Media giant UBM is to end its four-year exodus from the UK by moving its headquarters from Dublin back to London after shareholders unanimously voted in favour of the shift.

The media and marketing services company, which organises exhibitions, trade shows and conferences, said its board of directors believed the current legislative framework in Britain represents a significant improvement for multinational groups.

Chancellor George Osborne announced he would change the rules last year in a move that will see the Treasury lose an estimated £2.8bn over the next five years on corporation tax on overseas profits.

The new rules, which will kick in in January next year, are set to make the UK a more competitive environment for multinationals to operate in. Under the changes, a charge will only kick in on the proportion of any overseas profits 'artificially diverted' from the UK.

The company announced that it expects to become a UK tax resident from 30 November subject to final details being thrashed out by its lawyers. It has already stated that such a move would have no change on the group's effective tax rate.

UBM, which moved to Ireland in 2008, was one of several large companies that left the UK in protest at the prospect of "double taxation" rules on overseas profits. The Irish Republic's corporation tax of 12.5% was a key attraction for foreign companies, when compared to the UK rate of 24%.

In August, advertising agency WPP said it would relocate to the UK after a four-year tax exile in Ireland.

WPP's board has already agreed the return to the UK and shareholders will vote on the issue in December.