Why Start a Business in the UK
If you are looking to expand internationally then it is definitely worth considering the UK for a number of reasons:
As with any new business, it is worth spending the time to ensure that things are planned. As such, there are many areas to consider.
- Population of 60 million
- High GDP per head
- High consumer spend and credit card spend per head(for ecommerce companies)
- Company law defined
- Low tax rates
Planning
As with any new business, it is worth spending the time to ensure that things are planned. As such, there are many areas to consider.
- Deciding on Business Structure - there are a number of factors that can affect how you structure your new UK business, such as tax issues, risk management or regulatory issues. Therefore understanding your options and getting the structure right for you from day one is key.
- Dealing with Accountancy & Compliance Issues - Whilst many accounting and compliance procedures in the UK are similar to those in the US, a business needs to ensure that these affairs are organised and can be integrated with your current system.
- Tax Issues & Planning understanding the tax position in the UK is important if you are going to minimise the amount of tax you will pay and take advantage of all planning opportunities.
- Business Planning & Advice - putting a plan in place for the future development of the business and understanding your direction so that you can monitor your performance over time and target the key areas for development.
- Employment, Regulatory & Legal issues - No business can be successful without understanding its responsibilities as an employer; its obligations in relation to insurance and data protection, and generally to all stakeholders.
How can Wisteria Help
Wisteria work with a large number of businesses looking to start up in the UK, especially those based in the USA. We understand the specific needs and advice that these businesses require and adapt our services to meet these needs.
For further information please contact:
Andrew Millet BA FCA MBA
Practice Principal
email: amillet@wisteria.co.uk
Nick Tagg BSc ATT CTA
Head of Taxation Service
email: ntagg@wisteria.co.uk
