In a statement to the London Stock Exchange, HDWI, which is based in Jersey, said that since the launch of the company in 2006, and its Luxembourg subsidiary, there have been developments in Luxembourg tax legislation in regards to transfer pricing.

The company and its board reviewed these developments and concluded that the company’s existing structure may involve increased complexity and risk.

If the move to the UK goes ahead a new company will be formed in the UK, with the current Jersey company and Luxembourg subsidiary being liquidised to reduce annual running costs.

There would be no changes to the investment management team.

The company said: 'The board is exploring the possibility of simplifying its tax structure by electing to join the UK investment trust company tax regime, including changing its place of incorporation to the UK.’

Multi-national companies such as Apple, Starbucks and Amazon, have previously been accused of unfairly reducing their tax bills by directing services through offices in places such as Dublin and Luxembourg that have low tax jurisdictions.

Shareholders are expected to be updated on the transfer of the company later this year.