This Practice Note sets out the key UK tax considerations for an overseas purchaser acquiring a UK business by way of asset sale or share sale, often referred to as an inbound transaction. It considers the potential tax costs of the acquisition, the tax considerations when returning profits overseas, the tax efficiency of the target business and how such a cross-border transaction might be structured so as to mitigate UK tax costs and maximise UK tax efficiency. This Practice Note is produced in partnership with Tim Shaw of Blick Rothenberg Limited.