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Tax drain

18 June 2008
Issue: 4163 / Categories: Forum & Feedback
Can smaller businesses 'emigrate' in the same way as larger companies?

What with all the news in the press recently of various UK companies becoming 'non resident' by moving offshore I have had several clients in recent weeks asking me whether they can do something similar to reduce their company tax bills. They have all been director/shareholders of family companies with decent sized turnovers.

The directors themselves have expressed no great desire of becoming non resident but I suppose as and when they reach retirement age that might be something they would consider in the future if there was a financial advantage. Most of these clients are UK domiciles but at least one could probably claim to be non-domiciled if there was a tax benefit.

If this reduction in UK corporate taxes is so easy for large corporates to achieve why aren't small/mid-size companies doing the same thing? Or is it that the...

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