Payhawk partners with Mischon de Reya to launch guide to opening an entity in the UK
Today Payhawk, the growing platform that combines expense, payment and invoice management in one solution, and renowned law firm, Mishcon de Reya announced the launch of Scaling into the UK, its guide to opening an entity in the UK.
The UK is often seen as an attractive place to start or expand a business, however it can be difficult for entrepreneurs from overseas to find reliable information about launching their business in The UK.
Scaling into the UK is written by experts from both Payhawk and Mishcon de Reya, and provides guidance on the necessary business activities required when expanding to The UK, and advice on how to optimise time and process while waiting for lengthy tasks to be completed, such as opening bank accounts.
The guide, aimed at startups, scale-ups, FGBs and growing SMEs, covers a range of topics, including why companies should choose the UK (which partner to use); the type of business to select (i.e. an entity, a limited company); registering with Companies House, for tax and with HMRC; employment, and choosing the relevant finance stack.
Hristo Borisov, CEO and founder of Payhawk, says, “I’ve lost count of how many times fellow scale-up CEOs have asked me about opening a UK entity. I am thrilled to collaborate with the prestigious Mishcon de Reya on this guide. They are absolute experts on supporting companies to open UK entities. We at Payhawk worked with Mishcon de Reya to open our UK entity and begin hiring, and we found the experience smooth and enjoyable.”
Andrew Wolfin, partner at Mishcon de Reya, says, “Payhawk is a fantastic example of exactly the kind of scale-up companies we want to support. Our hope is that through this guide, we can reach out to even more exciting scale-ups and guide them through the initial stages of their journey, helping them to set up their business in the right way and achieve their potential as they look to scale and grow.”
Even in 2022, in the UK there are still numerous business set-up activities that cannot be completed online. Companies will need to open a new bank account, and with the current restrictions to international travel, this can cause unnecessary friction. Therefore it is vital to have a trusted partner on the ground who will take care of location-specific tasks. This is one of Mishcon de Reya’s areas of expertise.
Payhawk currently has offices in four cities across Europe. Therefore they have the knowledge and experience of setting up in the UK that will be invaluable to numerous growing companies.
Scaling into the UK is available via the Payhawk website , with versions available in English, Spanish and German. Further blogs and webinars on the topics covered are soon to be released.