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

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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Comments (5)
  • aretailguy
    , contributor
    Comments (1988) | Send Message
    "Hundreds of companies" mulling moving to Ireland to escape confiscatory US taxes. This sounds like a cheap Fox News headline. Surely these are all the same companies that gleefully donated twice to the Obama campaigns. Why would any company want to move to Ireland? This just can't be true.
    4 May 2014, 11:20 PM Reply Like
  • Ford289HiPo
    , contributor
    Comments (1038) | Send Message
    They urinated in their bed, then they want to take their liberal attitudes someplace where the air is cleaner.
    6 May 2014, 02:21 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
    I don’t find it shocking at all that more multinational businesses are simply changing the address of their headquarters to a different country to see significant tax savings. Add to this news that 2014 is expected to be yet another record year for Americans renouncing their citizenship; 2014 is on track to hit 4,000 renunciations.


    What I expect from the government is for them to double down on failure and raise tax rates for those businesses and individuals who are unable to flee.
    5 May 2014, 06:52 AM Reply Like
  • PeteCal
    , contributor
    Comments (90) | Send Message
    I have been plotting my move from Taxfull NY to another state. TN perhaps.
    Maybe I should be looking at Australia.
    5 May 2014, 08:50 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (708) | Send Message
    I’ve done some research on other countries and as much as I’d like to move to Brazil, their tax on Capital Gains is worse than the US especially if you Day Trade. I haven’t studied all tax implications like property taxes, etc., but I doubt I’ll end up there as much as I love the country.


    Singapore has a tax rate of 0% on Capital Gains, but there has to be a catch somewhere; there is no such thing as a free lunch.
    5 May 2014, 09:29 AM Reply Like
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