Tax competitiveness

More businesses are actively considering moving their tax residence

The number of companies thinking of shifting their tax base away from the UK has more than doubled since 2007, KPMG’s annual survey of tax competitiveness has found.
14 per cent of Britain’s 50 largest businesses were actively considering moving their tax residence in 2008.

The survey was carried out moments before the Pre-Budget Report at the end of last November, which announced exemptions on foreign-earned dividends from UK tax.

“The UK is at a tipping point, and is in danger of losing investment and jobs because of its tax laws, “ Sue Bonney, head of tax at KPMG Europe said.

“If the trickle of companies leaving is to be prevented from becoming a flood, further action is needed, and quickly.”
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