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UK Welcomes Shell’s Tax Shift to Britain
Published by maria gbaf
Posted on November 16, 2021
1 min readLast updated: January 28, 2026
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Published by maria gbaf
Posted on November 16, 2021
1 min readLast updated: January 28, 2026
Add as preferred source on GoogleShell's tax move to the UK simplifies its structure, boosts shareholder payouts, and signals confidence in the British economy.
LONDON (Reuters) – Britain’s business minister has welcomed a decision by Royal Dutch Shell to scrap its dual share system and move its tax residence to the UK, saying it is a vote of confidence in the national economy.
Shell said earlier on Monday it would scrap its dual share system in favour of a single class of shares to boost shareholder payouts and simplify its structure, as the energy giant battles calls from an activist investor to split up.
“Welcome news Shell is proposing to relocate its Group HQ to the United Kingdom as part of their plans to accelerate the transition to clean energy,” Kwasi Kwarteng said on Twitter.
“A clear vote of confidence in the British economy as we work to strengthen competitiveness, attract investment and create jobs.”
(Reporting by Kate Holton; Editing by Alistair Smout)
The main topic is Shell's decision to move its tax residence to the UK, simplifying its structure and boosting the economy.
Shell aims to simplify its share structure, increase shareholder payouts, and show confidence in the UK economy.
The move is seen as a vote of confidence, potentially attracting more investment and creating jobs in the UK.
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