Uk Limited Company- Taking Money Out

If you want the company to pay you a salary, expenses or benefits, you must register the company as an employer with HM Revenue and Customs  

The company must take Income Tax and National Insurance contributions from your salary payments and pay these to HMRC, along with employers’ National Insurance contributions.

If you or one of your employees makes personal use of something that belongs to the business, you must report it as a benefit and pay any tax due.

Dividends

A dividend is a payment a company can make to shareholders if it has made enough profit.

You can’t count dividends as business costs when you work out your Corporation Tax.

Your company mustn’t pay out more in dividends than its available profits from current and previous financial years.

You must usually pay dividends to all shareholders.

To pay a dividend, you must:

o    hold a directors’ meeting to ‘declare’ the dividend

o    keep minutes of the meeting, even if you’re the only director

Dividend paperwork

For each dividend payment the company makes, you must write up a dividend voucher showing the:

o    date

o    company name

o    names of the shareholders being paid a dividend

o    amount of the dividend

You must give a copy of the voucher to recipients of the dividend and keep a copy for your company’s records.

Tax on dividends

Your company doesn’t need to pay tax on dividend payments. But shareholders may have to pay Income Tax if they’re over £5,000.

For dividends above £5000, one will pay at a basicrate of 7.5% for dividend up to £32,000 and a higher rate for dividend up to£43,000.

Enjoy This Christmas Season With Us.

Company Formation UK

HOW TO REINSTATE A COMPANY AT UK?

        HOW TO REINSTATE A COMPANY AT UK?

A company can only apply to Companies House to get their company restored (known as ‘administrative restoration’) if:

·         He/she was a director or shareholder

·         it was struck off the register and dissolved by the Registrar of Companies within the last 6 years

·         it was trading at the time it was dissolved

Otherwise a court order is needed to get the company restored.

HOW TO APPLY FOR RESTORATION?

·         A completed form RT01

·         a cheque for £100, payable to ‘Companies House’

·         any outstanding documents

·         any filing fees or penalty payments

·         if your company had assets, a waiver letter from Bona Vacantia

WHAT HAPPENS NEXT?

If the application has been successful, the company will be restored as soon as the registrar sends a confirmation letter.

If the application is refused, then:

·         Apply for a court order to have the company restored.

·         Get a discretionary grant (if you were a shareholder and need to claim some money back).

  HOW CAN WE HELP YOU?

We, the Global company formation UK Ltd is a very cost effective business consultancy firm that offers company formation, business consultancy, accounting and taxation services. We have a fully-fledged and experienced team of UK qualified accountants, business consultants and IFAs who will guide you from the formation of your company to running it successfully. We will take care of all your administration, accounting and taxation and you can concentrate on your business domain. Global company formation Ltd covers reinstating company services in Westminster, Wandsworth, Waltham Forest .To know more about our services and charges log on to: www.globalcompanyformations.co.uk

Contact us: + 44 020 799 359 29

HOW TO FORM A SCOTTISH LLP?|company formation Scotland|Scotland company formation|Business in Scotland|Accounting work Scotland|Online work UK,London,Watford

HOW TO FORM A SCOTTISH LLP?

Like a general partnership, Limited liability partnership must consist of two or more partners who carryon business with a view to profit. Scottish LLP is a unique vehicle. It has been used in the recent times for private equity and property investment fund structures. The Scottish LLP can be a main funds vehicle because: it can hold assets in its own name; there can be multiple but passive investors (the limited partners); only one person manages the investments and business of the partnership (the general partner).

1.      Requirements:

·         At least one general partner.

·         One limited partner.

·         LLP Agreement: A limited liability partnership agreement sets out the details of the LLP, its members, their profit shares, capital contributions and, most crucially, the rules for leaving the LLP.

·         Management functions are only for general partner.

·         Limited partners are liable only to the extent of their capital contribution.

2.      Advantages: 

·         Separate legal entity: it can own its own assets, enter in to contracts, sue or be sued, own property, borrow money and grant certain types of security.

·         Tax transparency: no tax is payable by Scottish LLP itself. Instead UK tax authorities will look through the partnership structure and partners are taxed on their profit sharing ratio.

·         Limited management participation: management and control rests with general partner or manager appointed by the general partner.

