Accounting & Tax Services
Accounting Software Question
The book-keeping team for our Frankfurt based operation are based in the UK. We are therefore seeking an accounting programme we can run in the UK that meets German legal, tax or regulatory requirements. The idea being that the UK book-keepers would input the day-to-day financial data into the software programme and then export this data as a excel-csv-file to our German accountants to calculate our corporate responsibilities i.e. VAT/CT. We have tried using a UK centric accounting package but the data sent to our German accountant is not deemed compatible. Can anyone suggest an accountant software to use in this scenario? Contact: info(at)smithstonewalters.com
Setting up operations in the UK or globally?
Entering new markets is both an exciting time and a risky time for businesses.
We know how critical it is to get expansion plans right first time and can help with your foreign direct investment options. When setting up new entities in the UK, staff based in parent organisations companies outside the UK may lack the local knowledge needed of tax, legal and employment legislation and compliance requirements. You may not be aware, for example, of local HR legislation which carry personal liability sanctions, or local tax obligations which might be created based on the company structure you choose to create.
What do you need to know?
RSM can plug this knowledge gap, acting as your adviser guiding you through the complexities of foreign direct investment. We have put together a guide to what to consider when expanding overseas which will help you understand what you need to be aware of, and to plan your project successfully. We can help to de-risk your project and actively manage your challenges.
We have also put together a more in-depth guide to starting up in the UK and our summary of the top 10 considerations.
A guide to building a business in the UK - BDO
“Business in the UK – A road map” is a comprehensive and detailed guide to everything you need to know and do to make your new business venture a success. Each chapter will take you through best practice and legal requirements for different aspects of your business.
Making the most of regional strengths and specialisms, planning your tax and tax compliance, understanding VAT thresholds, meeting your obligations as an employer, and making the most of tax reliefs and incentives for innovation and research are just some of the issues covered.
Our experience of working with successful UK and German businesses has helped us put together a summary of the most important considerations for anyone looking to grow and expand into the UK.
Download your copy of the guide here.
To discuss the guide and your business’ growth plans, please contact Ian McBane, Business Services & Outsourcing Partner, on ian.mcbane(at)bdo.co.uk
If you’re an ambitious business managing people, goods or services moving between the UK and Germany, it pays to have the right skills and connections on your side.
Our UK-German market specialists use their local insight and international experience to identify relevant opportunities and obstacles, navigating unfamiliar business cultures and regulations. We offer a full range of services including international tax advisory, global mobility and HR consultancy, corporate finance and GDPR alongside the usual accounting compliance services.
And as a member of the Moore Global Network, we can tap you into the knowledge and expertise of over 30,000 experts across more than 110 countries. We have a strong network of firms based across the UK and Germany.
Our German Desk has been actively involved in helping companies on the German-UK business corridor for over a decade. Our German-speaking advisers use their local insight and international experience to identify relevant opportunities and obstacles, navigating unfamiliar business cultures and regulations.
Germany remains an important market for the UK and we actively support strengthening our relationship.