Setting up an SPV in the UK: A Step-by-Step Guide for 2024

Setting up an SPV in the UK: A Comprehensive Guide for 2024

When embarking on a real estate investment journey or other financial venture, many investors choose to set up a Special Purpose Vehicle (SPV) in the UK. Understanding the nuances and intricacies of creating and maintaining an SPV can be challenging, especially with constantly changing regulations and deadlines. In this blog post, we’ll guide you through the process of setting up an SPV in 2024, providing you with practical advice, key dates, and frequently asked questions.

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Special Offer: Free Incorporation

To help you get started with your SPV journey, GM Professional Accountants is offering free incorporation when you take out one of their comprehensive packages. Get expert advice on tax planning, compliance, and bookkeeping to ensure your SPV operates smoothly and efficiently.

What Is an SPV?

A Special Purpose Vehicle (SPV) is a subsidiary company created to isolate financial risk. Often used for property investment, an SPV allows individuals to manage specific projects or investments separately from their main business. This structure is particularly beneficial for limiting liability and improving tax efficiency.

Why Choose an SPV?

SPVs offer several advantages, including:

  • Asset Protection: Separate assets and liabilities from the parent company.
  • Tax Efficiency: Streamlined tax advantages specific to the investment.
  • Project Focus: Tailored for a specific project with clear financial goals.

By leveraging the benefits of an SPV, investors can efficiently manage property investments, streamline tax liabilities, and mitigate risks.

Steps to Setting up an SPV in the UK

1. Choose Your Company Structure

Before registering your SPV, it’s crucial to decide the company structure. The most common structure for SPVs is a private limited company (Ltd), but other structures, such as Limited Liability Partnerships (LLP), might be more suitable depending on your goals.

2. Register Your SPV


  • Companies House: Register your SPV with Companies House. You’ll need a unique company name and details of shareholders and directors.
  • Incorporation: File the required documents, including a Memorandum of Association and Articles of Association.

3. Open a Business Bank Account

A dedicated business bank account is essential for separating your SPV’s finances from other investments. Ensure that the account meets your SPV’s requirements for managing funds effectively.

4. Register for Taxes

Once registered with Companies House, you must register your SPV for relevant taxes, including Corporation Tax. For tax advice and filing support, consult GM Professional Accountants, an accounting firm that specialises in SPVs and tax services.

5. Maintain Compliance

Your SPV must remain compliant with UK regulations by:

  • Filing Annual Accounts: Submit your company accounts annually to Companies House.
  • Paying Corporation Tax: File your company tax return with HMRC.
  • Annual Confirmation Statement: Confirm key details annually to Companies House.

Important Filing Dates for 2024

  • Corporation Tax Deadline: Within 12 months of your accounting year-end.
  • Annual Accounts Filing Deadline: Typically 9 months after your accounting year-end.

Make sure to consult HMRC’s filing deadlines for the latest information.

Frequently Asked Questions

Q: Do I need an accountant to set up an SPV?

A: While it’s possible to set up an SPV independently, working with an accountant like GM Professional Accountants ensures you’re fully compliant and makes the process smoother.

Q: What are the ongoing costs of maintaining an SPV?

A: Ongoing costs include filing fees for annual accounts and tax returns. Consult a professional for precise figures based on your situation.

Q: Can I use an SPV for investments other than property?

A: Yes, SPVs can be used for various investments such as joint ventures, financing, and securitisation.


Setting up an SPV in the UK requires careful planning and compliance with regulatory requirements. By following the steps outlined in this guide and consulting expert accountants like GM Professional Accountants, you can efficiently set up your SPV in 2024 and manage your investments with confidence.

If you have any questions about setting up an SPV or need personalised advice, don’t hesitate to contact GM Professional Accountants today!

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