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Vodafone could be the next corporate entity to leave the UK

The UK government is this evening under pressure with news that Vodafone, the world's largest mobile phone company, is considering leaving the UK and setting up a new head office overseas. The company has been in talks with the UK government for some time with regards to foreign income and how this is addressed with regards to UK taxation. Directors of Vodafone have expressed their frustration at the significant delays experienced at the hands of the UK authorities amid suggestions that the company is looking to relocate.

Over the last few months we have seen a significant number of UK corporate entities announce plans and actually move overseas because of the heavy taxation system in the UK. When you also consider the increase in the top rate of personal income tax it seems that many business people have had enough of the UK authorities. This puts Gordon Brown and Alistair Darling in a very difficult situation as they need to increase the tax take for the UK Treasury but they also need to plan ahead and ensure a buoyant UK economy when the recession finally ends.

There are fears that the UK corporate landscape is changing dramatically and not necessarily for the benefit of the government or UK consumers.

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