More non-UK companies are incorporating in the UK just for tax purposes. But has Britain gone too far, is it risking getting a reputation as a suspect overseas tax haven? Many US and non-EU corporations are trying to avoid high business taxes in their home nation. So many are using schemes to take advantage of the UK’s attractive low tax schemes, especially for overseas companies. All fine for a small country trying to attract new business or a traditional tax haven. But, the UK’s problem is that its tax system is seen by some as almost discriminatory in favouring overseas companies over UK home ones. So the UK risks self-harming its own business base to attract non-UK companies. But they may just move on to the next tax haven at the first chance, leaving behind a damaged UK home business sector.
Tax Barrister, Accountant