UK Business Move to Eire for Tax Reasons

[SteveH]

The Exodus begins to Save at Least %8 in UK Tax Payments.

Henderson to leave UK tax regime  

 http://newsvote.bbc.co.uk/1/hi/business/7585723.stm

Henderson's move may reopen the debate over UK taxation of companies
UK investment fund Henderson Group has announced it is to establish a new parent company in the Republic of Ireland to reduce its tax bill.

Henderson said the move would cut the rate of corporation tax it pays from 28% in the UK to about 20% in Ireland.

Its announcement comes after similar moves by Shire Pharmaceutical and news group United Business Media.

The UK government cut corporation tax to 28% from 30% in April, but some of its other tax moves have been attacked.
 

[P-N]

Not suprising.  My UK firm just finished a construction sub-contract job for Mitisubshi Heavy Industries in Eire -Now they set up there, watch their London office become a satellite office to Eire for the same reasons in the near future as they will no dount restructure to accomodate the tax "bonus".

No doubt this wil be the tip of the iceburg - 8% is a massive number and puts tax increases/decreases in a difficult position for Government when the economy is stalling.

[BritKyiv]

Maybe a good move...but its dam expensive to live in Ireland now.
I assume they will employ many Irish locals, if they can find them, or maybe Polish workers

I lived in Dublin in the early 80's and it was a basket case then, but we all know how it has changed and become a great nation.  Only problem for me is that they 'milked' the EU gravy train handouts for billions to help develop their economy and then recently put two fingers up to the EU regarding the EU Constitution.

Thats appreciation and democracy for you 

[ecocks]

"..put two fingers up to the EU.."

Obviously an idiom for you guys - meaning?

[P-N]

The 2 fingers thing is historical but means the same as the middle finger or "bird".

It apparantly goes back to fighting the French centuries ago when the long bow was in use.

Captured archers had there fore and middle finger cut off so they could not draw the bow.  Before battle it was common place for the English archers to wave these fingers at the French (in a reverse of the recognised peace symbol) in an gesture now known in Britain to mean "F**k You"

At least that was what I was taught in my history lessons.......just after the fighting had finished......well I am getting on a bit now   

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