AstraZeneca has informed the government it is not relocating outside the UK,
after press reports claimed it would not rule a move out.
The news emerged as speculation continued on which companies might move
headquarters abroad because of the government’s approach to corporate tax. Shire
has announced it will become tax resident in Ireland, as has United Business
The main point of conflict is the government’s policy on taxing dividends on
foreign profits and its clampdown on ‘passive income’ which companies believe
will mean huge volumes of extra tax on income earned on intellectual property.
Other companies threatening to go abroad include WPP.
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation