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Wish to set uop a company for electronics products

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treez

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Hi,
A Chinese friend ( he was a coursemate on my electronics degree course) has approached me.... He wants to import vast amounts of electric toy cars into UK for sale.
However, being Chinese he cannot do this.
He says he needs me (i am a British National) to set up a "company" in the UK, and then he can import the toy cars into the UK via this 'company'. I will simply act as middle man, and will cream off a huge profit, he tells me £200,000 per year.
How do i go about setting up a company?, and how do i avoid the customs officials?, because i hear that British Ports are not regulated by EU customs officials, so therefore we will not need to pay the EU import tariff.
Has anybody already done this?...and can offer advice on how to go about it?
Apparently it will help if we can build up our own product range of British goods, even if these sell at a loss....this shouldn't be difficult for me, because as an electronics engineer i have designed a vast array of useless items which wouldnt sell at a profit...my last invention was a "self constipation reliever", which was simply a jug of warm water with a solenoid valve into a tube which one opens via an electric switch when one has the tube inserted into your ****** (i wont mention it here)...this is done while one is lying down prone, and then the warm water flows down into one's ***** and softens up the stool......relieveing the constipation

So we can make loads of stuff like this to make it look like we are a real British company....apparently, one can even receive EU grants to do this kind of stuff.......does anybody know how we can apply for these?
 

betwixt

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I would forget EU grants, in view of Brexit you would be extremely unlikely to get one now.

Setting up a company is easy but be sure what type of company you want, for example is it a limited company or partnership or would you be a sole trader. Then go to https://www.gov.uk/limited-company-formation/register-your-company and pay a small fee by Paypal or credit card. You also need to tell your tax office and if necessary arrange to pay NI unless you are still employed elsewhere. If you trade from home, even if only a registered address you should tell your local Council and your home insurer. It probably won't make any difference to what you pay now unless you are actually storing items or selling directly from home.

You could also try contacting the Chinese embassy for trade advice, they will be able to help with import forms and tell you what duties might be payable.

Brian.
 

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