Fears of a corporate exodus from Britain were reignited on Wednesday when Henderson Group, one of Europe’s largest investment managers, said it was considering moving its tax base to Ireland.

Its announcement underlined concerns about the waning competitiveness of the UK tax system, which led to the departure of two multinationals in the spring. Many others are examining their options, including Brit Insurance, which on Wednesday confirmed it was “actively considering the issue of tax domicile”.