Setting Up In The UK? Considered Outsourcing?

Setting up in an overseas country can be something of a challenge, particularly if you don't know the local legislation and custom. So it's important to make sure that you've got someone in your team to help you make sure that the basics are looked after.
 
But after sales generation and getting the right people in place, containing costs is often priority number 3 for new entrants to the UK, so there may not be the budget for 'back-office' staff. If this is your dilemma, outsourcing could be the answer.
 
James Cowper is experienced at working with companies setting up in the UK. Many of our clients do not initially employ a UK accountant in-house and therefore look to outsource some or all of their financial and regulatory functions to us. Whilst some of the basic processing can be done overseas there is usually a need to do some bookkeeping in the UK. In addition there are a large number of ongoing regulatory, legal and tax filings that are specific to the UK. Whilst non-financial staff can deal with some of these, this can distract from the key task of growing the business. 
 
Our services include;
  • Arranging initial tax registrations 
  • Producing accounting records 
  • Preparing management accounts and reports in a format and to timescales acceptable to the overseas parent
  • Preparing annual statutory accounts for Companies House 
  • VAT returns 
  • Payroll administration, including specialised expatriate payrolls 
  • Corporate tax returns and associated tax planning 
  • Being the Registered Office and preparing associated statutory filings 
  • Annual corporate tax returns 
  • Expatriate services aimed at your assignees 
We recognise that one approach does not fit all companies, so the services are tailored to each specific client. A further benefit of outsourcing is the flexibility it gives. We can easily increase our input as the business expands, or reduce it when the business gets to the size where it can recruit its own accountant. The service is also suitable for more established businesses which value being able to focus on key drivers of success such as product development and sales growth, rather than accounting and finance.  In recent times online accounting has become increasingly popular - this allows financial information to be accessed 24/7 from anywhere in the world, a major plus for regular travellers or where time differences are an issue.
 
Please contact Mike Farwell to discuss how outsourcing can help you on +44(0) 1635 35255 or mfarwell@jamescowper.co.uk
 
Article posted by James Cowper LLP