If you are thinking about setting up a business, and need it done quickly and easily with no additional requirements, then this package is the perfect choice.
This package is a cheap and efficient way to begin business, and includes the provision of a registered office address in London for the duration of one year.
This package is a not expensive and efficient way to begin business, and includes the provision of a registered office address in London and a nominee secretary for the duration of one year.
This package is one of the most cost effective and the efficient way to start a UK company, which includes a registered office address in London, a nominee secretary, and a nominee director for the duration of one year.
E-quick*
£32.00
Economy
£82.00
Premier
£207.00
Deluxe
£557.00
Usefull links
Further information
Private company limited by shares
No Annual Charges
Private company limited by shares
Annual Fee From: £50.00
Private company limited by shares
Annual Fee From: £175.00
Private company limited by shares
Annual Fee From: £525.00
Usefull links
Further information
Private Company Limited by Shares:
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.
Coddan offers company formation, ready-made company registration for UK limited companies.
We offer electronic filing enterprises & registering corporation services. In addition to
business registrations, we offer trademark registration, shareholder agreements, toll-free
numbers, telephone answering, virtual office and company searches for UK limited companies.
You are an accountant for whom company establishment is a frequent activity or an individual
ordering your first company registrations. Start a company by incorporating or forming a LTD,
PLC or LLP at Coddan. Learn about incorporation & how to incorporate your business
online: register a business name, company registration, business registration numbers, company
house web filing - business name registration check. Whether you start-up online, register
London business or form a corporation Scotland, we can help you understand the business start-up
process for filing LTD United Kingdom.
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Incorporate or form an LLC – online: company registrar
United Kingdom, limited company formations & corporation registration, electronically LLC
online, very easy and informative. In addition to private companies Great Britain, we offer
trademark registration, shareholder agreements, 0870 numbers, telephone answering, virtual office and company searches for English companies. Information to help start,
grow or manage a small business. If you are starting a business Edinburgh or starting own business Northern Ireland, read our starting business Republic of Ireland guide.
Home business and small business training and ideas site to help you start Belfast, grow, and expand a home-based business or search for the work at home job right.
An outline of the general steps for incorporation in Great Britain, explaining how to incorporate your business Dublin, from choosing where to incorporate your business.
UK ready-made company formation services and company registrations online, our offices keep a stock of ready made companies, and would be happy to supply details on request.
We offer offshore ready-made companies in different jurisdictions, readymade offshore companies also called as offshore shelf companies, shelf off-shore companies for sale:
starting applying for a business name, business name registration partnership, grants for
starting a business and starting a business from home.
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Open company same-day and offshore setting-up services using our online starting-up service for
Limited Liability Company Offshore companies. Start enjoying the tax benefits and personal
liability protection that forming a corporation or Limited Liability Company (LLC) provides.
Offshore company incorporation, offshore checking and offshore saving accounts, offshore time
deposits, offshore mutual funds, offshore money market accounts and offshore asset protection
provided by Coddan. Company formations, limited company formations, electronic incorporations,
company formation agents, paperless company registrar, electronic companies filing, United
Kingdom limited company, setting corporation Ireland, business incorporation Scotland, open
company England, London company registration, electronic companies filing, British companies
registrars, business consultants, company law, public limited company, plc, international
companies, ltd, inc, limited liability, enterprise, organization, organization, tax, taxation,
England, firm, partnership, trade, profession, contractors, business, private limited company,
limited by shares, ready-made companies, readymade company, aged company, off the shelf
company, shelf companies list.
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Specializes in company registration and secretarial services.
Provides list of shelf company, services and cost quotation, business name registration,
company house direct, starting a business - sole trader business registration.
This is actually a pretty good reason to incorporate in Delaware or Nevada. In fact, you could
be a foreigner from Lebanon, never setting foot on American soil, form a Delaware corporation
and no one would know who you are! However, many states will require the owners and/or officers
and/or directors information while operating in that state (as a foreign corp.). Besides,
how many small businesses require anonymity? Incorporate, incorporation, incorporating,
incorporation services, incorporating services, incorporate Wyoming business online,
incorporating Oregon business, New York LLC formation, Louisiana limited liability corporation,
Texas articles of incorporation, Florida company incorporation, California non profit
corporation, corporate name search offshore, BVI corporate name availability, Seychelles
corporate name registration.
