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By miguel-ingles
- In Uncategorized
In the past few years, the UK has attracted talent and capital from other regions of the world. This has happened due to economic and business advantages offered in this country that do not exist in other markets. In previous articles, I have shown how to set up a company here. On this occasion, I will explain what to do after forming a company in the UK.
Taking Care of the Business’ Image after Forming a Company in the UK
The UK is famous for being a business and trade hub. Therefore, we should try to stand out among our rivals. For that purpose, we should make certain decisions. I will list these in the following lines.
Creation of your Own Corporative Image
After setting up a company, we must gain the attention of possible customers. Thus, we should make a market research report, in which uncovered British society needs are analysed, alongside how people would expect businesses to offer these services.
Then, with the aid of the results that the report shows, we will create our own corporative image. We will have to design a unique logo and slogan, construct a business’ webpage and record adverts for radio, television and social media. Internet presence is key to get to as many users as possible, especially when our main target audience are young people.
Offering a Quality Experience
Maintaining our clients is just as important as attracting new ones. It is probable that other companies offer the service we provide. And so, if we want people to choose us, we shall not only sell a product, but an experience. We are talking about feelings or memories, which will remain in our customers minds in a positive way, so that, in a near future, they will ask again for our services, in addition to recommending our business to family and friends.
User Feedback
In relation to the last section, it will be a great idea to allow clients to express how their experience with our company has been like. In which aspects we stand out? How could we improve our services? It is important that users think that their suggestions and complaints are listened.
We could carry out this feedback process in many ways. One option would be to create online satisfaction surveys where clients could mark aspects such as the quality of our services, communication between customer and company or human treatment, among other factors.
An alternative would be to open a suggestion box and having claim forms. Users will be able to point us what went wrong, what can be improved and which other services they advise us to offer.
Taxes and Other Tariffs to Consider after forming a Company in the UK
Many of the taxes a company must pay in the UK are similar than in other markets. We are talking about VAT, Corporation Tax, Income Tax and each of an employer’s employees National Insurance fees that they must overcome. The difference is that, in the UK, tax percentages are, usually, lower than in neighbouring nations.
Missing on paying these tariffs can put you into legal issues. HMRC may seize personal assets, and you can even be sentenced to prison.
In addition, natural people, sole traders and members of a Partnership must also pay a National Insurance fee, so the administration can afford public services.
On the other hands, local governments enforce tariffs to imported goods. They take this decision with the justification of protecting local producers and industries from alternatives coming from abroad. Due to this, it is possible to opt for offering certain products and services instead of others.
You will find more information about how a company pay its taxes in the UK in this webpage.
Opening a commercial bank account
Having a commercial bank account in the UK will allow us to separate personal and business economy. And so, we will get a more precise view of our company’s finances.
To obtain a commercial bank account number, first we should contact a bank that is active in the UK (for example, Barclays). Each one will require us to fulfil different requirements. Some of the information they usually ask for is an I.D. Document, a contact phone, a personal address and the location on the general headquarters of the company, the annual income and expenses previsions and the Companies House registration number. At last, we will have to pay some fees in concept of bank account creation.