Auxadi UK
The United Kingdom has long been a global financial hub, and almost 60% of firms with a Fortune 500 ranking have their European headquarters in London. The UK consumer market is one of the most important in Europe and, post-Brexit, the United Kingdom remains an attractive market for foreign direct investment.
Most FDI flows are directed at the financial services sector, professional, scientific and technical services, IT trade and report and transportation. Other main economic sectors include information technologies, biotechnologies, aviation and renewable energies. And the funds market is one of the biggest in the world – UK funds being worth c. £1.5 trillion.
The UK is a union of four different and distinct countries – England, Wales, Scotland and Northern Ireland – and all four have slight variations to tax, labour, and regulatory laws.
UK
The United Kingdom has long been a global financial hub, and almost 60% of firms with a Fortune 500 ranking have their European headquarters in London. The UK consumer market is one of the most important in Europe and, post-Brexit, the United Kingdom remains an attractive market for foreign direct investment.
Most FDI flows are directed at the financial services sector, professional, scientific and technical services, IT trade and report and transportation. Other main economic sectors include information technologies, biotechnologies, aviation and renewable energies. And the funds market is one of the biggest in the world – UK funds being worth c. £1.5 trillion.
The UK is a union of four different and distinct countries – England, Wales, Scotland and Northern Ireland – and all four have slight variations to tax, labour, and regulatory laws.
Why Auxadi is trusted as an expert outsourcing provider in the UK
Setting up a company in the UK is easy, as forms for all required procedures can be found online, along with guidance on UK regulations and samples of necessary templates. But things can get tricky when you consider that, while UK-wide legislation is set by parliament in London, the countries of Wales, Scotland and Northern Ireland all have their own parliaments and discretion to control their own economies, health systems, and taxation, among others.
Auxadi is your ideal partner in the UK when it comes to helping companies and fund managers with their international expansion and investments. We offer a full range of corporate management services including accounting, tax, payroll and SPV administration services to help make life easier for our clients.
Through a single-point-of-contact delivery model and our leading MySPV technology platform, we offer a truly unique solution to our clients.
Our services in the UK include:
International Accounting, Tax and Payroll in 50 countries
Corporations
We can help you with your international expansion and we serve more than 600 clients across many different sections. We become an extension of your finance departments abroad and you can access the accounting information of all your international subsidiaries through a single portal, customised to meet your needs.
Funds
With nearly $7 billion of assets under management, we can take of the corporate management and SPV administration of your investment structures. Whether you’re creating a holding structure in Luxembourg or setting up a SPV in Europe and Latin America, we offer accounting, reporting, tax compliance and directorship solutions to help make your life easier.
Our services offered in the UK
Tax Specialists
The four nations of the UK have slightly different tax regimes and UK resident companies are taxed on their worldwide income, though many double taxation treaties are in place. His Majesty’s Revenue and Customs (HMRC) is in control of the UK tax regime, and tax administration can take over 100 hours per year.
The main corporate income tax rate is 19% and any UK-sourced income received by a non-resident company is subject to UK income tax at a rate of 20%, with no allowances.
Complying with the UK tax regime and following necessary regulatory and reporting obligations can be difficult to manage. Let Auxadi’s tax team take care of your international taxation needs, using our purpose-built automation technology to ensure you remain tax compliant at all times.
- Tax compliance – covering multinational, federal, state, and municipal taxes
- Official Books and Annual Accounts
- Assistance with tax inspections and audits
- Tax reviews and claims
Accounting Specialists
In the UK, financial statements of domestic and foreign public companies must be prepared in accordance with IFRS, specifically FRS 102 – ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, and submitted to Companies House. All companies must have an annual audit, and ensuring adherence to UK regulatory rules and reporting requirements can be a time consuming and cumbersome process.
Keeping on top of the specific accounting regimes of each location you operate in can be challenging, however Auxadi’s team of experienced accounting specialists are on hand to support with local corporate accounting requirements.
Using our bespoke and best-in-class technology platform, MySPV, you can have full and real time access and control of your accounting data, across multiple countries and multiple currencies.
Our UK accounting experts can help manage:
- Accounting and bookkeeping
- Management accounting
- Statutory accounting
- Official Books and Annual Accounts
- Cash management (including payments)
- Reporting
- Consolidation of financial statements
- Bank account tracking
- Treasury and cash flow forecasts
Audit assistance
Payroll Specialists
In the UK, employer-paid National Insurance contributions total 13.8% on all earnings over £170 per week and are deductible from corporate income tax. Employers are also required to manage a staff pension scheme, paying 3% of each employee’s ‘qualifying earnings’.
International payroll can be a minefield of regional tax codes, employment laws, benefits, bonuses and social security requirements dictated at multiple levels.
Our UK payroll specialists will use our unique payroll technology platform, to manage your payroll function.
Monitor and manage your international subsidiaries with our MultiCountry online platform
Access our online platform that provides you with a global and harmonized view of the accounting of your international subsidiaries, with drill down functionality to check support documentation, such as: invoices, outstanding creditors, approve payment orders, manage the payroll processing cycle and so much more. Request a demo to see how our technology can help you.
Get access to Auxadi corporate materials and technical guides to know more about us.
Meet the team
Rima Yousfan
Senior VP, Head of International Corporations