Betfair looking to move outside the UK after their IPO?

Is that before or after it goes south?

Who will be resisting exactly, be a new set of faces IMO

I agree. My guess is that the founders (Bert, etc) were keen to keep the company here and 'do the right thing', but they are less involved with the company now. All the newcomers will just be determined to squeeze as much profit out of the company as possible.

The document groups the Betfair valuation into 'proven', 'probable' and 'possible', with the tax avoidance listed under 'probable'. I suspect they're right.

have they removed the slide I cant find the one you mention 

It's the slide on the right, the entry 'GPT - reduction', if I'm reading it correctly.

ok thanks got it. It dwarfs any other of the figures. Be silly not to consider moving HQ to a more tax efficient country

I think the long term betfair moving is probable, but not in the short term.

In terms of betting we have a mature industry in this country and as a consquence we have a reputation and a domestic skill set that is hard to find abroad at the moment.

Long term I cant see this lasting as other countries catch up and our own big bookmakers continue on their path to self destruction.

However there is no where at the moment that could absorb the skills needed of 2000 betfair employees, gibraltar would be out of the question as there would be no where to physically fit that amount of people on the peninsular.

Another problem would be wages, I've been offered positions abroad before and been offered a paltry wage, when questioning this, i get told "we pay local wages", to which I reply "then employ local people then"

They wouldn't have to move everything offshore, just copy what the other bookies do. If the Betfair computers are moved to a datacentre in the Isle Of Man or Malta, then presumably they can skip paying taxes/levy on the betting that takes place there. Most of the staff can still be in the UK.

They already do this for the casino/games stuff.

Facebooks & Googles European HQs are pretty much a small office in Dublin. Imagine these companies are quite nibble at moving around for tax purposes or for 200m can employ someone who is.

betfair already offshore...everyone bets into malta ,just not betfair UK punters who still bet into UK

Interesting brief article about Betfair's valuation:

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http://ftalphaville.ft.com/blog/2010/10/06/361941/betfair-goes-west/
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The slides claim that Betfair could save £378 million from moving outside of the UK's tax regime. When the company floats, how long do you think they will resist doing this before the new investors demand the tax savings?

Is the most relevant part of that article not "(Note: Numis is one of the co-lead managers on the IPO)."

They have announced they are opening a call centre, office and data centre in Dublin. Surely this is a low tax alternative jurisdiction in which the necessary talent pool would be available? Lots of clever, ambitious graduates about not averse to gambling without too much else on the menu in the wake of the collapse of the "Celtic Tiger" banks/economy. Will presumably start by headhunting daq payroll.

They dont need to move anyone its. Just head office the tech staff would stay where they are.