For overseas companies setting up in the UK – “red tape” freeze extended

June 12th, 2013 by Paul Beare

Yesterday saw a UK business news article on our website titled ‘Red tape freeze extended‘. It outlines how this would impact British businesses with less than 50 employees. However, I will take this further in context to overseas companies setting up in the UK.

red tape freeze for overseas companies setting up in the ukFrom 2014 potentially qualifying firms will undergo an assessment process to see if they meet the criteria of burdening regulations. UK VAT registration is a common area, which we find just as cumbersome for overseas companies doing business in the UK and the requirements of this. This is compulsorily when the UK turnover reaches £79,000. However in order to obtain registration, this process can be extrapolated due to HM Revenue and Customs conducting extensive checks ensuring the UK operation is bona-fide, and not that of fraudulent activity. Read the rest of this entry »

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June Inward Investment news between UK and USA

June 5th, 2013 by Paul Beare

ECONOMIC INDICATORS

Inward Investment news by country and region

UK

  • Gross Domestic Product (GDP) in volume terms was estimated to have increased by 0.3% in Q1 2013, unrevised from the previously published estimate.
  • Consumer Price Index (CPI) annual inflation was 2.4% in April, down from 2.8% in March.
  • The employment rate for January to March 2013 was 71.4%, down 0.2% from October to December 2012. The unemployment rate for January to March 2013 was 7.8%, up 0.1% from October to December 2012.

London

  •  London’s annual growth in output increased to 0.7% in Q4 2012 from an upwardly revised 0.2% in Q3 2012.
  • London’s annual employment growth was 3.1% in Q4 2012, the same rate as the upwardly revised figure for Q3 2012.
  • Annual house price inflation in London was 3.8% in Q1 2013, up from -1.1% in Q4 2012.

USA

  • Real GDP increased at an annual rate of 2.5% in Q1 2013.
  • In March 2013, personal income increased $30.9 billion, or 0.2%, disposable personal income (DPI) increased $20.7 billion, or 0.2%, and personal consumption expenditures (PCE) increased $21 billion, or 0.2%.
  • The US current account deficit decreased to $110.4 billion, or 2.8% of GDP in Q4 2012, from $112.4 billion or 2.8% of GDP in Q3 2012. For the full year 2012, the current account deficit was $475 billion or 3% of GDP, up from $465.9 billion or 3.1% of GDP in 2011. Read the rest of this entry »

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Doing business in the UK – Google

May 16th, 2013 by Paul Beare

Google is now the latest multi national to hit the world’s media regarding doing business in the UK. It is perfectly legal for a company to organise its tax affairs so that it pays the least amount in the country it does business in – in this case, Google – doing business in the UK. doing business in the uk

It may also be seen to be amoral.

However other large US companies adopt similar practices, generating profits in low tax havens – and keeping them there.

In the US such profits are taxable in the US only when repatriated – that is brought back into the US.

To avoid the tax effect (of paying normal US taxes like domestic corporations) Apple has had to resort to borrowing $48 billion to pay back capital to shareholders (rather than using its own cash it daren’t bring back to the US currently) – using its cash held offshore as security. Read the rest of this entry »

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May Inward Investment news between UK and USA

May 14th, 2013 by Paul Beare

ECONOMIC INDICATORS

Inward Investment news by country and region

UK

  • Gross Domestic Product (GDP) was estimated to have increased by 0.3% in Q1 2013, driven by services sector.
  • The Consumer Prices Index (CPI) grew by 2.8% in March 2013, unchanged from February.
  • Service sector output was estimated to have increased by 2.2% in February 2013, compared with February 2012.

London

  •  London’s annual growth in output decreased to 0.1% in Q3 2012 from an upwardly revised 1.5% in Q2 2012.
  • London’s annual employment growth increased to 3% in Q3 2012 from 2.6% in Q2 2012.
  • Annual house price inflation in London was 4.6% in Q1 2013, up from 0.7% in Q4 2012.

USA

  • Real GDP increased at an annual rate of 2.5% in Q1 2013.
  • In March 2013, personal income increased $30.9 billion, or 0.2%, disposable personal income (DPI) increased $20.7 billion, or 0.2%, and personal consumption expenditures (PCE) increased $21 billion, or 0.2%.
  • The US current account deficit decreased to $110.4 billion, or 2.8% of GDP in Q4 2012, from $112.4 billion or 2.8% of GDP in Q3 2012. For the full year 2012, the current account deficit was $475 billion or 3% of GDP, up from $465.9 billion or 3.1% of GDP in 2011. Read the rest of this entry »

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