United Business Media, the specialist publishing and events group, is abandoning the UK after 90 years to take advantage of the more favourable tax regime in Ireland.

The move by the company is the second snub to the UK’s tax regime in a month following the decision of drugs group Shire said to move its parent company to Ireland. Other companies including GlaxoSmithKline have also warned that the UK’s business environment may not be conducive to their staying registered here.