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UK - Scottish Private Limited Company |
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Key Facts for Private Limited Company
- Scottish Registered address
- One company secretary ( person or corporate - Optional)
- One director (person or corporate)
- If there is only one director he cannot be at the same time the company secretary
- Minimum capital is 1
- General Trade in the memorandum and article of association
- Company statutory books must be maintained properly
- There are two authorities that your company is accountable to one is the Inland Revenue where your taxes and tax return must be file and the second one is the Companies House where your company is registered and abbreviated accounts must be file. Failure to file accounts on time will result in penalty being imposed
- VAT - Must registered when business turnover reached 64,000
- Accounts - after the accounting period end which is 12 months from the date of incorporation you will have 9 months and 1 day to pay the corporation tax and file the corporation tax return and 10 months to file the accounts with the Companies House
- Tax rate on net profits are: 20% for the first 300,000, 30% when profit is above 1,000,000, there is a marginal relief rate for profit between the two figures
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- Incorporation Fees - from £ 665
- Renewal Fees - from £ 650
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£ 665 |
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