Do you want to do business in the UK? If so, there are a number of important steps you need to take. You’ll need to thoroughly analyse your situation and choose the company structure that best suits your needs. But that’s not all – you’ll also need to take care of a number of formalities to ensure that your Polish company can actually operate in the UK. Does this sound complicated? Fortunately, it doesn’t have to be. You can leave these matters to the experts and concentrate on running your business.
Why is it worth doing business in England?
There’s a reason why many Polish companies are now operating in the UK. This option offers at least several advantages, such as
- A significantly higher tax-free personal allowance
- Lower VAT rate
- Higher VAT registration exemption threshold
- Lower business operating costs
- Tax reliefs
- An attractive healthcare contribution system
- Simpler business regulations
With a Limited Company (LTD), you will report your income in the UK, but you can run all your activities from Poland. This means you don’t have to leave the country to take advantage of the favourable business conditions offered by the UK.
How to start a business in the UK?
Starting a business in the UK involves several procedures you must follow. First, you will need to decide on a specific type of business structure – will you operate as a company, be self-employed, or perhaps open a branch in the UK?
Each of these choices comes with different obligations regarding completing the necessary paperwork, paying fees, and submitting forms to UK authorities such as HMRC or Companies House.
As you can see, it’s hard to give a one-size-fits-all answer to the question of how to set up a business in the UK. It really depends on the type of company structure you choose.
Polish company in the UK – what business options are available?
Just like in Poland, there are various forms of business structures available in the UK.
If you’re just starting out, the two most common and usually most advantageous options are self-employment, which is the British equivalent of a Polish sole proprietorship, and a limited company (LTD), which is similar to a Polish spółka z o.o. in some ways.
But there are many more options. The best one for you will depend on factors such as
- The type of activity
- Business model
- Planned number of employees
- Budget,
- Tax filing preferences
When is Self-Employment in the UK the best option?
Self-employment in the UK is an ideal choice for freelancers and those taking their first steps in business. It is often chosen by those who wish to avoid unnecessary formalities. But is it the best way for your Polish business to grow in the UK?
After Brexit, you can operate as self-employed if you hold a special visa or have settled or pre-settled status. This means that if you want to run your business from Poland, self-employment may not be the best option for you.
What about a company structure? LTD, LLP, and Partnership
Very often Polish companies in the UK operate as a Limited Company (LTD). This is mainly because you don’t need to be resident or domiciled in the UK to run a business in this form. You can run your business from Poland.
Contrary to popular belief, this is not just an option for larger companies. Just as in Poland, where you can run a one-man spółka z o.o., in the UK you can be the sole member of your LTD company and act as both its director and shareholder.
On the other hand, a Limited Company is not available to everyone. Depending on the nature of your activity, you may not be able to use this option. You must also keep in mind that running an LTD involves more responsibilities and formalities than self-employment.
It’s also worth noting that while self-employment and LTD are the most popular options, they are not always the best. Sometimes, your Polish company may benefit the most from being run as an LLP or Partnership in the UK. Another alternative is to base your company in Poland and operate as a UK branch.
Professional Support for Your Business in the UK
As you can see, there are many factors to consider. Without a thorough understanding of the rules, it can be difficult to assess the best way to run your Polish company in the UK. However, you don’t have to decide on your own – it’s best to seek expert advice.
Who better to advise you on the best choice than an accountant who deals with all these types of business structures and is up to date with tax regulations and formalities? By using our firm’s services, you’ll find out which business structure is really best for you – and we’ll explain it to you in detail. This means you don’t have to worry about regulations or dealing with the authorities. You don’t even need to be fluent in English – we’ll do it all for you.
We’ll also support you in the later stages of your business, taking care of the legal aspects of your company. What’s more, because we have offices in both Poland and the UK, you don’t need to worry about administrative matters – we’ll take care of them for you. As a result, you can run your business in the UK without leaving Poland.
By working with us, we will:
- Advise you on the best business structure for you
- Continuously take care of all formalities
- Handle all correspondence and contact with the authorities
- Ensure all deadlines are met
Contact us and expand your business in the United Kingdom!
