TAXING ISSUES FOR UK

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On Tuesday shareholders in the building supplies giant Wolseley are due to vote on whether the company should move its financial headquarters from Britain to Switzerland in a bid to reduce its tax bill. Wolseley would not be the first big company to decamp from the UK to a country with a lower corporation tax rate, but it is the first one to announce a planned move since the election of the Conservative-Liberal Democrat coalition in May. The plans have caused concern amongst some business advocates in the UK, who say the government must make the country’s tax system more business friendly, or risk an exodus of companies moving overseas. However not everyone is panicking about the move, as Catherine Drew reports from London.

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