Recent moves offshore have been quantified by a survey which reveals one in three UK-based companies are considering moving operations abroad
The survey showed 38% of the 629 participating executives at medium and large
companies said they had discussed moving operations offshore in accessing a more
competitive tax structure.
The results of the YouGov poll, as reported in
Daily Telegraph, also revealed 39% said they thought the tax was ”
inefficient” and should be reformed, and 37% think the time and cost burdens of
corporation tax have increased over the last five years.
Paul Eagland, national head of tax at BDO Stoy Hayward, who commissioned the
poll, said it’s a critical time for the Treasury in reconsidering its corporate
‘This could include considering options such as a much lower fixed rate of tax
or even the abolition of corporation tax altogether to be replaced with a regime
that focuses on prescribed distributions to shareholders,’ he said.