UK-only companies look at quitting
UK-only companies look at moving abroad, tax advisers say
Some companies with purely UK operations are seeking advice as to whether
they should move abroad, tax advisers have revealed.
Speaking at an Accountancy Age Insider Business web seminar, Dominic
Stuttaford, tax lawyer at Norton Rose, said he has witnessed the phenomenon. ‘We
got some calls from some entirely UK operations with no international operations
saying “well we should be doing it”. And things quiet down and you say, “well,
no, you don’t really need to”,’ he said.
Chas Roy-Chowdhury, head of taxation at
ACCA, said a lot of the
issues stem from the moving of tax policy from Revenue to the Treasury, and the
impacts this has had on the effectiveness of the consultation process.
‘It just seems that tax policies are in the wrong place,’ he said.