China UK Connect - Locating in the UK

Locating in the UK - Real estate & utilities

Property options

You may choose to buy or rent depending on your needs. Buying a property can bring you the flexibility to manage and repair the building as well being able to decide when you move. It can also bring financial rewards, such as potentially selling the premises at a profit when you move on. However, fees apply for the use of estate agents, surveyors and solicitors. See our guide on buying business premises.

Renting ties up less capital. It can also give you flexibility, allowing you to relocate more easily if your business needs change. You may need to put down a deposit before renting. Contracts can be complex and you may need specialist legal advice.

Serviced office space may also be a consideration. Unlike traditional renting, a serviced office lease can be short-term over a few months, rather than many years. The cost of the rent includes full office fittings and furniture as well as business services. See our guide on renting business premises.
Planning permission

You will need planning permission from your local authority to:

- build new premises
- add an extension or change existing premises
- change the external appearance of the premises
- change a building's use

You will need to follow building regulations if you are carrying out major building work. See our guide on planning permission and building regulations.
Stamp Duty

Stamp Duty must be paid when there are:

- transactions on the transfer of land or interests in land
- grants or assignments of leases
- transfers of chargeable securities, eg shares in companies

Stamp Duty Land Tax applies when you buy a property in the UK. Currently, for non-residential property, the zero rate band stands at £150,000.

Stamp Duty Land Tax also applies to the grant of a lease. This is where the chargeable consideration for the transaction consists of or includes rent. See our guide on Stamp Duty: the basics.

Utilities
The UK offers competitive utility services with a wide choice of providers.

The gas and electricity, water and telecommunications industries are regulated by the following bodies:

- The Office of the Gas and Electricity Markets (Ofgem) regulates the gas and electricity industries in the UK. Read about the UK gas and electricity markets at the Ofgem website.
- The Office of Water Services (Ofwat) regulates water and sewerage companies in England and Wales. There are different regulators for services in Scotland and Northern Ireland.
- The Office of Communications (Ofcom) regulates the communication industries across the UK.