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Legal requirements to register a subsidiary company in the UK: if you are planning to register a subsidiary company in the UK, you will probably be keen to find out what legal requirements need to be fulfilled to get you operating properly. Here at Coddan Formations Agency, we specialise in registration of subsidiary businesses for entrepreneurs and company owners who want to be sure they get the most from their venture.
Subsidiary company registration: thanks to recent legislation designed to make the United Kingdom attractive to overseas investment, it is now a very advantageous and tax effective place to form a subsidiary. A subsidiary business can be registered and set up in just a few short hours, and will enjoy some of the lowest tax rates in Europe. Companies House will, however, require a few things from you before you can proceed. You will have to hand over statutory accounts and, if you are planning a particularly sizeable venture, a statutory audit. You will also have to register the subsidiary for corporation tax, VAT and payroll.
Registration of employees: when you register a subsidiary company, you will only need a single director to do it. If you are hiring more employees, however, they will all need to be recorded in the PAYE system. This means setting up a new payroll and ensuring all the relevant employee information is being tracked and passed on to the authorities.
Document filing: a subsidiary company has its own structure, operations and management. This means it only needs to file its own documents, including all financial statements. This is helpful if the parent company is looking to hide its profitability or protect its confidentiality. Closing down a subsidiary company must be done following the legal requirements of any company. This process can take half a year or more.