For inbound UK startups, we generally provide them with a setup package at a fixed cost, which includes the following:
- Formation/registration of UK entity
- Registration for Corporation Tax
- Registration for Payroll scheme
- Registration for VAT; if appropriate
- Use of a client trust bank account – often referred to as a “RE” account
- Open a UK bank account – we complete all the forms on your behalf
- Support and advice during setup and post-setup
- Produce Letter of Agreement
- Complete full anti-money laundering (AML) and know your client (KYC) checks. A requirement for all new clients and with your permission – passed to your UK banking partner.
In our experience, these are typical functions an overseas company needs to set up and succeed in the UK. Some will not be required on day one, however most can only be arranged after the entity has been setup or registered with Companies House.
For further information on setting up in the UK, please get in touch and request a suitable time for further discussion.