Tax-exile UBM ready for return to Britain

Media and marketing services company UBM yesterday said its shareholders had approved a proposal to return the firm's tax base to the UK after four years in Ireland.

The 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.

UBM said it expects to become a UK tax resident from 30 November.

Earlier this month it said the move would have no material adverse impact on the group's effective tax rate or tax cash outflow for the foreseeable future.