Thames Water has been under scrutiny for many years for having subsidiaries in the Cayman Islands. Businesses in the Cayman’s are well known for having large tax benefits. Thames Water insists that the subsidiaries are not there for tax benefits but agrees that bad connotations are associated with businesses in the Cayman Islands. They say they are committed to becoming a more open company and withdrawal from the Cayman Islands may be part of that process.

Key Takeaways:

• Thames Water has been upsetting local residence due to paying out vast dividends and polluting water.
• The company is planning to segue away from the Cayman Islands to help restore their reputation.
• They were fined over 20 million Pounds for polluting the River Thames.

“The group has been under fire, including from the industry regulator, for paying out vast dividends while loading the company up with £10billion of debt and polluting UK waterways.”

Read more: https://www.thisismoney.co.uk/money/news/article-4766036/Thames-Water-turns-Cayman-Islands-tax-haven.html