The Resource Migration of UK-owned multinationals

Migration of UK-owned multinationals

Migration of UK-owned multinationals
Migration of UK-owned multinationals
Large companies - such as Shell and various insurance companies - have in the past shifted their tax residency away from the United Kingdom, but April 2008 saw two major UK listed companies look to do so, not as part of a wider restructuring exercise, but in response to the UK taxation regime and possible changes to it. The significance of these proposals has not been lost on the UK government. In what was seen by many commentators to be a response to the move made by Shire and United Business Media, the Treasury announced the formation of a new working group to examine "the long-term challenges facing the UK tax system and ensure competitiveness remains at the heart of any future reforms". Eight multinational executives have been appointed to the group that are set to discuss some of the concerns that UK-based multinationals currently have with the UK's tax system. This article summarises some of those concerns and describes the reasons why a UK-based multinational may wish to move its tax residency from the United Kingdom, and how this can be achieved
Citation source
In: Tax planning international : European tax service. - London. - (July 2008) ; p. 7-9
  • Stuttaford, D
  • Denny, E
Geographic coverage
  • European Union
  • Europe
Language note
  • migration
  • MNE
  • residence
Migration of UK-owned multinationals

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