File - A man walks past Pfizer's world headquarters in New York April 28, 2014. (REUTERS/Andrew Kelly)
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However, following recent legal changes whereby Britain largely stopped seeking to tax corporate profits reported in other countries, including tax havens, companies are increasingly choosing the U.K. as a corporate base.President Barack Obama and Congressional Democrats have proposed measures to stem the flow of so-called "inversions," although Congressional gridlock on tax reform means new barriers to overseas moves are unlikely anytime soon.There is no official list of companies which have moved their tax base to Britain but government officials, tax advisers and lawyers said at least seven had rebased to London – Aon PLC, CNH Global N.V., Delphi Automotive PLC, Ensco PLC, Liberty Global PLC, Noble Corp. PLC. In November, Ernst & Young, one of a number of tax advisers which advocated the tax changes that made Britain a magnet for U.S. corporations, published a survey saying that 60 multinational companies were eyeing a move to the U.K.Filings at the U.K. companies register say CEO Michael Fries resides in the United States while media reports cited the company as saying Liberty's takeover of Virgin Media, which was cited as part of the reason for rebasing to Britain, would lead to 600 job cuts.Only 14 percent reside in Britain, up from 4 percent before the companies moved, company filings, records at the U.K. companies register and other company statements show.Aon and Liberty Global – the only two companies which published figures for group U.K. tax payments – reported U.K. corporation tax credits for 2013 .Ensco had a U.K. tax charge of $200,000 last year. CNH does not publish U.K. tax payments.
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