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The company formation process in the UK can be very simple, easy and quick; there are three ways to register a company. A company can be registered by sending the paper application forms directly to Companies House, or alternatively online by using a company formation agent or through the Companies House Web Incorporation Service. Companies House figures show that there were 51,000 incorporations in March 2014, out of which 98% were electronically incorporated. There are a number of formations agents in the UK who have been tested and can submit electronic incorporation applications. The benefit of using a company formation agent instead of registering directly with Companies House is that specialist advice can also be provided throughout the company formation process. It is usually easier to use company formation agents to register a company. It is also generally more beneficial for non-UK residents, because they are not only provided with specialist advice from business accountants and tax advisors, but are also provided with important services that may be necessary. These services may include registered office service, company secretarial services, VAT registration, registration as an employer (PAYE), accounting services and business planning. Non-UK residents who do not have a provider of such services may benefit by having them all available at the incorporation stage. There are a number of requirements that need to be considered while incorporating a company and legal obligations that need to be fulfilled. Company formation agents, particularly those backed by Chartered Accountants, can provide the right advice along with additional services. Formation agents that provide accounting, administrative and tax services can help to ensure that all legal obligations and requirements are fulfilled. A tax accountant can help to ensure that the correct and lowest amount of tax possible is paid by providing efficient financial and tax advice. A chartered accountant would provide advice on the necessary accounting services required by the company and business planning that would benefit the company in the longer term. Wisteria Ltd can offer a consultation with a Chartered Accountant, Chartered Tax Adviser or one of our Business Accountants in London, before registering your company. This gives the director a better idea of all the necessary company formation requirements. After your company incorporation, you are also entitled to a one hour tax, accountancy and business advice meeting at the Wisteria office in Edgware, London or over the telephone with either our Chartered Accountant or Chartered Tax Adviser. Wisteria Chartered Accountants, Tax and Business Advisers provide a variety of services for companies and individuals. For accounts or tax advice, information on our services or details on setting up a company if you are a UK or a non-UK resident, please contact us on 0208 952 0140 or email [email protected].
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