WPP set for return to UK in January
WPP is planning to return its tax base to the UK from Ireland in January, if at least 75% of voting shareholders approve the move at a meeting on 11 December.
Sir Martin Sorrell: group chief executive of WPP
The move involves the creation of a new parent company for the WPP Group, called New WPP, which is intended to have a neutral effect on share ownership and executive share plans.
In its announcement, WPP also provided a brief update on trading, revealing that flash revenue numbers for October indicate like-for-like revenue growth "at a similar level to the third quarter [which was 1.9%] and better than September".
The company revealed in August that it was planning the shareholder meeting to approve the return, which WPP considered after the coalition Government reformed rules on the taxation of foreign profits that were introduced by the former Labour government.
WPP, which makes nearly 90% of its revenue outside the UK, moved its headquarters to Ireland in 2008 in response to Labour’s change.
Sir Martin Sorrell, the WPP chief executive, said at the time: "It was a significant economic decision. It is a difficult decision, but it was one the board felt it had to make in the interests of shareholders."
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- senior planner > SPORTS BRANDS collectivo Up to £90,000 plus benefits, London
- Head of Media, Marketing & Communications PGA Competitive, Sutton Coldfield, West Midlands
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
- Senior Planning Director, International Agency, London, to £120k Fill Recruitment Ltd to £120,000, Central London
- Head of Customer Analytics - Consultancy Harnham £90000 - £100000 per annum + benefits, London
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...