Scotland – A Great Place To Do Business
Scots are noted for their modesty, so much so that for many, doing business in Scotland remains a very well kept secret. Who knew that Scotland was a great place to take advantage of attractive tax reliefs?
Currently, Scotland adopts a competitive rate of corporation tax of 19%, which is scheduled to drop further to 17% on profits earned on or after 1 April 2020. At the time of writing, the two Conservative leadership candidates, Boris Johnson and Jeremy Hunt, have both pledged to cut corporation tax further still with rates of 12.5% being bandied about.
Corporation tax is set by the UK government, but what makes Scotland extra special as a place to trade are the number of non tax matters such as:
- Availability of skilled labour,
- High quality commercial property,
- An excellent healthcare system,
- Enhanced levels of grant funding for new entrants and those promoting growth,
- And, of course, the wonderful people of Scotland.
Scotland has a lot to offer international businesses and we should be promoting that fact.
If you would like to discuss doing business in Scotland, please contact our International Taxperts.