LiveAction - Radius Accelerates LiveAction Expansion
LiveAction is a fast-growing, venture-backed software company based in Palo Alto, California. In 2016, LiveAction engaged Radius to get information and recommendations about formally establishing a UK office for a growing business serving Europe, the Middle East and Africa.
LiveAction had to concentrate on its core business of software development as it expanded into the UK. LiveAction was looking to quickly expand into the UK while staying compliant with local tax, employment and other regulations. To complicate matters, the Brexit referendum was held during LiveAction’s planning.
LiveAction turned to Radius to support its UK-expansion options based on its business objectives, planned activities and evolving UK regulations, including those related to Brexit. Radius outlined various practical options, including the potential risks and benefits of each.
LiveAction reviewed Radius’ recommendations and moved forward with establishing a UK subsidiary to support the planned office. A subsidiary legal-entity type would minimize the company’s compliance risks while maximizing its flexibility. If LiveAction chooses to further expand and open offices elsewhere in Europe, the structure Radius prepared will support that strategy.
Radius established the UK subsidiary, opened a UK bank account and completed payroll registrations in the UK so LiveAction could pay its new employees while meeting its tax and social security obligations. Radius also assists LiveAction’s finance department in the preparation of financial statements and required disclosures for the subsidiary to ensure compliance with local financial reporting standards.
Radius continues to run payroll for LiveAction in the UK. Radius also completes and files LiveAction’s corporate taxes and performs other recurring back-office services to ensure LiveAction operates in an efficient and legally compliant manner.
In addition, Radius provides LiveAction with ongoing, authoritative advice related to the UK’s and the EU’s evolving regulations. LiveAction is able to make important global strategic decisions based on known regulatory risks, significantly reducing uncertainty.