INFO SERVICES
Incorporation company LTD: consists of the registration of the company, preparation of the bylaws and payment of the registration fee. All documents are then sent by email or post. The company's data are published on the British or Irish Chamber of Commerce website (Companies House, CH, and Companies Registration Office, CRO respectively).
Registration address: this is the mandatory address to be registered at the British or Irish Chamber of Commerce (CH and CRO) where it is possible to receive only the mail coming from the same and from the British Revenue Agency (Her Majestic Revenue & Customs, HMRC), or from the Irish Revenue Agency (Revenue Irish Tax & Customs, RITC).
Operational / business headquarters in Great Britain or Ireland: this is the operating address of the company where all ordinary mail is received, including parcels and so on. It can coincide with the Registration Address or not. Here, 6 teams will take care of all the processing of documents, scanning documents and redirecting mail to the address you want anywhere in the world or will go to deal with the practices at the agencies.
Company secretary: this is an optional figure in the UK since 2008, while in Ireland it is mandatory. In Great Britain, if a Company Secretary is not present, its functions are carried out by the directors (administrators). The functions of the Secretary depend on the size of the company and there are no specific definitions of its role, but generally its functions include: maintaining the company's bylaws, updating the registers held by the Companies House, managing the registered office, managing and maintaining corporate registers, organize corporate meetings and other tasks entrusted to this figure. In Ireland it is mandatory because it is the responsible figure, next to the director (director) in the keeping of the registers.
Bank account: In the United Kingdom and Ireland, unlike other states, the current account can not be opened by anyone, as there are precise restrictions. The Bank or Payment Provider wants to know the client, do the due diligence (checks on the person) and have his references. For some current accounts, the legal representative must necessarily be a resident of the State in which the account is opened. This is why opening a business current account requires a nominee service. Once the account has been opened, the nominee service can also be interrupted and the customer can register the current account as a legal representative, even if he is not a resident. The bank always wants to know the Last Beneficiary (the real beneficiary of the account) while maintaining absolute secrecy.
The difference between a bank account and a payment provider consists in the fact that both provide the current account service in one or more currencies with the only difference that the payment provider can not provide loans like a bank, some of these do not provide credit cards. debt / credit, and the account, in general, is payable to the Provider. The payments, in this case, are received by making the transfers to the Provider, putting in the reason for their number of accounts with the Provider. We will advise you on the best solution of the Current Account or Payment Provider according to your specific needs (both solutions are available). Some banking institutions require the opening of the current account after a meeting of presence with the beneficiary of the account, others can open the 'remotely' account (at a distance without the need for physical presence). We will take care of all this process of opening a current account.
Nominee directors and shareholders: With the use of Nominee (persons or companies in charge) you avoid exposing your person in the public registers of the company as director or real beneficiary: the names of the Nominees will appear to the public and in all the registers. This is the only function of the nominees and will not be able to act in any way for your account nor will they be able to access information or bank accounts. Your name will appear exclusively in the Nominee service contract (Declaration of Trust), of which you will have a copy of You and one of us in our internal files. Privacy is absolute, as guaranteed by the privacy laws.
Bookkeeping (Income and Outcome Registration) and Accounting (presentation of balances/accounts and taxes): both are required for the management of their business. Bookkeeping consists of recording financial transactions, such as expenses, income, salary payments, etc.
The bookkeeper is the one who records the financial movements of the Company day by day and transcribes the daybooks, which contain the registration of entries and exits, cash or bfees and cards, in the various "ledgers" (accounting books), accounting books. So, in short bookkeeping (Recording) is the process of recording in chronological order of the company's daily transactions, income and expenses. It is a part of the accounting.
The accounting includes the registration process, but it classifies, analyzes and interprets the financial elements and the company's performance, in order to take decisions on the business by the partners (Recording + Classifying + Summarizing + Reporting + Analyzing + Interpreting). So while the bookkeeper registers and assists the accountant, the accountant prepares budgets, tax returns, reads the financial information and also advises how to move. Often each accountant is specialized in a sector, such as financial accounting, managerial accounting, tax accounting, auditing, etc. ..)
The bookkeeper, therefore, does not need "professional license or degree", while the accountant must be registered in an order or graduate *
Accounting for Dormant company: a dormant company, although not productive, must in any case present the annual financial statements and pay the annual tax return to the HMRC or the RITC). This service includes the complete management, presentation and payment for your account of these annual charges.
Accounting for Trading Company: Unlike a dormant company, a trading company produces profits and pays taxes in relation to the profits produced. At Wellings & Williams International we can help you organize a complete range of accounting services for your new company. You will have access to our London-based and Dublin-based accounting team who will present your company's annual tax return and annual accounting to HM Revenue & Customs or Revenue Irish Tax & Customs, ensuring that everything is in order and saving you time, money and worries. We are specialized in providing financial information of your company promptly allowing you to manage your business more effectively and to monitor its financial stability.
Bookkeeping: bookkeeping, that is, the maintenance of ordinary accounting, is an additional service. You can keep records of your income and expenses on your own or make sure that we keep them and prepare them together with accounting. The cost of this service varies depending on the time needed to process the necessary documentation to be presented for the payment of taxes and for the keeping of the accounting, which varies according to the volume of business.
Accounting + Bookkeeping: the choice to entrust us with both services, allows those who administer the company not to worry more about these bureaucratic matters, but to focus on the business of growth of their business, without having to worry about deadlines and preparation of financial statements. Our experts will also be able to get you aware of new business opportunities, make your day-to-day operations more efficient, help identify ways to decrease your company's tax liability and help build long-term growth strategies. The service also includes brokerage and payment on your behalf for taxes and our advice for optimization of expenses. Correspondence with HM Revenue & Customs and Revenue Irish Tax & Customs: We will save you a lot of time and money by taking care of the whole correspondence with the HMRC or the RITC, always referring to the most appropriate department for your account.
