Among all the Brexit headlines, there is great deal about doing business in the UK we take for granted:-
- The UK has the lowest corporation tax rate at 20% of any of G20 countries, that’s half that of the USA and 50% of that in Germany.
- The UK is global centre of knowledge generation producing 6.4% of all global scientific papers and 16% of the world most highly cited articles from <1% of the world’s population.
- We have the most flexible labour market in the EU and some of the lowest social security contributions, at 13.8% one third of the rate in France.
- The UK has some of the world most generous early stage investor tax breaks with investors getting income tax relief on investment and any losses and paying no capital gains or inheritance tax on qualifying investments.
- R&D tax credits in UK can almost half the cost of development expenditure and patent box means UK companies can pay only 10% tax on products incorporating patented innovation.
- The UK remains the 6th easiest place to do business in the world.