UK/US Tax Issues for Business - Live At Your Desk

Introduction

In 2022, the United States was the destination for 20.6% of UK exports of goods and services, more than three times as big as the second biggest market. It is therefore understandable that UK business would have a keen interest in understanding expansion into the US. Likewise, for US companies looking to expand to Europe, the UK is often the first country to explore given favourable trade arrangements and a common language. In exploring expansion, the tax landscape of each country and the interaction of those systems will play a critical role in ensuring that the investment achieves the desired return, as poor structuring could result in a combined tax rate that may not result in meaningful after-tax profits.

This virtual classroom session will outline the typical tax areas to consider for US or UK business’ looking to expand into the UK or the US and consider in more detail recent legislative changes and some common pitfalls.

While some UK tax concepts will be discussed in terms of the interaction of those provisions with the US system, the session will primarily focus on US tax.

What You Will Learn

This live and interactive session will cover the following:

• Set Up: The key matters to consider when looking to expand for the first time, including:
• Expansion models
• Transfer pricing
• The types of entities
• Check-the-box regime
• Areas of Tax Risk: The key tax risks and rules to be mindful of, including:
• Anti-hybrid
• The issue with LLCs
• US Outbound
• GILTI
• Subpart F
• FDII
• UK Outbound
• Withholding taxes
• Double tax relief
• The US/UK tax treaty
• ECI
• Branch profits tax
• Starting a Business
• Compliance requirements and deadlines
• Transferring employees and directors
• Board meetings
• Sales tax and VAT

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.