Daily Mail owner moves assets offshore ahead of Budget

The owner of the Daily Mail, DMGT, has transferred hundreds of millions of pounds in assets to an offshore parent company ahead of the November Budget. This restructuring involved selling subsidiaries to Rothermere Continuation Holdings for an intercompany dividend of £906m. The move aims to align DMGT's structure with its international activities, while UK operations remain unaffected. This comes as businesses prepare for potential tax hikes, with economists predicting Chancellor Rachel Reeves may need to raise up to £50bn to address a fiscal shortfall.