TaxCorporate TaxE&Y to advise Brit on new regime

E&Y to advise Brit on new regime

Lloyd's of London insurer seeks advice on a more favourable tax regime

Ernst & Young has been appointed to advise Brit Insurance on a more
competitive tax regime that could see the underwriter quit the UK market.

According to a report by the
Financial
Times
, the company has been considering its options for several months
and is seeking advice from the Big Four firm in assessing alternative
jurisdictions.

Such a move could offer a reduced rate of corporation tax.

Despite failing to identify potential locations, Switzerland, Ireland, the
Cayman Islands and Bermuda are among those that offer preferable tax rates to
the UK.

The news follows reports earlier this year the FTSE 250 company called on the
government to overhaul the corporate tax system.

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