Big firms could move bases away from UK

HALF of Britain's top 30 firms have looked at shifting their tax base offshore and a handful are actively considering such a move, it was claimed yesterday.

The threat of an exodus that could cost the state billions comes a week before Treasury discussions over reforms to the taxation of foreign profits – a key area of contention for big firms.

Last week Unilever and Diageo fuelled the debate by warning they could move overseas if the tax regime worsens. Of the top 30 companies in the FTSE 100 Index, 15 told a Sunday newspaper that they were keeping their tax domicile status under review.