setting up a business based on my foreign assets

Hi I am a British citizen and I am trying to set up a start up /my own business with the help of a family friend who will act as an investor and shareholder for my business/company. My family friend is selling his property in iran and is trying to buy goods as his share .He is planning to send the goods to the uk so that we could start selling them on the market and start our business. 1. as a foreign (non-uk) resident, will the goods be considered as assets/shares? 2. once the goods are in the uk, do we need to pay tax for them before selling them or doing business? thanks in advance

To answer your second question. All goods imported into the UK must be declared to customs and pay import duty and import VAT. Vat is usually 20 % unless the goods are zero rated . Import duty will depend on what the goods are. The nature of the declaration needed will depend on the method of shipment . Your company will also need to register as an importer and get its EORI number. You may also need to find a customs clearance agent to help with the customs declaration.

Thanks for this. So does that mean that apart from the custom tax and before we start selling the goods, we dont need to pay any other tax? whenever we sell the goods in the uk do i then need to pay tax on the money i have gained and have put in my bank account? in what cases do i need to pay tax when selling the goods? thanks

Hi 
1. The goods will be considered assets of the business and the cost of them will be considered as part of your expenses.
2.This would likely be VAT and you will need to refer to:
VAT: detailed information
As it cannot be asnwered on this forum as this for personal tax only.
Thank you. 

Hi AHG I suggest that you engage an accountant or advisor who will help with the set up of a business and advise on your business and personal tax position. There are many rules about registration of your business and requirements for separation of your personal and business tax and banking.