INEOS plans to move its headquarters back to the UK – after six years in Switzerland.
Businessman Jim Ratcliffe is reported to have told the Daily Mail that he intends to move the company back “within three years” with an office in London forming its global base.
In 2010, INEOS left the UK as it looked to save £317.5million in tax.
It is understood the firm will return to its British base after more attractive financial conditions became available.
INEOS had previously fallen out with the then Labour Government when it had refused to let the company defer a 350m VAT payment.
The move also comes as the company said it was hopeful a ban on fracking would be lifted in Scotland in the near future.
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