Moneysupermarket founder moves to Jersey for tax reasons

by Calum Fuller

More from this author

16 Nov 2012

  • Comments
jersey-portelet-bay

THE FOUNDER of price comparison website Moneysupermarket, Simon Nixon, is moving to Jersey (pictured) in order save millions of pounds in tax.

Nixon owns half the £790m company and boasts a personal fortune of £536m, placing him at 55th on the Sunday Times Rich List.

He is the latest entrepreneur to move for tax purposes, the Telegraph reports, and is set to save millions of pounds annually on tax dividends alone.

His decision to relocate comes less than a month before the Chancellor makes his Autumn Statement, in which he will attempt to enhance the UK's attractiveness to businesses, while simultaneously addressing the issue of tax avoidance.

The reduced rates paid by multinationals such as Starbucks, Amazon, and Google has drawn wide criticism, with representatives of the trio appearing before the Public Accounts Committee in order to discuss the issue earlier this week.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Appointments to University Committees

University of Glasgow 120x60University of Glasgow - Glasgow - unremunerated positions

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

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.

cchcover

iXBRL: Taking stock. Looking forward

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.