AGN Live Country Guides

Doing Business in United Kingdom

Published in July 2017

England, Scotland and Wales (Great Britain) together with Northern Ireland comprise the United Kingdom (UK).

The UK's economy is the fifth largest economy in the world and the second largest in the European Union (EU). The country is a globally important influencer, being one of the five permanent members of the UN Security Council, a founding member of NATO and of the Commonwealth, and a member of the G7 and G20 economic forums. The country pursues a global approach to foreign policy. The UK held a referendum on its continued membership of the EU in June 2106, following which on 29 March 2017 it notified the European Council of its intention to withdraw.

The UK had an estimated 65.11 million people in 2016, with $2.79 trillion GDP (2016) and growth of 1.8%. The inflation rate is currently around 2.7% and nominal GDP per capita is $43,902 (2016 est.). The currency is the Great Britain Pound, GBP.

In 2015 the United Kingdom was the 9th largest export economy in the world and the 11th most complex economy according to the Economic Complexity Index (ECI). The top UK exports in 2015 were gold, cars, packaged medicines, gas turbines and refined petroleum.

The UK is the largest market in the world for U.S. service exports. Major categories of US exports to the UK are aerospace products, agricultural products, biomass, cyber security, medical equipment, new build civil nuclear, certain consumer goods such as pet products, smart grids, sustainable construction, travel and tourism. The proposed US-EU Transatlantic Trade and Investment Partnership (TTIP) has the potential to cut tariffs and address market barriers, thus creating additional opportunities for US-UK trade.

This portal incorporates live data feeds from:

The Organisation for Economic Cooperation and Development (OECD)
The World Bank
The observatory of Economic Complexity

The intention is to provide access to live information extracted from the regularly refreshed databases maintained by these organisations.

 

 

 

Use the navigation buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

OECD Country Comparison Portal

The window below is a direct feed of regularly updated information from the OECD. It provides data concerning everything from GDP growth, fiscal balance, investment, and unemployment rates to consumption, import volume and export volume. The window allows comparisons between UK and other countries of the OECD average for these factors.

Inflation (CPI)

Total, Annual growth rate (%)

World Bank Development Indicators

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from UK.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into UK.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from UK.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

Business Opportunities in the UK:

THE ‘MACRON EFFECT’ MAKING FRANCE AN ATTRACTIVE PLACE FOR FOREIGN DIRECT INVESTMENT     (May 2018)

Emmanuel Macron took office as the President of France on 14 May 2017, becoming the youngest president in French history and youngest head of state since Napoleon. His victory was based on a manifesto of significant social and economic reform. As his program has started to take effect, Macron has been hailed as having re-launched the French economy as an attractive destination for foreign direct investment – the so called “Macron Effect”.

find the firm best prepared to serve you

NOWS THE TIME TO REVIEW YOUR FOREIGN CURRENCY LOAN     (July 2017)

Foreign Currency Loans became very popular a few years ago. Depending on the currency they potentially offered consumers and companies low interest rates, at attractive exchange rates. But recent experience has shown they can become a problem where they have been sold to consumers and small firms that may not be familiar with the potential pitfalls of such sudden changes in exchange rates. Many legacy loans are still active and still causing problems.

There are professional ways to hand foreign currency loans through Managed Currency Mortgages. A successful currency manager will move the borrower's debt into a currency which subsequently falls in value against the base currency.

For more information about how to hand foreign currency loans through Managed Currency Mortgages, contact an AGN member that can help you.


IRELAND OFFERS GREAT R&D TAX RELIEF     (March 2017)

The Knowledge Development Box in Ireland – 6.25% Corporate Tax Rate.    

The Knowledge Development Box (KDB) in Ireland provides for a 6.25% tax rate on profits derived from patented or other protected inventions and certain copyright software.

For more information about how to take advantage of this opportunity, contact the AGN firm best prepared to help you.


Tax Publications


The AGN European Region produces annual tax brochures that compare taxes among European countries. Interesting comparisons from year to year give insight into trends.

These surveys are available by report type and year.

Learn more
 

The AGN European Region produces annual tax brochures that compare taxes among European countries. Interesting comparisons from year to year give insight into trends.

These surveys are available by report type and year.

Learn more
 

AGN News in Europe:

December 2018

ICT-Security Conference 2018 in Alpbach, Austria


Multicont and CRC were exhibitors at the largest security conference in the German-speaking region.

read full article to learn more
 

November 2018

Swiss Corporate Tax Reform (TRAF)


On 28 September 2018, the Swiss Federal Parliament adopted the tax reform known as Tax Proposal 17 (TP 17) or Federal Act on Tax Reform and AHV Financing (TRAF). Amongst others, the aim of this tax reform is to guarantee the international acceptance of Swiss corporate taxation and thus the tax reform includes the abolition of cantonal tax privileges for holding, domicile and mixed companies. However, the tax reform also contains various measures, which ensure the tax attractiveness of Switzerland as a business location.

read more
 

AGN Firms in the country


United Kingdom
Chiene + Tait LLP
61 Dublin Street
Edinburgh Scotland EH3 6NL
Time Zone: GMT
Phone: (+44) 13 1558 5800
EMail: jeremy.chittleburgh@chiene.co.uk
Chiene + Tait LLP
3rd Floor
126 West Regent Street
Glasgow Scotland G2 2RQ
Time Zone:
Phone: (+44) 14 1222 5980
EMail: jeremy.chittleburgh@chiene.co.uk
Contact Partner: Jeremy Chittleburgh
Chiene + Tait LLP
Clark Thomson House
Fairways Business Park
Inverness Scotland IV2 6AA
Time Zone:
Phone: (+44) 14 6322 7490
EMail: jeremy.chittleburgh@chiene.co.uk
Chiene + Tait LLP
15 Old Bailey
London EC4M 7EF
Time Zone:
Phone: (+44) 20 3178 6825
EMail: carol.flockhart@chiene.co.uk
Dafferns LLP
One Eastwood
Coventry CV3 2UB
Time Zone:
Phone: (+44 024) 7622 1046
EMail: Andy.Bewick@dafferns.com
Contact Partner: Andy Bewick
Hazlems Fenton
Palladium House
1-4 Argyll Street
London W1F 7LD
Time Zone: GMT
Phone: (+44 20)7437 76 66
EMail: russelltenzer@hazlemsfenton.com
Meaden & Moore, LLP
Lloyds Avenue House
6 lloyds Avenue
London EC3N 3AX
Time Zone: GMT
Phone: +44 (0) 20 7680 1131
EMail: meadenmoore@meadenmoore.com
Shipleys LLP
10 Orange Street
Haymarket
London WC2H 7DQ
Time Zone:
Phone: (+44 20) 7312 0000
EMail: advice@shipleys.com
SHIPLEYS LLP - Godalming
3 Godalming Business Centre
Woolsack Way
Godalming GU7 1XW
Time Zone:
Phone: (+44 1483) 423 607
EMail: godalming@shipleys.com