UK or Irish landline: this service provides a British (British number) or Irish (Irish number) telephone line as needed. This raises two possibilities: this number can be answered by a real secretary in Great Britain or Ireland, or the calls can be redirected directly to your telephone number.
Branch Office in Europe or Wordlwide: You can open a branch of your British or Irish company in EU or extra EU. This branch can be of two types:
Representative office, which does advertising and marketing activities and does not produce income. Therefore, it does not require the opening of a VAT number and registration with the Local Chamber of Commerce;
Secondary office, which, as a local company in all respects, produces income on Local soil and therefore requires a VAT number from the Local Revenue Agency and registration with the Local Chamber of Commerce, if required. Unlike in the UK, in some Countries it would be necessary to go to the notary.
In this way the branch will function as a local company, but with all the advantages of being a foreign subject. Also in this case, our experience proved to be essential for the establishment and management of secondary offices in EU or extra EU and the optimization of the related taxation.
Complete assistance in English: this service is offered free by our company to all customers.
VAT Number Registration (VAT Number): * In both the UK and Ireland the VAT number is not required to be opened and is to be valued based on earnings. It is not convenient to open it immediately, but only at a later time. In Great Britain, from 1 April 2015, if your company's taxable turnover reaches £ 83,000 (GBP), you need to register the VAT Number. Once the VAT Number request has been made, it will be necessary to apply 20% of their value to goods and services (in some cases 5%). At a turnover of £ 83,000 (GBP) register the VAT of your company is mandatory, while if the turnover does not reach this limit, it is however possible to request the VAT Number voluntarily.
However, in this case there are some requirements to be met and the usefulness of this operation is to be evaluated taking into consideration the peculiar characteristics of your activity.
In Ireland, from 1 January 2012 the VAT Standard is 23% and it is necessary to apply for VAT Number for a turnover of EUR 37,500 for services and EUR 75,000 for goods. There are also VAT rates reduced to 13.5% and 9%. In case you voluntarily register your company's VAT Number proves convenient, we will not hesitate to let you know and we will assist you with the process of requesting and receiving your VAT Number.
If you want to register your company's VAT Number, it is still a simple operation and free of bureaucratic complications: in the UK HMRC is a citizens' friend and tries to understand if it is to your advantage or disadvantage to request the VAT Number, as you could go and pay more taxes than you should. By way of example, if the British taxman is wrong, he apologizes and repays in 15 days. Like banks, tax authorities "invest in you"!
Notary Public: Generally, Notary Public is not used to open companies and bank accounts. If necessary for particular practices, our company has direct contacts with UK Solicitors of the Supreme Court of England and Wales as Notary Public in Your Country of Origin or Living, accredited by the British Embassy. In some cases, if it is necessary to authenticate, for example, the signature or identify the client with his / her own document, the Local Notaries (who do not correspond to the British Notaries) or the public employees for the authentication of the signatures do not know and / or can not authenticate documents in English and, if some notary were able to do so, the costs would be very high compared to those of a British Notary Public.
Apostille for Documents and Certificates: The Wellings & Williams International also provides a wide range of services for apostille of documents and certificates. We can help you obtain certification, notarization and apostille for the following documents: Certificate of Incorporation, Memorandum of Association, Articles of Association, Certificate of Good Standing and other documents; Degrees and Diploma certificates; Personal documents (birth certificate, etc.); Any other document on request. Why is it necessary to apostille the documents? If you need to open a bank account for your company in a foreign bank or you wish to open a branch of your company outside the UK then you will need apostille documents.
The apostilles are recognized by all the member countries of the Hague Convention. Hague Convention Countries that accept Certification with Apostille: Albania, Andorra, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan; Bahamas, Barbados, Belarus, Belgium, Belize, Bosnia and Herzegovina, Botswana, Brunei Darussalam, Bulgaria; China (Hong Kong), China (Macao), Colombia, Cook Islands, Croatia, Cyprus, Czech Republic; Denmark, Dominica, Dominican Republic; Ecuador, El Salvador, Estonia; Fiji, Finland, France, FYR of Macedonia; Georgia, Germany, Greece, Grenada; Honduras, Hungary; Iceland, India, Ireland, Israel, Italy, Japan, Kazakhstan, Korea (Republic of); Latvia, Lesotho, Liberia, Liechstein, Lithuania, Luxembourg; Malawi, Malta, Marshall Islands, Mauritius, Mexico, Monaco, Mongolia, Montenegro, Moldova (Republicof), Namibia, Netherlands, New Zealand, Niue, Norway; Panama, Poland, Portugal; Russian Federation, Romania, Republic of Moldova; Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Serbia, Seychelles, Slovakia, Slovenia, South Africa, Spain, Suriname, Swaziland, Sweden, Switzerland; Tonga, Trinidad and Tobago, Turkey; Ukraine, United Kingdom, USA; Vanuatu, Venezuela.
* Legal Notice:
The Wellings & Williams International-Legal and Business Affairs, L.L.C. makes use of professionals enrolled in registers, orders and organizations with all the necessary authorizations to carry out the mandates of the customers in financial institutions, Banks and government agencies in the United Kingdom, the Republic of Ireland, the United States of America and the jurisdictions where it operates. The Wellings & Williams International-Legal and Business Affairs, L.L.C. also serves organizations and companies registered with HM Revenue & Customs, the Irish Tax & Customs, the Internal Revenue Service (IRS) of the USA and the agencies of other jurisdictions to carry out all the appropriate audits of customers in accordance with the anti-money laundering laws (MLR).