3.      Cost: cost forming Scottish LLP is £60.

4.      Can non-UK resident be a partner in Scottish LLP?

·         Yes, a non- UK resident can be a partner in Scottish LLP.

·         The tax rate for a company will depend on the residence of a partner.

·         If your partner is a resident of UK then he or she will have to pay tax on their shares of profits in UK.

·         If the partners are not residents in UK and do not conduct any business in the country, they will not pay any tax in UK only at their own jurisdiction.

5.      HOW CAN WE HELP YOU?

We, the Global company formation UK Ltd is a very cost effective business consultancy firm that offers company formation, business consultancy, accounting and taxation services. We have a fully-fledged and experienced team of UK qualified accountants, business consultants and IFAs who will guide you from the formation of your company to running it successfully. We will take care of all your administration, accounting and taxation and you can concentrate on your business domain. To know more about our services and charges log on to: www.globalcompanyformations.co.uk

Contact us: + 44 020 799 359 29

Accounting Services UK

ACCOUNTING SERVICES UK

We provide you the whole set of accounting services for all businesses.  You do your business we will do all the accounting, tax and other compliances for you. We deal with all your day to day requirements on book keeping to accounting, Tax Calculations and Tax Returns, VAT returns and what not. It’s like having your personal accounting employee in your office. Everything will be done on time without any delay.

We provide tailor made billing system for the accounting service, so as to avoid you paying higher fees for your getting your work done. For the ones who have high transactions, we provide the accounting services at a very nominal amount. We do every accounting service with at most care so as to ensure quality of the accounts and also to ensure the customer satisfaction. Book keeping is the first and foremost step for accounting. Even when it is called a very simple, it works as the backbone for the whole accounting process. Book keeping has to be done with at most care in order to ensure the credibility of the final accounts. We provide you the said book keeping service to you in cheap, effective and hassle free.

What you have to do is:a)    Email us the soft/ scanned/ image copies of all paper works
That’s all, we will deal with the rest of it, and you can concentrate on your business.

As we have Book keeping in our finger tips it’s very easy for us to prepare your Final accounts. Your accounts will be prepared with perfection. We will provide will information regarding you financial position as per your accounts and also will ensure that all statutory compliances are met on time. Once you sign up with us for Accounting Services all you will have to do is concentrate on your business and think about what is to be done for development of the same.

We will take care of your Tax Returns. We already have your accounts in hand, will straight away do necessary to file both your VAT and Tax returns with HMRC on time without any delay.

 We deal in consultation of all registration services and also will file all respective returns to Companies House too. Your accounts and annual returns will be filed with Companies House on due dates. 

Accounting Services UK

Why to outsource accounting?

Outsourcing has emerged as an effective solution for business ventures presently. Finance and accounting was one of the first jobs that companies started outsourcing, and the practice continues to flourish. Surveys reveal that the number of F&A outsourcing projects valued at $1 million or more increased in 2014 compared to the previous year.

Accounting outsourcing refers to a practice of outsourcing a part or all of the accounting processes involved in keeping the business functional. The practice of outsourcing is generally associated with small and medium sized businesses. Yet large businesses may also outsource their accounting requirements to an outside accounting service. The main reason for relying on outsourcing is to focus on making the best utilization of the available resources to the growth of a business.

As time advances, companies looking for better outcome are exploring innovative ideas and seeking new paths to carry out finance & accounting processes. As a result there has been huge expansion in the degree of outsourcing to new areas of finance and accounting, industries, and companies than ever before.

Successful companies have been utilizing the scope of outsourcing in the most effective way. Standardization of finance & accounting processes is the main characteristic of good-going companies and by adopting good F&A processes those businesses achieve remarkable achievements like more things getting done in the most economical way which ultimately result in more profit. By improving their F&A processes, business houses have found themselves reduce the process it takes to close books and meet regulatory requirements more easily than ever before.

Most of the companies opt for outsourcers with more expertise and techno- resources than they possess in-house. Finance & Accounting outsourcing helps a business to grow in the most successful way by providing proper guidance. Expert analysts can help a business flourish by strengthening the managerial practices, budgets and standardizing procedures company-wide.

Such practices allow companies to implement cost savings through supplier consolidation and duplicate payment analysis. Automation of the processes can improve policy compliance and minimize order errors by ensuring employees order what and when they want without making costly mistakes.

Where are we?

