Question UK company renewal question

[OffshoreResearch]

Hi all,

The situation is a bit more complex than what it appears but let's simplify the concept to make my question.

I'll soon acquire an UK company (including its assets) currently owned by an Italian friend.
He's asserting that his Swiss tax accountant wants to charge him 3100 Eur as company renewal fees inclusive of mail forwarding to Italy while in the pass (till last year) he was paying much less (he didn't specified the previous renewal cost).

I've the feeling his consultant is speculating a lot over him, am I correct ?

So I need to understand how renewing the yearly company registration by ourselves and how easily it may be changing his address by using any other existing cheaper mail forwarding service.
Kindly provide detailed steps to reach the above goals, thank you.

We're talking of a simple Ltd having a foreign administrator/sole shareholder.
The administrator is an EU citizen just in case the Brexit should have some effects in this specific circumstance.

 

[leorts]

1. The current shareholder(s) sells their share(s) to you.
2. The current director(s) passes a resolution to appoint you as a director, and resigns.
3. You subscribe to a service like expost.uk (cost £240 py + postage, they can also scan mail. ask me for a referral).
4. You file a confirmation statement with Companies House (cost £13) to update the director and registered address.
5. You contact the company’s banks to inform them of the changes.
6. You find your own UK chartered accountants which will be considerably cheaper. I pay 1020 py VAT included and I run a crypto business with 6-figure revenue likely to turn 7-figure this year. (I do my own bookkeeping and payroll.)

The nationality or residence of shareholders and directors is of no relevance when it comes to the UK legislation. Some banks might not like a non-UK resident director though.

 

[OffshoreResearch]

Thanks for the usefil & detailed advice leort, appreciated.
I'm still travelling abroad but I should be back at home in a couple of weeks so I'll start to work on the company ownership transfer.

Thanks for recommending expost.uk that I'll use for sure in the near future (the negotiation to take full possess of the company will probably takes still few weeks).

Feel free to PM me your referral link of whom I'll take a note and I'll be happy to sign under you once the time will come.

 

[Ready Offshore]

Hi all,

The situation is a bit more complex than what it appears but let's simplify the concept to make my question.

I'll soon acquire an UK company (including its assets) currently owned by an Italian friend.
He's asserting that his Swiss tax accountant wants to charge him 3100 Eur as company renewal fees inclusive of mail forwarding to Italy while in the pass (till last year) he was paying much less (he didn't specified the previous renewal cost).

I've the feeling his consultant is speculating a lot over him, am I correct ?

So I need to understand how renewing the yearly company registration by ourselves and how easily it may be changing his address by using any other existing cheaper mail forwarding service.
Kindly provide detailed steps to reach the above goals, thank you.

We're talking of a simple Ltd having a foreign administrator/sole shareholder.
The administrator is an EU citizen just in case the Brexit should have some effects in this specific circumstance.

In the UK the costs are low, of less than 100 euros for registered office address. I recommend that you contact an accountant when you will submit accounts and confirmation statement.

 

[OffshoreResearch]

Surely I'll get in touch with a local tax accountant once I'll have acquired this company to avoid any possible form of speculation.