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International Markets: United Kingdom business network (UKBN)

Building bridges between businesses in the United Kingdom and the United States

PwC's United Kingdom business network (UKBN) is a trans-Atlantic integration of our professionals in technology, tax, compliance, workforce, deals and more to help companies in the United Kingdom and the United States chart a strategic course for their trans-Atlantic operations. If you’re thinking about investing—or already have invested—in the United States or United Kingdom, UKBN's bicultural advisors can help you navigate regulatory, cultural and other business challenges.

Roger Braybrooks and Paul Morton co-lead our UKBN, backed by our global network. Roger is based in New York and, through his Capital Markets role with PwC UK, has worked extensively with US Financial Services clients, advising firms on operational challenges around areas such as productivity, controls and client centricity.

Paul resides in San Francisco and focuses on the Technology, Media and Telecom sector. Paul has over 20 years of consulting experience advising CFOs and senior finance leaders on how to transform their functions to reduce their cost base, improve controls and become more effective in supporting their business.

Strong connections

For good reasons, US and UK companies seek to strengthen their foundation of global operations in these two large and intertwined economies. The United States and the United Kingdom are the biggest sources of foreign direct investment (FDI) in each other. Each country’s opportunities are important for the other country’s companies.

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“I know—or can find out very quickly—who to call in PwC’s global network to give UK and US clients the insights they seek, and I then can accompany the execution to help clients as they move forward, fulfilling their goals.”

Roger Braybrooks, Partner, PwC UK

Why invest in the United States?

The United Kingdom already invests heavily in the United States: It accounts for almost 13% of all foreign investment outstanding in the US, making the United Kingdom the single largest direct investor in the US. Most of the FDI is concentrated in Manufacturing, Finance, and Information Services sectors. With a large consumer market, an innovative workforce, and a regulatory environment conducive to starting a business, the US remains a top destination for FDI. However, as the pace of change increases around policy and regulatory changes, potential investors will want to ensure they are extracting the most value out of their investments and deals.

Source: Bureau of Economic Analysis (BEA, US), 2018

Why invest in the United Kingdom?

Since 2015, the United Kingdom has been ranked third behind the US and Hong Kong in terms of total inward foreign investment (while being the number one destination for FDI in Europe.) FDI represents a vital source of economic activity and jobs for the UK. The US remains the largest investor in the UK, accounting for a little above a quarter of all foreign investment outstanding. US companies mainly invest in Finance, Manufacturing, and Information Services sectors. But more recently the UK has been a leader in attracting digital FDI in Europe. Investors will want to continue to reassess their investment positions in the United Kingdom in the face of a changing FDI landscape and changes posed by Brexit.

Source: Office of National Statistics (ONS, UK), 2018

Our inbound and outbound business services

PwC's advisors have extensive experience working in the United States and around the globe. As you consider markets to enter, we'll help you calculate efforts and costs realistically and adapt approaches to local circumstances, including working conditions, communication styles and processes. Contact us today about any of our three main service areas: deals and consulting, cross-border tax services, and audit and assurance.

Deals and consulting

  • Market entry strategy and assessment
  • M&A due diligence, execution and integration
  • Valuation services (business combinations, fair value measurements)
  • Capital project management and delivery
  • HR strategy and shared services advisory
  • Corporate compliance, fraud and FCPA consulting
  • Supply chain and operations consulting
  • IT system strategy/development and IT support
  • Forensic services (investigation of fraud, economic crimes and disputes)

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Tax services

  • Acquisitions and dispositions
    • Evaluate the tax implications of US inbound acquisitions and dispositions designed to implement key initiatives
  • Business and tax alignment
    • Align cross-border business and tax objectives
  • Compliance
    • Address compliance requirements with respect to US federal and state tax laws, and hot topic areas such as transfer pricing and FATCA
  • Income tax provision and uncertain tax position analyses
    • Individual income and payroll taxes
  • US income tax treaties and competent authority
    • Determine the applicability and desirability of obtaining the benefits of US tax treaties in the context of cross-border financing and investment, international mergers, acquisitions and dispositions
  • US tax benefits
    • Consider federal and state tax benefits, including credits and incentives available to US inbound companies
  • Legislative and regulatory services
    • Monitor real-time developments on fast-moving US federal and state legislative and regulatory developments
  • IRS audit support
    • Respond to the IRS and state revenue services’ challenges, including proper characterization of US inbound financings as debt vs. equity
  • US trade
    • Navigating the US customs and tariffs regimes.

Learn more about US inbound tax services

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Audit and assurance

  • Audit and assurance reviews
  • Audit on internal control over financial reporting
  • Accounting and regulatory advisory
  • Internal controls assessments
  • Reporting standards conversion (GAAP/CAS/IFRS)
  • Cost reduction/efficiency improvement reviews

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Chris Monteleone

US Inbound Assurance Leader, UK Business Network Leader, PwC US

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