Firms rush to relocate in low-tax Britain

More than 40 multinational companies have inquired about relocating their headquarters to the UK because of the cuts in corporation tax.

Steve Varley, the UK chairman of Ernst & Young, revealed that the accountancy firm knew of the significant number of firms seeking to relocate from countries such as the USA, as well as from the Netherlands, Switzerland and Ireland.

bartelbe: No doubt Private Eye will have fun trashing this worthless article, firms not named, no source for figures. Potential for 40 companies, and 1 billion. No information to backup these assertions, and no proof that money gain will offset that lost by reduced corporate tax rate. Will companies simply setup a post box here and claim to be base here. Or will significant numbers of staff be moved here? All sourced fromna company that helps the rich avoid tax, not exactly unbiased. "The advertising giant, WPP, recently announced that it would move back to the UK from its present headquarters in Dublin." Actually Ian Hislop's lot already exposed the WPP move as pretty much worthless. Did it really take two journalists to write this rubbish?

nogoodboyo: This article is a summary. If you want the minutiae of which companies are considering moving when, why don't you just read the Ernst & Young report?  It's a public document.

o4hu: Seriously this article is meaningless drivel. You might as well write a story that the hobbits have given up middle earth and are descending on somerset due to the quality of the cider. You know this because you heard it from 'a source close to Gandalf'. Unreferenced, uncheckable heresay The multinationals pay little or no tax anyway. Osborne said we should follow the example of Ireland (right before their economy *really* went down the toilet). Why don't we ask the Irish what low corporate taxes have done for their economy?

pleh: Will they actually pay any tax?

paulweighell: Not if they are not here to start with…

alexw: So you suggest we undercut other nations, which they in turn repeat on us so that we are in a worse position than what we started with? bravo for your moronic stupidity!!!

TruthDestroysWorlds: The large corporations have seen that in Britain when their like get into financial trouble, they are invariably bailed out by the taxpayer. So, why wouldn't they come here? After all, it is not as if they will be actually paying any taxes.

bluescruff: Just like allowing every Tom, Dick and Harry into this country and giving them every benefit going!

Freeas Abird: Well I suppose somebody has to do something to pay the taxes the EU gets from the UK and donates to Turkey to set up Ford Transit Van production, whilst closing the factory already building them in Southampton, UK.

fungustrotter: The UK government obviously declined to pay Ford the required subsidy to keep it open. Probably the correct decision considering how well the UK car industry is going. Tax breaks and R&D for a profitable UK car industry is good business, subsidising a van factory with no real future is bad business.

hucks67: They have heard that HMRC are rubbish at collecting taxes and hardly anyone is taken to court for tax avoidance !  

ianchall: Be a sole trader…and your worth is that stuff that sticks in the tread of your boots…I now know what I am to the state…

pc:  And so many of the people in the UK (at least those who recced Hucks post) don't know the difference between tax avoidance and evasion.

hucks67:   I think most people realise there is a difference between avoidance and evasion.  But UK tax laws are more lax than in the US for example where the IRS do appear to prosecute more people for not paying the tax that was properly due.

robertsonjames: Nice try, but pc nailed it. By objecting to people not being prosecuted for "tax avoidance" you merely showed you're one of the many ignoranti in the lynch mob who think it's illegal and the same as tax evasion.

TruthDestroysWorlds: Only the 'little man'. Your average man in the street.

TruthDestroysWorlds: In Britain the large corporations now control our government, many years of intense lobbying have seen to that. The banks of course being the worst of all, in that they were 'wrongly' gifted the power to control the issuance of our currency. A situation they have used to their clear advantage for many years. Actually creating booms and busts in order to systematically rob the populace of all of their real wealth. Or did you think this was all occuring by mere chance?

Denis Dowen: G.Brown abolished boom and bust. Did you not forget. On top of which RedEd says he and Labour are the ones to sort out the economic disaster they created. Worse still he and his union infiltrated party lead in the polls

TruthDestroysWorlds: I don't buy into the red and blue garbage, underneath they both worship the 'same colour', the colour of money. Hence why the more change is promised at each subsequent election, the more things eventually stay the same. Lets have a change at the top. "Come on UKIP".

Earlthecat: Firms rush to relocate in low-tax Britain…where they know they can legally avoid paying it!  

alexw: Well currently we are losing £34 billion a year due to endemic corporation tax avoidance, and as a result of the lower headline rates. (In 2001-02, corporation tax from large companies excluding oil companies was £21 billion. In 2011-12 it had fallen to £11 billion. If the rate of increase of corporation tax receipts was the same from these companies as for SME's, they would in fact be paying around £45 billion). So we just *might* get £1 billion a year out of this when we are down £34 billion, and kamel-the-village-idiot-Ahmed, thinks we are somehow getting a good deal???  His corporate shilling knows no bounds…

Brimstone52:     "His corporate shilling…" Seems to be about 10d. (For the non "real money" people, that's ten old (pre-decimal) pence.)

Earlthecat: Oh what are you saying?  He is not the full shilling!   12d made a shilling, now only worth 5p but probably has the same value as an old farthing back then.   Governments have been ripping off the people for decades, but this one takes the biscuit.