Main benefits of the jurisdiction:
- Political and economic stability
- Strengthening the image of the company
- High level of ease of doing business
Rates for Corporation Tax years starting 1 April for 2023 & 2022
| Rate | 2023 | 2022 |
|---|---|---|
|
Small profits rate (companies with profits under £50,000) |
19% |
- |
|
Main rate (companies with profits over £250,000) |
25% |
- |
|
Special rate for unit trusts and open-ended, investment companies |
20% |
20% |
| Rate | 2023 | 2022 |
|---|---|---|
|
Small profits rate (companies with profits under £50,000) |
19% |
- |
|
Main rate (companies with profits over £250,000) |
25% |
- |
|
Main rate (all profits except ring fence profits) |
- |
19% |
|
Marginal Relief lower limit |
£50,000 |
- |
|
Marginal Relief upper limit |
£250,000 |
- |
|
Standard fraction |
3/200 |
- |
|
Special rate for unit trusts and open-ended, investment companies |
20% |
20% |
Offered types of entities: Private limited company by shares, Private company limited by guarantee, Private unlimited company, Public limited company (PLC), Limited Liability Partnership (LLP), General partnership, Limited partnership, Sole proprietorship, Community interest company, Charitable incorporated organization.
Disclosure rules:
- Public Registry of Ultimate Beneficial Owners: Yes
- Public Registry of Companies: Yes
- Possibility to avoid disclosure by using nominee services:
Time to incorporate: Starting from 24 hours. Shelf companies including bank accounts available
Main benefits of the jurisdiction:
- Political and economic stability
- Strengthening the image of the company
- High level of ease of doing business
Taxation:
- Corporation Tax: 18%
- Capital Gains Tax: 18-28%
- VAT: 20% (reduced rate at 5% or 0%)
Offered types of entities: Private limited company by shares, Private company limited by guarantee, Private unlimited company, Public limited company (PLC), Limited Liability Partnership (LLP), General partnership, Limited partnership, Sole proprietorship, Community interest company, Charitable incorporated organization.
Disclosure rules:
- Public Registry of Ultimate Beneficial Owners: Yes
- Public Registry of Companies: Yes
- Possibility to avoid disclosure by using nominee services:
Time to incorporate: Starting from 24 hours. Shelf companies including bank accounts available