Old Mutual has joined other FTSE 100 groups considering its tax options and eyeing more favourable tax regimes
Accountancy Age, 08 May 2008
Old Mutual, the £7bn London-listed insurance giant, has joined a raft of other FTSE 100 groups considering its tax options and eyeing more favourable tax regimes such as Dublin or Geneva.
A spokesman for the company told The Times that, although the group had decided against a move, it would keep its options open and would not rule out quitting the UK in tax terms sometime in the future.
Meanwhile, British American Tobacco, Britain’s twelfth-biggest company, revealed it paid no UK tax last year.
On pre-tax profits of £3.08bn, the company faced a UK tax charge of £977m, but this was cancelled out by foreign tax credits, adjustments and deferred charges.
Further reading:
He’s spent more than a decade at the top of...
The race to become the biggest firm on the planet...
Comments
Have your say on this article