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Ready-Made Incorporated Limited Companies & Information About Starting Up a New Business
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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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| Finance Act 1989 | | 1989 c. 26 - continued |
| | back to previous page | | SCHEDULE 7 | | Section 77. | | | | Personal Pension Schemes | | | Part I | | | Amendments of Taxes Act | | 1. Chapter IV of Part XIV of the Taxes Act 1988 (personal pension schemes) shall be amended as mentioned in the following provisions of this Part of this Schedule. | | 2.(1) Section 635 (lump sum to member) shall be amended as follows.
(2) The following subsection shall be substituted for subsection (3) (lump sum not to exceed one quarter of value of benefits for member)| | "(3) The lump sum must not exceed one quarter of the difference between (a) the total value, at the time when the lump sum is paid, of the benefits provided for by the arrangements made by the member in accordance with the scheme, and (b) the value, at that time, of such of the member's rights under the scheme as are protected rights for the purposes of the [1986 c. 50.] Social Security Act 1986 or the [S.I. 1986/1888 (N.I. 18).] Social Security (Northern Ireland) Order 1986. " |
(3) Subsection (4) (lump sum not to exceed £150,000 or sum specified by Treasury by order) shall cease to have effect.
(4) This paragraph shall have effect in relation to the approval of a scheme on or after the day on which this Act is passed; but if the scheme came into existence before that day sub-paragraph (2) above shall not have effect as regards arrangements made by a member in accordance with the scheme before that day. | | 3.(1) In section 640 (maximum amount of deductions) the following table shall be substituted for the table in subsection (2) (maximum amount by reference to age) | | 36 to 45 | 20 per cent. | | 46 to 50 | 25 per cent. | | 51 to 55 | 30 per cent. | | 56 to 60 | 35 per cent. | | 61 or more | 40 per cent. |
(2) This paragraph shall have effect for the year 1989-90 and subsequent years of assessment. | | 4.(1) The following section shall be inserted after section 640 "Earnings cap.
| 640A. (1) In arriving at an individual's net relevant earnings for a year of assessment for the purposes of section 640 above, any excess of what would be his net relevant earnings for the year (apart from this subsection) over the allowable maximum for the year shall be disregarded.
(2) In subsection (1) above "the allowable maximum" means, as regards a particular year of assessment, the figure found for that year by virtue of subsections (3) and (4) below.
(3) For the year of assessment 1989-90 the figure is £60,000.
(4) For the year of assessment 1990-91 and any subsequent year of assessment the figure is the figure found for that year, for the purposes of section 590C, by virtue of section 590C(4) and (5). " |
(2) This paragraph shall have effect for the year 1989-90 and subsequent years of assessment. | | 5.(1) Section 644 (meaning of relevant earnings) shall be amended as follows.
(2) In subsection (2) for "(5)" there shall be substituted "(6F)".
(3) The following subsections shall be inserted after subsection (6)| | "(6A) Emoluments of an individual as an employee of a company are not income within subsection (2) above if (a) he is a controlling director of the company at any time in the year of assessment in question or has been a controlling director of the company at any time in the ten years immediately preceding that year of assessment, and (b) any of subsections (6B) to (6E) below applies in his case. | | | (6B) This subsection applies in the case of the individual if (a) at any time in the year of assessment in question he is in receipt of benefits under a relevant superannuation scheme, and (b) the benefits are payable in respect of past service with the company. | | | (6C) This subsection applies in the case of the individual if (a) at any time in the year of assessment in question he is in receipt of benefits under a personal pension scheme, (b) the scheme has received a transfer payment relating to him from a relevant superannuation scheme, and (c) the transfer payment is in respect of past service with the company. | | | (6D) This subsection applies in the case of the individual if (a) at any time in the year of assessment in question he is in receipt of benefits under a relevant superannuation scheme, (b) the benefits are payable in respect of past service with another company, (c) the emoluments are for a period during which the company mentioned in subsection (6A) above has carried on a trade or business previously carried on by the other company, and (d) the other company carried on the trade or business at any time during the period of service in respect of which the benefits are payable. | | | (6E) This subsection applies in the case of the individual if (a) at any time in the year of assessment in question he is in receipt of benefits under a personal pension scheme, (b) the scheme has received a transfer payment relating to him from a relevant superannuation scheme, (c) the transfer payment is in respect of past service with another company, (d) the emoluments are for a period during which the company mentioned in subsection (6A) above has carried on a trade or business previously carried on by the other company, and (e) the other company carried on the trade or business at any time during the period of service in respect of which the transfer payment was made. | | | (6F) For the purposes of subsections (6A) to (6E) above (a) a person is a controlling director of a company if he is a director (as defined by section 612(1)), and he is within paragraph (b) of section 417(5), in relation to the company; (b) "relevant superannuation scheme" has the same meaning as in section 645(1); (c) references to benefits payable in respect of past service with a company include references to benefits payable partly in respect of past service with the company; and (d) references to a transfer payment in respect of past service with a company include references to a transfer payment partly in respect of past service with the company. " |
(4) This paragraph shall be deemed to have come into force on 6th April 1989. | | 6.(1) Section 645 (earnings from pensionable employment) shall be amended as follows.
