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UK Investment Guide(TANNET GROUP)

UK Investment Guide(TANNET GROUP)

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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain is a sovereign state located off the northwestern coast of continental Europe. It is an island country spanning Great Britain, the northeast part of Ireland, and many small islands.

The UK is a developed country, with the fifth largest economy in the world, the UK has a gross domestic product (GDP) of US$2,345 billion (Source: World Bank, 2007) and is forecast to have the strongest business environment of all major European economies for the period 2007 to 2011 (Source: EIU, 2007).
With a population of 60.6 million (Source: ONS, 2007) and unemployment well below the EU average, the UK has a strong workforce to support the economy.
It is a leading global trading nation, as the second largest exporter and third largest importer of commercial services, and the seventh largest exporter and fourth largest importer of merchandise (Source: World Trade Organization, 2007).

Tax Environment
The UK has a corporate tax rate lower than any other G7 country with a headline rate of 28 per cent (introduced in April 2008). An extensive network of double taxation treaties ensures that overseas businesses coming over here will not have their income taxed twice. Generous tax allowances such as R&D tax credits add to the UK’s attraction for overseas investors.Personal tax rates are also highly competitive and individuals becoming UK residents are entitled to a basic tax-free allowance.

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