This is the big question of the moment for many professionals who wish to continue to undertake. But is it really a good time to embark on a new adventure and create a structure on this side of the Channel?
To go forward or wait, that is the question. The creators of society still know what they are exposed to today. The formalities and constraints have not changed in recent months. For a " Limited company The company must always prepare a balance sheet and tax package 12 months after the end of the fiscal year. She then has 9 months to pay the corporation tax. This means that it has 21 months after the creation of the company to pay the tax on profits which, in terms of cash flow, is not negligible.
The Johnson government also did not reverse the Corporate Tax cut announced in the 2016 Budget. The tax rate should go from 19% to 17% as expected on April 1, 2020, and there have been discussions to lower it to 12.5%, which rate is applied in Ireland.
Question formalities, it is impossible to predict the future … what can change (or not) after October 31. "It must be emphasized that anything done before the official Brexit date will be taken for granted". This is the answer given by Euro Accounting Ltd which has received many more requests in recent months from business leaders hesitating between wait-and-see and optimism.
An expert to support entrepreneurs and businesses
To answer these questions and allow as many people as possible to launch, Euro Accounting Ltd has designed a special package for the creation of an LTD before Brexit. Offer valid until 31/10/19.
The package includes: the creation of the company, the domiciliation in London for 1 year, registration for VAT and an English phone number for 3 months.
Some customers may choose to start their own business now and see what will happen. They can leave it "dormant" while everything is flattening. On this side of the Channel, this is not a problem because a "sleeping" company just has to prepare a "small" report at the end of the year and the "confirmation statement" and is not in any way subject to taxes or contributions. This means that as long as the company does not record sales or movements, there is no taxation.
Established in the United Kingdom for 10 years, the Euro Accounting Ltd firm has an excellent knowledge of the legislation in the country, but also beyond its borders. He notably assists companies located in France, England or Ireland for all that is company creation, virtual office, personal or corporate taxation, international taxation, VAT, payroll, management accounts and consolidation.
At a time when the UK is about to leave the EU, it is important to be well accompanied to learn about any future opportunities or impacts.
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