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Oval sponsor Brit mulls tax move abroad
18.08.08
Brit insurance, sponsor of the Oval cricket ground, is the latest UK company to look at moving its headquarters from the UK to a more favourable tax regime.
It has appointed accountants Ernst & Young to advise it on its options, with Switzerland, Ireland, Bermuda and the Cayman islands possible destinations.
Several other Lloyd's insurers have already shifted domicile, including Hiscox and Omega. The largest, Amlin, has threatened to leave. Two companies that are members of the FTSE 100, pharmaceuticals group Shire and publisher United Business Media, have quit Britain to lower their tax bills.
