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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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(click here for other packages)
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| Income Tax (Trading and Other Income) Act 2005 | | 2005 Chapter 5 - continued | | PART 3, PROPERTY INCOME - continued |
| | back to previous text |  | | | | CHAPTER 3 | | | PROFITS OF PROPERTY BUSINESSES: BASIC RULES | | |
Charge to tax on profits of a property business | | 268 | Charge to tax on profits of a property business
| | | Income tax is charged on the profits of a property business.
| | 269 | Territorial scope of charge to tax
| | | (1) Profits of a UK property business are chargeable to tax under this Chapter whether the business is carried on by a UK resident or a non-UK resident.
| | | (2) Profits of an overseas property business are chargeable to tax under this Chapter only if the business is carried on by a UK resident.
| | | (3) But, in the case of an overseas property business carried on by a UK resident to whom the remittance basis applies, the only profits of the business chargeable to tax under this Chapter are those in respect of land in the Republic of Ireland.
| | | (4) For a UK resident to whom the remittance basis applies, see also Chapter 11 (charge to tax on overseas property income other than income arising in Republic of Ireland).
| | 270 | Income charged
| | | (1) Tax is charged under this Chapter on the full amount of the profits arising in the tax year.
| | | (2) Subsection (1) is subject to Part 8 (foreign income: special rules).
| | 271 | Person liable
| | | The person liable for any tax charged under this Chapter is the person receiving or entitled to the profits.
| | |
Calculation of profits | | 272 | Profits of a property business: application of trading income rules
| | | (1) The profits of a property business are calculated in the same way as the profits of a trade.
| | | (2) But the provisions of Part 2 (trading income) which apply as a result of subsection (1) are limited to the following-
| | |
In Chapter 3 (basic rules)- |
section 25 |
generally accepted accounting practice |
section 26 |
losses calculated on same basis as profits |
section 27 |
receipts and expenses |
section 28 |
items treated under CAA 2001 as receipts and expenses |
section 29 |
interest |
In Chapter 4 (rules restricting deductions)- |
section 33 |
capital expenditure |
section 34 |
expenses not wholly and exclusively for trade and unconnected losses |
section 35 |
bad and doubtful debts |
sections 36 and 37 |
unpaid remuneration |
sections 38 to 44 |
employee benefit contributions |
sections 45 to 47 |
business entertainment and gifts |
sections 48 to 50 |
car or motor cycle hire |
section 51 |
patent royalties |
section 52 |
exclusion of double relief for interest |
section 53 |
social security contributions |
section 54 |
penalties, interest and VAT surcharges |
section 55 |
crime-related payments |
In Chapter 5 (rules allowing deductions)- |
section 57 |
pre-trading expenses |
sections 58 and 59 |
incidental costs of obtaining finance |
section 68 |
replacement and alteration of trade tools |
section 69 |
payments for restrictive undertakings |
sections 70 and 71 |
seconded employees |
section 72 |
payroll deduction schemes: contributions to agents' expenses |
sections 73 to 75 |
counselling and retraining expenses |
sections 76 to 80 |
redundancy payments etc. |
section 81 |
personal security expenses |
sections 82 to 86 |
contributions to local enterprise organisations or urban regeneration companies |
sections 87 and 88 |
scientific research |
sections 89 and 90 |
expenses connected with patents, designs and trade marks |
section 91 |
payments to Export Credits Guarantee Department |
In Chapter 6 (receipts)- |
section 96 |
capital receipts |
section 97 |
debts incurred and later released |
section 104 |
distribution of assets of mutual concerns |
section 105 |
industrial development grants |
section 106 |
sums recovered under insurance policies etc. |
In Chapter 7 (gifts to charities etc.)- |
section 109 |
receipt by donor or connected person of benefit attributable to certain gifts |
In Chapter 11 (other specific trades)- |
section 155 |
levies and repayments under FISMA 2000 |
In Chapter 13 (deductions from profits)- |
sections 188 to 191 |
unremittable amounts |
| | | (3) In those provisions the expression "this Part" is to be read as a reference to those provisions as applied by subsection (2) and to the other provisions of Part 3.
| | 273 | Amounts not brought into account as part of a property business
| | | (1) The rules for calculating the profits of a property business need to be read with the following provisions of Part 2 (trading income)-
| | | (a) section 19 (tied premises), | | | (b) section 20 (caravan sites where trade carried on), | | | (c) section 21 (surplus business accommodation), and | | | (d) section 22(3) (payments for wayleaves). | | | (2) Those provisions secure that amounts which would otherwise be brought into account in calculating the profits of the business are, or may be, brought into account instead in calculating the profits of a trade.
| | 274 | Relationship between rules prohibiting and allowing deductions
| | | (1) Any relevant permissive rule in this Part-
| | | (a) has priority over any relevant prohibitive rule in this Part, but | | | (b) is subject to sections 48 (car or motor cycle hire) and 55 (crime-related payments), as applied by section 272. | | | (2) In this section "any relevant permissive rule in this Part" means any provision of this Part (apart from sections 291 to 294) which allows a deduction in calculating the profits of a property business.
| | | (3) In this section "any relevant prohibitive rule in this Part", in relation to any deduction, means any provision of this Part (apart from sections 48 and 55, as applied by section 272) which might otherwise be read as-
| | | (a) prohibiting the deduction, or | | | (b) restricting the amount of the deduction. | | | (4) In this section any reference to any provision of this Part includes any provision applied by section 272.
| | |
Apportionment of profits | | 275 | Apportionment etc. of profits to tax year
| | | (1) This section applies if a period of account of a property business does not coincide with a tax year.
| | | (2) Any of the following steps may be taken if they are necessary in order to arrive at the profits or losses of the tax year-
| | | (a) apportioning the profits or losses of a period of account to the parts of that period falling in different tax years, and | | | (b) adding the profits or losses of a period of account (or part of a period) to profits or losses of other periods of account (or parts). | | | (3) The steps must be taken by reference to the number of days in the periods concerned.
| | | (4) But the person carrying on the business may use a different way of measuring the length of the periods concerned if-
| | | (a) it is reasonable to do so, and | | | (b) the way of measuring the length of periods is used consistently for the purposes of the business. | | | 
| | |   | | | | | | 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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