Non UK Residents.

The United Kingdom encourages and promotes entrepreneurship. According to the Best Countries for Entrepreneurs report done by the US News & World Report, the UK is the fourth-best country in the world for entrepreneurs.

Starting a business in the United Kingdom can be difficult, especially if you are not a European Union citizen. In this article, we’ll cover all you need to know about starting a business in the United Kingdom, including the various forms of company structures, tax, administration, and more

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Basic Package

UK Company Formation

Registered Address – Renewed Yearly
Scanning/Emailing Post – Renewed Yearly
Companies House Formation
HMRC Tax Registration
Bank Account Opening

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Pay monthly options are also available.

Standard Package

UK Company Formation + 1 Year Accounting

Corporation Tax
Confirmation Statement
Monthly Transaction (QuickBooks)
End of Year Accounts
Self-Assessment Registration
Self-Assessment Yearly Filing

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Pay monthly options are also available.

Choosing a Business Name

Coming up with a name for your business is an important step as it shows the personality of your brand and helps you stand out. Your name should be unique and appeal to your target audience – and it’s your chance to be creative.

It's also worth understanding:
how to define your brand so you can stand out from your competitors.
what you need to do to protect your intellectual property, including any patents and trademarks

You can see if the name you would like to register is available, by searching companies house In terms of forward planning, it is also worth searching to see if the corresponding domain name is available for the name which you would like to use. The last thing you want is to choose a name and then realise the website domain name is not available!

Accounting Records

After you’ve worked out what you need to do for tax, it’s important to stay organised so you can meet your tax obligations at various points throughout the tax year.

If you don’t have a record-keeping system, you’ll spend a lot of time sorting paperwork when you have to do your Self Assessment – valuable time that could be spent running your business, or on relaxing and recharging.

Firstly, it’s a good idea to keep your business and personal finances separate. That’s because allowances like tax-deductible expenses can only be for business purposes – it’s much harder to separate money coming in and out when you’re using one account.

What’s more, there’s lots of software available that can make record-keeping much easier. Software can do tasks like create and send invoices automatically, and monitor your income and outgoings.

Finally, you’re required to keep business records for a number of years. If HMRC asks for them, accurate and organised records can help keep you out of trouble in the event of a tax investigation

Bank Account

There is no legal obligation for a limited company to have its own bank account, but it is better to have one.

Business finances must be accurate and transparent, so a separate account will make it easier to keep track of your income, expenditure, and available profits. This will be of great help when you are preparing annual accounts and tax returns each year.

Employing Staff in the UK

If you’re launching a business in the UK that will employ people, you’ll need to register as an employer with HMRC and get employers liability insurance. You can hire foreign workers in your UK company if they have legal permission to work in the country. When hiring employees, you must follow minimum wage laws and pay social security and pension contributions per the law

A Visa is not needed to trade in the UK, or to register a company. However, if you wish to reside in or visit the UK on business, a Visa may be required. The exact requirements vary depending on your nationality and place of residence. Please get in touch to arrange a call one of our immigration specialists.

Can't find what you need?

If you are interested in any of the services above please do not hesitate to contact us. Alternatively, if there is a service not listed that you require, RDS Consultants may still be able to help. We look forward to working with you and improving your business.

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Saturday - Sunday: Closed

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