WPP, the world’s
second-biggest advertising and marketing group, has confirmed it plans to move
its official headquarters from Britain to Ireland because of punitive changes to
the British tax regime.
A WPP spokesman told
on Sunday the advertising giant was likely to issue a stock exchange
announcement this week on its plans to change domicile.
The decision to move offshore will be a huge blow for the Treasury,
particularly as Martin Sorrell, WPP chief executive, has acted as an ambassador
for British business.
WPP, who paid ?204m in UK taxes last year and conducts almost 90% of its
business outside Britain, estimates the tax regime changes would add tens of
millions to its British tax bill.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay