Rats leaving a sinking ship?

[s2art]

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

'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.'

[Fittster]

Haven't lots of banks lost so much cash they won't have to pay much tax for the next few years?

[johnnywb]

Fittster said:

Haven't lots of banks lost so much cash they won't have to pay much tax for the next few years?

Yep, they're putting their GLOBAL losses on their UK businesses, which means they can offset a lot of the losses against tax for the next 5 or so years. Basically meaning they're not going to pay tax here for that period.

Brit Insurance are rumoured to be looking overseas as well according to City AM today.

Well done Darling, you complete and utter fkwit.

[s2art]

johnnywb said:

Fittster said:

Haven't lots of banks lost so much cash they won't have to pay much tax for the next few years?

Yep, they're putting their GLOBAL losses on their UK businesses, which means they can offset a lot of the losses against tax for the next 5 or so years. Basically meaning they're not going to pay tax here for that period.

Brit Insurance are rumoured to be looking overseas as well according to City AM today.

Well done Darling, you complete and utter fkwit.

To be fair, Darling is indeed a complete and utter feckwit but the real source of the problem is McBroon.