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Running head: ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK

Establishing a legitimate business ente ! ise in the UK Name: Instituti"n:

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK A business ente ! ise is an$ " gani%ati"n &h"se aim is t" ! "du'e g""ds and se (i'es )" ! ")its* These g""ds and se (i'es a e dist ibuted t" the end use s )" thei '"nsum!ti"n* These businesses 'an be "&ned b$ an indi(idual+ ,n"&n as a s"le ! "! iet" shi! " b$ a g "u! ") !e"!le &hi'h e)e s t" as !a tne shi!* The ente ! ise sh"uld "!e ate unde the ules and egulati"ns ") the Business A't ") the '"unt $ &he e the$ a e situated -Keenan . Ri'hes+ #//0+ !!*1#/1* Based "n the Business A't ") the United Kingd"m+ this !a!e &ill the e)" e+ gi(e a

e!" t ") a s")t d in, ! "'essing !lant ,n"&n as 2ail$ P "'essing Limited+ &hi'h is t" "!e ate in "ne ") the t"&ns ") the United Kingd"m* This '"m!an$ &ill be es!"nsible t" dist ibute thei ! "du'ts &ithin the United Kingd"m and the e)" e+ &ill be e3ui ed t" "!e ate &ithin the la&s ") the United Kingd"m* This !a!e &ill ! "(ide a b ie) des' i!ti"n ") the '"m!an$ t" be set u!+ a des' i!ti"n ") h"& the '"m!an$ &ill be legall$ set &ithin the legal s$stem ") the United Kingd"m* It &ill als" gi(e a des' i!ti"n ") the United Kingd"m ta4ati"n s$stem and the e))e'ts ") the s$stem t" the '"m!an$* M" e"(e + the !a!e &ill sh"& h"& the '"m!an$ &ill be un &ithin the legal ights ") the United Kingd"m* Description of the Daily Processing Limited A 2ail$ P "'essing Limited is s")t d in,s ! "'essing !lant+ &hi'h &ill be ! "du'ing a (a iet$ ") s")t d in,s+ ! "'essed ) "m a (a iet$ ") ) uits su'h as lem"n+ mang"es+ !inea!!le+ !a&!a&+ and bananas* This '"m!an$ is a !a tne shi! " gani%ati"n+ '"m!"st ") th ee sha eh"lde s ) "m United States+ United Kingd"m+ and "the )i(e membe s ) "m the A) i'an '"ntinent -H"me . Bu "&s+ #/1/+ !!*1561* These sha eh"lde being ) "m di))e ent '"unt ies+ it &ill be eas$ )" the ! "du'ts ") this '"m!an$ t" be dist ibuted t" "the '"unt ies* The '"m!an$ &ill be e3ui ed t" dist ibute its ! "du'ts t" '"nsume s b$ "!ening b an'hes in di))e ent !a ts ") the United Kingd"m and "the '"unt ies )" them t" !enet ate in the inte nati"nal ma ,et* It &ill

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK

als" '"me u! &ith its &ebsite that &ill all"& thei sta,eh"lde and es!e'iall$ the 'ust"me s t" get an$ in)" mati"n ega ding the '"m!an$ "nline* This &ill als" ! "(ide "the se (i'es li,e "nline sh"!!ing+ &hi'h &ill sa(e the 'ust"me s time and m"ne$* The '"m!an$ &ill als" ' eate a manage ial s$stem+ &hi'h &ill '"m! ise managing di e't" + manage s )" di))e ent de!a tments su'h as Human Res"u 'e+ 7inan'e+ P "du'ti"n+ and In)" mati"n Te'hn"l"g$ am"ng "the * A!a t ) "m the manage + the '"m!an$ &ill be '"m!"sed ") the &" ,e s and "the elated b"dies* In " de )" the ! "du'ts ! "du'ed t" be uni3ue ) "m "the ! "du'ts in the ma ,et+ the '"m!an$ &ill be e3ui ed t" '"me u! &ith a uni3ue b anding &ith a l"g" ") 28P as its b anding -G eat B itain+ #//9+ !!*15:1* The manage ial s$stem &ill need t" "!e ate &ithin s"me ules and egulati"ns in " de t" &" , t"&a ds the "b;e'ti(es ") the business* The manage s &ill ha(e t" ! "(ide the )inan'ial statement ") the '"m!an$ &ithin the sti!ulated !e i"d+ hen'e+ &ill hel! in ,n"&ing the ! "g ess ") the '"m!an$+ &hi'h &ill hel! the '"m!an$ t" ,n"& &hethe the '"m!an$ is m"(ing t"&a ds the set "b;e'ti(es* In 'ase ") an$ misunde standing " un'lea in)" mati"n in the statement+ the manage s '"n'e ned &ill be e3ui ed t" gi(e a 'lea statement "n the issues aised* The e)" e+ an a ea ") '"n'e ned t" be &at'hed b$ the "&ne s ") the '"m!an$ is the management ! "g ess* Setting of the Company within the United Kingdom legal system All business )i ms in an$ '"unt $ must "!e ate &ithin the business la&s ") that '"unt $* These business la&s a e unde the <"m!an$ A't+ &hi'h e3ui es that the businesses a e egiste ed be)" e the$ sta t "!e ati"n* t" "!e ate in the United Kingd"m The 2ail$ P "'essing Limited &ill ha(e t" "be$ all the ules and egulati"ns as indi'ated in the <"m!an$ A't ") #//9 -Re%aee+ #//0+ !! 1=/1* This '"m!an$ being a limited '"m!an$+ it is e3ui ed t" ha(e a

