England LTD

Being targeted by tax authorities, classical offshore schemes are gradually losing the popularity. They are substituted by new business schemes that do not have formalized signs of tax avoidance. Thus, English LTD, a limited liability company, has the necessary advantages for business ownership and for protection it from the claims of third parties.

LTD has the following features:

  1. minimum one director and one shareholder needed for the registration;
  2. residency of the shareholder, legal entity or an individual, as well as the residency of the director are not limited;
  3. LTD does not require the secretary;
  4. authorized capital- minimum 2 pounds;
  5. office address registration – within the territory of Great Britain, including Britain itself, Scotland and Wales;
  6. public registry contains the information only about shareholders-directors; information about the beneficiaries is known only to the registration agent.

 

As a tax resident of the Kingdom, LTD is subject to income tax on a progressive scale:

  1. if the annual income does not exceed £300 000 – at the rate of 20%;
  2. if exceeds £1.5 million – at the rate of 23%;
  3. tax discount is provided for interim income.

 

LTD reporting peculiarities

Annually LTD submits the declaration with information about the company, the financial report and the tax return on its basis to the registry. The financial report is based on contracts, bank statements, invoices, etc. Reports shall be submitted not later than 9 months after the closing date of the financial year.