Big Four helping companies move offshore
Exodus of UK companies expected over tax avoidance clampdown
The Big Four are helping major British companies move their headquarters
overseas following chancellor Gordon Brown’s increasing efforts to clamp down on
tax avoidance.
The Financial Mail reported senior partners at the firms as saying
they were drawing up plans for large corporations to move offshore if HM Revenue
& Customs does not slow the pace of change to current tax rules.
One partner claimed that this included a number of FTSE 100 companies.
According to Anneli Collins, senior tax specialist at KPMG, major companies
were undergoing a ‘sense check’ to gauge where they might relocate, how much
they would save and what would be the costs.