UK Company drawbacks
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You have no privacy and you need to maintain accounting and filing a tax report each year. So there are not really any good tax incitament for foreigners living outside the UK to setup a company there.
Just my 2cents...
Just my 2cents...
UK companies are not offshore at all, as admin said there is not only the incorporating front price to keep in head to maintain the company.
- Tax
- Accounting
- Annual return
- Registering adress fees.
It's always the same you need to find the country that fit your needs.
But if you look for offshore it s definitely not there.
- Tax
- Accounting
- Annual return
- Registering adress fees.
It's always the same you need to find the country that fit your needs.
But if you look for offshore it s definitely not there.
A lot of people do use them. They are cheap to setup as the UK wants to encourage open investment in its economy and entrepreneurship without barriers.
The problem is they don't work for every bodies needs. As mentioned the drawback now is zero privacy unless you use a trust, tax and I would add Brexit and HMRC rules. Until the UK reduces its corporate tax rate to below 15%which will 100% happen if no brexit deal is︀ struck thu&¤# plus reverses (slim chance) the open company register they have I would personally avoid︁ for now.
Osborne pledges to cut corporation tax
The problem is they don't work for every bodies needs. As mentioned the drawback now is zero privacy unless you use a trust, tax and I would add Brexit and HMRC rules. Until the UK reduces its corporate tax rate to below 15%which will 100% happen if no brexit deal is︀ struck thu&¤# plus reverses (slim chance) the open company register they have I would personally avoid︁ for now.
Osborne pledges to cut corporation tax
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