The UK is subject to global tax agreements which say that it cannot tax profits made by companies outside of the UK. he UK cannot then impose a second tax just because the group has its headquarters in the UK. If we did, they would all leave It would be invidious for the UK to tax profits made in other countries too. The taxes on those revenues belong to the countries where they were generated It would be wrong for another country’s revenues to be effectively seized by the UK.“Our leading politicians in all parties know very well how global tax law works and we would call on them to avoid these misrepresentations.