Exporting to Great Britain
Finance and taxes in Great Britain
Selling to GB is relatively straightforward. Unlike exports to other countries, there are no special taxes or duties. VAT operates in the normal way, and profits on sales made in GB are taxed in the same way as other profits.
Developing new customers in GB can be relatively inexpensive. In many cases, your main costs will be carrying out market research and paying for visits as you build relationships.
If you sell to businesses, they will probably expect to be offered credit. This can increase the financial strain as your business grows. You may want to consider borrowing additional money or using financing techniques like factoring. You also need to check creditworthiness before offering credit to new customers, and exercise effective credit control. Read more about getting paid on time.
Invest Northern Ireland can offer advice on financing. They may also be able to offer financial support to client businesses that cannot obtain it commercially. Read more about Invest NI financial support.