TaxCorporate TaxHenderson relocation imminent

Henderson relocation imminent

A potential move by a major financial services player is set to rile Treasury

Henderson Group, a prominent British asset manager, is believed to be close
to relocating offshore, becoming the latest business to snub the UK’s corporate
tax regime.

According to a report in
The
Telegraph,
Henderson will announce its interim results today and the
decision whether to move abroad will be made official.

Henderson is just one in a string of companies shifting which have mulled
moving operations offshore, but is believed to be one of the first in financial
services.

According to Mike Warburton, senior tax partner at Grant Thornton, the
company’s decision to move is of grave concern for business and the City.

‘The Treasury needs financial services businesses to start upping sticks and
going abroad like it needs a hole in the head,’ he said.

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