The decision of the United Kingdom to abandon the European Union, voted by the British citizens in the referendum of 23 June, has already begun to have its first effects on the global social and economic landscape, causing not only a probable limitation to the free movement of European citizens in the UK, and the negative consequences, but also a range of opportunities related to both the devaluation of the British pound and the greater legislative autonomy that the United Kingdom can exercise once free from the constraints established in the EU.

As mentioned above, the decision to exit the United Kingdom had primarily a negative impact on the value of the Great Britain Pound (GBP), otherwise known as the British Pound; if on 1 December 2015 a British pound was worth, at the exchange rate, 1.4213 Euro and 1.5065 US Dollars, less than a year later, on October 24, 2016, a British Pound was traded at much lower values, equal to 1.1234 Euros and 1.2235 US Dollars [1]; however, the collapse of the British Pound does not seem to be finished, as most analysts argue that, within the next few months, the British Pound will be exchanged at an equal value against the Euro [2].

The collapse of the British currency is undoubtedly an important incentive and an opportunity for all those interested in investing in the United Kingdom, as never before has it proved profitable to invest Euro and US dollar currencies in the United Kingdom; this situation certainly deserves adequate consideration with reference to investment choices, especially if, as analysts’ forecasts, the British pound, in the short term, paradoxically had to reach an exchange value lower than the Euro.

A further opportunity deriving from the Brexit process is represented by the intentions expressed by the British Government following the referendum, to further reduce the tax rates with reference to the Corporation Tax, the income tax earned by the Companies in the United Kingdom.

The steady reduction in tax rates is part of a contingency plan already in place since 2008, when it recorded a tax on corporate income tax rate by 30%; starting from 2008, the rate has progressively decreased to 28% in 2009, 26% in 2011, 24% in 2012, 23% in 2013, and 21% in 2014, up to the current rate of 20 %, which allows the UK to boast the lesser tax rate among the G20 countries, also in Russia, Saudi Arabia and Turkey. [3]

The desire to further facilitate the arrival of new companies in the United Kingdom, also in consideration of the Brexit affair, has however prompted the British government to make a further program to reduce the tax rate of the Corporation Tax, which according to intentions will 19% in 2017 and finally 17% in 2020; According to authoritative information, however, the British Government, in the post Brexit, is even considering the possibility of even approving a rate of 15%, thus making the United Kingdom the country belonging to the G20 with the lowest tax on corporate income [4] ].

[1] Data obtained from the site http://finanza-mercati.ilsole24ore.com/strumenti/converti-valuta/converti-valuta.php;

[2] Enrico Franceschini, Pound Sterling, for the first time the euro is worth more, www. repubblica.it, 8 October 2016;

[3] R. 4 Barlaam, London will lower taxes to businesses to 17%, Il Sole 24 Ore World, September 11, 2016.