Hargreaves eschews FTSE 100 taste for tax havens

According to a report by charity ActionAid, the FTSE 100 businesses have a combined total of 34,216 subsidiary companies, a quarter of which are in tax havens, including 600 in Jersey, 400 in the Cayman Islands and 300 in Luxembourg. The 'big four' banks alone have 1,649 companies in tax havens, while the biggest tax haven user overall is advertising company WPP, with 611. The only FTSE 100 businesses which do not have any subsidiaries in tax havens are Hargreaves Landsdown and gold and mining company Fresnillo. Hargreaves spokesman Ben Yearsley said the report was "not particularl...