Guide: Doing Business in the UK

The United Kingdom is a leading business location and boasts the major attraction of London, one of the world’s leading financial centres. As Europe’s leading destination for new foreign direct investment projects, the UK is a rich and diverse market in which many businesses choose to set up.

Companies can be established within 24 hours in the UK and it is easy to see why so many choose to locate here. With extensive travel links, including the second-largest ports industry and the largest air transport system in Europe, the UK offers close proximity and easy access to customers, suppliers and partners.

The UK not only has a competitive tax system, but also the joint-lowest corporate tax levels in the G20, making it a simple and straightforward country in which to do business. According to the Organisation for Economic Co-operation and Development (OECD), the UK is ranked among the top 10 countries with the most highly educated population. In addition, the UK is home to some of the best universities in the world. This presents a diverse and innovative pool of talent for businesses to choose from in order to grow and develop.

As well as providing customs and tax benefits, the UK government offers planning, infrastructure, and innovation assistance through freeports. Eight UK freeports have been established in key strategic areas: East Midlands, East (Felixstowe and Harwich), Humber, Liverpool City Region, Plymouth and South Devon, Solent, Thames, and Teesside.

Top sectors driving UK investment growth 2022

Source: EY European Investment Monitor (EIM), 2022

At the heart of business in the UK is London, a distinguished global business hub and the most attractive European city for foreign investors. The city offers a business friendly environment with valuable office hours which coincide with countries that together produce 99% of the world’s GDP. Although London is a booming location for business, there are many other cities around the UK which serve as an excellent base for setting up business including Newcastle, Birmingham, Glasgow and Edinburgh.

While the law in the UK differs significantly from other jurisdictions, it is internationally recognised for its flexibility, stability and transparency of outcome. In combination with high-quality practitioners with international expertise, English law is now the most popular choice of law in the world for commercial contracts and it governs about 40% of all global corporate arbitrations.

It is important to note that the UK is comprised of different legal jurisdictions and although there are many similarities, there are different legal and regulatory compliance requirements across Scotland, England, Wales and Northern Ireland. This guide looks at the UK as a whole (not each jurisdiction individually) and unless otherwise stated, covers the requirements in England. For anyone setting up a business operating UK wide, it is important to ensure full compliance across each region.

This guide is aimed at businesses who are looking to expand or invest into the UK. At Burness Paull we are passionate about helping businesses to invest in the UK and we can guide you through the legal and regulatory landscape to make sure your business has the best possible start.

Download your guide here.