HomeOperational costs
The benefits of setting
up a business in Belfast
include the very
competitive operational
costs and the liberal
taxation regime.
Office space
New, purpose-built and fitted-out office space costs are easily affordable, with Belfast currently maintaining the most competitive rental rates in the UK (prime office rent in Belfast is £14.00 per sq ft).By comparison, London prime office rent is £48.50 per sq ft while London’s West End is £87.50 per sq ft.
Tax relief
New businesses can benefit from a variety of tax allowances and reliefs which cut tax bills. These include capital allowances for investment in equipment and premises and tax relief and credits for spending on research and development.- Corporation and personal taxation levels are amongst the lowest in Europe.
- Capital grants are not taxable (a unique position within the UK).
- Capital allowances of up to 100% in the first year for small-to-medium sized enterprises (SMEs) are available for expenditure on environmentally-friendly plant and equipment.
- Tax credits for research and development are available to stimulate scientific innovation for SMEs.
- Research and development tax relief rates of 175% for SMEs (up to 250 employees) and 130% for companies with 500 plus employees are to be implemented.
