Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.


Term of the day

permanent establishment

An overseas company may have a permanent establishment in the UK if there is a fixed place of business in the UK where the company’s business is wholly or partly carried on. Alternatively the presence of an agent in the UK with the authority to do business on the overseas company’s behalf can also establish a UK permanent establishment.

An overseas company with a UK permanent establishment will be subject to UK corporation tax on the profits relating to that permanent establishment.

A UK company...