The UK is a low tax economy with several key advantages for businesses and individuals, including:

• 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.

Source UKTI July 2009

The Patent Box tax

In 2009 the Government announced that it will reduce corporate tax from 28% and introduce a new 10% tax rate for income from products which are derived from UK patents.

The Patent Box tax will apply from April 2013. Consultation is expected to be completed in time for Finance Bill 2011 and the legislation will apply to Patents granted after the legislation is passed.

For further information please contact www.hmrc.gov.uk.

For more information on tax in the UK visit UK Trade & Investment

Regulation Reform

The UK business environment is consistently recognised as being amongst the best in the world.

The Government attaches particular importance to better regulation and is committed to reducing the burden of regulation on business by 25% by 2010.

The Department for Business Enterprise & Regulatory Reform (BERR), through the Better Regulation Executive, leads on better regulation across Government. Reviews and evaluation of legislation are of key importance to the Department in developing policy and legislation.

UK Trade & Investment's role is a proactive one of facilitating overseas investment in the UK and enabling domestic business to expand confidently overseas. As the UK Government's international business development organisation, we help companies internationalise. Our services bring together a network of business sector specialists and support teams in British Embassies and posts all around the world.

For more information visit UK Trade & Investment website.