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK minimum ") se(en membe s as a e3ui ement )" its egist ati"n* This '"nditi"n sh"uld be met be)" e "btaining the egist ati"n d"'ument ) "m the g"(e nment* The '"m!an$ sh"uld be in the

!"siti"n ") ! "(iding its )inan'ial statement+ &hi'h in'ludes the sta ting 'a!ital and the list ") the initial sha eh"lde s ") the '"m!an$ )" a!! "(al* The '"m!an$ &ill als" be e3ui ed t" gi(e the statement ") the ! "!"sed "))i'e s ") the '"m!an$+ in'luding the statement ") '"m!lian'e* A)te ma,ing su e that the '"m!an$ has '"m!leted all the e3ui ed d"'uments and met all the '"nditi"ns+ it &ill be gi(en a 'han'e t" "!e ate* 7" this '"m!an$ t" "!e ate &ithin the la&s ") the United Kingd"m+ the '"m!an$ sh"uld be able t" meet the enti e e3ui ement du ing its "!e ati"n* This '"m!an$ being a ! "'essing '"m!an$ )" d in,s+ &hi'h a e essential )" human '"nsum!ti"n+ the '"m!an$ &ill need t" "!e ate in a 'lean en(i "nment in " de t" ! "du'e d in,s that a e g""d )" human '"nsum!ti"n* The e)" e+ the management ") the '"m!an$ sh"uld be able t" ensu e that the ! "du'ti"n ") the ! "du'ts is in '"m!lian'e &ith the e3ui ed standa ds as needed -Keenan . Ri'hes+ #//0+ !!*#//1* 7ailu e t" d" this+ the g"(e nment ") the United Kingd"m has the auth" it$ t" 'l"se d"&n the '"m!an$* The e)" e+ the '"m!an$ must ma,e su e all the e3ui ements a e met in te ms ") the h$gieni' )a't" s and all sa)et$ measu es a e ta,en 'a e ")* A!a t ) "m the need )" 'leanliness+ the '"m!an$ &ill be e3ui ed t" '"me u! &ith ules and egulati"ns that a e a!! "! iate t" thei &" ,e s as &ell 'ust"me s* 7" the &" ,e s+ the '"m!an$+ th "ugh the management &ill ensu e that &" ,e s> )undamental ights a e ! "te'ted as !e the la&s ") the g"(e nment* The '"m!an$ &ill ma,e su e that &" ,e s a e !aid a''" ding t" the &" , d"ne+ &hile ma,ing su e that the$ d" n"t "(e l"ad them* The '"m!an$ &ill need t" ta,e all the es!"nsibilities in 'ase a &" ,e is in;u ed &hile "n dut$* the (i'tim sh"uld be t eated and gi(en time t" est in " de t" see, )" medi'al attenti"n*

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK ?n the issue ") 'ust"me s+ the '"m!an$ has t" ! "du'e ! "du'ts+ &hi'h a e ") high 3ualit$ and 3uantit$+ &ith ! i'es e)le'ting the 3ualit$ ") the ! "du'ts ! "du'ed -H"me . Bu "&s+ #/1/+ !!*#:01* These ! i'es must )all unde the P i'e <"nt "l A't+ &hi'h e3ui es that the ! i'es ") '"mm"dities t" be '"nt "lled b$ a 'e tain b"d$* An"the a ea+ &hi'h the '"m!an$ ") 2ail$ P "'essing Limited sh"uld ta,e 'a e ") is t" su (i(e in the ma ,et battling the e))e'ts ") Gl"bali%ati"n* The '"m!an$ being a ! "'essing '"m!an$+ &ill '"m!"sed ") the ma'hine $+ &hi'h &ill be used in the ! "'essing ! "'edu es* This ma'hine $ &ill e3ui e s"me )" m ") !"&e t" "!e ate li,e !et "l and diesel+ &hi'h &hen bu nt ! "du'es s"me s""t as thei &aste ! "du'ts* @hen the s""t a e eleased in the ai + the$ a))e't the atm"s!he e e(entuall$ ha ming

