UK falls down European tax rankings

Date: 10th October 2008

The UK is no longer one of Europe's top taxation environments, according to a study published this week.

In an investigation of the tax and legal climates of 27 European countries, the European Private Equity and Venture Capital Association (EVCA) concluded that the UK was no longer one of the three best nations in which to do business.

EVCA's rankings placed France in pole position, closely followed by Ireland and Belgium. The UK was rated best in 2003 and 2004.

Javier Echarri, EVCA secretary general, said: "Several European countries have shown good progress in the past two years, in improving the environment for private equity capital.

"But those countries slipping down the rankings should take this as wake up call that their long-term economic health is in jeopardy."

The data was compiled by taking several factors into account, such as the environment for limited companies and fund management companies, as well as tax and fiscal incentives.

Limited companies have until the end of the month to file their self-assessment tax return with HM Revenue and Customs, unless submitting online, in which they have until January 31st.