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InterGest United Kingdom. Antony Hawker is the Chief Executive of InterGest United Kingdom Limited. He has been working with foreign companies in the UK since the early 1980’s. He has a long and successful track record of bringing foreign companies to do business in the UK.
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InterGest United Kingdom • Antony Hawker is the Chief Executive of InterGest United Kingdom Limited. • He has been working with foreign companies in the UK since the early 1980’s. • He has a long and successful track record of bringing foreign companies to do business in the UK.
InterGest United Kingdom • Located in modern style offices in Purley. • We employ 35 staff who are all highly trained with a wide range of specialist skills. • We use modern, streamlined technology to maximise our efficiency and reduce costs.
InterGest‘s Basic Concept • Concentration on core business. • Everyone should concentrate on what they do best! • Outsourcing with competent partners. • Reduces the process costs and increases efficiency. • Converting overheads into variable costs. • Creates more flexibility and independence. • Provide a ‘one-stop’ business outsourcing solution. • Providing local expertise for global players.
What does InterGest do? • Debtor control and collection of customer accounts. • Creditor ledger management including payments. • Payroll and associated tax returns. • Management accounts. • Value Added Tax including Intrastat. • Cash management and operation of bank accounts. • Corporate and personal taxation. • Statutory accounts production. • Employment law and HR administration. • Company law and general legal matters.
The British Isles Northern Ireland Scotland Wales Isle of Man England Ireland Guernsey Jersey
UK Law • UK law operates under a common law system, rather than the civil system preferred in continental Europe. • UK courts look at past cases when reaching verdicts; their decisions are heavily influenced by Case Law. • Different laws apply to different regions of the United Kingdom. • These regions have different Company Registrars: • Cardiff (England and Wales) • Edinburgh (Scotland) • Belfast (Northern Ireland)
UK Law • The Isle of Man, Jersey, Guernsey, Alderney and Sark all have separate Judicial Systems. • The Isle of Man is within the United Kingdom for VAT purposes. • The Channel Islands are NOT part of the European Union and as such are not part of the VAT system.
Financial Information for the UK in 2012 Currency - Pound Sterling (GBP) Population: 63 Million (December 2011) Inflation (RPI): 2.8% (June 2012) Inflation (CPI): 2.4% (June 2012) Unemployment Rate: 8.1%(May 2012) Wage Growth: 1.8% (April 2012) GDP Growth Rate: - 0.7%(July 2012) Bank Base Rate: 0.5% (July 2012) Euro Land Rate: 0.75% (July 2012)
Structuring your business - the options 1 • Direct 2 • Branch 3 • Limited Company
Branch • Registration of the overseas trading entity in the UK. • Constitution documents have to be filed in English. • Overseas accounts have to be filed every 12 months, also in English. • Become public documents. • Pay tax at full rates – 24%. • In a commercial context, this structure is often perceived as not fully committed to the UK market.
LimitedCompany • Provides a separate legal entity • Can shelter a parent company from third party liabilities • Need to file annual accounts • Can qualify for lower tax rates depending on group size and profits • Minimum one director – does not need to be UK resident • Minimum one shareholder • Minimum share capital of one penny • Process is quick and simple
Company Tax Rates • Small Company Rate, profits < £300,000 20% • Intermediate Rate, profits £300,001 < £1.5m 25% • Full Rate, profits > £1.5m 24% • The profit thresholds are divided by the number of companies in the worldwide group.
Who are our Clients? • Predominantly small and medium-sized enterprises in the consumer and capital goods sectors. • Subsidiaries of large Multinational organisations. • Service companies operating in all sectors of the economy.
Contact Information InterGest United Kingdom Palmerston House 814 Brighton Road Purley Surrey CR8 2BR Phone : + 44 (0)20 8655 8450 Fax: + 44 (0)20 8655 8501 Info.uk@intergest.com www.intergest.com/uk