If you have a business in Italy or you are considering the idea of opening a business England is an option to be considered carefully. It is no coincidence that more and more European entrepreneurs are choosing Great Britain to manage their business, open a company, a commercial or professional activity. But what are the main advantages for those who choose to start a business in the country? Let’s go through them together.

Simplified bureaucracy

One of the reasons why more and more entrepreneurs come to England is its simplified bureaucratic structure. In fact, the British government has been aiming to simplify bureaucratic processes for years, giving citizens access to telematic tools that allow them to carry out all the main operations in the fiscal and non fiscal field.

Facilities that offer the possibility of conducting operations such as:

• Opening a company (LTD) in 24 hours by following the online procedure
• Requesting a VAT number in a few hours by applying directly online, or in a few weeks if you need to send the form by post.
• Paying VAT or claiming a VAT refund from HMRC’s official website by bank transfer or by debiting your bank account.
• Paying your annual corporation tax and personal tax directly online

These are just some of the simplified procedures that any entrepreneur starting a business in England can access, thus limiting the costs of the accountant and speeding up the operations of the company.

Favourable taxation

A major advantage for those who open a business in England is certainly the taxation. In Great Britain for companies you pay a tax of 19% on the net earnings of the company. For example, if you earn after expenses £ 100,000, the tax payable to the tax authorities will be equal to £ 19,000. In addition, for some companies that start their business in subsidised sectors, the rate from 19% can be reduced to 15%.

Iter

Opening an LTD in England provides a very simple bureaucratic process that can be managed completely online. Or if you are not yet resident in the country, you can get help for the opening of the LTD from intermediary companies (you can find them easily by searching on Google, or you can rely on more professional agencies such as GR Formation), which take care of the entire procedure for the correct establishment of the company in England. Whether you choose to start your LTD business from HMRC’s website or get help from experienced advisors, the process of opening your LTD business involves a few simple steps:

• Choosing the LTD name (being careful not to use names that are similar or the same as those of pre-existing companies)
• Appointment of the company administrator who is responsible for all LTD management operations. The administrator may be either a member of the corporation or an outside professional appointed specifically to perform this role.
• Creation of bylaws and memorandum. They are used to establish the rules of the LTD, the relationship between the partners, the cadence of the council between the shareholders, the cost of shares, etc…
• Registration with HMRC, the body that handles taxes and taxation.
• Opening a current account in a British bank in the name of the LTD company

Costs of opening an LTD company

What are the costs of opening an LTD company in England? The costs of opening an LTD company are among the lowest in Europe. Those who open an LTD company through the HMRC online site will have to pay a £12 registration fee by debit card or PayPal account. The cost of opening an LTD by mail is 40 pounds.

In this case, it will take between 8 and 10 days to open and you will have to pay by cheque made payable to Companies House. Finally, it is possible to register through an intermediary, in which case the cost depends on the agent you use, but is usually around £200. Finally, if you need to write a specific charter or memorandum for your LTD, you need to consider the cost of the consultant who will draft the various articles according to your needs.