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F T S E 100 Company Leaving Uk Because Of Tax Regime


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Its all starting to happen.

Mass exodus to follow ?

On balance I'd say no due to the effort required to re-locate and prove a real management control exists in that country. For a pharma company Ireland is an obvious choice due to the huge industry there already.

I could imagine some of the airlines following suit e.g. Easyjet, but never BA !

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On balance I'd say no due to the effort required to re-locate and prove a real management control exists in that country. For a pharma company Ireland is an obvious choice due to the huge industry there already.

I could imagine some of the airlines following suit e.g. Easyjet, but never BA !

There are several more to come, trust me.

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Good riddance. But if you want to trade or operate here then you pay tax here fullstop. Someone has to pay the bills!

Seems to me business want to avoid tax, offshore, pay lousy wages then expect us to pay for their lousy tat, which pretty soon no one will be able to afford!

If rates of tax for business and high earners were penal like they were in the 60/70's it would be understandable, but they are become increasing penal on low and middle earners.

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Oh dear. The cut in Corporation Tax rate to 28% was made to prevent this from happening by making the Uk rate more competitive.

Add to that the U-turn on non-dom taxes and the treasury are going to have to go back to the drawing board.

Wouldn't surprise me to see them giving non-doms £30,000 a year just to stay here :blink:

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Good riddance. But if you want to trade or operate here then you pay tax here fullstop. Someone has to pay the bills!

Seems to me business want to avoid tax, offshore, pay lousy wages then expect us to pay for their lousy tat, which pretty soon no one will be able to afford!

If rates of tax for business and high earners were penal like they were in the 60/70's it would be understandable, but they are become increasing penal on low and middle earners.

Indeed, but who wouldn't they. Their remit is to maximise profits and minimise costs. If the government is lax enough to allow them to get away with it they would be remiss in their duties to shareholders not to.

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Oh dear. The cut in Corporation Tax rate to 28% was made to prevent this from happening by making the Uk rate more competitive.

Add to that the U-turn on non-dom taxes and the treasury are going to have to go back to the drawing board.

Wouldn't surprise me to see them giving non-doms £30,000 a year just to stay here :blink:

Yes but UK competes with Ireland and Netherlands which are tax havens in all but name, unlike the UK which is a tax haven if you are rich ( and preferably foreign).

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sounds like a good ruse. anyone know how I can go about moving my 'tax base' to a lower tax country while not affecting my day-to-day activities?

Good point. Level playing fields and all that. We should all get the chance to offshore our tax regime.

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Yes but UK competes with Ireland and Netherlands which are tax havens in all but name, unlike the UK which is a tax haven if you are rich ( and preferably foreign).

Given Irleands obvious infrastructure problems and debt problems in the near future I wouldn't panic.

Notice that they are moving to Jersey, thats an old one.

Also, they are not moving employees just paper.

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sounds like a good ruse. anyone know how I can go about moving my 'tax base' to a lower tax country while not affecting my day-to-day activities?

1. Earn your money outside the UK

2. Have eanrings paid into an offshore account

3. Tell Gordon to go an whistle.

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Guest X-QUORK

Great isn't it. Ireland's been rejuvinated using EU funding (that's UK taxpayers) and now they're stealing our business by undercutting with tax incentives.

Cheers for that Paddy.

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In Shire's 2006 accounts they claimed a tax rebate of USD85m, but is doesn't say whether that was in the UK or US. So on balance the UK may be better off without them :o

Yeah, cos that's how it works. You make money in a country and the country pays tax to you, innit.

ffs. A tax rebate. There's a clue in the name.

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The choice seems to be pay 28% here in the UK, or 12.5% offshore.

So only a simple 'back of fag packet' working out is required to tell a company if it's worth relocating. I'd imagine that the difference (15.5%) would make the decision to move away a non-brainer for most of the FTSE100

Buckers

Simple solution. Companies that move offshore to avoid tax should have their goods and services taxed at a much higher rate, so much so that nobody would bother buying their stuff.

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