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UK 'is a leading nation on competitive tax'

The UK has topped a list of the best countries in which to do business for the first time ever.

This was in a survey compiled by KPMG - and it brings the UK ahead of the likes of Switzerland, France and the US.

Senior tax professionals from some of the largest firms in the country picked the UK over all other nations when asked where the most favourable tax regime was to be found in the world.

In the same report, it was also established that over three-quarters of executives emphasised the fact that tax competitiveness was a major influence on their decision as to where locate their operations.

This would appear to suggest that more and more businessmen are likely to be transferring money from abroad in order to invest in the UK.

The UK economy could also be set to benefit from further positive news in the near future, as a forecast paper on the nation's growth prospects for the next 12 months was recently published by the National Institute Economic Review.

It acknowledged that the nation saw zero growth in 2012, but predicted that the measure will expand to 0.7 per cent in 2013. Further growth to 1.5 per cent is also predicted to be enjoyed going into 2014.

Chancellor of the exchequer George Osborne said that the coalition government had made a commitment to create the most competitive corporate tax system in the G20.

"Within just two-and-a-half years, this report shows that is what the world's leading companies now think we have," he commented.

"These companies can choose to invest and create jobs anywhere, but are increasingly choosing Britain and showing that Britain can compete in the global race," Mr Osborne continued, adding: "It is a remarkable turnaround - and a tribute to the steps we have taken in Budgets this parliament."

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