Publisher Informa shifts tax base back to UK

by Calum Fuller

More from this author

11 Dec 2013

  • Comments
Britain and Ireland satellite image

FOUR YEARS after moving to Switzerland, publishing house Informa is to move its tax base back to the UK.

The FTSE 250 media group, which publishes titles including Lloyd's List, said it is seeking shareholder approval to move its headquarters back to the UK during 2014.

In 2009, Informa, which generates most of its revenues from abroad, became one of a number of companies, including WPP, Henderson and UBM, to relocate overseas as a result of tightening tax rules on foreign profits.    

However, George Osborne's policy of cutting corporation tax and slashing tax rates on controlled foreign companies has enticed it back, in what is likely to be seen as a coup for the coalition government.

The move, which Informa said is unlikely to result in any "material change in reported taxes or taxation paid" is an indication of the UK's increased competitiveness as a tax domicle.

In last week's Autumn Statement, Osborne cited a report by KPMG that found. for the second year running, the UK has the most competitive business tax system. 

"Putting up corporation tax hits investment, cuts productivity and raises much less" Osborne said. 

WPP became one of the first companies to return from self-imposed tax exile when it announced in August last year that it would be returning to the UK because of changes to the way foreign profits are taxed.

 

 

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

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.