Published: 11 March 2021
I read this morning that Britain is a more attractive investment proposition for multinational companies than it was before Brexit, a survey of 5,000 global business leaders has found.
The UK has overtaken India as the world’s fourth most promising growth opportunity, according to PwC’s annual CEO Survey. America, China and Germany remained the top three.
There was caution mentioned over the proposed increase in corporation tax from 19% to 25%
At CBSL Accountants we act for a lot of international clients. In the last week alone, we have spoken with directors in Austria, the US, Italy Denmark and Norway.
Whilst the direction of travel in headline rates is upwards, it is important to note that only the very largest companies are going to be hit with the top rate of 25%.
Moreover, the Annual Investment Allowance of £1m and the Super Deduction of 130% are a strong incentive for investment in the UK, and clients that we have had meetings with in the last week are actually diverting investment to the UK by way of capital expenditure and in one case a new subsidiary in England.
PWC may have a larger sample size on which to base their conclusion… but I am pleased to see the note of caution is not playing out in our client base.