Rishi Sunak set to increase UK corporation tax from 19% to 23%

[Roamer]

Rishi Sunak will announce much-anticipated plans to increase corporation tax in the Budget next month, in a bid to repair the UK's pandemic-hit economy.

The Chancellor is not expected to immediately rise the tax on March 3, but instead increase it by 1 percentage point in the autumn, taking it to 23pc over the parliament, reported The Times.
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Intense. Some may say expected. Yet, is it the straw that will break your camel's back?

 

[Fothermucker]

Bad news for anyone opening a UK Ltd. 19% was bad enough. 23%..f**k..no thanx

 

[LondonOTC]

They told us that thanks to Brexit they can lower the corporate tax to just‌ 17%. Seems they lied again

 

[danilointer]

Oh... I was planing to incorporate my new company there, better I will choose another‌ jurisdction..

 

[espresso]

not the best way to stop companies moving to The Netherlands 🙂

 

[LondonOTC]

Better move to Gibraltar / Jersey

 

[espresso]

indeed

 

[Roamer]

How do you deal‌ with central management and control? Or you mean move both the company and yourself to‍ these jurisdictions?

 

[hdloader11]

I've realized that as long as you aren't a citizen or a resident, US is‌ the best place to incorporate. No taxes for foreign owned LLCs that don't do business‍ in the US, access to trustworthy high street banks and payment processors, and it is⁠ also very hard for your home country to find you if you set up your⁤ structures correctly.

 

[manukahoney]

You are not wrong. The only thing a⁣ lot of people forget - US is a litigious nation with very expensive lawyers. So⁢ if you don't have customers in the US or happy to accept the risk of︀ being sued for no reason - US is a great choice.