Hundreds of companies mull moving to U.K. amid friendly tax regime

|By:, SA News Editor

Should Pfizer acquire AstraZeneca and move its HQ to the U.K. to take advantage of the country's friendly tax regime, the company could be joined by scores of others.

Accounting giants KPMG, PWC and EY are working with over 250 companies combined about relocation to the U.K., which changed its rules last year to only tax income generated in Britain unless it is "artificially diverted" from the country. In addition, the tax rate is due to fall to 20% next year, while the U.K. also provides generous R&D tax breaks.

The trend could help Britain in its attempt to rebalance its economy.

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