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Learn about incorporation services UK and incorporate London
online: starting your own business, business ideas, starting a business on ebay or buying a
business with legal requirements for starting a business. Online England company formations,
online company London W1 formation, Glasgow formation agent, Liverpool formations agent,
Scottish companies house, forming a company Scotland, starting a business Wales, form a
limited company Oxford, United Kingdom business registration agents, online Great Britain
company registration. E-Business, small business, business structures defined: the limited
liability company business structures defined: the limited liability company IRS treatment of
the one-member LLC. An LLC with only one member / owner is automatically considered to be a
sole proprietorship unless an election is made to be treated as a corporation. Thus, the sole
member of an LLC will file (Form 1040), (U.S. Individual Income Tax Return), ideas for starting
a business, grants for starting a business, starting a business from home, starting your own
business - business ideas, starting a business on ebay, buying a business: legal requirements
for starting a business, ideas for starting a business.
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A business may be conducted by a company
as an entity in its own right and comes into existence by incorporation under companies
legislation which also regulates the running of the company and sets out the duties of its
officers. In recent years trading trusts have been commonly used as the structure for carrying
on a business with their main objective of tax minimization. A trust requires a trustee to act
on behalf of a trust and it has been preferable to have a company newly incorporated to act as
the trustee as it is believed that this limits the liability of the trust to the paid-up capital
of the Trustee Company. A trust is formed by a gift or settlement being made to the trustee on
behalf of the, as yet unformed, trust. A solicitor draws up a Trust Deed setting out the powers
and formalizing the administration of the trust. The trust has beneficiaries rather than
shareholders as in a company, who are entitled to distributions of capital and/or income and
these distributions, are controlled by the trustee.
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The distribution made to beneficiaries are
subject to income tax as part of their personal income and are liable for provisional tax on
these distributions. Citizens and residents of other countries may incorporate in the United
Kingdom through the standard incorporation procedures set forth by each state. Provides UK
company formations, trademark registration, registered office facilities and company secretary
services. Professional company formation, register your company online, we may establish new
business at one day. An online guide to starting up and expanding your business.
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This is one of our most popular packages with worldwide customers, and includes: -
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Our Deluxe 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 the anonymity of the real owner, 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 send by post to you upon formation of your private limited 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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This is our most popular package with the UK residents, and includes: -
The registration of your company from scratch using your own registered office address,
and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
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 following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -
A certificate of incorporation (requires PDF file reader);
The memorandum & articles of association (requires PDF file reader);
The first meeting of the board of directors (requires PDF file reader);
Share certificates and a company register (requires PDF file reader).
*If you do not have an a valid address in the UK, which can be used as the registered office address for your company, please check our Economy package. The non-UK address cannot be acceptable as the office address for the UK company.
This is our most popular package with the UK and EU residents, and includes: -
The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;
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 also included in the price of this package (our registered office address service is charged annually);
The following documents, which need to be printed and signed, will be e-mailed to you upon formation of your company: -
A certificate of incorporation (requires PDF file reader);
The memorandum & articles of association (requires PDF file reader);
The first meeting of the board of directors (requires PDF file reader);
Share certificates and a company register (requires PDF file reader).
This is another one very popular package with worldwide customers, and includes: -
The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
The incorporation your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a members;
The government and initiation fees for incorporation are included in the price of this package;
The search for a company name availability, confirmation, and reservation;
An original certificate of incorporation
A hard bound copy of the memorandum & articles of association
The preparation and submission of the memorandum and articles of association;
A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -
An original certificate of incorporation;
A hard bound copy of the memorandum and articles of association;
The minutes of the first meeting of the board of directors;
A completed register of directors and members;
An elegant printed membership certificates;
A pliers seal.
The general power of attorney signed by a nominee director (additional fee applies);
Pre-signed, undated resignation letter from a nominee director;
The agreement for the provision of a nominee service and indemnification of nominee.
