Letters of Endorsement 5
Foreword 13
Preface 13
1．Introduction to the United Kingdom 13
1.01 Political Background 13
1.02 Economic Factors 15
1.03 Currency 16
1.04 Government Intervention in the Economy 17
1.05 Government Attitude Toward Foreign Investment 18
2．Business Structures 19
2.01 Overview 19
2.02 Branch/Representative Office of a Foreign Incorporated Company 20
2.03 The Incorporated Company 22
2.04 How Can Deloitte ＆ Touche Help? 26
3．Foreign Investment 27
3.01 Foreign Investment Rules 27
3.02 Overview of UK Target Sectors 29
3.03 Grants and Incentives 38
3.04 Foreign Trade 48
4．Raising Capital in the UK 62
4.01 London-the Global Powerhouse 62
4.02 Stock Exchanges 67
4.03 Equity Finance-A Guideline for Public Offerings in the UK 70
4.04 Going Public in Hong Kong-A Guide to the Process 73
4.05 Deloitte ＆ Touche Corporate Finance Services in the UK 79
4.06 Deloitte Touche Tohmatsu Corporate Finance Services in Hong Kong 84
5．Accounting and Auditing 92
5.01 Overview 92
5.02 Reporting Requirements 92
5.03 Accounting Principles and Standards 94
5.04 Audit Requirements and Standards 95
5.05 How Can Deloitte ＆ Touche Help? 96
5.06 Frequently Asked Questions Answered 96
6．Taxation 101
6.01 Overview of UK Taxation 101
6.02 Personal Income Tax 105
6.03 National Insurance 111
6.04 Corporation Tax 113
6.05 Value Added Tax 118
7．The Labour Market 122
7.01 Overview 122
7.02 Recruitment 123
7.03 Immigration 124
7.04 Employment 126
7.05 Benefits and Social Charges 130
7.06 Termination of Employment 133
7.07 How can Deloitte ＆ Touche help? 134
8．Useful Facts and Information 135
8.01 Business Cultures 135
8.02 Living in the United Kingdom 138
8.03 Transport 144
8.04 Snapshot of Britain 147
8.05 Shopping 149
Appendices 152
Ⅰ．China-Related UK Organisations 152
Ⅱ．Chinese Organisations in the UK 154
Ⅲ．Useful Addresses and Sources of Information 156
Ⅳ．Key Facts 161
Ⅴ．Calendar of Main Events in the UK 173