- Original Poster
- #1
Dear all,
I have some basic questions about opening a new company. I live in the UK, my 2 friends who are going to be the co-owners of the company live in France. We would like to register the company in the UK. The guy in France is going to be the director, I'm happy for my home address to be the registered address for the time being. The company is going to be Internet-based, basically a website which would attract users from all over the world and who would potentially pay a subscription fee of 3 a month.
Questions:
- I understand that the company will have to submit annual report as well as accounting records every year. Do I understand correctly that we would be able to hire an accountant to help us with these reports in advance of the submission? Is it advisable to choose an accountant in advance? If so, how do you choose an accountant?
- Internet & IT business: are there any special conditions or things to keep in mind for this type of business?
- Tax. It is expected that only a minor income for the website will arrive from the UK users. The main market, at least initially, would be Russia. How would we go about tax? I understand that we would need to register for VAT when the income will exceed a certain threshold (but I guess this is only for the UK users?). Apart from the Corporation tax of 21%, is there any other tax to pay?
Thanks a lot in advance!
I have some basic questions about opening a new company. I live in the UK, my 2 friends who are going to be the co-owners of the company live in France. We would like to register the company in the UK. The guy in France is going to be the director, I'm happy for my home address to be the registered address for the time being. The company is going to be Internet-based, basically a website which would attract users from all over the world and who would potentially pay a subscription fee of 3 a month.
Questions:
- I understand that the company will have to submit annual report as well as accounting records every year. Do I understand correctly that we would be able to hire an accountant to help us with these reports in advance of the submission? Is it advisable to choose an accountant in advance? If so, how do you choose an accountant?
- Internet & IT business: are there any special conditions or things to keep in mind for this type of business?
- Tax. It is expected that only a minor income for the website will arrive from the UK users. The main market, at least initially, would be Russia. How would we go about tax? I understand that we would need to register for VAT when the income will exceed a certain threshold (but I guess this is only for the UK users?). Apart from the Corporation tax of 21%, is there any other tax to pay?
Thanks a lot in advance!