Pearl Outsource Private Limited’s global outsourcing services touch every industry and business process. We transform our clients’ business operations, making them smarter, faster and cheaper, while working with visionary organizations to define innovations in strategic outsourcing.

We share a common goal to create a world-class finance organization. In today’s economy, that means more than an efficient and effective finance organization. To achieve high performance in a challenging global marketplace, companies are looking to their finance function for insights that will drive business improvement. Pearl’s Finance and Accounting Business Process Outsourcing (BPO) Services has the next-generation approach to help.

Ongoing pressures to optimize business performance have prompted many finance executives to look for new approaches, including outsourcing of the finance & accounting organization. Pearl’s Global Services is perfectly suited to help your company transform into a high-performance organization that streamlines processes, maintains compliance and cuts costs, all while letting you focus on your core competencies and grow your business.

Here at Pearl, we have been providing a full suite of accounting services from the transactional to compliance and control, all through our Cochin office. Throughout our centers, we offer proven solutions tailored to meet each client’s specific needs and have a broad range of experience in a variety of industries.

Our service is multifaceted. If you are setting up operations in India, we can provide a back office for accounting, payroll, financial reporting, tax and other regulatory compliances. We have the capability of assisting a company of any size – we have helped reduce cost and improve efficiency by becoming the finance and accounting (F&A) team for small to large Indian companies as well as overseas companies.

If you are a small subsidiary of a foreign company in India, we can become your Chief Financial Officer and your in-house accounting team while you focus on your business. As your business grows and complications increase, you can retain us to support you. While you may hire your own financial controller, we would continue to handle all processes. In this way, we can support your business right from the start through the growth phase, for as long as you require.

We could also help you set up your own F&A team by helping you hire the right people and designing the necessary systems for you.

If you are an overseas business but want to manage your accounting and tax activities from India, we can assist you through the right skilled accounting professionals working from our office at your end.

We provide a wide range of Accountancy and Bookkeeping outsourcing services that not only include the maintenance of books and records and the preparation of accounts but also payroll, financial reporting, tax and other regulatory compliances. We have good knowledge of accounting software of USA, UK and Australia like SAGE, MYOB, Creative Solutions Accounting, IRIS, Ultra Tax, Yardi and Quick Books. We also attend to cash flows and management information. All our services can be provided on a monthly, quarterly or annual basis as per the client's requirements. We offer the most competitive rates in the Market with the most qualified and skilled accounting professionals who can complete any accounting work for you from our office with utmost speed and efficiency that too just for £2.50 per hour.

Advantages of Our Accounting Services

·         We offer complete outsourcing solutions in the areas of accounting such as accounting payroll, accounts payable, accounts receivable, other regulatory/statutory compliances etc.

·         We have a reputation of providing our clients the benefit of having the best resources being utilized to manage their backyard functions.

·         We follow the best practices in processes and tools to make sure that we rise to the level of expectations of our clients from outsourcing.

·         We sustain constant communication with our clients ensuring them an opportunity to continually evaluate the competence of their outsourcing processes.

Our single point of contact will help simplify managing your company’s support functions by coordinating with the relevant teams at Pearls. We aim to facilitate the smooth running of your business with improved efficiency by performing these routine functions for you in a competitively cost-effective manner.

Welcome to Pearl Outsource Private Limited

Mathew Stephen FCA, AAIA, CeFA

Mathew Stephen is the founder Director of Global Accountancy Services as well as Pearl Outsource Private Limited. He is a qualified accountant from the Association of International Accountants in the UK and the Institute of Chartered Accountants of India. He is also one of the partners of international Chartered Accountants firm P. Parikh & Associates. He has 20 years’ experience in accounts, business consultancy, taxation & statutory audit. He is also a UK Independent Financial Advisor (IFA) and CeFA qualified at the IFS School of Finance.

He has won the OnlineTechnology Award in two consecutive years, 2011 and 2012, from the TenetNetwork. He specializes in Global Company Formation, International Taxation andalso as Corporate Protection Advisor to the directors of LimitedCompanies. 

Company Formation UK

Company formation, Back office and Accounts outsourcing "paperless office"

Company Formation:- Global Company Formation UK Limited is a start up ad visor who offer  formation advice to start up business anywhere in the world. Here we provide a cost effective solution for your new and existing business in a variety of different domains that too by exploring the international talents. We also provide accounts outsource services in here.

