Why Set Up a Company in the United Kingdom
3E Accounting provides a convincing rationale to the question of why set up a company in the UK.
Why set up a company in the UK can be answered easily enough. The United Kingdom stands proud at number eight in the World Bank’s Ease of Doing Business ranking. It also has the sixth-largest economy in the world with an employment rate of 75%. These statistics alone are enticing enough for any entrepreneur to set up shop in the UK. Top that with a strategic geographical position, good governance, and vibrant culture, and you have a winning formula for success.
Moving Across the Pond
Whether you are a regional enterprise or multinational company, doing business in the United Kingdom has many plus points. Not least amongst this is the fact that the UK is a gateway into Europe and its half a billion consumers.
Many factors drive the potential to start a business and have a good shot at success. UK companies that are just starting have lesser set up restrictions and compliance is pretty straightforward. In fact, it is relatively easy to get your company registered, incorporated, and tax compliant in record time. Companies House and HMRC are the respective company registration and tax authorities that you will need to deal with.
A reliable company formation firm such as 3E Accounting can get your business up and running within a day. This includes taxation, which is streamlined to ensure quick and easy compliance. The UK has a 20% corporate tax and a 20% value-added tax (VAT) rate. It also has DTA or double taxation agreements via treaties with numerous other countries. A positive impact of Brexit is that the UK can now enter into individual agreements with other countries. This means better trade agreements and an increase in competition that will benefit all parties concerned.
The UK also has a robust infrastructure that is evolving at a rapid pace with a key focus on sustainability and growth. The Government’s National Infrastructure Plan (NIP) is structured to close the infrastructure gap to meet future demands as well as present needs. Some areas that have benefitted from substantial investment include telecommunications and transportation. Coupled with a diverse pool of human resource and globally competitive labour costs, your business has everything it needs to succeed. In fact, the UK has the fourth largest global workforce and is ranked within the top ten in the workforce market. Companies that set up business in the UK have access to skilled labour as well as supportive employment regulations.
Still, thinking about the question of why set up a company in the UK? If you need more answers, do get in touch with one of our experts here at 3E Accounting. Along with our global partners and affiliates, we consult, advise, and provide all the support your business needs. We offer international experience, regional expertise and the latest in specialised software and systems solutions. All our innovative and customisable business solutions are made with you in mind. Contact 3E Accounting today to make the United Kingdom the focus of your business expansion plans.