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Henderson Group consider move to Ireland

Posted: 28 August 2008

Henderson Group announced they are considering relocating to Ireland for tax reasons shunning Britain, which is losing its status as a business friendly environment. The company, which has reported its first half results, said in a brief statement that it was ‘looking at a change'.

"Henderson Group confirms that it is considering a potential change in its tax domicile from the UK to the Republic of Ireland," it said on its website. The move could affect the UK as a place to do business as Henderson has nearly $110.7 billion under management. It made operating profit of over $183 million in 2007.

The company could not be reached for further comment. Other firms to have quit the UK in recent months include drug-maker Shire, which said in April it planned to move its parent company to Ireland. A UK corporation tax rate of 28 percent compares unfavourably with Ireland's 12.5 percent - one of the key reasons Ireland has attracted foreign companies over the past decade.

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