Recent content by BTC1812

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    Can not open Business Bank Account for (MSB) Money Service Business

    Hate to say this but the 3 trades you mentioned, Cheque Cashing, bureau de change and western Union are deemed to be the most risky businesses under the Money Laundering Regime, they are the 3 most common methods of moving illicit funds between jurisdictions. Banks as most people are well aware...
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    Registering a PLC as a holding company

    Don’t forget a PLC must be audited each and every year, and that would probably apply to each subsidiary, watch your accountancy fees go through the roof. Start with a simple private company and if you want to float in the future you can convert that private company into a public company. We...
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    What happens to cash in the bank when you close a company?

    UK Companies are subject to similar rules concerning residency and domicile as per individuals. A UK company has to be always resident in the UK however questions were ownership control are actually exercised are crucial to ascertaining the tax position. At the moment by the sound of it...
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    About to Start a limited company but a bit nervous

    Only advice I can give is get your self some professional advice, once you incorporate you will receive form CT41G from HMRC about your corporation tax and PAYE registration and operation, failure to respond can lead to an automatic penalty
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    Registered Address

    Hi We are UK Company Registration agents north of Manchester in Bury, we offer registered office, director service address and mail forwarding options from our premises. As with all company service providers we are subject the money laundering regulations so we need to verify the identities of...
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    Can shares be diluted without you knowing?

    Under the CA it is the directors who have the authority to allot the shares not the shareholders, if a company formed after Oct 2009 has a single class of shares the directors can allot as many shares as they like when they like, however this is balanced up by S561 of the Act which gives the...
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    Gifting shares

    But the difference in the market value to what is actually paid need accounting for http://www.hmrc.gov.uk/MANUALS/ersmmanual/Index.htm
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    Gifting shares

    To Billmaccallum this does not apply to those acquiring them only this disposing of them, which is what I was alluding to.
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    LTD vs LLP vs other

    Looking at you options 1 and 3 are the same thing 3 as the preferable since LLP’s are good joint venture vehicles for corporates However when you state that your aim is to choose the option that is most flexible for future changes i.e. one partner needs to draw more than the other to maximise...
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    Gifting shares

    The problem is compounded since you are employees of the company and as such are obtaining shares by the way employment and are subject to Employment-related securities and options reportable events under Section 421J Income Tax (Earnings and Pensions) Act 2003, this must be declared to HMRC on...
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    Limited company registered and office addresses - how to present properly?

    The CA2006 S87(3) Sates: The registered office is an address for the purposes of any duty of a company; 1. To which all communications and notices may be addressed 2. To keep available for inspection at its registered office, index or other document 3. To mention the address of its registered...
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    Incorporating a new Ltd: Initially Dormant

    A company registration is a legal procedure best undertaken by a company formation agent who is qualified to undertake the company registration process. Many are professional accountants or solicitors who are supervised by their professional body for compliance and quality issues, they will also...
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    Do I "need" official hard copy print outs of my Certificate of Incorporation, etc?

    As a formation agent I can tell you that the official certificate of incorporation is the image sent through by Companies House in PDF format, so having your documents in PDF only is not an issue, however a few pointers, the public documents the bank may want to see is the registers of the...
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    Company Formation

    We are company formation agents, below are the pros and coms of both methods, remember Companies House only handle the registration process and no of the compliance you have to comply with under the Companies Act. Companies House DIY Service • Can only be used to create a private company limited...
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    Shareholders dispute

    The public record of directors and members is actually the register of the company held at the registered office, the officers have a duty under the Companies Act to keep it up to date. It should also be available to view by anyone with a valid reason in normal working hours and on payment of...
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