Back Office Services :- If you are setting up your company anywhere in the world, we can provide a back office for any accounting services where you will find the perfect candidate. You can set up your office with us; you can recruit, train, mentor and monitor them like your next door office. Your staff will work from your office in exact your business time and all the domain staff  will be available at a highly competitive market cost of £2.50 per hour. Being a facility provider we can provide you with a fully furnished office space just for £ 97 per month including desk and sitting, computer, internet with 100 Mbps, air-condition etc.

At present we have the following six international companies having back office with us.

1) Mint and Mustard UK Ltd, a leading restaurant chain in the UK

2) Tick Box Ltd, a Project Management company based in Bristol, UK

3) Seacom Accountancy, an accounting practice LLP in the UK

4) Walth Group, an online trading company based in Germany

5) Global Company Formation UK Ltd, a business consultancy and outsource service provider, UK

6) locummeds

Accounts Outsource Services :- If you are an overseas business but want to outsource your accounting and finance activities we are here to help you out with accounts outsourcing. We are ready to take any accounting or finance assignments for just £2.50 per hour:

We offer the following services in accounts as your outsource service provider.

• Book keeping

• Payroll services

• VAT Return

• Management Accounts

• Financial Accounts

• Tax Return

• Audit File preparation

• Invoicing and Credit Control

• Other Accounting Support Services

Our detailed outsource process flow is enclosed herewith for a more clear view.

 Input Process Summary

1. Daily Sales – The daily sales report of all the business are available to the concerned person in our UK Head office and the same will be forwarded to our outsource office. It is further classified into two :

(a) System Generated Invoice: The system generated Invoice copy is being sent in mail to the concerned person in outsource office.

(b) Daily Sales Closing Summary: The daily closing sales summary is being sent in mail by taking the photographs of the sales closing summary and the same will be forwarded to the concerned person in outsource office. 

2. Daily Purchase - The daily purchases being made in all the business will be forwarded in report format to the concerned person in our UK Head Office and the same will be forwarded to our outsource office. It is further classified into two :

(a) Email Invoices: The Invoice copy received from the supplier in our UK Head Office is being sent

(b) Paper Invoices: The invoice copy received in our UK Head Office is being sent in mail

to the concerned person in our outsource office by taking the photographs of all the invoices

3. Daily Bank Statement

(a) View Only Statement: With the help of Bank Account Internet Login details, the accounts person in our outsource office is able to view the bank statement in View Only mode.

(b) Physical Statement: As some companies may not be willing to provide the bank login details & in this case, the bank statement is being photographed and will be mailed to the concerned person in our outsource office.

Output Process Summary

1. Daily Cash Flow Report: The person in outsource office will reconcile the bank account on daily

basis and will inform the expected inflow and out flow of cash balances in advance to the Head

Office in UK before 9 AM.

2. Monthly Payroll Processing: Monthly payroll processing and issue payslip to all the staff s on due

date and file all the statutory forms to HMRC. Full RTI compliance and FPS, EPS filing on time.

3. Monthly Management Accounts: Prepare monthly management accounts with all the month

end adjustments like accrual, pre-payment and depreciation.

4. Quarterly VAT Return: Preparation of VAT Calculation and file VAT Return to HMRC on due

date.

5. Yearly Draft Final Accounts: The Yearly Draft Final Accounts has to prepared which is useful for

filing TAX Returns to HMRC and filing Company Accounts to Companies House.

6. Tax Return Filing and Company Accounts Filing: Either our accountants in UK or your

Accountants will be filing tax Return and Company Accounts after necessary year-end

adjustments and tax planning.

Advantages of Outsource Accounting 

·                     Paperless and keep all your documents in digital format.

·                     This is a next door Accounting Office.

·                     Your Bank Account Statement is reconciled before you wake up.

·                     Cost of running the Accounting Process is £2.50 per hour.

·                     We guarantee to reduce 60% of your UK Accounting Cost and Admin Cost.

·                     A Smart way to manage your business in UK by keeping a back office with your admin and accounting staff.

·                     An opportunity to explore International talent and Cost Saving to your business.

·                     The Per month cost of running your Back Office is just £97.

·                     UK Qualified Accountants will file your Tax return and Company Accounts.

·                     Very easy to set up your back office on a rolling monthly contract basis.