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  1. UG, Ltd and accounting

    Hi everyone,   I would be very grateful for your inputs. Here is my situation.   I am a management consultant based in Hamburg and want to start an online business. It will be an online marketplace and I am not expecting to make any profits in year 1, nor do I expect to make a lot of transactions during this period (mainly just paying people to build the site and some online advertising). So the transactions will be minimal for the accounting side of things. Since there will be no profits made in year 1, keeping costs to an absolute minimum is of high importance for me.   The company: I am very much tempted to go down the LTD route in the UK, an UG will cost me around €500 and at the moment & all I need is a company name to be basically taken seriously by people I am contacting (globally), plus registering a limited company in the UK is rather fast. Is the LTD route in your opinion better than UG for someone who just needs a company? (let's ignore Brexit for now).   Tax: I am a tax resident in Germany. I have a day job and pay income tax already and will operate my company from here so the Ltd will be tax liable here. As I mentioned earlier the book entries will be minimum for year 1. I understand that an Ltd is treated like a UG or GmbH here? Do you think with the help of available software, it would be possible that one submits double accounts and the annual financial statement by themselves? I do have an MBA and am quite familiar with what they are but for obvious reasons, every accountant gives me horror stories of how much trouble I will get myself into.   I would be very grateful for your advice.   Thank you kindly  
  2. I'm going to form a new company. In Ireland.    The product is a UWB tester. Currently the main aspect of my tester is that it simulates distance. Because that is what UWB measures. It does this by choosing a set of cables of various lengths for the signal to run through. These cables tend to come in multiples of inches. And since one inch is 25,4mm also multiples of 100mm. I find it easier to think in inches because of cable choices but there are three kinds of inches.   If a light year or light seconds is a measure of distance. Then a light inch is a measure of time. The time taken for light to travel 1 inch. This is 0.254/c = 85ps or 85 trillionths of a second.   But electricity doesn't travel as fast as light. About 2/3 light speed in a cable, and 1/2 light speed on a PCB (printed circuit board) So a cable inch is about 127ps and a PCB inch about 170ps.    So what to call the company "Uwbtest". Describes the company's first product very well which is often a bad idea. I own the domain "Light Inch". Cool name and it is my fundamental unit of time. "Quantum Inch" Anything with quantum in it rocks "Time Lords" Well the tester is a very limited time machine. It delays things by trillionths and billionths of a second. The BBC might have something to say. In fact I've Emailed them but no answer yet. "Mad Axe" Frankly that was an after thought.   And thoughts? Feedback   Below is a picture of the "time machine" ehhmmm tester. And some technical blurb I wrote.      
  3. tax on company distributions

    Does anyone know how company distributions affect taxes? If I receive distributions from a company I have shares in, how is that taxed? is it taxed?   thanks