The UK is open for business. If you are seeking to enter the UK market our multidisciplinary Foreign Direct Investment (FDI) team will be on hands on to coordinate your accounting, compliance and advisory requirements. We can assist in planning your venture as follows:
- Structure - We will help with entity type selection and formation, structuring within your existing group and decisions on how to fund the new operation
- Taxation matters - This may cover international tax planning, considering innovation incentives, repatriation of funds, transfer pricing matters and capital allowances
- Employer services - Domestic payroll, global mobility services which include managing expatriates, taxation of employees and employment law advice
- Indirect tax and customs duty planning
- Transaction advisory services -Transaction support and advice in acquiring an existing UK business.
Our FDI team can also assist with all of your ongoing financial and HR advisory requirements. This covers the following services:
- Transaction processing and bookkeeping
- Processing payments on your behalf
- Management reporting
- VAT reporting
- HR advisory
- Employment tax advisory and compliance (including stock options)
- Company secretarial
- Audit, financial statements and tax compliance
RSM is well placed to provide you with the advice and support to help you meet the challenges you will face as your business expands into the UK and internationally. We have spent years listening to our international clients and refining our service offering accordingly.
RSM can help to ensure your new investment is planned in holistically so that risks are identified and minimised, and the new venture facilitates your commercial objectives. With our specific experience in advising FDI businesses, our team can help you identify potential risks at the planning stage and advise how best to structure your investment within your existing group.
As you look to expand internationally you will also have to ensure you understand the requirements of setting up, which often differ to those in your home country. A few examples of UK requirements are:
- Employee benefits - It is mandatory to offer domestic UK employees a retirement scheme; private medical insurance is not mandatory but is often expected by senior employees; performance-based incentives, such as stock options, take some planning to ensure they are tax-efficient for both employee and employer
- Insurances - The only mandatory insurance as an employer is Employer’s Liability Insurance; however, you may also wish to take out Directors’ Insurance, Travel Insurance, Office and General Insurance
- Banking - A UK entity with foreign shareholders will often find it problematic getting a UK bank account – this is due to the UK’s Anti-Money Laundering compliance requirements – you should allow three months to get an account set up, and it is important that you get introduced to the International Inbound banking teams
- Immigration - Businesses often choose to send their employees into a new jurisdiction to test the market and set up operations – obtaining visas and setting up expatriate packages is a time consuming and often costly exercise
- Employment rights - The UK requires a locally compliant employment contract written in accordance with local employment law