Frequently Asked Questions
Why Set Up Business in UK
When the world economy remains uncertain, the UK continues to hold a world- class reputation as a hub for European and US markets. A sound economic policy has delivered stability for small and medium-sized business in the UK, while UK incorporation brings its own prestige internationally. Meanwhile, doing business in the UK makes financial sense. With one of the lowest Corporation Tax rates in Europe, UK start-ups can retain most of their profits. There are also no restrictions on UK companies paying dividends to
Why Choose Premier
Premier UK Business offers a UK-based team, but that’s just the start. Our ample experience means we understand UK requirements intimately, taking the risk, complexity and uncertainty out of UK incorporation. Uniquely, we’re also able to offer comprehensive support for every stage of launching a UK business, including:
- Registering your UK company or Limited Liability Partnership (LLP) within just 24 hours
- Opening your UK business bank account
- Finding a location in the UK, from permanent offices to business addresses and ad-hoc London meeting rooms
- Arranging your insurances
- Providing complete accounting and tax advice, increasing your tax efficiency
- Managing your finance and HR function on your behalf, leaving you to focus on other areas of your business
What is the VAT registration threshold?
You’ll need to register for VAT when you exceed, or expect to exceed, the current VAT threshold. This is based on your VAT Taxable Turnover. Currently, the registration threshold is: £85,000. You can also register voluntarily – we can help you decide if this would be beneficial for your business.
How long does VAT registration take?
VAT registration can take anywhere from three to seven weeks – or more – depending on how busy HMRC is and any additional information they require. If you have a UK-based Director, the process tends to be faster. While you can continue to trade during this period, our team can help you present the relevant information quickly and efficiently.
Can you help open a UK bank account?
Yes – we already have relationships with most of the UK high street banks. Usually, company Directors and shareholders with a share of 20% or higher will be subject to a Know Your Customer (KYC) procedure, verifying your identity and assessing risk. We can help you navigate this process.
Do I need to travel to UK to open a bank account?
You will usually need to visit the UK, bringing documents that prove your identity to your bank. However, we can help explore your options if this isn’t possible – don’t hesitate to contact us for help.
Can you provide business address or virtual office services?
Absolutely. Our business address and virtual office services give you the advantage of a UK-based presence and point of contact, ideal for when you’re still in the process of arranging your own space. We can also help you find that space, or temporary desk space that you can use.
Can you provide UK telephone answering?
We can provide a dedicated UK phone number for your business, as well as call handling in your company name. This is a powerful way to build confidence with customers, partners and suppliers.
Can you help with employment contracts and offer letters?
Our in-house HR team can write employment contracts and offer letters that are compliant with UK employment laws, as well as being tailored to your company. We can also carry out checks on your potential employees before a contract commences or an offer is made, allowing you to make a decision with confidence.