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Written question asked by James McMurdock (Independent (affiliation)) on Friday, 10 April 2026, in the House of Commons. It was due for an answer on Tuesday, 14 April 2026. It was answered by Blair McDougall (Labour) on Thursday, 16 April 2026 on behalf of the Department for Business and Trade.

Foreign Companies

Question

To ask the Secretary of State for Business and Trade, pursuant to his Department’s press release entitled Reforms to make it easier for overseas companies to move to the UK, published on 25 March 2026, what quantitative assessment he has made of the potential economic benefits of introducing a re-domiciliation regime.

Answer

The Government has published an analytical paper alongside the consultation providing a high-level assessment of the likely impacts. Initial analysis suggests that the regime would help to make the UK more attractive to companies wishing to change their domicile and signal the UK’s openness to business, and position as a global centre. The impact on the UK economy is therefore expected to be positive, but the scale of that impact is uncertain. A further, more detailed assessment, incorporating the findings of the consultation, will be produced to accompany the legislation that introduces the re-domiciliation regime.

During the Department’s stakeholder engagement, some companies indicated that they decided against moving to the UK under the current system, which they found to be prohibitive. However, the Department is unable to estimate the overall number of non-UK companies that have been deterred from relocating to the UK under the current system as this is not information that is ordinarily published or announced by companies.

Secondary information

Type
Written question
Reference
126097
Session
2024-26
Grouped for answer
Yes
Subjects
Finance Domicil Foreign companies
Link
View this Written question on www.parliament.uk