WPP not planning UK return

first_img Share Tags: NULL Monday 29 November 2010 9:02 pm LEADING marketing agency WPP is unlikely to return its tax base to the UK even if the Treasury reforms the corporate tax regime, it emerged yesterday.Sources close to the company said it would not be bounced into a “knee-jerk” reaction over the reform of controlled foreign company tax (CFC).WPP moved its tax base to Ireland in 2009 citing the CFC regime as the reason. Since then several other companies have followed including Henderson Group, pharmaceutical firm Shire and United Business Media. There have been hints that WPP could return its tax base to the UK, and George Osborne also made a personal plea to Sir Martin Sorrell, WPP’s chief executive to do so in June.But a source told City A.M: “There can be no guarantees. Whatever this administration may put in place with regard to CFCs, the danger is what happens if this administration isn’t in power?” “WPP is pretty supportive of some of the things this administration has done, but there is no knee jerk reaction to these moves; there can not be any guarantees”Meanwhile, Shire said it would remain cautious as to the proposed reforms. A spokesperson said: “We will follow the development of any UK proposals, and when we see any actual legislation we will consider its implications.” Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof whatsappcenter_img whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider WPP not planning UK return KCS-content last_img

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