How to Start Your Business in the UK (for Non-British People) ?

Рет қаралды 1,427

Күн бұрын

#ukimmigration #uk #ukimmigrationnews
00:00 Introduction
00:30 Agenda 1: Choose a Business Type
• There are several types of businesses that you can create in the UK
• These are sole trader, partnership, Limited Liability Company and Limited Liability Partnership
• Which one you will choose as a non-UK citizen depends on what you want and need as an entrepreneur, including how you wish to pay tax, what personal liability you wish to hold and your visa status
• This video will focus on the steps needed for limited companies
00:57 Agenda 2 : Do you Need a Visa?
• You do not need a UK visa to set up a company in the UK - you can be based abroad and set up a UK company
• However, if you do want to move here, you can get a visa appropriate for entrepreneurs such as the Innovator Founder visa
• You can also go through the Self-Sponsorship route, where you set up a company and sponsor yourself as a Skilled Worker to work for your own company
• Self-sponsorship is something that we specialise in at A Y & J Solicitors
01:33 Agenda 3: Setting Up the Business
• Firstly, you must decide on a unique name
• The company must have a registered office address - it can be a virtual one
• Have at least one director and shareholder - they can both be you
• You must appoint a company secretary
• You must also create the two founding documents which are the memorandum of association and articles of association
• There are many service providers who can assist in setting up a UK based company easily with a reasonable fees.
02:06 Agenda 4 - UK Business Bank Account
• This is a required step, and it is advisable to do so anyway as it keeps business money separate from your own funds
• You may find it easy to open business bank account with many digital banks such as Tide, Monzo, Starling with compare to typical high street banks
02:29 Agenda 5 - Register with HMRC
• In order to start trading the UK, you must register your business with HMRC and file your tax returns in order to pay corporation tax
• You may also have to register for VAT depending on the types of goods or services you sell, where you offer them and the amount of VAT taxable turnover you have
• Must also register for PAYE if you have employees to set up your payroll
02:57 Agenda 6 - Business Insurance
• There are several types of business insurance that may have to acquire in order to start a UK business
• If you have employees, you must get Employer’s Liability Insurance, which covers claims made by your employees against your business if they become ill or injured whilst working
• It is also a good idea to get Public Liability Insurance, as this will protect your business if you cause injury to a third party
• Professional Indemnity Insurance will protect your company against financial and reputational harm if your company makes a mistake whilst working for a customer
03:33 Agenda 7 - UK Strategic Partners
• It is possible for you to get UK-based representatives to fulfil roles in your UK business, if it is not possible for you to do so
• At A Y & J, when we handle Self-Sponsorship matters, we utilise professionals to take on the role of director and shareholder in your business, whilst an accountant will handle PAYE and VAT registration
----------------------------------------------------------------------------------------------------------------
DISCLAIMER: THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY AND IS NOT INTENDED TO BE A SUBSTITUTE FOR a Professional Legal Advice. PLEASE CONSULT A Professional Legal Adviser FOR GUIDANCE SPECIFIC TO YOUR CASE.
----------------------------------------------------------------------------------------------------------------
Need Help with Your ✈️UK Visa application? Get in touch now-click on the link to connect with us on Whatsapp bit.ly/3WiVWeq. Drop your inquiry now at bit.ly/3JjSPzQ.
--------------------------------------------------------------------------------------------------------------
Immigration Lawyers In London
We are a 13+ years experienced, multi-award-winning, Legal 500 regulated UK immigration law firm based in London.
We helped 4000+ clients with their UK immigration matter and received 1000+ reviews at Trustpilot, Google and via emails.
----------------------------------------------------------------------------------------------------------------
If this video was helpful, share it with your friends!
Stay tuned! Subscribe to our channel for more such videos.
----------------------------------------------------------------------------------------------------------------
#ukimmigration #ukimmigrationnews #ukimmigrationupdate #ukimmigrationprocess #ukimmigrationinterview #ukimmigrationandvisa #ukimmigrationhealthsurcharge