How to set up a virtual office in the UK?

Are you familiar with the term "registered address" vs "trading address"? Virtual offices are one of the most popular non-traditional methods of starting a business in a certain place. You may already be aware of what a virtual office is, but determining if it is worthwhile is another matter completely.

What is the definition of a Virtual Office?

A Virtual Office is a scalable business space that offers all the services of a regular office at a fraction of the business. A virtual office is an intelligent method for your start-up or SME (small to medium-sized companies) to reduce overhead costs, enhance earnings, and expand its reach.

Due to the fact that a virtual office is essentially an online operation, you may oversee operations from any location, whether it's your home office or a coffee shop. Virtual offices are ideal for companies seeking to establish a presence in a new market.

Why should you use a virtual office service? What are the advantages?

1. Modern companies can run almost entirely online. With a premium virtual office package, you can access mail and email handling services, host on-site meetings or have a receptionist handle your telephone calls sometimes via toll-free phone number. However, one of the problems that often arises when using virtual office services is, whether or not a company can become a Taxable Person for VAT purposes, not all virtual office service providers can help your business in applying for VAT.

To be legally compliant, any company registered in the United Kingdom must have a legitimate UK address. Companies House will record the registered address. This address will receive all official mail from HMRC and Companies House.

2. Easy to Set Up: Setup is quick and straightforward, and clever technology enables you to access all of the features of a typical office from any location. To keep your team connected, you'll need the best communications software.

3. Costs and concerns are reduced: The cost of a Virtual Office is location-dependent. A Virtual Office typically costs roughly £15 per month. Contracts are very adaptable and do not bind you in the way that a typical office does, which makes it easy to relocate if necessary. There is no need to be concerned about receiving and processing your correspondence. All letters are accepted and forwarded to your e-mail address.

4. Prestigious address: What matters is that a famous city center address like London lends your business an air of professional authority. This is something that your home address may be unable to accomplish. By including a well-known address on your business cards, website, and letterhead, you ensure that your customers and clients will recognize it quickly. If you're looking to construct a corporate brand, this will go a long way toward assisting you in making the best first impression possible.

5. Convenient: Unlike a regular office, there are no lengthy leasing contracts or utilities or maintenance expenses to contend about. Most virtual offices charge a monthly fee and allow you to choose the services you utilize. Additional costs may apply if you want to utilize these add-on services.

How to set up a virtual office in the UK?

1. Plan Your Strategy: The location of your postal address will also be determined by the kind of your business. If you offer high-end service solutions to business professionals, a city center address like in London will be more acceptable and consistent with your brand image. If, on the other hand, you manufacture a product and the majority of your consumers are online, an address on the outskirts of town may be more practical and cost-effective.

2. Choose the address that is most convenient for you to use: One of the primary benefits of a virtual office is that you receive an address. There are virtual offices accessible around the United Kingdom, so you can choose where you wish to be 'virtually' situated, most companies prefer to use London based addresses.

3. Create an account: Before purchasing a virtual office package, create an account with the service provider that best meets your needs.

4. Plus services can be added based on your demands and budget: Choose just what you require from your virtual office. What features and services are you going to require? How do you maintain control over your team's productivity and communication? How much latitude will you allow your employees?

5. Submit your bid: Once you've compiled a list of requirements and preferences, you can begin researching virtual office providers and packages. Consider a solution that provides a high level of functionality, the ability to scale up or down, and straightforward, cheap price options.

What are the different services provided by a virtual office company?

1. A virtual office can be used as a registered office address. Benefits include access to business rooms around the world, staffed telephone services plus administrative support, thus included is the ability to balance your work-life.

2. Prestigious address. you will receive a primary postal address for your business in any location you like. Please keep in mind that costs might vary drastically between locations. For example, if your virtual address is located in central London, you might expect to pay more than if it is located in a smaller city.

3. Receptionist and telephone answering services. These include the following:

• Answering telephone calls
• Call forwarding to your phone
• Alerts through text message and email
• Service of a receptionist

4. Services for mail handling. These include

• Mail forwarding services, which sort your mail on your behalf and then deliver it to you through first class mail. You can have this done daily, weekly, or monthly. Generally, the charge for this service covers the cost of mailing plus a minor administration fee. The average monthly fee is often only a few pounds.
• Mail Scanning - if you've ever wished for a life free of heaps of mail, this is the service for you. Save time and space by having your mail opened on your behalf. The virtual office can scan it and email it to you promptly. This may be done on a daily basis to ensure that you never miss an essential event. You can pay in bulk or per item.
• Scanning and Forwarding — If you receive critical papers and want a physical copy in addition to the scanning services, they can be transmitted to you through first class post the following day. The same fees as for the mail forwarding service apply.

5.Office Space. Occasionally, you will require an actual office space to do business. For example, if you're a digital nomad who travels frequently yet has to visit London or Edinburgh to meet clients, you'll receive professional meeting rooms, conference rooms, and work space.

6. A good premium package will provide you with the meeting rooms you need to impress your clients. You’ll have access to fully equipped boardrooms, conference rooms, and meeting offices when you need them.

7. Formation of a company. Even if you work virtually, you must still choose a business organization. As a business owner, legally incorporating your business has implications for your responsibility and taxation.

Conclusion

Virtual Office services are in high demand among overseas entrepreneurs, as having a local legal address for your business is necessary. If you are a small company owner in your community, we also encourage you to make use of these services to make your daily life easier. Numerous virtual offices provide a variety of membership levels. These include month-to-month contracts. Alternatively, you can pay an annual fee and receive cheaper services.