Half of the UK's top 30 businesses are re-evaluating their tax status and some are considering moving their operation bases overseas, according to new research.
The Sunday Times has found that 15 of the FTSE 100 index's top 30 firms would keep their domicile status under review and three claimed they were pro-actively investigating the benefits of moving their businesses abroad to reduce their tax outgoings.
According to the news provider, if the companies decide to jump ship, the Treasury could lose out on billions of pounds in revenue.
Speaking to the paper, Chris Sanger, from accountancy firm Ernst & Young, said: "It is a fact of life that companies are regularly evaluating where they are headquartered."
"They are asking why are we where we are, and balancing the risks and costs of moving with the savings to be made," he added.
Earlier this month, a meeting of the G7 nations in Canada was convened to discuss the possibility of imposing a levy on the sector in order to protect against the possibility of another financial crisis.
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