(2) In subsection (1)(c) for the words "neither subsection (4) nor subsection (5) below applies" there shall be substituted the words "subsection (4) below does not apply".
(3) In subsection (3) the word "and" following paragraph (a) shall be omitted and after paragraph (b) there shall be inserted | | "and | | | (c) which is of a description mentioned in section 596(1)(a), (b) or (c)." |
(4) After subsection (4) there shall be inserted| | "(4A) Where the emoluments from an office or employment held by an individual are foreign emoluments within the meaning of section 192, this section shall have effect with the substitution of the following for paragraph (c) of subsection (3) above| | " (c) which corresponds to a scheme of a description mentioned in section 596(1)(a), (b) or (c)." | " |
(5) Subsection (5) shall cease to have effect.
(6) This paragraph shall be deemed to have come into force on 6th April 1989. | | 7.(1) In section 646 ("net relevant earnings") in subsection (1) after the words "(7) below" there shall be inserted the words "and section 646A".
(2) This paragraph shall have effect for the year 1989-90 and subsequent years of assessment. | | 8.(1) The following section shall be inserted after section 646 "Earnings from associated employments.
| 646A. (1) This section applies where in the year of assessment in question (a) an individual holds two or more offices or employments which are associated in that year, (b) one or more of them is an office or employment to which section 645 applies ("pensionable job"), and (c) one or more of them is an office or employment to which that section does not apply ("non-pensionable job").
(2) Where the emoluments for that year from the pensionable job (or jobs) are equal to or exceed the allowable maximum for that year, section 646(1) shall have effect in the case of the individual as if the references to relevant earnings were references to relevant earnings not attributable to the non-pensionable job (or jobs).
(3) Where the allowable maximum for that year exceeds the emoluments for that year from the pensionable job (or jobs), the individual's net relevant earnings, so far as attributable to the non-pensionable job (or jobs), shall not be greater than the amount of the excess.
(4) For the purposes of this section two or more offices or employments held by an individual in a year of assessment are associated in that year if the employers in question are associated at any time during it.
(5) For the purposes of subsection (4) above, employers are associated if (directly or indirectly) one is controlled by the other or if both are controlled by a third person.
(6) In subsection (5) above the reference to control, in relation to a body corporate, shall be construed (a) where the body corporate is a close company, in accordance with section 416, and (b) where it is not, in accordance with section 840.
(7) In this section "the allowable maximum" has the same meaning as in section 640A(1). " |
(2) This paragraph shall have effect for the year 1989-90 and subsequent years of assessment. | | 9. In section 655(5) (provisional approval in the case of applications made before 1st February 1990) the words "in cases where the applications are made before 1st February 1990" shall be omitted. | | | Part II | | | Schemes Approved Before Passing of This Act | | | Interpretation | | 10. In this Part of this Schedule (a) "personal pension scheme" has the same meaning as in Chapter IV of Part XIV of the Taxes Act 1988, and (b) references to approval of such a scheme do not include references to provisional approval under regulations made under section 655(5) of that Act. | | | Lump sum to member | | 11.(1) This paragraph applies as regards arrangements made by a member of a personal pension scheme approved by the Board before the day on which this Act is passed, if the arrangements are made by the member in accordance with the scheme on or after that day.
(2) The rules of the scheme shall have effect (notwithstanding anything in them to the contrary) as if any limitation imposed on the maximum amount payable to the member by way of lump sum, and imposed by reference to a fraction of the total value of the benefits for him provided for by the arrangements, were imposed by reference to the same fraction of the difference between (a) the total value, at the time when the lump sum is paid, of the benefits provided for by the arrangements, and (b) the value, at that time, of such of his rights under the scheme as are protected rights for the purposes of the [1986 c. 50.] Social Security Act 1986 or the [S.I. 1986/1888 (N.I. 18).] Social Security (Northern Ireland) Order 1986. | | 12.(1) This paragraph applies where on or after the day on which this Act is passed a lump sum becomes payable under a personal pension scheme approved by the Board before that day.
(2) The rules of the scheme shall have effect (notwithstanding anything in them to the contrary) as if any limitation imposed on the maximum amount payable to a member by way of lump sum, and imposed by reference to a figure, did not apply.
(3) The reference in sub-paragraph (2) above to a limitation imposed on the maximum amount payable to a member by way of lump sum does not include a reference to a limitation imposed on the maximum amount so payable out of a transfer payment. | | | | |   
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 | © Crown copyright 1989 | Prepared 20th September 2000 |
Finance Act 1989 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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