Ths is great, is this the right process for setting up a LTD company as 3 leaseholders coming together to purchase a freehold as one entity? If so, which code would be best to put for the SIC please?
I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director
Sadly not as there is a lot of detail here. Get a professional. I do not recommend o DIY approach. I would not do it myself and have legal experts draft my companies articles
Thanks for the video. Me and my wife set up a limited company, each owning half the company with equal shares and same rights. When we formed the company we selected ordinary A shares and B shares ( Me 50% A shares and her 50% B shares). We didn’t make any amendments to the model articles, we just accepted it as it was on companies house. Those this mean when paying dividends each month, would we both have to receive the same amount? Or we can decide together who receives what amount. ?
As long as the shares are paid into separate bank accounts you should be fine provide that you check on Companies House that they are indeed the correct shares
Thanks, great video! For the Alphabet share, do the model articles need to be amended in the future before the company pays a higher dividend to my spouse?
In the event of death who would be able to run the business? Someone else would need to get a court order to become a director, which could take a long time
Hi I'm a British national presently living in France but wishing to return back to the UK soon. Thank you for answering one of my questions which is basically to add my daughter as a shareholder too. When you set up the Company can I specify for example, 60% shareholding myself and 40% my daughter? I wish to create a Company for online e commence business selling on shopify, Etsy, amazon etc. for print on demand and digital download products, do you offer setting up this type of Company too? Thank you
What services do you provide.I might need here and there consultation on what I am venturing into, that's if your charges are reasonable, that will be great. Please let me know.
If you are referring to a limited company code then you do not need one for property maintenance as you would use 68209 rental property or 683 100 for property flips
A business bank account is relative to the limited company and not the individual shareholders. You can have one, two, three or more shareholders that have access to the bank account
@@UK-Property-Tax-Accountants yes i want to register ltd in UK..i watch your video...i want to know ,is there is same bank account that is made for one shareholder and multiple shareholders ..or is different bank account for LTD which have shareholders..
Please see my previous comment. The bank account has nothing to do with the shareholders. A UK limited company will need its own bank account. The bank account will be in the name of the UK limited company but the shareholders whoever they are may be named on the account.
Thanks for the video! This is probably a silly question, but why is it not a good idea to have a single shareholder/sole director? You’re the only person I’ve seen to mention this… it would be difficult for me as I have very few family members, no children and I don’t need any others for investment etc. 😬 I’ve watched several of your videos and looked though your entire catalogue but can’t find a video primarily about this, is there a video I should watch that explains all? Thanks in advance. Have a great day.
Having a limited company with one shareholder one director as problematic if you should become unconscious. Who would be able to deal with the company affairs if you are in a coma? Nobody? Equally if you are dead who can then take care of the company? Do you have a long drawn out process through the courts or anyone of your friends or family to take control of the company
@@UK-Property-Tax-Accountants thanks so much. My guess was incapacitation… with all the considerations and things that need addressing when starting an ltd, I’m surprised this isn’t mentioned more! Something I nearly overlooked, clearly. Thanks for all the tips and videos 👍
Just had a good conversation with a solicitor… the way around the sole director/shareholder incapacitation or death is a Will, LPA and amended Model Articles to allow appointed attorney to take decisions for the director. Simply adding a shareholder requires a similar approach to sole director as the shareholder/s have given up the right of director control. And even a two director, two shareholder structure needs attention and has issues, she writes: Absent a shareholders’ agreement, provisions in the Wills and/or a Lasting Power of Attorney, unless there are provisions to the contrary in the articles of association, board meetings may not be quorate (one director not being sufficient) and a 50% shareholder cannot pass an ordinary resolution to appoint another director. Companies with two directors who are also 50/50 shareholders are known as “deadlocked” companies because one director or shareholder cannot make decisions or pass resolutions without the other’s support. It is important to have a shareholders’ agreement in place with a mechanism for breaking the deadlock, or to make provision in the Wills and Lasting Powers of Attorney for both director/shareholders to avoid deadlock leading to stalemate and the demise of the company. - All the best, Sam.
Sir how much will HMRC charges for Corporation tax and what is the next process after registering for ltd and corporation tax ? I created my ltd company just for doing amazon fba.
