TaxAdministrationAberdeen latest to join corporate exodus

Aberdeen latest to join corporate exodus

Aberdeen Asset Management is the last in the ranks of corporate groups seeking a friendlier tax regime

Aberdeen Asset
Management
is the latest in the ranks of corporate groups considering moving
its headquarters offshore for tax purposes as speculation grows that a wave of
British fund managers could exit the country in protest of Treasury tax changes.

Aberdeen has been based in the Granite City since 1987, when it was
established out of a $50m investment trust in a management buyout led by Martin
Gilbert, chief executive.

Losing the company, which yesterday bolstered its funds under management to
£114bn through the acquisition of a property business, would be a big blow to
the Treasury, The Times said.

Aberdeen follows
Brit Insurance,
which is one of several insurance companies that might move their headqarters to
lower-tax regimes such as Dublin and Geneva, on the fast growing list of
corporate groups which are threatening to leave the UK because of its
unfavourable tax levies.

Further reading:

UK’s top business chiefs threaten tax move

Multinational bosses threaten corp exodus

Read
The Times story

Related Articles

HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

2w Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

3m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter
UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter