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Taxing times as companies quit UK

Financial Times: Taxing times as companies quit UK

By Vanessa Houlder
Published: April 16 2008 03:00 | Last updated: April 16 2008 03:00

* 2005

Royal Dutch Shell opted for a parent company with Dutch headquarters and tax residency when it overhauled its dual-listed structure

* 2006

Hiscox, a Lloyd’s specialist insurer, moved its head office to Bermuda

Omega Underwriting, an Aim-listed insurer, moved its domicile to Bermuda

Colt Telecom created a new Luxembourg-based holding company at the same time as a big financial restructuring

Experian set up European headquarters in Dublin when it demerged from GUS, the retail group

* 2007

Ebay, the online business, moved its tax base from the UK to Luxembourg

Kraft, the consumer company, moved its European headquarters from the UK and Austria to Switzerland

* 2008

Yahoo, the internet company, said earlier this year that it was moving its European headquarters to Switzerland

Shire creates a new group structure, with a parent company tax resident in Ireland, to ‘help protect the group’s taxation position, and better facilitate the group’s financial management’

Vanessa Houlder

Copyright The Financial Times Limited 2008

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