Thanks to its economy, the United Kingdom is advantageous for doing business and setting up a company. One of the benefits of setting up a company in the UK is that its geographical location facilitates doing business and makes forming a company more favorable, catching the attention of investors.
Moreover, criteria such as having many platforms like PayPal, Stripe, and other global marketplaces, VAT exemptions, the low rates of income tax, the easiness of establishing and closing a company, and the opportunity of company formation remotely make the UK the most optimal country in this regard.
In this blog post, we have explored the benefits of setting up a business in the UK and the things you should know before forming a company in the UK.
Receiving payments from abroad is quite challenging for Turkish companies. Getting paid by overseas customers has become much more difficult for Turkish companies, particularly after the shutting down of PayPal in our country. However, it will become a lot easier to have a PayPal through the details and address information of your company you will establish in the UK.
You can integrate your UK company with many payment methods such as Stripe, Alipay, Apple Pay, and SOFORT.
When you set up your business in the UK, you can benefit from the advantages of customs and tax of the European e-commerce market led by the UK. Moreover, you can perform e-exporting with 19% annual income tax and without being subject to VAT if your turnover is not more than 85,000 GBP.
After establishing your business in the UK, you can set up a business bank account in the UK through TransferWise, Revolut, HSBC, or İş Bankası by providing your company details.
When you start your business in the UK, your accountancy and taxation procedures are initiated. Just like any other country, tax-related issues are of great importance in the UK as well. You are obliged to follow your accounting-related proceedings and perform your VAT transactions and declaration processes. At this stage, it will simplify your work to get a service from accountancy providers that will constantly be in touch with you, declare the tax returns of your established company during the accounting periods, and follow all of your accounting-related proceedings.
Having an accountancy provider with Turkish service is highly important for you to fully follow the proceedings and understand the process. If you wish, you can conduct all of these proceedings through the professional accountancy companies that are locals of the UK, provide services for many years, and are registered on Mükellef. Having the Turkish service feature, accountancy companies registered on Mükellef support you in every way and perform all of your tax-related and accounting-related proceedings. Thus, all of your accounting-related proceedings are carried out while you focus on your business.
By establishing your business in the UK, you can take your e-exporting journey to a cross-border e-commerce level with the e-commerce systems that offer the management of the warehouse, logistics, orders, and customers in Europe, provide economic gain, and save time. Thus, you can grow your business by making savings on your logistics costs.
With the advantages offered by Mükellef, you can close sales in global and large-scale marketplaces such as Zalando, Real, or Afound by setting up a business in London, the financial hub, and in the UK, one of the most prestigious e-commerce countries.
With Mükellef, Start Your Business in the UK
With Mükellef, you can start your UK business by making an application from wherever you are. Moreover, you can stay in touch with your customers and service providers via your local address in the UK by benefiting from our yearly business address service.
You can fill in the application form by clicking this link to set up your business in the UK with its advantages and carry out all your accounting-related processes via Mükellef.