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Need some friendly advice for the UK

Discussion in 'Business & Tax Advice' started by scriptox, Nov 19, 2012.

  1. scriptox

    scriptox Regular Member

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    So registering a LTD company in the UK is the same as a LLC in the US?

    When registering a company as LTD, you open a new bank account, will i get a new tax ID too or do i have to register for that separately after i have registered my company as LTD?
    I also see it talks about in putting information like share holders etc? Im just a guy in a room with a pc earning from the internet, does any of that apply to me i dont really understand it.

    Thanks.
     
  2. Reyone

    Reyone Elite Member

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    I suppose you are doing it through companies house, do not use any other third party for this process.

    1- Select a name, go and check the name availability in the "webcheck" section.

    2- Fill in the details. You will need to know who are the directors (shareholders) going to be. Once you know, alocate the shares in regards of their stakes. A very useful advise, alocate the minimum number of shares, just so if your business needs to include further directors you do not trap your fingers with your own shares.

    3- Once you have all the papers and have submitted them, you will wait for a period of about 24 hrs and then you will receive the certificate of incorporation.

    4- Once you have all the papers from the company, you can now open a bank account (all this process will take you sometime - 10 -30days -)


    Now, as a personal advice, I would not recommend you to open a ltd company unless you are 100% certain of how it works. Make sure that you can afford an accountant or a bookeeper at least (if you can do it, then great). In the UK there will always be an eagle watching over you, so if you open a ltd company, do NOT fuck around with taxes, ilegal activities etc.

    If you want further guidance, simply pm me your questions.
     
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  3. scriptox

    scriptox Regular Member

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    Your inbox is full :)