Working in the UK: A Quick Guide for EU Citizens

Wednesday July 27, 2016

Setting up a business in the UK means coming to terms with the rules and tax laws.

If you're an EU national looking to set up as self-employed or a Limited Company in the UK, there are a few things you need to know. It's actually not that difficult to do, and it doesn't need to be expensive. There are some tricky rules and regulations to watch out for, though, and it's all too easy to get tangled up in them.

For Limited Companies, you'll have to register with Companies House and file confirmation statements at least once a year. To register, you'll need an official company address and at least one Director and Shareholder. The same person can be both, or you can have many of either.

Even if you're based overseas personally, you still have to set up by the rules. That means complying with all the filing and reporting regulations, and making sure you're paying tax correctly. If you haven't already, you should definitely open a bank account for your business. Wherever possible, you're going to want to keep your personal finances separate from your company's.

If you're travelling regularly to the UK for work, you might have to watch out for the regulations about your "residence status" and "domicile". Understanding these can make all the difference when working out what taxes you have to pay, and can even save you from being taxed in both countries at once! There are "double taxation" agreements between the UK and certain other countries to help prevent that, but they're not universal so it's essential to work out where you stand.

EU citizens may find themselves having to prove that they have the right to live or work in the UK. If you're from any part of the European Economic Area (EEA), you can apply for a certificate to do this - although you may not necessarily need to. If you're entirely self-employed or a student, for example, you won't have to apply. It may still be worth doing, though, as it can make it easier to claim any benefits you're entitled to.

Whatever kind of business you're starting, you can always find help at RIFT Accounting. We can make the whole process simple and painless, from registering with Companies House to filing your Self Assessment tax returns and confirmation statements. We can sweep away all the jargon and clumsy "business language" cluttering up the process, and keep everything crystal clear. Just call or email RIFT so see how we can help put your business on the map.

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