Guidance

A guide to UK taxation for overseas businesses

A guide to the key elements of the UK tax system that overseas businesses need to be aware of when setting up in the UK

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The government’s goal is to make the UK the best place in the world to locate an international business, to do this it:

  • has made tax policy simpler, more transparent and therefore better suited to a globalised trading world and to modern business practice
  • is committed to creating the most competitive tax regime in the G20
  • will reduce corporation tax - the current rate is 23% and this will be reduced further to 20% by 2015, which will be the lowest it has ever been in the UK, the lowest in the G7 and joint lowest in the G20
  • has completely changed how overseas profits are taxed, moving from a system of worldwide taxation to a broadly territorial system where the focus is on taxing profits in the UK

The guide to UK taxation provides an overview to overseas businesses on key areas of the UK tax regime and how it benefits those companies looking to expand their businesses to the UK. Information includes:

  • corporate tax
  • other taxes - including income tax, National Insurance, indirect taxes
  • UK incentives for innovation and creativity
  • tax making policy
  • tax administration
  • benefits of investing in the UK