This is our most popular package with international customers, and includes: -
The formation of a company limited by guarantee usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
The registration your BVI company limited by guarantee from scratch using our registered agent & registered office address, and appoint our own candidates to the role of a nominee director and a nominee member;
The government and initiation fees for incorporation are included in the price of this package;
The search for a company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association;
A local registered office address and a local registered agent for one year are included in the price of this package (our registered agent & office address service are charged annually);
The provision of a nominee director for 12 months is included in the price of this package (our nominee director service is charged annually);
A completed register of directors and members
The provision of a nominee member for 12 months is also included in the price of this package (our nominee member service is charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your company limited by guarantee: -
An original certificate of incorporation;
A hard bound copy of the memorandum and articles of association;
The minutes of the first meeting of the board of directors;
A completed register of directors and members;
An elegant printed membership certificates;
A pliers seal.
Pre-signed, undated letters of resignation from a nominee director and a nominee member;
A general power of attorney signed by a nominee director (additional fee applies);
A declaration of trust from a nominee member;
An indemnity letter for the power of attorney;
A nominee agreement which provides for the indemnification of the nominees.
This is another one of our most popular packages for small and medium size businesses, such as those being run by a sole director from home, and for companies owned by overseas residents who still need a local registered office address, but would rather not open a local office in the UK;
This package is often chosen by such customers, who are looking to minimise a sole director' personal liability (and who are not quite familiar with the UK corporate legislation), because this package includes thye provision of a nominee secretary for 12 months. This package is also includes: -
The registration your company from scratch using one of our registered office addresses, and appoint your own candidates to the roles of director, and shareholder;
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 also included in the price of this package (our nominee secretary service is charged annually);
The following hard bound copy of the corporate documents, will be send by post to you, upon formation of your private limited 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.
This is another one very popular package with worldwide customers, and includes: -
The formation of a limited partnership usually takes as little as five to seven working days from the time that your application and payment are received by Coddan;
The incorporation your BVI offshore limited partnership from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a general partner;
The government and initiation fees for registration are included in the price of this package;
The search for a limited partnership name availability, confirmation, and reservation;
The preparation and submission of the partnership agreement;
A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The provision of a nominee limited partner for one year is also included in the price of this package (our nominee limited partner service is charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
An original certificate of incorporation;
A hard bound copy of the partnership agreement;
The minutes of the first meeting of the board of partners;
A completed register of partners;
An elegant printed membership certificates;
A pliers seal;
The general power of attorney signed by a nominee limited partner (additional fee applies);
Pre-signed, undated resignation letter from a nominee limited partner;
The agreement for the provision of a nominee service and indemnification of nominee.
This is our most popular package with international customers, and includes: -
This is our most popular package with international customers, and includes: -
90.(1) The following sections shall be substituted for sections 8 and 9 of the [1970 c. 9.] Taxes Management Act 1970 (return of income)
"Personal return.
8. (1) For the purposes of assessing a person to income tax, he may be required by a notice given to him by an inspector
(a) to make and deliver to the inspector within the time limited by the notice a return containing such information as may be required in pursuance of the notice, and
(b) to deliver with the return such accounts and statements, relating to information contained in the return, as may be required in pursuance of the notice.
(2) Every return under this section shall include a declaration by the person making the return to the effect that the return is to the best of his knowledge correct and complete.
(3) A notice under this section may require different information, accounts and statements for different periods or in relation to different descriptions of source of income.
(4) Notices under this section may require different information, accounts and statements in relation to different descriptions of person.
Trustee's return.
8A. (1) For the purpose of assessing a trustee of a settlement, and the settlors and beneficiaries, to income tax an inspector may by a notice given to the trustee require the trustee
(a) to make and deliver to the inspector within the time limited by the notice a return containing such information as may be required in pursuance of the notice, and
(b) to deliver with the return such accounts and statements, relating to information contained in the return, as may be required in pursuance of the notice;
and a notice may be given to any one trustee or separate notices may be given to each trustee or to such trustees as the inspector thinks fit.
(2) Every return under this section shall include a declaration by the person making the return to the effect that the return is to the best of his knowledge correct and complete.
(3) A notice under this section may require different information, accounts and statements for different periods or in relation to different descriptions of source of income.
(4) Notices under this section may require different information, accounts and statements in relation to different descriptions of settlement.
Partnership return.
9. (1) Where a trade or profession is carried on by two or more persons jointly, for the purposes of making an assessment to income tax in the partnership name an inspector may act under subsection (2) or (3) below (or both).
