B&Q flagged as target for tax protests
Published: 08 December, 2010
LONDON: Kingfisher is one of the companies singled out as likely targets for future protests against corporate offshore tax avoidance by action group UK Uncut.
UK Uncut, part-run through social network Twitter, has prominently featured Cadbury brand owner, Kraft's proposal to move Cadbury's headquarters to Switzerland to reduce its tax spend.
Kingfisher, which owns the B&Q DIY brand, is said to be considering a similar move to save an estimated £30m in tax.
At the weekend UK Uncut successfully closed the flagship Topshop store on Oxford Street in London, and a number of other stores around the country.
Arcadia was chosen because chief Sir Philip Green aggressive moves to reduce the group's tax spend, but also advises the coalition.