@@UK-Property-Tax-Accountants I registered for ltd company but they said that I also registered for Corporation tax and HMRC will contact me separately. Now for registering Corporation tax how much I need to pay now because as a new company I donot generated any revenue whatsoever
@@UK-Property-Tax-Accountants And does every ltd company based in uk must have a Corporation tax and what will be happened if I do not register for Corporation tax certificate? Will HMRC remove my ltd company? Because in Amazon a ltd company has to pay tax after passing 85k pound.
@giuseppebonelli it might be better for you to use a specialist like us to set up the company for you. That way we can do all the necessary checks and set up a company correctly.
@@UK-Property-Tax-Accountants in reality I Think who Is really Easy incorporate a Company in UK ,in Italy is different, much different I'd like do by myself but I have not a passport, only identity card for this I asked if Is possibile use the identity card, on the final step when I pay during register process
Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx Corporation tax calculator www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/uk-limited-company-corporation-tax-calculator/
Request a call back: If you are looking for a new US or UK real estate property tax specialists contact us here: survey.zohopublic.com/zs/80zrXp
Ths is great, is this the right process for setting up a LTD company as 3 leaseholders coming together to purchase a freehold as one entity? If so, which code would be best to put for the SIC please?
Yes it is the right process to follow. Not sure of the SIC code offhand but Companies House is searchable 👍
I’m about to create a LTD company to buy property for BTL. Can you advise me that when incorporating the company WHAT IS the correct wording of the model articles have been incorporated regarding a sole director
Sadly not as there is a lot of detail here. Get a professional. I do not recommend o DIY approach. I would not do it myself and have legal experts draft my companies articles
Thanks for the video. Me and my wife set up a limited company, each owning half the company with equal shares and same rights. When we formed the company we selected ordinary A shares and B shares ( Me 50% A shares and her 50% B shares). We didn’t make any amendments to the model articles, we just accepted it as it was on companies house.
Those this mean when paying dividends each month, would we both have to receive the same amount? Or we can decide together who receives what amount. ?
As long as the shares are paid into separate bank accounts you should be fine provide that you check on Companies House that they are indeed the correct shares
Thanks, great video! For the Alphabet share, do the model articles need to be amended in the future before the company pays a higher dividend to my spouse?
A thorough review will always be required. Glad you found the video useful.
If I already have ID gateway as payee ?? Do I have to have another one?
Yes you will
I use Last Pass to store passwords and usernames etc
Great tip, thank you for sharing
The video was great. Why do you mean by the sole director is not good??
In the event of death who would be able to run the business? Someone else would need to get a court order to become a director, which could take a long time
Hi I'm a British national presently living in France but wishing to return back to the UK soon. Thank you for answering one of my questions which is basically to add my daughter as a shareholder too. When you set up the Company can I specify for example, 60% shareholding myself and 40% my daughter? I wish to create a Company for online e commence business selling on shopify, Etsy, amazon etc. for print on demand and digital download products, do you offer setting up this type of Company too? Thank you
We sure do and you can book this with us here: optimiseaccountantsltd.as.me/?appointmentType=35146117
What services do you provide.I might need here and there consultation on what I am venturing into, that's if your charges are reasonable, that will be great. Please let me know.
Please see our website for details: www.optimiseaccountants.co.uk/
Hi there, I would like to set up a weight loss & wellness company, which SIC code will I have to use please? Thanks for the reply.
You could use; 86900 Other human health activities
@@UK-Property-Tax-Accountants Thank you very much for that, you really made my day!
I am delighted that I can make someone’s day.
Have a tremendous week
is it possible to register LLC for non-residence UK ??
It is possible to set up a UK limited company for non-UK residents 👍
Plz make a vedio how to open business bank account..
Ok will do 👍
How much is your fee to set Ltd up?
How to contact you?
Please visit our website here www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/
Brilliant Video, what would be the code for property maintenance repairs etc, Thank you
I am not sure I understand. Would you elaborate for me?
If you are referring to a limited company code then you do not need one for property maintenance as you would use 68209 rental property or 683 100 for property flips
@@UK-Property-Tax-Accountants Thank you
Always welcome 🙏
@@UK-Property-Tax-Accountants I've watched your video three times, & the part you explain about shares, helped me a lot. Thanks
Is business bank account is same as one shareholder and two shareholders
A business bank account is relative to the limited company and not the individual shareholders. You can have one, two, three or more shareholders that have access to the bank account
@@UK-Property-Tax-Accountants yes i want to register ltd in UK..i watch your video...i want to know ,is there is same bank account that is made for one shareholder and multiple shareholders ..or is different bank account for LTD which have shareholders..
