Taxation

The overall tax burden in Northern Ireland is the lowest of the all the major European economies. The UK remains the lowest taxed large economy in the EU with:

• low personal taxation
• low social welfare contributions
• generous tax allowances
• no local taxes on profits or surplus

As part of the UK, Northern Ireland benefits from one of the most open and business-friendly fiscal structures in Europe. Investors benefit from a myriad of tax incentives to encourage further development.

Tax benefits to investors

• Corporation tax (30 per cent) and personal tax (40 per cent higher rate) are among the lowest in Europe.
• The overall tax burden is the lowest of the major European economies.
• Businesses with fewer than 250 employees can claim a tax deduction of 150 per cent on R&D expenditure – this significant incentive was recently introduced by the UK Government to encourage investment and innovation.