I’m in the process of launching a B2B SaaS product from the UK and am trying to figure out how to get started with all the boring but high-risk stuff around accounting and company formation.
From the makeup of the launch list, I think my product is likely to sell most in the US (if it sells at all!). On this assumption I’d like to price in USD rather than GBP. The EU is also significantly represented so I’d also like to be able sell there too.
Based on the excellent talk @rachelandrew gave at LTV Conf last year, a combination of Xero for accounting (good automation support and VATMOSS calculation) and Stripe for payments/subscriptions seems a sensible way forward, initially (for simplicity’s sake) using a GBP bank account and letting Stripe do the forex heavy lifting.
What I’m missing and would really appreciate some input on is:
- Am I best off incorporating a ltd company straight away? Is there anyone who I can pay to help with this and take away some of the ongoing admin burden? Is there anything specific to SaaS type ventures (that sell internationally) I need to consider when creating this?
- How do I find an accountant who can handle this stuff? Or better still is there one you’d recommend?
- Am I missing anything? Are my assumptions wrong?
I’d love to hear any stories you’ve got to share about setting up a SaaS company (or similar) in the UK from this POV.