(2) An inspector may by a notice given to the partners require such person as is identified in accordance with rules given with the notice
(a) to make and deliver to the inspector within the time limited by the notice a return containing such information as may be required in pursuance of the notice, and
(b) to deliver with the return such accounts and statements as may be required in pursuance of the notice.
(3) An inspector may by a notice given to any partner require the partner
(a) to make and deliver to the inspector within the time limited by the notice a return containing such information as may be required in pursuance of the notice, and
(b) to deliver with the return such accounts and statements as may be required in pursuance of the notice;
and a notice may be given to any one partner or separate notices may be given to each partner or to such partners as the inspector thinks fit.
(4) Every return under this section shall include
(a) a declaration of the names and residences of the partners;
(b) a declaration by the person making the return to the effect that the return is to the best of his knowledge correct and complete.
(5) A notice under this section may require different information, accounts and statements for different periods or in relation to different descriptions of source of income.
(6) Notices under this section may require different information, accounts and statements in relation to different descriptions of partnership. "
(2) In section 12 of that Act (information about chargeable gains)
(a) in subsection (1) for the words "Section 8" there shall be substituted the words "Sections 8 and 8A" and for the words "it applies" there shall be substituted the words "they apply"
(b) in subsection (2) after the words "section 8" there shall be inserted the words "or section 8A"
(c) in subsection (4) the words "of income of a partnership" shall be omitted.
(3) In section 93 of that Act (penalties) in subsection (1) for the words "9 of this Act (or either" there shall be substituted the words "8A or 9 of this Act (or any".
(4) In section 95 of that Act (penalties) in subsection (1)(a) for the words "9 of this Act (or either" there shall be substituted the words "8A or 9 of this Act (or any".
(5) This section applies where a notice to deliver a return was, or falls to be, given after 5th April 1990.
Corporation tax returns.
91.(1) Section 11 of the [1970 c. 9.] Taxes Management Act 1970 (return of profits) shall be amended as follows.
(2) In subsection (1), for the words from "the profits" to the end there shall be substituted the words
"such information as may be required in pursuance of the notice together with such accounts, statements and reports as may be so required.
(1A) The information which a company may be required to supply under this section is information which is relevant to the application of the Corporation Tax Acts to the company; and the accounts, statements and reports which a company may be so required to supply are accounts, statements and reports which are so relevant."
(3) In subsection (2), for the words "of profits and losses arising in" there shall be substituted the word "for".
(4) In subsection (3) (return to include declaration that return is correct and complete)
(a) after the word "declaration" there shall be inserted the words "by the person making the return" and
(b) after the word "is" there shall be inserted the words "to the best of his knowledge".
(6) In subsection (8), the words from "or different" to the end shall be omitted.
(7) The following subsection shall be inserted after subsection (8)
"(8A) A return under this section shall be amended by the company delivering to the inspector a document in such form, containing such information and accompanied by such statements as the Board may require."
(8) Subsection (4) above shall apply with respect to any notice served on or after the day on which this Act is passed.
(9) Subsections (2), (3) and (5) to (7) above shall apply with respect to any notice served after the day appointed for the purposes of section 82 of the [1987 c. 51.] Finance (No.2) Act 1987.
Information powers relating to interest
92.(1) Section 17 of the [1970 c. 9.] Taxes Management Act 1970 (interest paid or credited by banks etc. without deduction of income tax) shall be amended as mentioned in subsections (2) and (3) below.
(2) In subsection (1)
(a) after the words "without deduction of income tax" there shall be inserted the words "or after deduction of income tax"
(b) after the words "the amount of the interest" there shall be inserted the words "actually paid or credited and (where the interest was paid or credited after deduction of income tax) the amount of the interest from which the tax was deducted and the amount of the tax deducted"
(c) paragraph (a) of the proviso shall be omitted.
(3) The following subsections shall be inserted after subsection (4)
"(5) The Board may by regulations provide as mentioned in all or any of the following paragraphs
(a) that a return under subsection (1) above shall contain such further information as is prescribed if the notice requiring the return specifies the information and requires it to be contained in the return;
(b) that a person required to make and deliver a return under subsection (1) above shall furnish with the return such further information as is prescribed if the notice requiring the return specifies the information and requires it to be so furnished;
(c) that if a person is required to furnish information under any provision made under paragraph (b) above, and the notice requiring the return specifies the form in which the information is to be furnished, the person shall furnish the information in that form;
(d) that a notice under subsection (1) above shall not require prescribed information;
and in this subsection "prescribed" means prescribed by the regulations.
