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McDonald’s to Pay Millions in UK Tax

When you want a burger and fries what is the first name you think of? McDonald’s of course, and it now appears they are going to be paying a lot more tax.

This is because they’ve just announced that their non-US base which is currently in Luxembourg, is set to move into London after Brexit has been completed. Once the move is finalised, then our government can expect to be seeing a lot more tax paid by the fast food giant.

I’m sure they already pay quite a bit of income tax, but once their main international headquarters is based in our nations capital then it is going to be a lot more.

This all comes at a time when many of the American companies that have a base in the UK are being criticised for not paying enough tax. Big names such as eBay, Amazon, Apple and Microsoft all pay very little tax to our government, despite each making Billions of pounds every year from UK consumers.

No matter what you think about these kind of companies and their business practises, there is no doubt that McDonalds having its main international base in the UK is a good thing. Not only will more jobs be offered to our workforce, but contractors and freelancers will also get more opportunities from both temporary and permanent roles.

Also, let’s not forget about our accountants, who are no doubt very interested in offering their services to McDonalds if they are going to be paying a lot of tax to the government. Ultimately, that is one big tax return to fill in, which means they will require many accountants working around the clock.

Despite being an American company, McDonalds now make two thirds of their yearly revenue outside of the USA, with new restaurants opening every day in markets like South America and Asia.

Many fast food insiders have commented that London is the perfect base to make this all happen, mainly because of its central location and popularity among many international companies from around the world.

London is also a central hub for contractors, who have the skills that companies like McDonalds need, especially when it comes to things like IT and technology

This confirms to me that while the UK economy did struggle a bit immediately after the Brexit vote, it now seems that things are back on track and we can expect to see companies becoming confident again about wanting to do business here.

Many of the FTSE 100 companies have committed their future to the UK and confirmed they plan to keep their bases here.

This is good news for both contractors and accountants, and it goes to show that if you have the skills, you will be able to get work.

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