Need an Experienced Advisory Partner?

Before establishing an entity in the UK, it is critical to choose the appropriate structure. The ownership structure, nature of the business, geographical spread, and other factors played a role in determining the structure. Setting up an entity is a step-by-step process that requires a precise selection of options to ensure that it does not become difficult to conduct business at a later date.

Company Structure

Selecting the right company structure is the first step. How you set up your business depends on what sort of work you do. It can also affect the way you pay taxes and get funding. You can set up as one of the following (scroll down for more details):

    • Limited Companies
    • Self-employed ('sole trader')
    • Business Partnership
    • Social enterprise / Unincorporated association

Selecting the right business structure after understanding your business and long-term goal.

Shareholding Pattern

Advising on the best share-holding pattern in your new company. The shareholding pattern in the UK plays a pivotal role in corporate governance and transparency. It reflects the ownership structure of companies, indicating who holds shares and in what quantities. This information is crucial for investors, regulators, and stakeholders as it influences decision-making, corporate control, and accountability. Understanding the shareholding pattern allows for effective corporate governance, aids in assessing the health of financial markets, and promotes trust and confidence among investors. It also enables companies to make strategic decisions and tailor their communication with shareholders, contributing to the overall stability and success of the UK's business environment.

Company Registration

Company registration with relevant authorities for PAYE and corporation tax. Advising on an appropriate selection of service/business codes under which the company will conduct its business. In the United Kingdom, company registration is primarily overseen by two authorities -

(a) Companies House: This is the main government agency responsible for company registration and administration in the UK. Companies House maintains the official register of companies, including information about their directors, shareholders, and financial statements. It also processes documents related to company formation, changes, and dissolution.

(b) Her Majesty's Revenue and Customs (HMRC): HMRC is responsible for tax-related matters, including the collection of corporate taxes such as VAT and Corporation Tax. When registering a company, businesses need to inform HMRC about their tax obligations and may need to register for VAT if their turnover exceeds the threshold.

These authorities play a crucial role in regulating and overseeing businesses' legal and financial aspects in the UK.

VAT Registration

Company registration for VAT, if applicable. VAT registration in the UK is not just a legal requirement – it's a strategic move. Registering for VAT can boost your business credibility, open doors to larger clients, and enable you to reclaim VAT on eligible expenses. It enhances financial control, facilitates international trade, and ensures compliance with tax regulations. Embrace VAT registration in the UK to navigate the business landscape effectively and make your mark in the global market.

Companies LLPs Limited Liability Partnerships Sole Proprietorsh HMRC in United Kingdom, the UK, Milton Keynes, London, Tax, Accounting, Business set-up, Tax refund, EXPAT, Immigration, work visa, and financial consulting.

Quick Tip:

If you’re setting up a small organization like a sports club or a voluntary group and do not plan to make a profit, you can form an ‘unincorporated association’ instead of starting a business.

We have years of experience work with the UK Government, gaining critical insights to the most efficient process.

With extensive expertise, Xcelentra is well-equipped to assist you with establishing your own Limited Company. We provide detailed information on critical aspects involved in the process of forming a Limited Company. At Xcelentra, we not only handle the necessary registrations, but we also assist with day-to-day compliance. Our business advisory services include support for following types of company registration:

1. Limited companies

A limited company is a company ‘limited by shares’ or ‘limited by guarantee’.

Limited by shares - Limited by shares companies are usually businesses that make a profit. This means the company:

  • Is legally separate from the people who run it
  • Has separate finances from your personal ones
  • Has shares and shareholders
  • Can keep any profits it makes after paying tax

Limited by guarantee Limited by guarantee companies are usually ‘not for profit’. This means the company:

  • Is legally separate from the people who run it
  • Has separate finances from your personal ones
  • Has guarantors and a ‘guaranteed amount’
  • Invests profits it makes back into the company

2. Sole Trader:

Sole trader is one who run business as an Individual. He needs to pay tax and Class 2 National Insurance on business profits. Sole trade has an obligation to keep business records and records of expenses, file annual SA tax return. He also needs to register and pay VAT if its applicable under VAT regulations. He can trade under his own name and or business name.

3. Business Partnerships:

In a partnership, you and your partner/partners personally share responsibility for conduct of business including tax and other legal compliances, losses, if any that business makes and payments, if any due to vendors. A limited Company can also act as a partner in a partnership firm. A partnership firm needs to choose a name, nominated partner and get HMRC registration before starting business.

4. Social Enterprise/ Unincorporated Association

If you want to set up a business with social, charitable, or community-based goals, you can do so as a:

      • A charitable incorporated organisation (CIO)
      • Co-operative
      • Community interest company (CIC)
Contact Us

Why Xcelentra

Best Accountants

Experienced Team

Our experienced & qualified accountants help businesses in a variety of industries

Streamlined Processes - Our simplified _ intuitive approach saves you time, allowing you to concentrate on core business.

Streamlined Processes

Our simplified approach saves you time, allowing you to concentrate on core business

Accurate _ Efficient - We ensure accurate compliance and control in line with statutory requirements _ laws.

Accurate & Efficient

We ensure accurate compliance and control in line with statutory requirements & laws

Cost Efficiency - Cost savings not just by lowering overhead costs, but also by avoiding expensive mistakes

Cost Efficiency

Cost savings by lowering overhead costs and avoiding expensive mistakes

Custom Solutions - Flexible, practical, and customized solutions for all types _ sizes of business

Custom Solutions

Flexible, practical, and customised solutions for all types & sizes of business

Comprehensive Solutions - From accounting to immigration to new business setups, Xcelentra is your one-stop service provider

Comprehensive

Management Accounts for critical insights into financial & accounting affairs

?

FAQs

Hiring professional services for business registration ensures accuracy, compliance with regulations, and saves time, allowing you to focus on growing your business.

Why should I consider outsourcing bookkeeping services to an accountancy firm?

Outsourcing bookkeeping services allows you to provide additional value to clients while freeing up resources for higher-level tasks. It offers cost-effectiveness, reliability, and the opportunity to focus on core business activities.

What types of bookkeeping services can I outsource to Xcelentra?

Xcelentra Financial Services offers a range of comprehensive outsourcing bookkeeping services. This includes general ledger maintenance, accounts payable and receivable management, bank reconciliations, financial statement preparation, and more. We customise our services to meet your specific business needs.

Is outsourcing bookkeeping services secure and confidential?

Yes, at Xcelentra, we prioritise the security and confidentiality of our clients' financial data. We employ robust data security measures, adhere to strict confidentiality protocols, and ensure compliance with applicable data protection regulations.

Can I still maintain control and oversight over my clients' bookkeeping processes?

Absolutely. When you outsource bookkeeping services to Xcelentra Financial Services, you retain control and oversight over your clients' bookkeeping processes. We work closely with you to establish transparent communication channels and provide regular reports to keep you informed.

How flexible are your outsourcing bookkeeping services?

Our outsourcing bookkeeping services are highly flexible to accommodate the unique requirements of your accountancy firm and your clients. We offer scalable solutions, allowing you to adjust the level of support needed as your client base grows or changes.