Sephrata
Elite Member
- Mar 25, 2017
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In terms of the cost + ongoing charges, he is right.
Registering in the UK worth it?
- Thread starter Nowrid Ahsan
- Start date
In terms of the cost + ongoing charges, he is right.
KTiwari
Registered Member
- Mar 17, 2017
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I am not an expert on this but a UK company looks like a good option for businesses that usually don't live very long. If you are about to ditch your business by fiscal year end or move it to some other jurisdiction, isn't UK company a good place to start with the low cost involved?
Sephrata
Elite Member
- Mar 25, 2017
- 2,722
- 4,086
Erm not really. You cannot just 'ditch your business' - as a director, you have many legal obligations.
If the company has traded, then there is a lengthy and costly process to winding down a company. You need to appoint a liquidator and the process can take the best part of 18 months. I've just closed a limited company and that cost me around £1,500 on top of the accountancy/administration charges of £1,000.
If the company has traded, then there is a lengthy and costly process to winding down a company. You need to appoint a liquidator and the process can take the best part of 18 months. I've just closed a limited company and that cost me around £1,500 on top of the accountancy/administration charges of £1,000.