How do I set-up an overseas business in the UK?
Here are some of the key issues to consider to increase the likelihood of a successful business expansion to the UK.
When do I need to register for VAT?
Under law, you must register for VAT if your VAT taxable turnover goes over the registration threshold. This is currently set at £85,000. VAT taxable turnover is the total of everything sold that is not VAT exempt (a list of VAT exempt sales can be found on the HMRC website). If you’ve exceeded the threshold, or know that you will in the next 30 days, it is compulsory for you to register with HMRC or you may face a fine. You can also register for VAT voluntarily, which businesses often consider for commercial purposes.
In most cases you can register online, either directly using your Government Gateway login, or via an agent such as Ecovis. HMRC aim to get you a VAT registration certificate within 30 working days, although it can sometimes take longer than this. To register, you’ll need to provide information about your:
- Business activity
- Turnover and
- Bank account details
The process is usually fairly straight forward.
Read more on how our Business Tax and VAT services can support your business. Alternatively, please speak to a member of our VAT team. Our advisors will be happy to talk you through the process of registering for VAT and answer any questions you may have.
Ruth Potter
Further Reading
You may also find the information in these articles useful for the stage of your business
Are there any critical timing issues to consider when setting up a business in the UK?
If you’re making plans for your business to enter the UK market, there are critical timing issues for you to consider from the start.
Are there any financial audit obligations for a new UK entity?
After choosing your legal entity and agreeing your corporate structure, it’s time to get to create a tax, audit and compliance environment.
Are there any import implications of Brexit that I need to consider?
For businesses importing goods and services to the UK market, here is a summary of the Brexit implications to consider.
How do I start a business in the UK?
Setting up a business is an exciting time for anyone but, for a lot of people, it’s also a bit scary knowing where to start and can be fraught with questions.
What are the admin procedures for running a UK business payroll?
For businesses entering the UK market, here is a summary of the admin procedures to run a UK payroll.
What tax registrations do I need to consider when starting up a UK business?
If you’re making plans for your business to enter the UK market, there are three main tax registrations for you to consider.
Need more advice?
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