In reply to A newbie all over again! by Annec
In reply to A newbie all over again! by Annec
Diego.
Do you have a specific company name you would like to use or are you happy to have a "ready made company name"?
You can do almost all of it yourself.. it's very easy to do and not expensive.. [B]but[/B] being a Director of a Limited Company has major implications and you need to be clear why you want to set up a Limited Company in the UK.
:) :)
In reply to A newbie all over again! by Annec
We used a company to set our firms up....... it was based in Bristol & called Duport. They had a wonderful set up & it only took about 2 days (we had the stuff through from Companies House really quickly!)
It was not as simple to VAT register oneself (not everyone needs to as there's a minimum turnover level); this process was slow, tedious & required the VAT officers to visit us at 07-30 in the morning just to check we were who we said we were.
Anyway, that's setting yourself up as a firm...getting yourself a good business plan is a lot harder(!)
Good luck!
In reply to A newbie all over again! by Annec
Yes I want to start up a limited company in UK that will manage vacation rentals, italian language courses and much more here in Italy. I will be the director, the secretary can be in UK but not necessary:I would base it in London due to direct Ryanair flights from Italy,and I also know that it can start up a company by internet.
Because of I'm italian and I'm used to italian burocracy :mad: I am scared of any mistakes that I could commit on the way so I was looking for an agency to assist me. I know that I don't need of any VAT till £ 60,000 so I could start without it but.....what to do with bills? Need an accountant over there too?!
That's my dilemma!!
Make It Easy
Submitted by Anonymous (not verified) on Wed, 03/08/2006 - 16:56In reply to A newbie all over again! by Annec
Diago
I had a limited company in the UK to own property, I'm trying to wind it up at the moment. It isn't all that difficult, but those advising you knew where to go & what to do, as did I.
By far the easiest & safest method is to use an accountant to guide you thru the process. They can set it all up for you. What worried me was the fact that you are based here in Italy & that's alright, but I'm not sure whether the secretary can be too, as it then might be considered an off-shore company.
You will need a registered address in England & know how to file accounts & the necessary forms. I used my accountant to do this the 1st few years, then when I learned enough, I took over. This might be of help to you, as should you get it wrong there are fines & penalties.
Good luck
Lavender
In reply to A newbie all over again! by Annec
LF is right; the comapny needs a 'headquarters' in the UK (your accountant may allow you to use his/her office for this).
I'd only use an accountant for limited things as most of the accounting is simple. Kepp receipts (if you're italian you'll understand [i]that[/i]!) & perform basic book keeping (what's spend/what's earned on a month by month basis)..the best accounting method is a shoe box (for bills) and a stapler (to keep one months bill with another!). Basta! Let the accountant do the rest.
Certain expenditure (even to do with maintenance of your Italian property) can also be put through the company but check with your accountant.
Good luck!
In reply to A newbie all over again! by Annec
[QUOTE=Diego]Yes I want to start up a limited company in UK that will manage vacation rentals, italian language courses and much more here in Italy. I will be the director, the secretary can be in UK but not necessary:I would base it in London due to direct Ryanair flights from Italy,and I also know that it can start up a company by internet.
Because of I'm italian and I'm used to italian burocracy :mad: I am scared of any mistakes that I could commit on the way so I was looking for an agency to assist me. I know that I don't need of any VAT till £ 60,000 so I could start without it but.....what to do with bills? Need an accountant over there too?!
That's my dilemma!![/QUOTE]
Hi Diego
I don't understand why you need to have a UK Limited company to set up your business..
You are Italian.. you live in Italy.. understand Italian bureaucracy.. so why not set up the Italian equivalent of a Limited company in Italy? Or are you going to live in and trade from the UK?
No disrespect, but being a director of a Limited company is not quite as simple as handing over a shoe box full of receipts to an accountant.. there are many restrictions.. obligations.. corporation tax.. and penalties to consider.. and it may not take long to exceed the VAT threshold..
Have you considered "SOLE TRADER" or "TRADING AS" status?
:) :)
In reply to A newbie all over again! by Annec
I also used Duport when setting up my limited company 3 years ago. Found them very inexpensive, reliable and quick. You could use my office address here in the UK if you need an address. Send me a PM if you want to discuss.
Good luck
Linda
In reply to A newbie all over again! by Annec
[QUOTE=tuscanhills]
Anyway, that's setting yourself up as a firm...getting yourself a good business plan is a lot harder(!)
[/QUOTE]
[url]http://www.bizplans.co.uk/[/url]
I've heard excellent things about them.
Sarah
Hi,
Your question seems to be about starting a "Limited Company" rather than starting a "business" so, I'll deal with that.
It is very simple. You can go the DIY route - see [url]www.companieshouse.gov.uk[/url] - you get the forms - available from legal stationers like Oyez, and file them. You will need a solicitor to complete part of the form, and witness etc.
Or you can buy "off the shelf" - you will get a company called something silly and you can then change the name, or you can use a company formation agency. Ebay has many that advertise.
Forming the company is the easy bit - opening a bank account and getting started is much harder!
Good luck ;)