The innovative fan, heater and vacuum cleaner manufacturer will no longer pay as much tax in the United Kingdom
The headquarters and tax base of Dyson are to leave British shores and relocate to Singapore, in a move that the company claims has nothing to do with Brexit.
Based in Malmesbury, Wiltshire, Dyson made headlines last year when announcing its intention to build a new range of electric cars in Singapore, having first made movements to open factories in Asia back in 2002.
This is despite founder James Dyson, 71, being a large proponent of Brexit with the firm arguing that a £200 million investment on new testing facilities at Hullavington Airfield, near Chippenham, shows their commitment to domestic jobs.
Chief Executive Jim Rowan said after Tuesday’s announcement: “The move is nothing to do with Brexit or tax, it’s about making sure we are future proofed. There are huge revenue opportunities in Singapore, China is the poster child of that.
“The tax difference is negligible for us, we are taxed all over the world and we will continue to pay tax in the UK. We will continue to invest in the UK, in Malmesbury, in Bristol and London.”
Dyson reportedly receives around £1.6m a year in EU farm subsidies for sites operating his Beeswax Dyson Farming business, funds he is said to be keen not to lose even after Brexit.
Back in 2017, he told the Andrew Marr show on the prospect of a no deal Brexit: “If you walk away they’ll come to us because they want to export all their products to us.
“They will come back to us. We are in a very very strong position, incredibly strong position. We shouldn’t give them any money, we should just walk away and they will come to us.”
