act (deemed loans where debt incurred or assigned to close company), or | | | (c) would be so regarded if it were a close company. | | | (4) If the whole or part of the debt is released or written off by B, for the purposes of subsection (1), A rather than B is treated as releasing it or writing it off. | | | (5) Expressions used in this Chapter have the same meanings as if they were in section 419 of ICTA. | | 416 | Income charged | | | (1) Tax is charged under this Chapter on the gross amount of the debt released or written off in the tax year. | | | (2) The "gross amount" is the amount released or written off, grossed up by reference to the dividend ordinary rate for that year. | | | (3) For the purposes of calculating the total income of the person liable for the tax, the amount charged is treated as income. | | | (4) This section is subject to section 418 (relief where borrowers liable as settlors). | | 417 | Person liable | | | (1) The person liable for any tax charged under this Chapter is the person to whom the loan or advance was made. | | | (2) This is subject to- section 419 (loans and advances to persons who die), and section 420 (loans and advances to trustees of trusts that have ended). | | 418 | Relief where borrowers liable as settlors | | | (1) Relief is given under this section if the person to whom the loan or advance was made- | | | (a) is liable for the tax year for income tax on a sum in respect of it under Chapter 5 of Part 5 as a result of section 633 (capital sums paid to settlor by trustees of settlement), or | | | (b) has been so liable for any previous tax year. | | | (2) If the total amount previously charged (see subsection (4)) equals or exceeds the total amount released (see subsection (6)), tax is not charged under this Chapter. | | | (3) If the total amount released exceeds the total amount previously charged, tax is charged under this Chapter on the excess, grossed up by reference to the dividend ordinary rate. | | | (4) In this section "the total amount previously charged" means the total of- | | | (a) the sums included in the person's income under section 633 in respect of the loan or advance for the tax year or for previous tax years, and | | | (b) the amounts charged under this Chapter in respect of the loan or advance for previous tax years. | | | (5) For the purposes of subsection (4)(a), section 640(1) (which requires the grossing up of the sums treated as paid to the settlor by reference to the rate applicable to trusts) is ignored. | | | (6) In this section "the total amount released" means the total amount released or written off in respect of the loan or advance in the tax year and previous tax years. | | 419 | Loans and advances to persons who die | | | (1) This section applies if- | | | (a) a loan or advance is made to a person who dies, | | | (b) a company is or has been assessed or is liable to be assessed under section 419 of ICTA (loans to participators in close companies etc.) in respect of the loan or advance, and | | | (c) after the death the company releases or writes off the whole or part of the debt in respect of the loan or advance. | | | (2) Tax is not charged under this Chapter if at the time of the release or writing off the debt is due from the person's personal representatives in that capacity, but see- | | | (a) section 664 (under which the amount that would be so charged is treated as part of the aggregate income of the estate for the purposes of Chapter 6 of Part 5), and | | | (b) section 701(8) of ICTA (under which similar provision is made for the purposes of Part 16 of ICTA). | | | (3) If subsection (2) does not apply, tax is charged under this Chapter on the person from whom the debt is due at the time of release or writing off. | | 420 | Loans and advances to trustees of trusts that have ended | | | (1) This section applies if- | | | (a) a loan or advance is made to trustees of a trust, | | | (b) a company is or has been assessed or is liable to be assessed under section 419 of ICTA (loans to participators in close companies etc.) in respect of the loan or advance, and | | | (c) after the trust has ended the company releases or writes off the whole or part of the debt in respect of the loan or advance. | | | (2) Tax is charged under this Chapter on the person from whom the debt is due at the time of release or writing off. | | 421 | Income tax treated as paid | | | (1) A person liable to income tax under this Chapter is treated as having paid income tax at the dividend ordinary rate on the amount charged under this Chapter. | | | (2) The income tax treated as paid under subsection (1) is not repayable. | | | (3) The amount on which an individual is treated under subsection (1) as having paid income tax is reduced if subsection (4) applies. | | | (4) This subsection applies if the individual's total income is reduced by any deductions which fall to be made from the part of the income charged under this Chapter. | | | (5) The reduction is equal to the total amount of those deductions. | | | 
| | |   | | | | | | Other UK Acts | Home | Scotland Legislation | Wales Legislation | Company Formation Online | Company Formations in Republic of Ireland | Company Registration in Northern Ireland | Incorporate in California, Nevada, Florida and New York | Incorporate Offshore |
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 | © Crown copyright 2005 | Prepared 29 March 2005 |
Income Tax (Trading and Other Income) Act 2005 is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO. Publishing Rights: Coddan CPM Core Licence (HMSO) number is C02W0007897 issued on 25 November 2005 by HMSO Licensing Division (Core Licence.pdf Licence to reproduce public sector information).
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