@@UK-Property-Tax-Accountants thanks for your immediate reply
Please see my previous comment. The bank account has nothing to do with the shareholders.
A UK limited company will need its own bank account. The bank account will be in the name of the UK limited company but the shareholders whoever they are may be named on the account.
Thanks for the video! This is probably a silly question, but why is it not a good idea to have a single shareholder/sole director? You’re the only person I’ve seen to mention this… it would be difficult for me as I have very few family members, no children and I don’t need any others for investment etc. 😬
I’ve watched several of your videos and looked though your entire catalogue but can’t find a video primarily about this, is there a video I should watch that explains all?
Thanks in advance. Have a great day.
Having a limited company with one shareholder one director as problematic if you should become unconscious.
Who would be able to deal with the company affairs if you are in a coma? Nobody?
Equally if you are dead who can then take care of the company? Do you have a long drawn out process through the courts or anyone of your friends or family to take control of the company
@@UK-Property-Tax-Accountants thanks so much. My guess was incapacitation… with all the considerations and things that need addressing when starting an ltd, I’m surprised this isn’t mentioned more! Something I nearly overlooked, clearly. Thanks for all the tips and videos 👍
Just had a good conversation with a solicitor… the way around the sole director/shareholder incapacitation or death is a Will, LPA and amended Model Articles to allow appointed attorney to take decisions for the director.
Simply adding a shareholder requires a similar approach to sole director as the shareholder/s have given up the right of director control.
And even a two director, two shareholder structure needs attention and has issues, she writes:
Absent a shareholders’ agreement, provisions in the Wills and/or a Lasting Power of Attorney, unless there are provisions to the contrary in the articles of association, board meetings may not be quorate (one director not being sufficient) and a 50% shareholder cannot pass an ordinary resolution to appoint another director.
Companies with two directors who are also 50/50 shareholders are known as “deadlocked” companies because one director or shareholder cannot make decisions or pass resolutions without the other’s support. It is important to have a shareholders’ agreement in place with a mechanism for breaking the deadlock, or to make provision in the Wills and Lasting Powers of Attorney for both director/shareholders to avoid deadlock leading to stalemate and the demise of the company.
- All the best, Sam.
You are more than welcome 🙏
Very nice insights thank you for sharing. This will be very helpful to others 🙏
Thank you very much sir.
You are very welcome
Sir how much will HMRC charges for Corporation tax and what is the next process after registering for ltd and corporation tax ? I created my ltd company just for doing amazon fba.
It very much depends on how much money you make. My guess is that you are likely to face 19% corporation tax.
@@UK-Property-Tax-Accountants After crossing 85k right?
@@UK-Property-Tax-Accountants I registered for ltd company but they said that I also registered for Corporation tax and HMRC will contact me separately. Now for registering Corporation tax how much I need to pay now because as a new company I donot generated any revenue whatsoever
I think you are referring to VAT. Please do get some tax advice
@@UK-Property-Tax-Accountants And does every ltd company based in uk must have a Corporation tax and what will be happened if I do not register for Corporation tax certificate? Will HMRC remove my ltd company? Because in Amazon a ltd company has to pay tax after passing 85k pound.
Can I register a UK Company also I am Italian and my residence is in Italy after the Brexit. I'd like to work in England not Italy
You can set up a UK company from anywhere in the world 🌎
@@UK-Property-Tax-Accountants Do I Need of passport for register my Company or can I use my identity card? I am on UE Italy
@giuseppebonelli it might be better for you to use a specialist like us to set up the company for you. That way we can do all the necessary checks and set up a company correctly.
@@UK-Property-Tax-Accountants in reality I Think who Is really Easy incorporate a Company in UK ,in Italy is different, much different I'd like do by myself but I have not a passport, only identity card for this I asked if Is possibile use the identity card, on the final step when I pay during register process
Good 👍
Thank you 🙏
Thank you very much for the video
You are welcome
Need a buy to let mortgage? survey.zohopublic.com/zs/GuCCYx Corporation tax calculator www.optimiseaccountants.co.uk/what-is-a-uk-property-investment-company/uk-limited-company-corporation-tax-calculator/
Thank for the video. I am trying to register my business at the minute but struggling with the process. Do you have an email I contact you on? Thanks
We can for the company for you for £795 but can’t help on a pro bono basis sadly