Oury: did Brexit or tax trigger the Unilever decision?

When Unilever decided to keep its global headquarters in the UK, many jumped on the decision as a boost for Brexit but tax jurisdiction matters are the more likely reason. Andrew Oury, partner at Oury Clark, considers the tax issues

It’s the ‘B’ word. The newest swear word to enter the English language. Definition: something that was unexpected, that is going to take an awful long time to sort out, and be incredibly annoying at the same time. Next time you bend that fender on your car, feel comfortable saying ‘Argh, Brexit!’  It is sort of the opposite of ‘Ahhh, Bisto’.

Bisto, owned by Premier foods, is actually the primary competitor to Unilever. Which makes sense, given Unilever are in the thralls of what on the outside looks like a perfect flag waving moment for Brexiteers, having backtracked on plans to move their headquarters to the Netherlands, deciding instead to remain in the UK.

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