TaxCorporate TaxTreasury in talks with WPP to return to UK

Treasury in talks with WPP to return to UK

Six months of talks with advertising giant to return tax base to the UK

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.

Related Articles

Lower corporate tax rates attract foreign investment

Corporate Finance Lower corporate tax rates attract foreign investment

5y Kevin Reed, Writer
WPP CEO says corporation tax “question of judgement”

Company News WPP CEO says corporation tax “question of judgement”

5y Rachael Singh, Writer
Henderson Group moves tax residency to the UK

Corporate Tax Henderson Group moves tax residency to the UK

5y Richard Crump, Writer
New CFC rules go live in next week's Finance Bill

Corporate Tax New CFC rules go live in next week's Finance Bill

6y Melanie Stern, Writer
Charity: New corporate tax loophole will cost poor countries £4bn

Corporate Tax Charity: New corporate tax loophole will cost poor countries £4bn

6y Nick Huber, Writer
CFC changes will drive jobs away, not into, the UK

Corporate Tax CFC changes will drive jobs away, not into, the UK

6y Tim Branston
Controlled foreign companies reform 'will boost UK'

Corporate Tax Controlled foreign companies reform 'will boost UK'

6y Jaimie Kaffash, Writer
Informa considers UK tax base return

Corporate Tax Informa considers UK tax base return

6y Kevin Reed, Writer