Setting up and running a business in the UK

Short-term projects in the UK

If you are not planning to establish your business fully in the UK but intend to carry out a short-term project there, we can help you to understand the tax implications of having a temporary presence or generating profits. Even projects lasting just a couple of months may have filing requirements and potential tax exposure, so it’s important to plan carefully to achieve the best result while remaining fully compliant.

Selling products or services in the UK - VAT

If you’re selling products or services in the UK (even if you’re carrying out the sales activity from a base outside the UK) you will need to know about Value Added Tax (VAT). VAT is the UK’s sales tax and is levied at the point of the transaction by the business that is making the sales. If this applies to your business, you should know whether you’re required to register with Her Majesty's Revenue and Customs (HMRC) for VAT. If so, you may need to file VAT returns regularly throughout the year to report sales and account for all of the VAT due.

For a business with operations within the UK, there may be scope for relief, including claiming back VAT paid on purchases made by the business. This is a valuable opportunity that can easily be missed without the appropriate advice. Equally, getting your VAT reporting wrong can have consequences when penalties are imposed. We can help you to keep on top of any reporting requirements and ensure that you don’t pay a penny more than you are required to.

Do you need worldwide tax services?

Access a whole world of know-how across 90 countries through our membership of PrimeGlobal. It’s an association made up of independent accounting firms we trust to offer the same depth of expertise you get from us in Hong Kong and London.

How we can help

Our services can be adapted to suit you, whether you’re a fast-growth entrepreneurial businesses, intergenerational family businesses, professional practice or an international group of companies. If you’re in the financial sector and need to consider what regulatory requirements may apply to you, we have a specialist team who can guide you through the rules and help with registration. We also have a not for profit team to provide tax compliance and advice to charities and other not for profit organisations.

For professional advice tailored to your unique circumstances, please fill out the form below and one of our experts will be in touch to discuss your requirements and how we can help. Please note that our advisory services are charged at our hourly rates and a formal engagement will need to be in place before any advice is provided.