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The United Kingdom is one of the world’s biggest financial centers with one of the second largest economies in Western Europe (after Germany). The UK is not a tax haven, but it offers quite low company tax rates compared to other EU countries. With proper company structure UK tax can be minimized or entirely eliminated.
Characteristics of Limited (UK Ltd.) company in UK:
Characteristics of LLP company in UK:
Most popularly use are UK Limited companies (ltd.)
The Limited Liability Partnership (UK LLP) has been introduced in the UK since April 2001, pursuant to the LLP Act 2000. The UK LLP incorporates the tax transparency of a partnership and separate legal identity benefits of a company. UK corporate tax is avoided completely if there are non-resident partners in company and if the LLP carries on business outside the UK. The LLP Partnership Agreement is specially drafted to allocate 100% profits to the non-resident partner.
Both UK Ltd. and UK LLP companies are popularly used as:
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Standard CIT rate is 24%. Company profits less tan £300,000 are taxed in UK at rate 20%. For taxable base reduction UK company Agency Structures are often used.