(6) Regulations under subsection (5) above
(a) shall be made by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons,
(b) may make different provision in relation to different cases or descriptions of case, and
(c) may include such supplementary, incidental, consequential or transitional provisions as appear to the Board to be necessary or expedient.
"
(4) Section 18 of that Act (interest paid without deduction of income tax) shall be amended as mentioned in subsections (5) and (6) below.
(5) In subsection (1)
(a) after the words "without deduction of income tax" there shall be inserted the words "or after deduction of income tax"
(b) in paragraph (b) for the words "so paid or received" there shall be substituted the words "actually paid or received and (where the interest has been paid or received after deduction of income tax) the amount of the interest from which the tax has been deducted and the amount of the tax deducted"
(c) for the words "its amount" there shall be substituted the words "the amount actually received and (where the interest has been received after deduction of income tax) the amount of the interest from which the tax has been deducted and the amount of the tax deducted".
(6) The following subsections shall be inserted after subsection (3A)
"(3B) The Board may by regulations provide as mentioned in all or any of the following paragraphs
(a) that a person required to furnish information under subsection (1) above shall furnish at the same time such further information as is prescribed if the notice concerned specifies the information and requires it to be so furnished;
(b) that if a person is required to furnish information under subsection (1) above or under any provision made under paragraph (a) above, and the notice concerned specifies the form in which the information is to be furnished, the person shall furnish the information in that form;
(c) that a notice under subsection (1) above shall not require prescribed information;
and in this subsection "prescribed" means prescribed by the regulations.
(3C) Regulations under subsection (3B) above
(a) shall be made by statutory instrument subject to annulment in pursuance of a resolution of the House of Commons,
(b) may make different provision in relation to different cases or descriptions of case, and
(c) may include such supplementary, incidental, consequential or transitional provisions as appear to the Board to be necessary or expedient.
"
(7) Subsections (1) to (3) above shall have effect as regards a case where interest is paid or credited in the year 1991-92 or a subsequent year of assessment.
(8) Subsections (4) to (6) above shall have effect as regards a case where interest is paid in the year 1991-92 or a subsequent year of assessment.
Restrictions on Board's power to call for information.
93.(1) In section 20 of the [1970 c. 9.] Taxes Management Act 1970 (powers to call for information), after subsection (7) there shall be inserted
"(7A) A notice under subsection (2) above is not to be given unless the Board have reasonable grounds for believing
(a) that the person to whom it relates may have failed or may fail to comply with any provision of the Taxes Acts; and
(b) that any such failure is likely to have led or to lead to serious prejudice to the proper assessment or collection of tax.
"
(2) This section shall apply with respect to notices given on or after the day on which this Act is passed.
Donations to charity: inspection powers.
94.(1) The Board may require a charity to produce for inspection by an officer of the Board all such books, documents and other records in the possession, or under the control, of the charity as contain information relating to payments made on or after 1st October 1990 and in respect of which the charity has made a claim to repayment of tax by virtue of section 339 of the Taxes Act 1988 (donations to charity by companies) or section 25 of this Act.
(2) For the purposes of subsection (1) above "charity" has the same meaning as in section 506 of the Taxes Act 1988 and includes
(a) each of the bodies mentioned in section 507 of that Act, and
(b) any Association of a description specified in section 508 of that Act (scientific research organisations).
(3) In the second column in the Table in section 98 of the Taxes Management Act 1970 (penalty for failure to furnish information etc.) there shall be added at the end
"Section 94(1) of the Finance Act 1990."
Corporation tax determinations
Determinations.
95.(1) The following sections shall be inserted after section 41 of the Taxes Management Act 1970
Corporation tax determinations
Determination procedure.
41A. (1) If an inspector is satisfied that a return under section 11 of this Act affords correct and complete information concerning an amount which is
(a) required to be given in the return, and
(b) determinable under this section,
he shall determine the amount accordingly.
