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Sunday
May232010

Insurance Experts Demand an End to Companies Fleeing to Offshore Locations after the Election

The controversy over UK businesses leaving the country because of the tough tax laws in place here has been raging for some time now.  I’ve noticed that the heat has been turned up under this topic the closer we get to the General Election as well.

The increases in taxes and National Insurance have meant that many UK businesses have already left the UK, with more no doubt planning to follow in the near future.  But while such a move is understandable for many businesses, experts are worried that the long and short term consequences will lead to Britain suffering in the business world.

Ireland and Switzerland are the top destinations of choice when UK companies are looking to move their operations overseas, and I call recall reading about several companies of late that have relocated to these countries.  But if the exodus continues there will be no businesses left in the UK to tax.

The main task here is surely to make the UK attractive as a place to start a business.  We must encourage work to begin and continue here if we want to strengthen the economy and bring new jobs to the country.  With businesses leaving the UK to avoid our high taxes we are not only losing revenue, we are losing jobs as well.  Many experts also believe that other companies from abroad could also be enticed into the UK if it were made more attractive to them.

If you are considering the future of your own business you may contact us at St Matthew now to discuss your options.  We would be pleased to hear from you.

 



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