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United Kingdom Company
United Kingdom Company

Setting up or expanding your business in the UK is straightforward. You can choose how your company operates. If you want to incorporate a company as a separate legal entity in the UK, forming a private limited company is the most popular option.

Requirement for United Kingdom Company

Proposed company name English
Minimum share capital 1 British pound
Minimum shareholder 1 Natural person or legal entity
Minimum director 1 Natural person 
Company Secretary Not compulsory for private limited company

Tax System in the UK

Sales of most goods and services in the UK is subjected to Value Added Tax (VAT). The standard rate is 20%, where some goods and services are charged at a reduced rate of 5% or a zero rate. Corporation should report for VAT every 3 months. It is recommended to hire account professionals to complete the process to avoid late payment penalty.

Apart from the VAT, the companies are also subjected to Corporate Tax at a rate of 19%.

At Budget 2016, the government announced a further reduction to the Corporation Tax main rate (for all profits except ring fence profits) for the year starting 1 April 2020, setting the rate at 17%.