WPP 'considers tax-saving move to Ireland'

by Staff, Campaign 30-Apr-08, 09:30

LONDON - WPP is considering moving its operations to Ireland to reduce its tax bill, according to a newspaper report.

The Daily Telegraph today said that WPP chief executive Sir Martin Sorrell has expressed an interest in moving his company abroad.

WPP currently pays more than £200m a year to the government in tax.

The article says that businesses registered in Ireland only pay 12.5 per cent corporation tax, compared to 28 per cent in the UK.

A number of companies are considering moving abroad ahead of predicted changes to the tax system next year, which could raise tax on overseas profits.

Comments

Mark Doherty - 30/04/2008

How very sad. But why go to the expence of moving abroad. Simply sack the current firm of Accountants, and employ a "Creative Accountant" thus through their brilliant Creative Skills, WPP could actually be looking at a significantly reduced tax bill. One would have thought that Sir Martin would have worked that one out, what with being in the "creative" industry, an Industry which has made him the man he is today. Or is the potential move abroad just a "Creative" scam to gain a few headlines so as to get an audience at the treasury, a good old fashioned one to one ... so as to get a bit back, and possibly, who knows, spead up his "Peerage" for being such a good chap for staying in the UK afterall . Mark Doherty