Corporate
1. Decide what degree of presence you need in the UK - e.g. sales representative, branch, or subsidiary company.
2. Plan how you will fund the UK venture and repatriate profits in a tax-efficient way.
3. Plan how sales to other European countries should be dealt with if the UK is your European base.
4. Do consider transfer pricing issues at the outset.
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Corporate
1. Assume that existing compensation packages will be appropriate or tax-efficient for expatriates working in the UK.
2. Forget about Value Added Tax ('VAT').
3. Worry about local income or sales taxes in the UK because such taxes are only levied at a national level.
4. Don't order equipment prior to getting grant approval.
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Personal
1. Ensure that your assets and in particular cash remain outside the UK to avoid paying UK tax on any income or gains.
2. Ensure that any leases taken out on rented accommodation are not of an excessive length.
3. Keep a detailed diary of days you spend in the UK. |
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Personal
1. Bring income or gains generated from non-UK assets to the UK. They will attract UK tax.
2. Purchase a house in the UK. It can affect your residence position.
3. Forget that for UK residence purposes days of arrival and departure do not count as actual days in the UK. |
