Yesterday saw a UK business news article on our website titled ‘Red tape freeze extended‘. It outlines how this would impact British businesses with less than 50 employees. However, I will take this further in context to overseas companies setting up in the UK.
From 2014 potentially qualifying firms will undergo an assessment process to see if they meet the criteria of burdening regulations. UK VAT registration is a common area, which we find just as cumbersome for overseas companies doing business in the UK and the requirements of this. This is compulsorily when the UK turnover reaches £79,000. However in order to obtain registration, this process can be extrapolated due to HM Revenue and Customs conducting extensive checks ensuring the UK operation is bona-fide, and not that of fraudulent activity. (more…)
