is shifting its tax base from the UK to Switzerland in an attempt to achieve ”
more certainty” in its tax position.
A new group holding company will be created, called New Wolseley. The holding
company will be UK-listed, incorporated in Jersey and have tax residence in
“The proposals are expected to enable the group to achieve a competitive
effective corporate tax rate,” said the group in a statement to the stock
The proposals will not change the tax position of the UK business.
Chief executive Ian Meakins said that the company’s underlying tax rate would
come down to 28% from 34%, according to reports. The difference would have saved
£23m in its last year’s results if it had made the move, reports added.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
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