29 Sep 2008
WPP, the world's second-biggest advertising and marketing group, has confirmed it plans to move its official headquarters from Britain to Ireland because of punitive changes to the British tax regime.
A WPP spokesman told Reuters on Sunday the advertising giant was likely to issue a stock exchange announcement this week on its plans to change domicile.
The decision to move offshore will be a huge blow for the Treasury, particularly as Martin Sorrell, WPP chief executive, has acted as an ambassador for British business.
WPP, who paid ₤204m in UK taxes last year and conducts almost 90% of its business outside Britain, estimates the tax regime changes would add tens of millions to its British tax bill.
Every day it becomes clearer that the Government, through its crazy policies, is driving the UK towards recession.
Mr Brown, please call an election NOW!
Posted by: John Stephany, 29 Sep 2008 | 00:00
You may also like
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.