Quote request from a business in EC14
- Created on
- Sun 18 January 2015 1:16pm
- Region
- EC14
- Type
- Business
Business details
- Number of employees
- 1
- State of records
- Well organised
- Business age
- Less than a year
- Current turnover
- None yet
- Type of business
- Limited company (Ltd)
I’m an Italian citizen and I have an online education startup with three other co-founders, one Belgian, one Italian, and one Brazilian.
We are considering moving the business in the UK, and I have some very specific questions before we make our decision.
Business description: essentially a crowdfunding site (users exchange "donations" and we keep a small fee for transactions). Average donation is £5, so our revenue per transaction is 30p-£2.
Questions:
1. What form of company do you suggest we use and why? (We are now a Delaware C. Corp in the U.S.)
2. What is the total cost of opening a fully operational company on the UK as an Italian citizen? (including bank account)
3. What is the easiness of doing business in Europe and Internationally, and are there limitations I should be aware of?
4. We have two investors using a convertible note. Is this doable in the UK? Can they be converted into share at some point? Are there any costs associated to it?
5. When we pay the founders a stipend, are there taxes or other expenses for the company?
6. If we hire someone (non UK citizen) are there any additional costs for the company? (state taxes, bookkeeping, etc.)
7. Same question, for UK citizens.
8. In our incorporation documents, we will define how are shares distributed among owners and investors (owners are belgian, italian, and brazilian), with cliffs and vesting. Is this doable/acceptable in the UK?
9. Our business is expecting to have a revenue of £200K in 2015, quite possible made out of about 200K micropayments, coming from more than 50 countries (mostly Europe, North and South America). What is the expect cost of bookkeeping, accounting and tax filing (inclusive of ALL costs) for this kind of business?
10. Are there other costs I should be aware of or operational things to do? (e.g. go to London in person at some point for any reason).
11. For 2016, we expect a revenue of £3 million, coming from 3 million microtransactions. How much is bookkepping, tax filing, etc. expected to be in 2016?
12. Can you please provide me a quote for our business, should we decide to use your services?
NEED AN ACCOUNTANT TO CONTACT ME VIA EMAIL FIRST OFF!
We are considering moving the business in the UK, and I have some very specific questions before we make our decision.
Business description: essentially a crowdfunding site (users exchange "donations" and we keep a small fee for transactions). Average donation is £5, so our revenue per transaction is 30p-£2.
Questions:
1. What form of company do you suggest we use and why? (We are now a Delaware C. Corp in the U.S.)
2. What is the total cost of opening a fully operational company on the UK as an Italian citizen? (including bank account)
3. What is the easiness of doing business in Europe and Internationally, and are there limitations I should be aware of?
4. We have two investors using a convertible note. Is this doable in the UK? Can they be converted into share at some point? Are there any costs associated to it?
5. When we pay the founders a stipend, are there taxes or other expenses for the company?
6. If we hire someone (non UK citizen) are there any additional costs for the company? (state taxes, bookkeeping, etc.)
7. Same question, for UK citizens.
8. In our incorporation documents, we will define how are shares distributed among owners and investors (owners are belgian, italian, and brazilian), with cliffs and vesting. Is this doable/acceptable in the UK?
9. Our business is expecting to have a revenue of £200K in 2015, quite possible made out of about 200K micropayments, coming from more than 50 countries (mostly Europe, North and South America). What is the expect cost of bookkeeping, accounting and tax filing (inclusive of ALL costs) for this kind of business?
10. Are there other costs I should be aware of or operational things to do? (e.g. go to London in person at some point for any reason).
11. For 2016, we expect a revenue of £3 million, coming from 3 million microtransactions. How much is bookkepping, tax filing, etc. expected to be in 2016?
12. Can you please provide me a quote for our business, should we decide to use your services?
NEED AN ACCOUNTANT TO CONTACT ME VIA EMAIL FIRST OFF!
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