Despite its changing relationship with the EU, the UK remains an attractive place for foreign direct investment and provides a good springboard into the European market. If your business is taking its first steps with FDI in the UK, setting up correctly is vital.
But how do you go about setting up in the UK for the first time?
Here’s our five-step path to doing business in the UK.
|①||Planning and forecasting your expansion|
Incorporating in the UK requires careful planning. What’s your five-year plan? How will you fund the investment? How will you structure your UK entity? We can help you with your UK market goals, advise on the best options and structures, quantify the likely costs and compliance requirements of setting up in the UK and help you choose the best approach.
|②||Incorporating your business and registering for tax|
Your overseas staff are unlikely to have in-depth knowledge of your UK tax, legal and employment requirements. Our specialists can handle your UK set-up, including: incorporating with Companies House, registering with the tax authority HMRC, and setting up a UK corporate bank account.
|③||Becoming a UK employer for the first time|
Employing staff in the UK adds to the compliance load, with registering for PAYE and taking out employers’ liability insurance top of the list. Then there are the visa and immigration considerations of relocating staff to the UK. Our global expatriate service provides an employment one-stop-shop.
|④||Complying with tax and reporting obligations|
The UK has one of the most competitive tax regimes in the G20 for inbound investment. But meeting your statutory tax filing obligations requires specialist knowledge of the UK tax code. Our subject matter specialists will give you the confidence to handle these compliance issues effectively.
|⑤||Reviewing and improving your operations|
Regularly reviewing your UK operations against what you set out to achieve is the key to longer term success. Our UK FDI relationship managers are connected to specialists across the RSM international network, to keep your global business operations on track wherever you are. From operational efficiency and tax support to mergers, acquisitions and fundraising, we'll be your sounding board.