Expansion from the UK

The rise of globalisation has seen an ever-increasing need for businesses to operate across the world. In the era of online business, expansions can be achieved quickly and seamlessly and Smith & Williamson will be by your side to allow you to focus on growing your business.

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With our Nexia network, Smith & Williamson IS well-placed to help explore expansion opportunities for your business to ensure that you hit the ground running and avoid any unexpected complications. Below, we set out a few key considerations for businesses looking to branch out.

How we help

Compliance – Expansion into new jurisdictions may result in additional complexity with regards to compliance obligations. We can assist with identifying and meeting these compliance obligations and to prevent them being an unwelcome distraction.

Structuring – There are many aspects to consider when expanding into new territories, including the choice of vehicle for entering the new jurisdiction, and the wider options for the group, such as where the IP should be held and whether or not a holding company might be appropriate. Our dedicated team can assist with these decisions to ensure a robust and efficient group structure.

Financing & cash repatriations - As your business expands, the ability to flow funds through the group becomes increasingly important. We can assist in assessing the options available to your business for profit extraction to ensure a tax efficient structure.

Managing risk – Our team can assist in identifying and preventing risks regarding tax residence and permanent establishments, so you have processes in place to prevent any unwelcome tax complications.

Expanding to the US - The US is an important market for many businesses and therefore it is vital that expansion in that market is planned carefully in advance of taking those vital first steps. We work very closely with our Nexia partners in the US to assist businesses making the transition.

 

 

Frequently asked questions

Do I need an EU company now that the UK has left the EU?

Whether or not you need an EU company post-Brexit will depend largely on your customer base and regulatory requirements.

Although some businesses may be forced to move operations to the EU due to regulatory requirements, the UK remains an attractive market for the vast majority of businesses, as well as an excellent location for attracting investment with corresponding tax incentives for both investors and investees.

Find out more about our International Tax Services here.

What makes a good EU hub?

The choice of jurisdiction will be driven by your business’s commercial needs, but there are many other important considerations.

When setting up in the EU, the choice of jurisdiction should be focused around the commercial needs of your business. The driving factors are likely to be availability of local talent or the ease of supply chains.

A business’s tax residence depends primarily on where it is incorporated and where it is managed and controlled. Where your business operates in multiple territories, and therefore you have greater flexibility over your choice of where to incorporate and manage it from, consideration can be given to other factors.

Factors to consider here include local tax rates, complexity of local filing requirements, local employment law, cash repatriation and the availability of a tax treaty network to reduce double taxation.

Find out more about our International Tax Services here.

Are Smith & Williamson an international firm?

As part of Nexia International, the 9th largest international network of financial services firms, Smith & Williamson offers a truly international service.

With over 700 offices globally, covering more than 120 countries, the Nexia network provides Smith & Williamson with the platform to deal with all your international demands. Nexia is built along the same principles as the service provided by Smith & Williamson, driving a more personal, partner-led approach.

Smith & Williamson works closely with the network as appropriate and our international tax team also has the experience to deal with the majority of your international tax questions directly.

Find out more about our International Tax Services here.

Visit our Nexia site here.

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Alistair  Shaw's Profile Photo

Alistair Shaw

Partner, Corporation Tax, Business Tax

Business tax
London

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