BusinessCompany NewsLloyd’s needs tax reform to stay at the top

Lloyd's needs tax reform to stay at the top

Lloyd's chairman again warns about the threat to its position unless the corproate tax regime is revised

Lloyd’s of London chairman Lord Levene has again called on the government to
revise the corporate tax regime to protect the business.

Lloyd’s, which is regarded as the main market for insurance, faces pressure
from insurers moving offshore due to take advantage of more attractive tax
regimes.

‘Companies are not going to redomicile overnight but, if we can see the
threat coming, then the Government must act on it,’ said Lord Levene, reported
the Daily Telegraph.

Lloyd’s saw its interim profits fall by half to £949m for the six months
ending 30 June, compared to £1.8bn 12 months earlier.

A drop in investment and increased claims dragged profits down, it said.

Further reading:

Read
the Telegraph’s story

Lloyd’s chief renews attack on
Govt’s tax policies

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor