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Welcome to BAB's Trade & Investment Update for August 2019. We hope you've had an enjoyable summer and looking forward to our Autumn/Winter events programme which we've been working away at over the past few months. Be sure to check back regularly on our Events page , or keep your eyes peeled at the bottom of these updates to see what's coming up.

This month we're featuring an article from our friends at Irwin Mitchell, partners in our latest Finding Your Way: The Trade & Investment Guide to the UK , you can read an extract below. We've also got some news from the trade & investment space, including the USA taking over Germany as the UK's top import market for the first time since the early 2000s.

Take a look also at our 'Job Opportunity' section for an exciting role at the Department for International Trade in Washington DC - applications close on the 8 September so get them in quick!

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Finding Your Way: The Trade and Investment Guide to the UK 2019/20
Tax & Accountancy
The Following Insight is an Extract from the Tax & Accountancy Section of Finding Your Way: The Trade and Investment Guide to the UK 2019/20 - Provided by Blick Rothenberg (Pages 20-21)

Incentives

R&D – R&D tax incentives are available to companies undertaking innovative scientific or technological research work. Under the SME regime companies can claim a deduction of 230% of qualifying R&D expenditure or claim a cash credit if loss making. Large companies are eligible to claim an R&D Expenditure Credit, which provides tax relief equal to 9.72% of qualifying R&D spend.

Patent Box – Development work undertaken in the UK leading to a qualifying patent may allow a company to benefit from the UK Patent Box regime and elect to apply a 10% Corporation Tax rate to profits attributable to qualifying patents.

IP Amortization – The UK has an established tax regime associated with the taxation of intellectual property. In some cases tax deductions for amortization of certain acquired intangible assets are available.

Share Incentive Plans – Share incentive arrangements, including tax efficient HMRC approved schemes, can be implemented as part of an individual’s total remuneration package.

Expats – Reliefs are potentially available for expats on secondment to the UK business and should be considered in advance of employees moving internationally.
If you would like a physical copy of this publication, please contact Dominic Parker dparker@babinc.org
In Proud Partnership with:
This publication has been produced by BritishAmerican Business in close consultation
with member companies of the BAB POLICY GROUP. Recommendations made in the
publication do not necessarily reflect the official policy of an individual organization
Trade & Investment News
USA Overtakes Germany as UK's Largest Source of Imports

The United States has overtaken Germany as the largest import market for Britain for the first time since the early 2000s, the UK government has announced.

Imports from the United States increased by 14% to 78.27 billion pounds ($94.43 billion) in the year to April, the Department for Trade said, while imports from Germany fell by 0.1% to 78.26 billion pounds.

This news comes as the Secretary of State for International Trade, Liz Truss MP has made a UK-US Free Trade Agreement the top of her priority list for post-Brexit trade deals.

Read the article in full here (Reuters)
Guidance: Sell online with DIT's E-Exporting Programme
The Department for International Trade's (DIT's) E-Exporting Programme helps UK retailers and brands export their products overseas via e-commerce.

Why Sell Online?
Opportunities for online sales are huge and growing. By selling online UK companies can:

  • find new customers in overseas markets
  • do business 24/7
  • build brand awareness
  • access new markets in a low cost way
  • monitor real time sales and use data to make informed business decisions

Why join DIT’s E-Exporting Programme
The programme enables you to:

  • arrange a free meeting through your local DIT office to get expert international trade advice and support
  • meet a DIT e-commerce adviser where relevant to help develop and implement an international e-commerce strategy
  • set up on marketplaces and identify new marketplaces around the world to sell through with the Selling Online Overseas’ tool
  • access better than commercial rates to list on some marketplaces, including lower commission fees and ‘try for free’ periods

For more information click here.
UK-USA Foreign Direct Investment Fact Sheet - SelectUSA

Our friends at SelectUSA have released this handy fact sheet showing the UK FDI position in the USA including facts such as the amount of jobs directly supported by UK investment, the top 6 industry sectors for UK transatlantic investment and the total position and flow of UK FDI in the USA and vice-versa.

Check out the factsheet here.
Find out more about SelectUSA.
Job Opportunity
New Vacancy at the Department for International Trade (Washington DC): Head of Trade & Investment
Submission Deadline: 8 September 2019

The Head of Trade and Investment in Washington DC will lead a dynamic and effective team of 11 trade and investment professionals, responsible for promoting UK exports and increasing inward investment to the UK across Maryland, Delaware, District of Columbia, Virginia and West Virginia, and for certain sectors in North and South Carolina.

The Head of Trade and Investment will also lead on collaboration with other departments in the British Embassy, in particular the Global Economic Policy Group and the Defence Sales Team of the British Defence Staff.

More information here
Upcoming Events
BAB Accelerate Roundtable Dinner with Robin Daniels, CMO, WeWork
2 October 2019, New York

Join BritishAmerican Business (BAB) on Wednesday, 2 October for our first fall BAB Accelerate dinner featuring guest speaker Robin Daniels, Chief Marketing Officer (CMO) of WeWork/The We Company. 

Robin is tasked with implementing all brand and go-to-market initiatives to bring his firm’s vision – Creating a world where people work to make a life, not just a living – to life across all channels.


2 October | 6:00 – 8:00 PM
Harvard Club (NYC) | 35 W. 44th St.
Event fee $150 *All tickets are nonrefundable*
BAB Accelerate Roundtable Dinner with Cemal Ezel, Change Please
14 October 2019, London

Join us on 14 October for the next installment in our BAB Accelerate Roundtable Series where we'll be joined by Change Please  Founder, Cemal Ezel, who will tell us all about the realities (and pitfalls) of expanding and transforming business across the Atlantic – logistics, staffing, legislation, financial etc.

Discussion will once again be moderated by Alex Chisnall, host of the excellent Screw it, Just Do it podcast , where he chats with today's most successful entrepreneurs, as well as the most exciting startups trying to emulate them.


14 October | 4:00 – 7:00 PM
Deloitte, 1 New Street Square, EC4A 3HQ
Attendance Complimentary
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