Brit Insurance, the Lloyd's of London underwriter, will decide within the next six months whether to move its tax headquarters away from Britain, increasing pressure on the Government to act to stem a potential wave of corporate departures, The Times reports.
Dane Douetil, Brit's chief executive and a leading figure on the Lloyd's market, said that the insurer was serious about the prospect of quitting Britain for a more competitive tax regime, such as Dublin or Geneva. He said that Brit had hired advisers to examine its options. As well as Ernst & Young, the auditor, a banking adviser and other corporate consultants have been retained. THE BRITISH ECONOMY will contract in 2009 in its first full year of recession since the early 1990s, one of the country's leading economic forecasting groups said today, according to The Guardian. Capital...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