(2) If an inspector is not satisfied that a return under section 11 of this Act affords correct and complete information concerning an amount which is
(a) required to be given in the return, and
(b) determinable under this section,
he may determine the amount to the best of his judgment.
(3) If a company is required to deliver a return under section 11 of this Act and fails to deliver the return within the time limited by that section, an inspector may determine any amount which is
(a) required to be given in the return, and
(b) determinable under this section,
to the best of his judgment.
(4) An amount shall be treated as determined under this section when the inspector gives notice in writing of the determination to the company which makes, or is required to make, the return.
(5) After an amount has been determined under this section, the determination shall not be altered except in accordance with the express provisions of the Taxes Acts.
(6) Section 31 of this Act (except subsection (3)) shall apply in relation to a determination under this section as it applies in relation to an assessment to tax.
(7) A determination under this section which has become final shall be conclusive for the purposes of the Corporation Tax Acts, except sections 36(3), 41B and 43A of this Act.
(8) The power conferred by subsection (2) or (3) above includes power to determine that an amount is nil.
(9) In this section references to an amount which is determinable under this section are references to
(a) the amount of losses incurred in a trade in an accounting period, computed in accordance with section 393(7) of the principal Act; or
(b) the amount for an accounting period which is available for surrender by way of group relief under section 403(3) (capital allowances), (4) (expenses of management) or (7) (charges on income) of the principal Act.
Reduction of determination.
41B. (1) Where an inspector discovers that an amount determined under section 41A of this Act is or has become excessive, he may issue a direction that the amount determined shall be reduced by an amount specified in the direction.
(2) A direction under this section in relation to a determination shall be treated as issued when the inspector gives notice in writing of the direction to the company given notice of the determination under section 41A of this Act.
(3) Section 31 of this Act (except subsection (3)) shall apply in relation to a direction under this section as it applies in relation to an assessment to tax.
(4) Section 41A(7) of this Act shall not apply to a determination at any time when a direction under this section has been issued in relation to the determination and has not become final.
(5) After a direction under this section has become final, the determination to which it relates shall have effect as if the amount determined were reduced by the amount specified in the direction.
(6) The power conferred by subsection (1) above includes power to issue a direction which would have the effect of reducing the amount determined to nil.
(7) In its application to a determination in relation to which a direction under this section has already been issued, subsection (1) above shall have effect with the insertion after the word "Act" of the words ", as reduced by the amount specified in any previous direction under this section in relation to the determination,".
Time limits.
41C. (1) A determination of an amount may be made under section 41A of this Act at any time not later than 6 years from the end of the period to which the amount relates.
(2) Subject to subsection (3) below, a direction in relation to a determination may be issued under section 41B of this Act at any time not later than 6 years from the end of the period to which the determination relates.
(3) A direction in relation to a determination may be issued under section 41B of this Act at any time not later than 20 years from the end of the period to which the determination relates if the excess by virtue of which the power conferred by that section is exercisable is attributable to the fraudulent or negligent conduct of
(a) the company given notice of the determination under section 41A of this Act, or
(b) a person acting on its behalf.
"
(2) This section applies in relation to accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Consequential group relief adjustments.
96.(1) This section applies where
(a) a determination of an amount for an accounting period of a company ("the surrendering company") is made under section 41A of the [1970 c. 9.] Taxes Management Act 1970, and
(b) immediately after the determination, or a direction relating to it under section 41B of that Act, becomes final, the amount of relief of any description which the surrendering company consents to surrender by way of group relief for the period ("the surrendered amount") exceeds the amount which, in relation to relief of that description, is the relevant amount for the period.
(2) For the purposes of subsection (1) above, the amount which is, at any time, the relevant amount in relation to relief of any description for an accounting period of a company is
(a) the amount of relief of that description available to the company for surrender by way of group relief for the period, less
(b) so much, if any, of that amount as represents relief given in an assessment on the surrendering company which has become final and conclusive.
(3) The surrendering company shall make whatever adjustment of the surrendered amount is necessary in consequence of the determination or direction ("the necessary adjustment") by reducing or withdrawing consent to surrender before the end of 30 days from the date on which the determination or direction becomes final.
