TaxCorporate TaxUK’s top business chiefs threaten tax move

UK's top business chiefs threaten tax move

Uk business bosses rasie concerns over the U's ability to charge tax on their foreign dividends

Some of the biggest UK businesses have threatened to move their HQs out for
tax purposes.

Details emerged over the weekend of a recent meeting between the prime
minister and chancellor with chairmen from some of the UK biggest multinationals
over their concerns that the government would tax dividends from foreign
operations.

Chairmen from HSBC, Vodafone, GlaxoSmithKline, BAE Systems, BAT, Shell and BP
met the government to discuss the plans, according to the

Daily Telegraph
.

Shire and United Business Media recently stated that they plan to move their
company centre out of the UK for tax purposes, while other major organisations
have not ruled out a move.

WPP chief executive Sir Martin Sorrell said the company would consider moving
its tax domicile offshore.

Brit Insurance also raised concerns over the tax changes, according to
The
Times
.

Further reading:

Read
The Times’ story

Read the
Telegraph’s
story

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