"%"ne la$e -Re%aee+ #//0+ !!*10: 1* The e)" e+ the$ sh"uld '"me u! &ith s"me ideas t" "!e ate thei ma'hines &ith natu al and !"lluti"n ) ee es"u 'es+ su'h as the use ") ma'hines "!e ated b$ &ind " s"me '"m!"siti"n ") ai li,e "4$gen* A!a t ) "m dealing &ith ai !"lluti"n th "ugh the elease ") the s""t t" the atm"s!he e+ the '"m!an$ sh"uld als" ta,e in '"nside ati"n the 'hemi'als used du ing thei ! "'essing* The &ill be e3ui ed t" t eat the &aste ! "du'ts be)" e eleasing them t" !la'es li,e &ate !"ints* @hen these 'hemi'als a e eleased t" the &ate !"ints &ith"ut t eated+ the$ a))e't !e"!le &h" a e using su'h &ate )" thei dail$ usage and m" e im!" tantl$ su (i(al -G eat B itain+ #//9+ !!*5/A1* This ma$ 'ause dia hea t" the !e"!le using su'h &ate * It &ill als" a))e't the a3uati' ' atu es+ b$ 'utting the "4$gen !enet ati"n in the &ate * The e)" e+ it is im!" tant )" the '"m!an$ t" 'he', "n these e))e'ts and '"me u! &ith s"me s"luti"ns t" '"nt "l the e))e'ts ") su'h a situati"n* Effects of United Kingdoms Taxation on the Daily Processing Limited

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK Ea'h '"unt $ sets u! ta4ati"n st u'tu es in a &a$ that !"siti(e esults 'an be a'3ui ed t" de(el"! the '"unt $ e'"n"mi'all$* This e'"n"mi' de(el"!ment ") an$ '"unt $ is m"stl$ de!ended "n indust iali%ati"n* The e)" e+ 2ail$ P "'essing limited t" su (i(e in the United Kingd"m+ th "ugh thei egist ati"n numbe B the$ &ill be e3ui ed emit ta4es t" the United Kingd"m g"(e nment* )" that eas"n+ this '"m!an$ &ill need t" !a$ '" !" ati"n ta4+ &hi'h is 'al'ulated ) "m the &" ld&ide ! ")it a)te the$ ha(e been ad;usted )" the ta4 !u !"ses -Re%aee+ #//0+ !!*#//1* 2ue t" high !"!ulati"n in the United Kingd"m and the ) iendl$ ta4ati"n s$stem+ im!"sed "n the business " gani%ati"ns+ an$ '"m!an$ based in the United Kingd"m &ill be able

t" "btain bette sales+ hen'e+ g""d ! ")it ma gin* This is due t" the high demand )" the ! "du'ts b$ the '"nsume s+ &hi'h en'"u ages the '"m!anies t" ! "du'e m" e due t" the g "&ing need ") ! "du'ts* United Kingd"m being "ne ") the &" ld leade s in indust iali%ati"n+ it ! "(ides the business ente ! ises t" ha(e bette "!!" tunities t" !enet ate int" the inte nati"nal ma ,et* This is be'ause United Kingd"m has a stable e'"n"m$+ hen'e+ ha(e a g""d !"siti(e !a ti'i!ati"n in the st"', ma ,et -Keenan . Ri'hes+ #//0+ !!*5661* A!a t ) "m the stable e'"n"m$+ the '"m!an$ &ill d" &ell in the United Kingd"m be'ause the '"unt $ has a stable g"(e nment that ' eates a g""d en(i "nment )" businesses+ as it is !a t ") thei e'"n"mi' g "&th* The e)" e+ '"m!anies t" ha(e a st "ng )"undati"n )" thei business+ the$ a e e3ui ed t" l"", at the business en(i "nment ") the '"unt $ in &hi'h the$ a e intending t" in(est* Implications of the United Kingdom Taxation to Daily Processing Limited Alth"ugh business that a e based in the United Kingd"m en;"$ thei 'han'es ") )l"u ishing in the inte nati"nal ma ,et+ and stabilit$ in thei sales due t" st "ng e'"n"mi' status*

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK still businesses ha(e t" )a'e s"me im!li'ati"ns ") ta4ati"n s$stem in United Kingd"m* These im!li'ati"ns e4ist be'ause ") s"me 'hanges made "n the ta4ati"n la&* 7" instan'e+ 'hanges made "n the 7inan'e A'ts ) "m #//6 and #//9+ &hi'h e3ui e that the e4isting and ne& '"m!anies t" ad"!t the inte nati"nal standa ds and e(e $ '"m!an$ must abide b$ this la&

-Keenan . Ri'hes+ #//0+ !!*5951* This m"(e in' eased the elian'e "n the ta4ati"n ") the United Kingd"m* The e)" e+ '"m!anies that &"uld li,e t" (entu e in the United Kingd"m a e a))e'ted b$ this ,ind ") ta4ati"n* This might n"t ma,e thei business t" be as su''ess)ul as desi ed* !ays of protecting the rights of c"stomers In a business en(i "nment+ the end use s a e the m"st im!" tant in the ! "'ess ") ! "du'ing g""ds and selling* <"nsum!ti"n ") g""ds b$ 'ust"me s+ ma,es them the 'hannel ") the ! ")it eali%ati"n t" an$ gi(en " gani%ati"n* 7" these businesses t" maintain thei 'ust"me s l"$al+ in " de t" )it int" the '"m!etiti(e ma ,et the e is a need )" these '"m!anies t" es!e't the ight ") the 'ust"me s* Ca i"us &a$s a e used in the ! "te'ti"n ") the 'ust"me s> ights -H"me . Bu "&s+ #/1/+ !!*5/61* The '"m!an$ must ma,e su e that 'ust"me s a e t eated &ith 'u tse$ and es!e't* The$ need t" be ! "(ided &ith the e3ui ed in)" mati"n the$ e3ui e immediatel$* The '"m!an$ sh"uld als" ma,e su e that g""ds and se (i'es a e dist ibuted t" thei 'ust"me s at the a!! "! iate times+ &hethe th "ugh " de " deli(e $* 7" the '"m!an$ t" ha(e g""d elati"n &ith thei 'ust"me s+ the$ need t" ha(e 3ualit$ sta)) t" add ess thei 'ust"me s "n an$ issue that a))e't them in elati"n &ith the g""ds and se (i'es ! "du'ed -<ahn+ #/1/+ !!*56:1* This &ill ensu e se (i'es ! "(ided a e a''u ate and eliable in)" mati"n is '"n(e$ed t" the 'ust"me s* B$ d"ing this+ 'ust"me s &ill )eel a !a t ") the '"m!an$ as mu'h attenti"n the '"m!an$ !a$s "n them+ hen'e hel!s in att a'ting m" e 'ust"me s t"&a ds the g""ds and se (i'es ! "du'ed*

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK The '"m!an$ sh"uld als" be able t" gi(e 'ust"me s a 'han'e t" e3uest )" 'la i)i'ati"n "n the issues the$ did n"t unde stand &ell* ?the ! "te'ti"n e3ui ement ") 'ust"me s is b$ ! "du'ing g""ds and se (i'es+ &hi'h d" n"t ha m thei health* The '"m!an$+ the e)" e+ is needs t" ! "du'e g""ds and se (i'es ") high 3ualities* -G eat B itain+ #//9+ !!*5#61* The '"m!an$ sh"uld als" '"me u! &ith "the additi"nal se (i'es t" thei 'ust"me s in " de t" att a't m" e

'ust"me s* S"me ") the se (i'es that the '"m!an$ 'an "))e t" thei 'ust"me s a e li,e ! "(iding a)te sales se (i'es su'h as ) ee h"me deli(e $ )" the g""ds b"ught* The '"m!an$ sh"uld als" "))e gi)ts t" thei 'ust"me s* The$ sh"uld ! "(ide thei 'ust"me s &ith ! "g ams t" tea'h the 'ust"me s ab"ut the bene)its ") using thei ! "du'ts* This 'an be d"ne du ing ! "m"ti"ns ") the '"m!an$>s ! "du'ts* Conclusion: 7" a !e s"n t" (entu e in business ente ! ise means ;"ining hands " &" ,ing b$ himsel) t" a'3ui e a bette e'"n"mi'al status* Simila l$+ the g"(e nment ") a '"unt $ needs t" )" mulate ) iendl$ ules and egulati"ns t" att a't m" e in(est" s in the businesses* The$ sh"uld als" '"me u! &ith n" ms that en'"u age '"m!anies t" "!e ate ) eel$ in &hile )"ll"&ing all the egulati"ns* -Keenan . Ri'hes+ #//0+ !!*56=1* The e)" e+ it is ad(isable )" in(est" s t" in(est in '"unt ies that ha(e a stable e'"n"m$*

ESTABLISHING A LEGITIMATE BUSINESS ENTERPRISE IN THE UK

Re)e en'es: Keenan+ 2* D*+ Ri'hes+ S* -#//01* Business Law. U!!e Saddle Ri(e : Pe s"ns Edu'ati"n* H"me + A*+ Bu "&s+ R* -#/1/1* Tolleys guide. < "$d"n: T"lle$* G eat B itain* -#//91* Companies Act 2006. L"nd"n: The Stati"na $ ?))i'e* <ahn+ A*+ 2"nald+ 2* <* -#/1/1* Comparative Company Law. <amb idge: <amb idge Uni(e sit$ P ess* Re%aee+ E* -#//01* Corporate Governance Post !ar"anes #$ley. H"b",en: D"hn @ile$ . S"ns*

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