IVEL

Benefits of setting up a UK Based Business

Welcome to IVEL, your trusted partner in navigating the landscape of setting up a business in the United Kingdom. As experts in accounting and business advisory services, we understand the intricacies and nuances that come with establishing and managing a UK-based enterprise. Whether you're an aspiring entrepreneur or an established business looking to expand, our team is here to guide you through the process and help you unlock the numerous benefits that come with a UK presence.

• Access to Global Markets: Expand your business reach and tap into diverse international markets with a UK base.
• Business-Friendly Environment: Navigate a transparent legal system and a supportive regulatory environment that fosters entrepreneurship.
• Financial Stability and Credibility: Benefit from the UK's stable economy and financial system to enhance your business's credibility.
• Tax Incentives and Reliefs: Optimize your tax position with incentives such as R&D tax credits, capital allowances, and competitive corporate tax rates.
• Access to Skilled Workforce: Leverage the expertise of the UK's skilled and diverse workforce to drive innovation and growth.
• Networking Opportunities: Engage in networking events and collaborations to build valuable partnerships within the UK business community.
• Government Support and Grants: Explore government support programs and grants aimed at fueling innovation, sustainability, and overall business growth.
• Intellectual Property Protection: Safeguard your innovations, trademarks, and patents through the UK's robust intellectual property protection laws.
• Ease of Doing Business: Experience an efficient business setup process and a favorable environment for conducting business operations.
• Cultural and Language Advantages: Benefit from the English language advantage and cultural diversity for effective global communication.

How We Can Help

Tax Planning

At IVEL, our dedicated team of experienced accountants is committed to providing comprehensive assistance in tax planning for businesses of all sizes. We recognize the critical importance of strategic tax planning in optimizing financial positions and minimizing tax liabilities.

Our tailored services encompass personalized strategies that align with current tax regulations, identifying opportunities for:

• Deductions
• Credits
• Incentives

Whether you are a small business owner or manage a larger enterprise, our proactive approach ensures compliance with regulations while making the most of available tax advantages. We pride ourselves on our ability to offer expert guidance, allowing you to develop a robust and comprehensive tax strategy. This strategy not only meets regulatory requirements but also significantly contributes to the overall financial success of your business.

Our VAT Declaration Services

At IVEL, we specialize in providing comprehensive support for tax declarations in the United Kingdom. Our experienced team of accountants is committed to ensuring that your business complies with UK tax regulations while maximizing financial benefits. Here's how we can assist you:

• Accurate Submissions: Timely and precise preparation of VAT declarations to meet regulatory requirements.
• Optimizing Deductions: Identifying opportunities for deductions and allowances to minimize tax liabilities.
• Comprehensive Compliance: Navigating the complexities of UK tax laws to ensure full compliance.
• Personalized Strategies: Tailoring tax strategies to your business needs for optimal financial outcomes.
• Expert Guidance: Providing expert advice and support throughout the tax declaration process.

VAT Submissions for Import and Export

From our experience, many UK and international traders are not completely aware of the situation after 01 January 2021. England, Wales, and Scotland must follow customs procedures when trading with European Union (EU) countries, and how VAT is calculated has changed.

• VAT on Imports: VAT is payable upon import, but the UK government has implemented a postponed VAT payment scheme to avoid cash flow problems. This allows businesses importing goods into the UK to account for VAT on their next VAT Return, releasing the goods from customs without immediate VAT payment.
• VAT on Exports: A supply of goods to a destination outside the UK is considered an export. For VAT purposes, a direct export occurs when the supplier sends goods to a destination outside the UK. The supplier is responsible for arranging transport or appointing a freight agent. An EORI number with a GB prefix is required for goods moving to or from Great Britain, and for Northern Ireland, an EORI number starting with XI may be necessary.

Our Bookkeeping Services

At IVEL, we specialize in providing comprehensive accounting and bookkeeping services to meet the financial needs of your business. Our dedicated team of experienced accountants is committed to ensuring accurate and organized financial records. Here's how we can assist you:

• Accurate Record Keeping: Timely and precise recording of financial transactions to maintain up-to-date and accurate books.
• Financial Reporting: Providing detailed financial reports to give you insights into your business's financial health and performance.
• Budgeting and Forecasting: Assisting in budget creation and financial forecasting to plan for the future and make informed decisions.
• Payroll Services: Managing payroll processes to ensure accurate and timely payment to your employees.
• Compliance Support: Navigating complex financial regulations to ensure your business remains compliant with accounting standards.

EORI Registration Assistance

At IVEL, we provide expert assistance in obtaining your Economic Operators Registration and Identification (EORI) number. This essential registration is crucial for businesses engaged in international trade. Our dedicated team is committed to simplifying the EORI registration process for you. Here's how we can assist you:

• Guidance Through the Process: Step-by-step assistance to ensure a smooth and efficient EORI registration process.
• Documentation Support: Help in preparing and organizing the necessary documentation required for EORI registration.
• Timely Application: Ensuring your EORI application is submitted accurately and in a timely manner.
• Compliance Check: Verifying that your application aligns with the latest regulatory requirements for EORI registration.
• Expert Advice: Providing expert advice on EORI-related matters to facilitate your international trade activities.