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Companies leaving the UK

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Baker Tilly observed that last year Cadbury paid UK corporation tax of around £197 million, and that the company has now announced plans to move its headquarters to Zurich ‘to take advantage of Switzerland’s more competitive tax regime’.

Cadbury’s liability ‘will be cut in half’ by moving to Zurich, the firm said, adding that the company ‘follows in the footsteps of at least 20 other large companies who moved abroad in 2010 to reduce their tax burden’.

The firm listed those companies as: Ineos Runcorn UK, WPP, Shire, Informat, PepsiCo, Aberdeen Asset Management, Hendersons Ireland, Charter, Regus, Brit Insurance, Wolsely, McDonalds (European HQ), UBM, Kraft Foods, Gallaher, Experian, Catlin, Hiscox and Shell.