10 July 2012

Excellent Reasons Why Your Business Should Start In Wales

The UK Government has a very much business supportive approach in setting the best framework for businesses to start, grow and flourish across the Country, this emphasis is mainly directed at making Britain a worldwide hub to businesses to start in 2012.

Fast turnaround to start a company.

Easy registration for people that wish to become self employed, it then follows the UK tax return is done on a colour-coded scheme via online. Furthermore, when incorporating a company it is possible to have completion within an hour for around a mere £14.
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Tax authorities help and encourage start-up businesses. 

A popular attractive incentive is in Research and Development where businesses up to 3 years old are able to claim R&D expenses up to a maximum of 49% of their total costs (which can include salaries) with no minimum amount barrier.

Beneficial financial schemes. 

In the case where a business owner wishes to sell its company, then it is possible to can claim up to £10 million of Entrepreneurs Relief, furthermore investors can also claim up to £150,000 in tax credits on their investments per year.  Other schemes include employee share schemes where it can be set up in such a way that permits the share to be cashed out under capital gains tax at lower rates of around 20% compared to income tax of up to 40%.

Availability to all not just British citizens.  

Anyone resident in the European Economic Area can relocate to Britain, but from last year, a new category of visa was created to allow anyone from anywhere in the world to enter the UK and establish a company, provided there is a £50,000 of UK-based investment.

Seedcamp support.   

It was established the Tech City Investment Organization which is a Country wide support framework.

Wales Open for Business

Wales has in place five economic support areas across the Country, with Cardiff leading the way with finance. Furthermore the main advantage from England is that Wales has a dedicated Local Government which can further enhance any business operating from Wales which has a considerable dedicated support structure when compared to the larger dispersed England.