(4) If the surrendering company fails to make the necessary adjustment within the period mentioned in subsection (3) above, it shall be made
(a) except where paragraph (b) below applies, in such manner as may be specified by the inspector by notice in writing to the surrendering company and to the company or, if more than one, each company whose claim for group relief is affected by the adjustment, or
(b) where the surrendering company gives notice in writing to the inspector within the relevant period, in such manner as may be specified in the notice given by the surrendering company.
(5) For the purposes of subsection (4)(b) above the relevant period is the period of 30 days beginning with the day on which notice under subsection (4)(a) above is given to the surrendering company.
(6) The power to make an assessment under section 412(3) of the Taxes Act 1988 (power to assess where inspector discovers that group relief which has been given is or has become excessive) shall also be exercisable where group relief which has been given becomes excessive in consequence of the making of the necessary adjustment.
(7) Subsection (8) below applies where any tax to which a company ("the chargeable company") becomes liable in consequence of the making of the necessary adjustment has been assessed on the company and is unpaid at the end of 6 months from the date on which the assessment becomes final and conclusive ("the relevant date").
(8) Any other company which has obtained group relief by virtue of a surrender by the surrendering company for the accounting period to which the necessary adjustment relates may, within 2 years from the relevant date, be assessed and charged (in the name of the chargeable company) to an amount not exceeding the lesser of
(a) the amount of the unpaid tax, and
(b) the amount of tax which the other company saves by virtue of the surrender.
(9) A company paying an amount of tax under subsection (8) above shall be entitled to recover from the chargeable company a sum equal to that amount together with any interest on that amount which it has paid under section 87A of the [1970 c. 9.] Taxes Management Act 1970.
(10) An assessment by virtue of subsection (6) above shall not be out of time if made within one year from the date on which the determination or direction giving rise to the making of the necessary adjustment becomes final.
(11) In subsection (1)(b) above, the reference to the amount of relief of any description which the surrendering company consents to surrender by way of group relief for the period includes a reference to the amount of relief of that description which the surrendering company consents to surrender for any assumed accounting period under section 409 of the Taxes Act 1988 (companies joining or leaving group or consortium) which is comprised in the period.
(12) In section 87A of the [1970 c. 9.] Taxes Management Act 1970 (interest on overdue corporation tax etc.) in subsection (3) after the words "1970" there shall be inserted the words ", section 96(8) of the Finance Act 1990".
Claims by companies
Payment of tax credits.
97.(1) Section 42 of the Taxes Management Act 1970 (claims) shall be amended as follows.
(2) In subsection (5) (form of claims) there shall be inserted at the beginning the words "Subject to subsection (5A) below,".
(3) The following subsection shall be inserted after subsection (5)
"(5A) A claim by a company for payment of a tax credit shall be made by being included in a return under section 11 of this Act."
(4) The following subsection shall be inserted after subsection (10)
"(10A) In subsection (5A) above
(a) the reference to a claim for payment includes a reference to a claim resulting in payment; and
(b) the reference to a claim being included in a return includes a reference to a claim being included by virtue of an amendment of the return.
"
(5) This section applies in relation to claims relating to income of accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Repayment of income tax deducted at source.
98.(1) The Taxes Act 1988 shall be amended as follows.
(2) In section 7(2) (set off against corporation tax of income tax deducted from payments received by resident companies) the words from "and accordingly" to the end shall be omitted.
(3) The following subsections shall be inserted after section 7(5)
"(6) A claim for the purposes of subsection (5) above, so far as relating to subsection (2) above and section 11(3), shall be made by being included in a return under section 11 of the Management Act (corporation tax return) for the period to which the claim relates.
(7) In subsection (6) above the reference to a claim being included in a return includes a reference to a claim being included by virtue of an amendment of the return."
(4) In section 11(3) (set off against corporation tax of income tax deducted from payments received by non-resident companies) the words from "and accordingly" to the end shall be omitted.
(5) This section applies in relation to income tax falling to be set off against corporation tax for accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Loss relief.
99.(1) The Taxes Act 1988 shall be amended as follows.
(2) In section 393 (relief for trading losses) in subsection (1) (carry forward of losses on the making of a claim)
(a) for the words "the company may make a claim requiring that the loss" there shall be substituted the words "the loss shall", and
(b) for the words "on that claim" there shall be substituted the words "under this subsection"
and in subsection (11) (time limit for claims) the words from the beginning to "of six years; and" shall be omitted.
