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High taxes mean Insurers consider leaving UK
Mr_Matey
Posts: 608 Forumite
Nothing too new, companies move for tax reasons all the time. But something for those who are sick of hearing about the banking industry moving. 
Wall Street Journal:
http://online.wsj.com/article/BT-CO-20100125-709903.html
http://www.businessweek.com/news/2010-01-19/chaucer-may-leave-u-k-as-lloyd-s-of-london-insurers-flee-tax.html
Wall Street Journal:
http://online.wsj.com/article/BT-CO-20100125-709903.html
- Other financial centres are looking more and more attractive to businesses. The article mentions the Netherlands, Ireland and HK.
- The UK needs to ensure it retains such businesses.
- The insurance industry contributes £8.2bn in UK tax.
http://www.businessweek.com/news/2010-01-19/chaucer-may-leave-u-k-as-lloyd-s-of-london-insurers-flee-tax.html
- Non-UK domiciled insurers have an advantage over their peers
- A few are considering moving purely for tax reasons.
0
Comments
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The Bahamas is the traditional off-shore place for re-insurance AIUI.0
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