Doing business established in UK

Doing business established in UK

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Establishing a business in the UK has a number of advantages, but as we will see, they are going to be offset by a series of handicaps. As a starting point, we say that it is a market with ease of access, but due to it’s a mature market, is very crowded, and we must offer a product that stands out from the rest at a competitive price.

Creating a company only takes 13 days (the European average is 32), and must submit the appropriate forms in addition to the Deed of Incorporation and the Articles of Association, together with the payment of the fee of20 poundsfor the record, 50 if you intend to register the same day. No notary document is necessary. The minimum share capital for a limited liability company is one pound and corporation tax is 21%, or 20% for SMEs with turnover below £300,000. VAT has the same level that corporation tax, and there is no need to be registered if there are billed annually less than 56,000 pounds.

How to get money from the society? Possible ways to achieve this goal are: the dividend, established one yourself a salary, charging certain expenses to the company (mileage, several shopping if they are business related or invoices from a second company.

The obstacles in the constitution of a company are mainly to open a checking account, since banks are often quite restrictive if the owner is a nonresident. Another obstacle to overcome is the need to have an office (at least virtual) in theUK (and not a post office serves).

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