TaxCorporate TaxHSBC: ‘London is best place to be’

HSBC: 'London is best place to be'

Bank chairman plays down suggestions that it is considering shifting its HQ over taxation concerns.

HSBC chairman Stephen Green has played
down suggestions that the bank is set to leave the UK over tax.

Accountancy Age revealed in October the comments of
senior figures at the
banking giant that it would consider leaving over a perceived decline in the
UK’s competitiveness because of tax.

The bank regularly reviews its HQ in terms of tax, availability of skilled
workers and transport links, but Green told the
FT:
‘Ever since 1992, and I see no reason that this is going to change as of now,
the answer has been London.’

Further Reading;

HSBC: ‘We’ll quit UK over
tax’

HSBC says leaving will save
it £400m in tax

Tax crucial to election as
Cameron and Brown woo business

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