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An English-language webinar from the ITU Global Talks series took place, organised by the IT Ukraine Association in cooperation with ITU Partner Asters. The topic of the meeting was “Insights into expanding operations in the UK.”
The speakers shared their experiences:
Among the information shared:
The UK is known for its business-friendly environment, offering various government incentives such as tax relief on research and development, employee share schemes, and EIS relief for investors. The corporate tax rate is competitive within Europe, with incentives for businesses looking to expand and scale.
The UK has a mature and transparent legal system, which is reassuring for international businesses. It ranks 20th globally in terms of corruption perception and has strong laws related to anti-bribery, anti-corruption, and intellectual property.
The UK supports the tech industry through initiatives like the Digital Development Strategy 2024-2030, focusing on digital infrastructure and innovation. The government has also made significant investments in AI, fintech, cybersecurity, and other emerging technologies.
The UK is positioning itself as a hub for IT businesses, particularly post-Brexit. It offers tax relief for companies involved in research and development, with up to 230% tax credits available for qualifying R&D expenses.
The UK follows a similar approach to the EU’s GDPR, with a UK-specific data protection law that came into force in 2018. New laws are also being introduced, such as the Data Use and Access Bill, which will impact how data is shared and protected.
The UK is aiming to become the leading global destination for AI firms, with plans to build AI growth zones, expand public compute capacity, and create a national data library. The government’s AI action plan aims to strengthen the country’s position in the AI sector.
The UK offers various tax relief schemes, such as the Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS), to encourage investment in startups. These schemes offer significant tax breaks to investors, boosting funding opportunities for early-stage companies.
The UK remains a global financial hub with strong access to institutional investors, venture capital, and other funding opportunities. The country offers a competitive environment for businesses looking to raise funds and scale operations.
The UK is seen as a desirable destination for Ukrainian businesses expanding internationally. The legal and regulatory framework, combined with incentives for innovation and R&D, makes it a strategic location for growth in the tech and IT sectors.
Post-Brexit, the UK government has streamlined its regulatory framework, allowing tech businesses to operate more flexibly. Initiatives like the Digital Regulation Corporation Forum and the Office of Artificial Intelligence ensure that the regulatory environment adapts quickly to new innovations in the tech industry.
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