Two major British companies have this morning said they plan to move their tax bases to Ireland.
Charter Group, which owns international engineering businesses and has revenues of more than €1.8 billion, is to set up a new holding company for in Ireland for tax reasons.
In a statement, it said will lead to a lower tax rate and lower tax compliance costs than would be achievable if the group's parent company were to remain in the UK.
Separately, one of Europe's largest asset management companies, Henderson Group, has confirmed it will move its tax base to Ireland. The company already has a small operation in the IFSC.
