1. Presented by: Xtrategy Ltd
Doing business in UK
General Aspects
Presented by: Xtrategy Ltd

2. Presented by: Xtrategy Ltd.
Incorporation
Taxation
Management and Admin
Other areas of advice
Presented by: Xtrategy Ltd.

3. Incorporation / Registration: Legal Structure
Limited company
Sole trader
Limited Liability Partnership
Presented by: Xtrategy Ltd.

4. Sole Trader (Self employed)
Within three months of starting up: “register”. Go online, telephone a help line, or fill in an application form
National Insurance: Pay Class 2 Flat rate of £2.80 a week
Personal Allowance: £11,000.
Income Tax rates and taxable bands
Extra Class 4 NIC at 9% (£8,060-£43,000) and 2% over £43,000
Basic rate: 20%
£11,001-£43,000
£10,601-£31,785
Higher rate: 40%
£43,001-£150,000
£31,786-£150,000
Additional rate: 45%
Over £150,000
Presented by: Xtrategy Ltd

5. Setting up a Company Limited by guarantee
Does not have a share capital or shareholders, instead has members who act as guarantors.
Produce “Articles of Association”.
Reg: Companies House: 1 trustees (minimum)
Reg: Charity Comm: 2 trustees (minimum)
Club, charity, associations, cooperatives, and non-for-profit organisations use it to:
1. Protect assets
2. Provide separate legal identity
Presented by: Xtrategy Ltd

6. Setting up a Private Company Limited by Shares
Registration with Companies House. Company’s name, Officers, registered address.
Deliver: an annual return to Companies House
Corporation Tax: 20% (For SME)
Marginal relief on profits between £300,000 and £1.5 million
Presented by: Xtrategy Ltd

7. Limited Liability Partnership
Incorporated by: 2 or more persons (individuals and/or companies).
Registration with Companies House
Difference between an LLP and a limited company?: The main difference is that an LLP has the organisational flexibility of a partnership and is taxed as a partnership. It is to say it pays no UK tax but its members do in relation to the income or gains they receive through the LLP
Must deliver an annual return to Companies House.
Keep its accounting records for 6 years
Presented by: Xtrategy Ltd

8. Presented by: Xtrategy Ltd.
Incorporation
Management and Admin
Presented by: Xtrategy Ltd.

9. Management and Administration
Keep proper accounting records. 6 years
1. Income, sales list
2. Purchase and expenditure list
3. Receipts and invoices
4. Bank statement
Note: avoid personal payments
Presented by: Xtrategy Ltd

10. Presented by: Xtrategy Ltd.
Incorporation
Taxation
Management and Admin
Presented by: Xtrategy Ltd.

11. Presented by: Xtrategy Ltd
Taxation
TYPE
BASED ON
COMPANIES
SELF EMPLOYED
SUBMISSION
PAYE
Employees
YES
Monthly
PAYE EMPLOYEE
TAX
20%
NIC CLASS 1
12%
PAYE EMPLOYER
NIC CLASS 1A
13.80%
VAT
Sales
Quarterly
VAT: Mandatory: Turnover over £83, Voluntary regist.
Rate: 20%. Exempt. EU. Scheme (flat rate)
INCOME
Profit NO
Annual
CORPOR
29,850
less:
Salaries
12,000
Rent
5,600
Purchases
8,900
etc.
26,500
PROFIT
3,350
Limited companies
Next slide
Self employed
Presented by: Xtrategy Ltd

12. Sole trader (Self employed)
Personal Allowance: £11,000.
Basic rate: 20%
£11,001-£43,000
£10,601-£31,785
Higher rate: 40%
£43,001-£150,000
£31,786-£150,000
Additional rate: 45%
Over £150,000
Presented by: Xtrategy Ltd

13. Presented by: Xtrategy Ltd.
Incorporation
Taxation
Management and Admin
Other areas of advice
Presented by: Xtrategy Ltd.

14. Presented by: Xtrategy Ltd
Other areas of Advice
Our clients non for profit organisations and all type of Business services, product development and commercialization
Chartered Certified Accountants and Auditors
Business facilitator
Legal risk assessment: contracts, compliance, wills
Wealth management:
Property investment
Estate planning
Insurance
Presented by: Xtrategy Ltd

15. Thank you for your attention
Tel
Patricia Giraldo ACCA