http://www.telegraph.co.uk/finance/n...-concerns.html
McDonald's, the fast food giant, will join the ranks of companies quitting the UK when it moves its European headquarters to Geneva later this year.
McDonald's said the move "enables us to conduct the strategic management of key international intellectual property rights, including the licensing of those rights to our franchisees in Europe, from Switzerland".
Changes to the taxation of foreign profits linked to intellectual property rights such as patents and trademarks, announced in this year's Budget, led publishing company Informa to move its tax residency to Switzerland earlier this year.
The company has said it would end up paying twice, because of a UK tax on dividends from intellectual property rights abroad.
Home-grown UK companies have also upped sticks in recent years, in search of more favourable tax regimes. The list includes Regus, the temporary office supplier, which has moved to Luxembourg, advertising giant WPP and pharmaceuticals company Shire which are both relocating their headquarters to Ireland, and Brit Insurance, which plans to move to the Netherlands. Investment company Henderson set up a new parent company in Ireland to pay less tax.
Well done Mr Brown. Keep these nasty capitalist companies out of our socialist land.
