Anti-avoidance drive could push corporates out
Top companies are looking to domicile outside of the UK because of government policy
The UK’s tough stance on anti-avoidance may drive some of the country’s
largest companies overseas, according to reports.
At least one FTSE100 company is understood to be investigating a move away
from the UK in response to the crackdown on once-accepted business practices.
Guy Brannan, head of tax at City law firm Linklaters, told The Times
that the relocation plans of a number of companies were at a ‘pretty advanced
stage’.
Others are so angry with the move that they are refusing to cooperate with HM
Revenue & Customs’ attempts to understand tax planning.