Another UK-based company seeks tax refuge offshore
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Following confirmation yesterday that Henderson Group are relocating
operations offshore for tax reasons, Regus has also joined the list of those
moving abroad.
According to a
report
on telegraph.co.uk, the FTSE 250 company has announced its plans to move its
domicile to Luxembourg.
The business currently has a market value of nearly £720m.
In May this year, chancellor Alistair Darling set up an international tax
forum and met the chief executives of some of Britain’s biggest companies in a
bid to prevent an exodus of companies from the UK.
Regus operates over 950 business centres across 400 cities in 70 countries,
and products and services include fully furnished, equipped and staffed offices,
business support services, meeting conference and training facilities.
The company is run by former hot dog salesman Mark Dixon, who is based
offshore in the tax haven of Monaco.
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