Herbert Parnell – Specialist Services – Outsourcing
Doing business in the UK
Are you considering setting up a branch office or subsidiary company in the UK? Are you looking for help with accounting services?
Herbert Parnell can advise you on the important questions related to doing business in a new country. These include:
- What legal form should I use (Limited company, Partnership, LLP)
- How do set up the preferred structure
- How can I identify important legal requirements
- What is involved in taking on staff
- What are the obligations relating to tax (registration, submitting returns, making payments)
- What are the requirements for filing annual accounts
- Can I obtain finance locally
- Are there issues over transfer pricing for purchases of goods and services, including royalties
Herbert Parnell has over 25 years experience as a “trusted professional” supporting start up and developing businesses in the UK. We offer a wide range of services, including:
- Limited company set up & company secretarial services
- Bookkeeping & accounting service
- Treasury & day to day banking
- Management accounting
- VAT returns
- HR administration
- Employee benefits including pensions
- Annual accounts and tax compliance
- Annual audit
- Tax planning
- General commercial advice & consultancy
We can also introduce clients to a range of other professionals including lawyers, insurance brokers, & bankers.
You will benefit from working with Herbert Parnell by …
- Acquiring a better understanding of the legal obligations on businesses in the UK
- Having a trusted partner on the ground who will really interact with you to help you make good business decisions
- Having a flexible support service that can cope with growth in your business if it occurs, but which enables you to choose the point at which you invest in infrastructure (particularly people and offices)
- Having a safe pair of hands to provide professional controls in the early stages of the new business (particularly over banking/payments, financial reporting of UK activities, and general compliance requirements)
- Having someone who understands the expectations of multinational businesses in relation to reporting, controls, and deadlines, but who can apply them practically to a small or start up business, without incurring large firm costs
We aim to offer a highly flexible service to support the development of your business. We can provide anything from a one off piece of advice on a UK tax question, or completion of a quarterly VAT return, to a full outsourced accounting & finance department function.
The Herbert Parnell office is based near Woking, south west of London. This location has good access to Heathrow and Gatwick airports and good road and rail links into central London. Clients are able to use it as a registered office address for their companies and we also have meeting room facilities available.
If you would like a free initial meeting or discussion to find out more about how Herbert Parnell could support the development of your business in the UK, please contact Andrew Hodgetts () or Lance Redman (), or telephone 00 44 1483 485444.
Herbert Parnell outsourcing clients have included:
S Ltd – the UK subsidiary of a European plc. The firm provided a wide range of services over 18 years, with a particular focus on management reporting, financial control, annual accounts and tax compliance. During this time the company grew from £2m turnover to £10m turnover. This client involved the firm being linked in to the group IT systems for SAP accounting, statutory financial reporting and internal e-mail.
I Ltd – the UK subsidiary of a NASDAQ quoted company involved in the healthcare sector. The firm provided a full outsourcing service for the UK company, including bookkeeping, payroll and employee benefits. The business started with 3 staff and grew to around 30 for several years. Following success as part of a team bidding for major government contracts the UK company increased its headcount to over 300 in a short space of time. The firm continued to support the company for a further twelve months as it put in place substantial infrastructure to take all accounting and finance functions back in-house.
V Ltd – the UK subsidiary of an unquoted European parent in the oil & gas sector. As part of a strategy of review and consolidation of its exploration assets the UK company closed its UK office. The firm assisted with the final closedown and took over all accounting and finance functions for the reduced entity, enabling the parent to maintain a UK presence while managing an organised restructuring programme.
C Ltd – a privately owned UK business in the recruitment sector. The founder of this business was keen to focus his energies on marketing and business development, and initially used Herbert Parnell to provide a full outsourcing service for book keeping, finance and payroll. As the business grew some book keeping and finance functions were taken back in house and responsibilities were split between the company and the firm, making use of cloud based accounting software to give dual access and reporting.
In most cases our outsourcing clients have chosen to continue using the service for many years, even when their businesses have grown fairly substantially. We believe this has been a reflection of the fact that Herbert Parnell had become an important and valued part of their UK team.