THE TREASURY is reported this morning to have been in talks with advertising and maketing giant WPP about returning its tax base to the UK.
The Daily Telegraph claims that disucussions have been under way for six months and centre on a reformed ‘controlled foreign companies’ (CFC) regime that would make it more attractive for WPP to be back in Britain.
WPP controversially moved its tax base to Ireland in late 2008 amid growing criticism of the UK’s corporate tax regime.
Chancellor George Osborne is expected to announce changes to the CFC regime in his Budget on Wednesday.
The CFC regime is designed to block tax avoidance using overseas companies located in tax havens.
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