CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. UK Now More Attractive As A Business Location

UK Now More Attractive As A Business Location

by Robert Lee,, London

16 March 2016

Tax policies introduced between 2010 and 2015 have made the UK a more attractive location for businesses, according to a new survey by professional services firm KPMG.

KPMG has published a report that assesses the UK's relative competitiveness in 2015 in comparison with its international peers. The findings are based on a survey of 102 senior decision makers in the UK's largest businesses, and of 65 companies from across India, China, Japan, Australia, Canada, and the US. This is the 10th year KMPG has carried out such analysis.

According to KPMG, "Ireland retains its place as the most competitive tax regime in 2015 compared to other European countries generally held to have business-friendly tax systems, but the UK has closed the gap considerably this year and is now seen as much more competitive than its European peers generally viewed as having attractive tax regimes."

Robin Walduck, Tax Partner at KPMG in the UK, explained: "When we first published this survey a decade ago the attractiveness of the UK's tax regime was in question as a number of high-profile companies had announced plans to relocate business activities out of the UK. The dial has moved since then with the number of companies looking to relocate falling sharply. Now, the UK is generally seen as an attractive place to live, work, and do business and has shown a renewed ability to attract and retain some of the world's most valuable companies."

He added: "It's clear that the package of tax policies introduced over the past five years has resonated with companies and has also elevated the UK's tax regime to a position where it credibly competes with the regimes of other major international economies. This new strength and stability should bolster the UK's ability to both retain business functions and attract international companies to relocate into the UK. However, the sentiment among senior tax executives overall is that the UK should focus on sustaining and building upon recent improvements to the tax regime, rather than pursuing any major reforms."

Among those surveyed, "stability" was identified as the key factor for companies when considering the attractiveness of a country's tax regime. "Advance warning of major changes" was ranked second, and "simplicity" third. A "low effective tax rate" has been ranked in fourth place for three years in a row.

TAGS: tax | business | India | Ireland | tax incentives | corporation tax | Australia | China | United Kingdom | tax rates | Canada | United States | tax reform | Japan | services

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »