Why Set Up Your Business in the United Kingdom?
United Kingdom (UK) has four countries: Wales, Scotland, England and Northern Ireland. It is often confused with Great Britain. Let’s just set some facts clear. The UK consists of four countries. Great Britain is only England, Wales and Scotland. Most of the time, London is referred to as the epicentre of it all. Anyhow, all of these countries are great places to set up business in the United Kingdom and read on to know why.
Tax Structure – Set Up Business in the United Kingdom
Ask any person that is operating and managing a business, and they will tell you that tax is always burdensome. In the UK, the companies are required to pay a corporate tax that is set at 20%. As a start, a business owner would have to register for Corporation Tax. It is advisable to keep accounting records to calculate your business tax. To ensure you get this right, appoint a tax adviser when doing business in the UK. The UK also has signed several double taxation agreements with other countries. What it does is that UK companies do not pay for Corporation Tax on foreign dividends.
Business Friendly
It takes less than 15 days to set up a business in the United Kingdom. That’s how fast efficient they are and as enthusiastic as you are to start your business in the UK. If you need help, there are plenty of assistance available in the UK. From financial support to taxation to even business planning. The UK understands that commencing a business may be difficult, especially for first-timers or foreigners. Hence, friendly faces at the business help centres will be all ears and hands to help you out. Each may cost differently. Make sure you check what costs are involved in understanding better what kind of help that you need.
Prosperous Economy
It takes less than 15 days to set up a business in the United Kingdom. That’s how fast efficient they are and as enthusiastic as you are to start your business in the UK. If you need help, there are plenty of assistance available in the UK. From financial support to taxation to even business planning. The UK understands that commencing a business may be difficult, especially for first-timers or foreigners. Hence, friendly faces at the business help centres will be all ears and hands to help you out. Each may cost differently. Make sure you check what costs are involved in understanding better what kind of help that you need.
Skilled Labour
The UK has established its education system way back earlier and has continuously improved to meet the market demands. The UK’s skilled labour and highly educated workforce make hiring locals to work, blissful conduct. Another plus point is that the official language is English. Unless your employee comes from Wales, he or she may speak Welsh, once in a while. Nevertheless, English is still the primary language spoken in the whole of the United Kingdom.
Conclusion
Setting up a business in the United Kingdom seems manageable. It even assists you in detailing out your business plans to ensure your business is viable with the economic climate of the UK. With its genuinely globalised economy and open market, there is always some piece of the pie for everyone.
