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WPP set for UK return

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The world’s largest advertising and marketing group, WPP, has announced that it is planning to move its headquarters back to the UK, after the government committed to reforming the country’s controlled foreign company (CFC) rules.

Speaking last week, Sir Martin Sorrell, chief executive of the advertising company, said he was delighted to say he thinks the last remaining issues with the UK’s tax regime have been removed, subject to legislation being introduced in parliament.

"We will be coming back subject to shareholder approval," said Sorrell.

WPP re-domiciled to Ireland in 2008 in reaction to what it saw as overly strict taxation of overseas profits and the UK’s uncompetitive corporate tax rate.

Further reading:

Why taxpayers should consider relocating to the UK

COMMENT: Why the UK’s tax regime means it is open for business

Why the future of UK CFC reform is looking bright

The real reason Aon is moving its headquarters to the UK

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