Go Global - expanding to the United Kingdom

Expand your business to the UK effortlessly with a global partner


The UK is an attractive place to do business with its central location between the US and Asia. The market of the thriving economic center is large, and the corporate tax system is favorable. However, every company expanding business in the UK has to consider many rules and processes that may seem challenging at first. No one has everything covered up by themselves - our experts will be happy to help you plan the big steps!

Greenstep is part of the international MSI Global Alliance network. MSI Global is a network of more than 260 independent accounting and legal firms from more than 100 countries with over 30 years of successful experience. With the MSI Network, we will ensure that you have the best local financial partner with you, both at home and in the UK. If you wish, we can also coordinate cooperation between the countries by a "shared service center" in Finland, so the administration is always as easy as possible for you.

When you go global with a partner, you avoid unnecessary trial and error as well as common mistakes, such as too rapid growth without sufficient processes or not being aware of all the necessary laws, regulations, or policies. We already have experience with customers in the United Kingdom, and we are constantly looking to expand our expertise and develop our services. All global solutions are tailor-made - please book an appointment with us to discuss more the possibilities for your company.

    Our services in the UK

    Greenstep

    Bookkeeping, Accounts Payable, Accounts Receivable, General ledger, Travel claims, Credit card expenses, and Group Consolidation and Reporting using NetSuite as a business platform

    Local partner

    Payroll, Statutory reporting, VAT, tax returns

    Doing business in the UK

    • Business structures
      Sole trader, establishing a branch, a limited company, a public limited company (PLC), limited liability partnership (LLP), acquiring an existing UK company.
    • How to set up a business
      The process to set up a limited company is straightforward and can be established online with £1 of share capital. The company's shareholders or directors are not required to be UK residents.
    • Accounting and auditing
      Consolidated accounts may be necessary if two out of three thresholds (Gross revenue exceeds £10.2 million, gross assets exceed £5.1 million and there are more than 50 employees total) are exceeded.
    • Taxation
      UK’s corporate tax rate is 19 %, which compares favorably against most other EU countries. All businesses which employ staff need to be registered for Pay As You Earn (PAYE) tax. PAYE system is used to collect Income Tax (20 % - 45 %) and National Insurance Contributions (usually 12 % from the employee and 13.8 % from the employer) from employees and employers.
    • VAT
      VAT is a tax levied on the sale of most goods and services and the rates are currently 20 %, 5 %, 0 %. VAT registration is mandatory if your taxable turnover is £85,000 in any 12-month period.
    • Travel allowance
      In 2021, the mileage allowance is £0.45 per mile driven and daily allowance is either £25, £10 or £5.
    • Payroll
      All UK payrolls must operate under Real Time Information (RTI). This means that all employees’ pay and deductions must be reported to HMRC (UK tax authority) on or before each payday.
    Haysmacintyre

    Our MSI Global partner

    Our MSI Global Partner in the UK is haysmacintyre. It is an award-winning firm of chartered accountants and tax advisors, with 38 partners and over 300 staff, providing advice to entrepreneurs, fast-growing and owner-managed businesses, charities, and not-for-profit organizations across the UK and internationally.

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