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01 May 2009
Professional publisher, Informa, has announced plans to relocate its headquarters from the UK to Switzerland, a move in response to plans to introduce 'double taxation' of profits earned overseas.
The publisher of the Lloyd's List is reportedly set to tap shareholders for £242m in a bid to stave off breaching its borrowing terms, according to timesonline.co.uk
Planned changes to corporate tax in the UK are likely to have 'a detrimental impact' on the company's finances. Its tax rate is expected to rise from 26.5% to about 30.5% under the changes.
Details of the plan include the retaining of its UK stock market listing, moving its incorporation to Jersey and its tax base to Switzerland.
Four fifths of Informa's earnings are generated overseas.
The move follows decisions made by UBM and WPP, both of whom moved their headquarters to Ireland.
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