Aberdeen Asset Management is considering abandoning the UK as its headquarters for tax purposes as speculation mounts that a wave of British fund managers could head for the exit in frustration at Treasury tax changes, The Times reports.
Aberdeen has been based in the Granite City since 1987, when it was formed out of a $50m investment trust in a management buyout led by Martin Gilbert, the chief executive. Losing the company, which yesterday boosted its funds under management to £114bn through the acquisition of a property business, would be a big blow to the Treasury. The list of companies that are threatening to leave the UK because of its unfavourable tax levies has increased almost by the day in recent weeks. THE CHAIRMAN AND chief executive of the Financial Services Authority both criticised the Government yester...
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