The UK is one of the world’s leading business locations, based on the World Bank Doing Business 2020 report, where it ranked 8th for “ease of doing business”. It also ranks 53rd in TMF Group’s Global Business Complexity Index 2021 – which covers 77 jurisdictions according to the complexity of their business environments – an improvement from 44th in 2020.
Corporation tax is the joint lowest in the G20 at 19 per cent, which is further reduced by up to 100 per cent for work related to R&D, and tax on patents is just 10 per cent. From 1 April 2023, the main rate of corporation tax is set to rise to 25 per cent.
Despite the obvious appeal, companies can find complicated and disparate laws, tax brackets, and other bits of UK red tape rather challenging, particularly with the additional requirement of navigating the potential implications of Brexit.
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SYNERGY3 has the local knowledge to help you identify and face any challenge or opportunity for your business. Whether you want to set up in the UK or just want to streamline your UK operations, we can help.
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