Overview:
- Highly competitive British markets for goods and services create unique opportunities for the development of your business.
- There are significant tax benefits throughout the country, which allows you to reduce the operating costs of the business.
- The level of tax on company income received in the UK is one of the lowest among European states.
- UK laws are simple and transparent and there is almost no corruption in the country.
- Minimal government intervention and ease of doing business. In some cases, you can get government support for your business in the UK.
- The procedure of opening a company in the United Kingdom with Clevver's support is quick, fully remote, and logically consistent. All documentation on incorporation is available in digital format.
Great Britain is one of the recognized business and cultural centers of the modern world. Therefore, it is prestigious to open a business in England. Such a company, as a rule, requires the respect of partners and is trusted by investors.
The United Kingdom consists of four jurisdictions: England, Wales, Scotland, and Northern Ireland. Each company that is located in one of these countries has its own advantages.
In the UK, the most commonly used organizational and legal forms of companies are as follows:
- Private Limited Company based on shares — LTD.
- Limited Liability Partnership — LLP.
It is possible to form any of these business entity types with Clevver help. Сlevver specialists will assist with the incorporation of your company in the UK. We are ready to provide additional services for the successful functioning and development of your business in Western Europe on request. Learn more here.
Taxation in the United Kingdom
Taxation of companies in the UK is based on the principle of territoriality: resident organizations are taxed on all profits and registered non-resident firms in the UK — only on income earned in Britain. The main taxes businesses pay in Great Britain are:
- Corporate income tax is 19%.
- The amount of tax on dividends can be basic (7.5%), high (32.5%), and additional (38.1%).
- VAT — 20% (for certain goods/services a reduced rate of 5% or zero rates applies).
If a company does business in the UK or with organizations from the EU member states, it may be required to register as a VAT payer. Obtaining a VAT number is compulsory if the company's annual turnover is more than £85,000. In other cases, registration as a VAT payer may be voluntary, with the provision of contact details of business partners, contracts, and invoices as evidence of the intention to achieve the required level of annual turnover in the near future.
When opening a company in the UK and acquiring a VAT number, a quarterly report on your business must be filed. If a zero report is filed for several reporting periods, the company may be removed from the VAT register and you will have to re-register. Clevver's specialists can help with the VAT registration of your business in the UK at your request.
Britain has signed agreements with more than 130 countries to avoid double taxation for businesses.
Registration of a British Business Entity
The advanced economy, ever-growing market, and one of the world's most developed banking systems attract many investors wishing to open a company in the UK to do business and use the mechanisms of avoidance of double taxation.
Clevver specialists will readily help with your British company formation once you’ve applied to us and all is clear on both sides.
WHAT WE OFFER:
- The assistance of the highly qualified experts;
- The online process of cooperation with Clevver;
- A complete package of documentation on the company registration in a digital format;
- Opportunity to obtain numerous extra to business incorporation services in Great Britain (registered address, mail-handling service, and a local phone number);
- Constant customer support and individual approach to each client;
- Pricing for the company incorporation service starts from €129.
Final Thoughts
Registering a company in the United Kingdom will allow you to develop your business in one of the richest countries in the world. Despite the ending up the membership in the European Union, one of the important advantages of setting up a business in this jurisdiction is the preservation and maintenance by the UK of broad global ties in all sectors of economic and banking activities with the countries - former colonies of the British Empire, the Commonwealth States, and the Dominions, formally maintaining dependence on Great Britain.
Due to Brexit, the British economy does not depend anymore on EU decisions, which opens up new opportunities for your business. To start a business in the UK just contact us, we will take care of all the organizational aspects of incorporation in this country, you will not have to worry about anything. You can apply right now.
DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.
