{"id":6085,"date":"2010-02-15T10:23:31","date_gmt":"2010-02-15T08:23:31","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=6085"},"modified":"2010-02-15T10:23:31","modified_gmt":"2010-02-15T08:23:31","slug":"top-firms-consider-moving-abroad","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2010\/02\/15\/top-firms-consider-moving-abroad\/","title":{"rendered":"Top firms consider moving abroad"},"content":{"rendered":"

The Press Association: Top firms consider moving abroad<\/a>.<\/p>\n

According to the Press Association:<\/p>\n

Half of Britain's top 30 firms have looked at shifting their tax base offshore and a handful are actively considering such a move, it has been claimed.<\/p>\n

The threat of an exodus that could cost the state billions of pounds comes a week before the Treasury is due to hold discussions over reforms to the taxation of foreign profits - a key area of contention for major firms.<\/p>\n

Last week, Unilever and Diageo fuelled the debate by warning that they could move overseas if the tax regime worsens.<\/p>\n

Of the top 30 companies in the FTSE 100 Index, 15 told the Sunday Times that they were keeping their tax domicile status under review. Three said they were actively considering a move.<\/p><\/blockquote>\n

There's a problem with all this though.<\/p>\n

First, all know HMRC is plannign to challenge anyone who claims to have done this.<\/p>\n

Second, the move against tax havens is gathering pace - and those who think Ireland a panacea have to be deluded: the place is collapsing as a consequence of its tax policies.<\/p>\n

Third, the claim that a 50% personal tax rate is driving this is ludicrous: we all know that the amount involved is, because the measure does not involve restriction in allowances and reliefs, regrettably small.<\/p>\n

Fourth, The hype is over just three who are considering this: that almost certainly means none will go.<\/p>\n

Fifth, Grant Thornton are a persistent hand in these reports. They are also a heavily biased firm, offering consistent support to the Tories. One smells blatant political positioning on their part.<\/p>\n

In other words, this is all hype and nonsense.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Press Association: Top firms consider moving abroad. According to the Press Association: Half of Britain’s top 30 firms have looked at shifting their tax
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