The UK has excellent telecommunications, extensive rail and road networks, including high-speed rail links to Europe via the Channel Tunnel, and a number of airports, with London Heathrow said to be the world busiest in terms of passenger numbers.
The UK has well-developed trust law, with distinct tax advantages, especially in relation to inheritance tax.
Corporation tax is charged at a rate of 24% from 2012 (26% in 2011), although a lower rate of 20% applies to taxable profits of up to GBP300,000; this lower rate was 21% prior to April 2011. Marginal rate relief may apply where taxable profit falls between GBP300,000 and GBP1.5m, which can reduce the company corporation tax liability. Another reduced corporation tax rate of 10% applies from April 2010 to profits derived from UK patents.
From April 6, 2010, the top rate of personal income tax is 50% on income of over GBP150,000. Capital gains are taxed at 18%, subject to an annual exemption of GBP10,600 for the 2011/12 tax year (GBP10,100 previously).
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COUNTRY:
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UNITED KINGDOM
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Region:
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Europe
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Currency:
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Pound Sterling (GBP) (£)
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Languages:
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English
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Time Zone:
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UTC 0 |
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Phone Code:
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+44
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Communications:
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Very Good
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Formation Cost:
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200 - 600 USD$
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Formation Time:
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1 day
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Maintenance cost:
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100 - 300 USD$
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Suitable for:
- Insurance,
- Shipping,
- Yachting,
- Trading Financial,
- E-commerce
Vehicle Types:
- Limited companies,
- public limited companies,
- limited partnerships,
- limited liability partnerships,
- sole proprietorships,
- branches and specialist companies
Capital primary business districts:
London
Good Relationships:
Australia, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, India, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United States
Bad Relationships:
Iran, Korea (Democratic People's Republic of), Somalia, Syria
Tax Burden - Business:
Heavy
Tax Burden - Individual:
Very Heavy
Headline tax rates:
CIT 20-25%, PIT 20-50%, VAT 20%
Treaty Jurisdictions:
Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Bolivia, Bosnia-Herzegovina, Botswana, Brunei, British Virgin Islands, Bulgaria, Burma (Myanmar), Canada, Cayman Islands, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Falkland Islands, Faroe Islands, Fiji, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guyana, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Korea, Republic of, Kuwait, Latvia, Lesotho, Libya, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malawi, Malaysia, Malta, Mauritius, Mexico, Moldova, Mongolia, Montenegro, Montserrat, Morocco, Namibia, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saint Kitts and Nevis, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United States, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe
TIEA Jurisdictions:
Anguilla, Antigua and Barbuda, Aruba, Bahamas, Belize, Bermuda, Brazil, British Virgin Islands, Curacao, Dominica, Gibraltar, Grenada, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Marshall Islands, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Sint Maarten, Turks and Caicos Islands, Uruguay
