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UK companies in Vietnam: tax, accounting, and CFO advisory

Vietnam-side accounting, tax, payroll, transfer pricing, and CFO advisory for UK-headquartered companies. HMRC-aligned documentation, GBP reporting.

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Overview

UK companies have a long-standing presence in Vietnam, particularly in financial services, manufacturing, and education. We provide Vietnam-side accounting, tax, payroll, transfer pricing, and CFO advisory to UK parents. Our team is familiar with the UK-Vietnam tax treaty, HMRC documentation requirements, and GBP / USD reporting frameworks.

Who needs this service

  • UK-headquartered companies with Vietnam operations
  • UK SMEs expanding into Vietnam
  • UK holding companies with Vietnamese subsidiaries

Legal requirements

Vietnamese Accounting System (VAS)

Vietnam entities must maintain books under VAS and file statutory financial statements in Vietnamese.

UK-Vietnam tax treaty

Reduces withholding on dividends to 0% (with conditions), on interest to 10%, and on royalties to 5–10%.

Group reporting

UK parents typically expect monthly management accounts in GBP, quarterly consolidation, and the annual audit.

Pricing

Indicative fees

ItemFee
UK client monthly compliancefrom USD 1,500 / month
GBP reporting and consolidationfrom USD 1,000 / month

Fees are indicative and depend on transaction volume, complexity, and reporting requirements. Request a tailored proposal.

Timeline

Typical engagement timeline

Phase 1 · Week 1–4

Setup

Vietnam entity setup, group chart of accounts, GBP reporting framework.

Phase 2 · From month 2

Steady state

Monthly close, group reporting, treaty-claim documentation, audit support.

Watch out

Common mistakes we help you avoid

  • 01Not obtaining the HMRC Certificate of Residence before treaty claims
  • 02Missing the VAS-to-FRS 102 / IFRS reconciliation
  • 03Failing to align the TP documentation with HMRC expectations
  • 04Not tracking the GBP/VND FX exposure in the management accounts
Why us

What you get

Treaty expertise

We obtain the HMRC CoR, prepare the treaty-claim documentation, and apply the reduced rates.

GBP reporting

Monthly management accounts in GBP, with the FX gain/loss reconciled to the parent's reporting framework.

HMRC-aligned documentation

TP documentation aligned with HMRC expectations and OECD BEPS.

FAQ

Frequently asked questions

What is the typical Vietnam setup for a UK company?
UK companies typically set up a sales subsidiary or a representative office. The subsidiary is 100%-foreign-owned. UK companies often use Vietnam as a low-cost engineering or manufacturing hub for APAC.
How is the UK-Vietnam tax treaty applied?
The UK-Vietnam DTA reduces withholding tax on dividends to 0% (where the parent holds a qualifying stake), on interest to 10%, and on royalties to 5–10%. The UK parent must obtain a Certificate of Residence from HMRC and submit it for treaty claims.
What is the typical engagement model for a UK client?
UK clients expect English-language reporting, HMRC-compliant transfer pricing documentation, and consolidation to the UK group's reporting calendar. We provide monthly management accounts, quarterly compliance, and the annual audit liaison.
What is the typical UK reporting framework?
UK parents expect reporting under FRS 102 or IFRS. We prepare the Vietnam financial statements in VAS and reconcile to the UK group's reporting framework. Differences in revenue recognition, lease accounting, and deferred tax are reconciled in a quarterly package.
Get Started

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Free 30-minute consultation. We'll review your situation and outline a fixed-fee engagement.

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