As we break into summer, a lot is concentrating our minds at GBN.
Switzerland: More top UK companies to relocate to Switzerland?
In an effort to reduce their tax liability, a recent survey reveals half of the top 30 UK firms would consider relocating abroad. The Swiss canton of Lucerne is working alongside external consultants to attract British companies and individuals by promoting their low corporate and personal taxation rates and will host a meeting in central London at the end of June, targetting these groups.
Hedge Funds have expressed particular interest in moving on account of their relative ease of mobility and the low rates of personal income tax in Switzerland. Bluecrest moved 50 top staff to Geneva in January while Brevan Howard, another Hedge Fund, has also already moved to open an office in the country.