Consultancy Services for Business in the UK, a Path to Success

A consultancy services for business in the UK will help you leverage the country’s competitive tax system.

It is well-known that one of the main reasons foreign investors choose the UK for investment is its tax regime.

However, it is crucial to understand the legal and tax implications when establishing a company in England.

Otherwise, instead of benefiting from this favourable business environment, you risk facing severe penalties.

While the taxes in the UK and its legal framework are similar to those of other European countries, it is advisable to seek consultancy services for setting up a business in the UK.

Below, we provide details on the types and features of such consultancy services, along with indicative pricing.

1 Features of Consultancy Services for Business in the UK

2 Price Reference

3 Risks of Not Engaging a Consultancy Services for Business in the UK

4 Conclusion

1 Features of Consultancy Services for Business in the UK

We will outline here the key traits that consultancy services in the UK should possess in order to earn our trust.

Registration and Licences

They must be registered with official bodies such as Companies House.

Besides, they need to hold accreditations from professional associations like ICAEW (Institute of Chartered Accountants in England and Wales) or the SRA (Solicitors Regulation Authority).

Market Experience

Companies with more years of experience often have a team of experts and an established reputation.

Transparency in Fees and Services

It is crucial for the company to provide clear information about costs and the services included in each package.

Customised Service

The best consultancies offer a customised service tailored to the needs of the business owner.

In most cases, you will be assigned a dedicated advisor who will become familiar with your specific situation and be able to guide you more effectively.

2 Price Reference

The cost of engaging external support from a consultancy services for business in the UK depends on the reputation of the consulting firm and the additional services included.

n general, you should distinguish between one-off and recurring services.

As an example, we provide the following table:

Service Type	Price
Basic Company Registration	Between £100 and £500
Legal and Regulatory Advice	Hourly rate: £150 to £500
Monthly Accounting and Tax Advisory	£50 to £500 per month
Registration, Basic Accounting, and Bank Account Opening Services	Between £500 and £1,500
Comprehensive Business Consultancy and Planning Services	Between £1,000 and £5,000, depending on the client’s needs

Other services commonly requested include:

VAT Registration: Between £100 and £300
Business Address Services: Between £200 and £500 per year
Drafting of Commercial Contracts: Between £500 and £2,000

3 Risks of Not Engaging a Consultancy Services for Business in the UK

Setting up a business in the UK without the guidance of a consultancy can lead to significant problems, some of which could affect the business’s viability and stability.

Examples include:

Errors in Registration and Legal Compliance

A simple mistake in the company formation or tax registration process can delay the opening and even result in financial penalties.

Issues with Tax Obligations

Failing to file tax returns correctly or not registering for VAT when required can lead to substantial fines.

Difficulties in Securing Financing

Financial institutions often require well-structured documentation and solid business plans to provide funding.

Without consultancy services, this process can become more complicated.

Legal Risks and Lawsuits

Lack of knowledge regarding employment, contractual, or data protection laws can lead to legal issues that damage the business’s reputation and stability.

4 Conclusion

Before engaging a service, it is essential to assess the company’s reputation, the transparency of its fees, and the quality of the support provided..

While costs may vary, engaging a consultancy services for business in the UK is a key investment for the company’s stability.

Being aware of the risks involved in making decisions without proper knowledge helps put into perspective the monetary value paid for access to this expertise.