(3) In section 396 (relief for Case VI losses on the making of a claim)
(a) in subsection (1) for the words "the company may make a claim requiring that the loss" there shall be substituted the words "the loss shall", and
(b) subsection (3) (time limit for claims) shall cease to have effect.
(4) This section applies in relation to accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Group relief: general.
100.(1) The Taxes Act 1988 shall be amended as follows.
(2) In section 412 (group relief: claims and adjustments) the following subsection shall be substituted for subsections (1) and (2)
"(1) Schedule 17A to this Act (which makes provision with respect to claims for group relief) shall have effect."
(3) The Schedule set out in Schedule 15 to this Act shall be inserted after Schedule 17.
(4) This section has effect as respects claims for group relief for accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Group relief: relieved losses.
101.(1) The following section shall be inserted after section 411 of the Taxes Act 1988
"Group relief by way of substitution for loss relief.
411A. (1) Group relief may be given in respect of a loss notwithstanding that relief has been given in respect of it under section 393(1).
(2) Where group relief in respect of a loss is given by virtue of subsection (1) above, all such assessments or adjustments of assessments shall be made as may be necessary to withdraw the relief in respect of the loss given under section 393(1).
(3) An assessment under subsection (2) above shall not be out of time if it is made within one year from the date on which the surrendering company gave the inspector notice of consent to surrender relating to the loss.
(4) For the purposes of this section relief under section 393(1) shall be treated as given for losses incurred in earlier accounting periods before losses incurred in later accounting periods. "
(2) This section has effect as respects claims for group relief for accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Capital allowances: general.
102.(1) The [1990 c. 1.] Capital Allowances Act 1990 shall be amended as follows.
(2) The following section shall be inserted after section 145
"Corporation tax allowances: claims.
145A. Schedule A1 to this Act shall have effect."
(3) The Schedule set out in Schedule 16 to this Act shall be inserted before Schedule 1.
(4) This section has effect as respects claims for allowances falling to be made for accounting periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Capital allowances: assimilation to claims by individuals.
103.(1) Schedule 17 to this Act (which amends the Capital Allowances Act 1990 for the purpose of assimilating claims by companies to claims by individuals) shall have effect.
(2) This section has effect as respects allowances and charges falling to be made for chargeable periods ending after the day appointed for the purposes of section 10 of the Taxes Act 1988 (pay and file).
Miscellaneous
Officers.
104.(1) In section 1 of the [1970 c. 9.] Taxes Management Act 1970 (appointment of inspectors etc.) the following subsections shall be inserted after subsection (2)
"(2A) The Board may appoint a person to be an inspector or collector for general purposes or for such specific purposes as the Board think fit.
(2B) Where in accordance with the Board's administrative practices a person is authorised to act as an inspector or collector for specific purposes, he shall be deemed to have been appointed to be an inspector or collector for those purposes."
(2) In section 55 of that Act (recovery of tax not postponed)
(a) in subsection (7) for the words "the inspector" there shall be substituted the words "an inspector"
(b) in subsection (10) for the words "this section", in the first place where they occur, there shall be substituted the words "subsection (3) above".
(3) The amendment made by subsection (1) above shall be deemed always to have had effect.
(4) The amendments made by subsection (2) above shall apply where notice of appeal is given on or after the day on which this Act is passed.
Recovery of excessive repayments of tax.
105.(1) In section 30 of the Taxes Management Act 1970 (recovery of excessive repayments of tax) the following subsection shall be inserted after subsection (1)
"(1A) Subsection (1) above shall not apply where the amount of tax which has been repaid is assessable under section 29 of this Act."
(2) This section applies in relation to amounts of tax repaid on or after the day on which this Act is passed.
Corporation tax: collection.
106.In section 10 of the Taxes Act 1988 (time for payment of tax) the following subsection shall be substituted for subsection (2)
"(2) Where by virtue of subsection (1)(a) above corporation tax for an accounting period of a company is due without the making of an assessment, the amount for the time being shown in a return by the company under section 11 of the Management Act (corporation tax return) as the corporation tax for the period shall be treated for the purposes of Part VI of the Management Act (collection and recovery) as tax charged and due and payable under an assessment on the company."
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