UK Scaring Off Business With Nasty Tax Regime
Is the brain drain in full flood yet…?
We’re not sure. Last year there was much hype, in fact there still is this year. And there certainly seems to be more evidence of businesses moving…
The Times: THE publisher behind shipping bible Lloyd’s List is saving £12m a year after shifting its tax domicile to Switzerland.
Informa has relocated four key executives plus their wives to Zug. They include the chief executive, Peter Rigby.
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The move mirrors the exile of numerous other companies and highlights fears that talent is draining out of Britain.
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Top finance directors will this week warn that the tax burden on Britain’s biggest firms is unsustainable.
Research by The Hundred Group and Price Waterhouse Coopers will show that close to half the profit made by blue-chip companies is paid in tax, up from 45% last year.
On that assessment, one can understand why. At this stage, it’s probably a trickle more than a flood but the signs are not good. Come May the picture will undoubtably be clearer…
