Grants are often available to inward investors and can clearly help offset the costs of setting up an operation within the UK. As expert advisers, we can help you navigate this process by providing timely, proactive support throughout the process.
In the UK grants are delivered and administered by a wide range of organisations and the availability of funding varies between regions. It is important to understand the levels of support available to you across a range of scenarios to allow you to make an informed decision on where to locate your UK base. Our team have worked with over 400 organisations to secure over £375 million of grant support and so are well placed to provide advice and assistance on this matter.
The Department for International Trade (DIT) also has a raft of support available from government advice to interactive planning and market research tools to help you plan your import strategy.
You can find more information; https://www.great.gov.uk/services/
What are the key actions required for setting up a business in the UK?
Once you have established an appetite and an opportunity to bring your business to the UK, you will need to progress to a detailed plan of action.
Here are some of the factors you will need to consider.
- Creating an appropriate, tax-efficient business structure is vital and you must secure a VAT registration before any trading begins.
- In the digital age, systems will form an important part of the process. These could include accounting, pension, treasury, payroll, payment, invoice factoring and compliance systems.
- Establish structures that ensure efficient cash flow and smooth repatriation of funds to keep your business liquid.
- Carry out financial due diligence before proceeding with any planned acquisitions.
- Implement tax planning to maximise reliefs and comply with international financial reporting requirements.
- Ensuring your operations are fully compliant with UK law is a priority.
- If you plan to relocate any staff, you may need to determine their tax status and check for any residency issues.
Reviewing the above issues will constitute an audit of the available opportunity. Being aware of the cultural and social differences within the UK market is an important consideration as what works within one market, may not work in another.
Our experts can help you assess the plan and decide how best to progress. They can help you avoid the pitfalls and expedite your journey.
We look forward to starting a conversation with you on how you could grow your business in the UK.
