U.K. Professional Clients
U.K. Private Customers
About the company formation with a trust establishment package
Setting up a company with the UK trust structure - safeguarding wealth is essential in order to ensure that hard earned capital doesn't get whittled away by unnecessary taxation, creditor demands or your competitors. Many business owners, particularly those with international interests, are choosing to set up a limited company with a trust in order to protect their assets from unwanted attention.
One consideration is whether to set up the trust. The simplest, most transparent method of forming a UK trust is to name yourself as the settlor and a third person as the beneficiary.
Once the trust is established, it will be appointed as shareholder and as the second corporate director of the new limited company, allowing the trustees to be nominated to the role of a first director and secretary.
The mentioned structure offers the benefit of protecting the beneficiary from the public record register, and its interests will benefit from total protection by the nominated trustees, whom will also be responsible for the management of the limited company affairs on behalf of the trust.
The private limited company formation service, which comes with the year-end annual return (confirmation statement) preparation and its submission with Companies House and HMRC (Tax Office) for a trading company.
Many people start a small business in order to enjoy the rewards of freedom and independence. Starting your own business is both exciting and rewarding, but it is also full of challenges. The level of commitment that you will need should not be underestimated. With approximately 30% of all new businesses failing in the first year of trading, research suggests that those that plan and seek professional advice from the outset have a significantly greater chance of being successful.
Our aim is for you to focus on what you do your best - building your own successful business. Alongside you, we aim to advise you in ways that help you make more money, save tax navigate through difficult times, and ultimately meet your personal and business objectives.
The description of our package in brief
1. The provision of a registered office address in London;
2. As soon as the trust is established, it will be appointed as shareholder and as the second corporate director of the new limited company;
3. The trustees to be nominated to the role of a company director and secretary;
4. The registration of a new company with Companies House and HMRC;
5. Dealing with the company' secretarial issues;
6. The preparation and filing of the annual return (confirmation statement) with Companies House and HMRC.
Every business registered in the UK, large or small, must produce the annual accounts for the tax authorities. All limited companies must also file annual return (confirmation statement) at Companies House, which complies in form and substance with the Companies Act provisions.
In addition, we will work with you to ensure that you receive information in a timely manner - avoiding unnecessary fines and penalties from the Companies House and HMRC.
Who is this package for?
This package is ideal for such customers, who do not want to be registered as the person with the significant control with Companies House, and who will with the bookkeeping requirements themselves during the financial year. At the end of the financial year, our certified chartered accountant will prepare the final annual accounts and submit it with the Companies House and HMRC for an additional fee, which will be discussed and confirmed with you.
How it works?
Six months after your company registration, you will need to provide us your corporate bank statements and copies of all invoices (incoming & outgoing), to help you with the estimation of the costs for the preparation of the annual accounts at the year-end.
Then, twelve months after your company incorporation, you will need to provide us the rest of your corporate bank statements and copies of all invoices to help you with the preparation & finalisation of the annual accounts for behalf of your company.
P.S. Please take the following note, that this package is suitable for companies whose turnover is below then £85,000, and not VAT registered.
What the particular services do you get?
Our complete trust establishment and company formation includes: -
1. The registration of a trust (as the Bare Trust), whereby we appoint you as the settler and the your own candidate as the beneficiary of the trust, which will be created using two nominated trustees (provided by us).
2. The registration of the private limited company (including the government fee for the incorporation of a company).
3. The provision of the registered office address for a trading company at the Baker Street in London.
4. The display of your company name on the monitor at the registered office address.
5. The trustees of your trust will be nominated to the role of a company director and secretary. The trust be appointed as the shareholder and as the second corporate director of the new limited company.
6. The initial registration of your company with the HMRC as a tax payer.
7. The provision of the tax agent service with the HMRC.
8. The government mail forwarding to your own address.
9. The keeping of your company' registers at the registered office address.
What documents will you get from us?
The following documents will be sending by the first class post to you upon formation of your private limited company: -
1. Two laminated certificates of incorporation;
2. Two hard bound copies of your memorandum & articles of association;
3. Two hard bound copies of the first meeting of the board of directors;
4. Two elegant printed share certificates and your company registers;
5. An agreement in between us and your company for the preparation of the annual return and the annual accounts, and the indemnity letter;
6. The Trust Deed.
P.S. In the case if you will need to have more documents or more copies of your corporate documents from us, you can order them at a later stage.
You need to provide us the following documents
1. A certified copy of your ID and the utility bill;
2. A dully signed indemnity agreement (we will send you the drafted copy);
3. A dully signed engagement letter (we will send you the drafted copy).
The price of this package is £2,250 per calendar year (which is around £187.00 per month plus the VAT). Our fees need to be pay in two instalments: -
The first instalment of £1,600 needs to be paid up front and the next instalment of £650.00 needs to be paid within next six months, as soon you will receive the relevant notice from us where you will be asked to provide us the copies of your bank statements, and copies of your invoices.
We will need to receive your payments on time to avoid any penalties or fines from the Companies Registrar or HMRC; otherwise, we will charge an extra fee for the preparation of your annual accounts and returns.
An additional charge of £35.00 will applies for the each transaction or entry made in the registers, and £50.00 will apply for the trustees' signatures with the seal. Should you request it, other management work will be charged out at between £100.00 and £220.00 per hour depending on the nature of the work.
Second year fees: in the second year you will need to pay us the next instalment of £1,600.00 (which covers the provision of two trustees) after the last payment you have done to us, and the additional instalment of £650.00 needs to be paid within next six months as soon you will receive the relevant notice from us.
If you will need to have the package, which will accompany with your business needs, please do not hesitate to contact us at any time during the accountancy year.
The trust registration and the formation of a limited company usually takes as little as four to six hours from the time that Coddan receives your application and the payment. We will file your application electronically with Companies House allowing the fastest possible registration.
This generally means that if you place an order before 11 a.m. (London time) on a normal working day, your company will be registered by the end of that day. The registration can sometimes take slightly longer. Although the majority of companies are incorporated within a maximum of 24 hours, there may be occasions where the process takes longer due to circumstances beyond our control.
Please note that, although your company will generally be registered in four to six hours, the preparation and delivery of your corporate documents typically takes slightly longer. Please take the note upon your consideration that we cannot finish with your business incorporation until we receive the certified copies of your Due Diligence documents.
Due to the implementation of 2017 Money Laundering Regulations (EC Fourth Money Laundering Directive 2015/849) on 26 June 2017 it is now necessary for all Trust and Company Services providers including company formation agents (in our case: Coddan CPM LTD) to register with the HM Revenue & Customs and to put anti-money laundering systems into place.
We are required to ask for the scanned identification of a company members and beneficial owners of all newly registered companies via e-mail first before we can undertake to provide incorporation service for your business structure.
Within 14 days we will require you to post us a recent utility bill(s) (for past three months) showing names and current addresses of your company' members and beneficiary owner(s)', and also their passport or driving licence(s).
These can be original documents or copies certified by a solicitor, notary public or commissioner for oaths. If you are an overseas based client you should provide us copies of passport(s) and utility bill(s) with the notarised translation into English.
We can process the order immediately to incorporate your new limited company, but will not send you corporate documents until we receive required due diligence documents.