Why do business in the UK after Brexit?

Ease of doing business in the UK

One of the biggest advantages of doing business in the UK is the ease of doing business here. According to the World Bank, the UK is one of the best-rated countries in the world for business-friendly environments. There are many business opportunities in different fields, e.g. from advanced manufacturing to IT. In addition, the obstacles on starting a new business are low compared to other developed countries in both the East and the West.

If you decide to work with a company like IB Service, you will be able to adapt to the new environment even easier and we will help you make sure that your company meets all the requirements related to the legal framework.

A manageable and flexible tax system

One of the most difficult factors in business development is getting caught up in the complications of the tax system. In the UK it is relatively simple compared to other overseas markets. The corporate tax rate is currently set at 19%.

The UK has double taxation agreements with other countries. Foreign shareholders will not pay income tax in the UK. There is also Value Added Tax (VAT) charged on most goods and services supplied in the UK (currently set at 20%). This can be an additional benefit for companies operating in the region.

Recruitment of skilled workers in the UK

Another major reason for moving operations to the UK is the large number of skilled workers. In fact, the UK employs more than 30 million people, making it the second largest labor market in the European Union. The UK is also the only country in Europe where labor supply is expected to increase over the next 15 years.

As well as having a large number of skilled workers, the UK also has a flexible market with provisions to protect workers. The employer should see this as a benefit. You can follow pre-set rules and regulations that will improve the lives of your team members.

Also, given lower employer social security contributions, UK labor costs are among the most competitive in Western Europe. In fact, the UK has lower overall labor costs than countries such as France, Ireland, the Netherlands and Germany.

We offer to work directly with us so that your organization can properly employ and pay taxes for your new team members.

Strong business infrastructure in the UK

A strong infrastructure is important for the overall growth of your business in any country. In the UK, it is constantly being developed in areas such as energy, transport, waste management and telecommunications.

The region’s focus on sustainable change and positive improvements provides a solid foundation for successful business operations.

Simplified and manageable regulations

The UK is now free to make its own tax, financial and legal regulations to suit its own needs. Agreements with each country may be different, so an agreement with Sweden may differ from an agreement with Germany. This could increase competition, which in turn will provide a great opportunity for growth.

Increased flexibility

With the UK leaving the EU, it will be able to react more quickly to global events and market changes. This could be a huge benefit for businesses operating in the UK and is a great reason to consider moving to the region, despite all the Brexit concerns.

Starting a business in the UK is relatively easy whether it’s online trading, construction or something else (whether you live in another country or the UK). You will need to apply to CompaniesHouse to register your company. Next, you will need to register as a corporate tax payer in Corporation Tax, register as an employer in Employers Registration and, if necessary, register as a VAT payer in VAT registration (if the turnover exceeds £85,000.00 per year). Also, you must take care of all licenses and permits required for your type of business.

Contact IB Service and we will be happy to help you with any questions you may have.

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