"Many Photos" - P&O declares ships will sail under Cyprus flag because of Brexit

British ferry giant P&O will re-register its ships under the Cyprus flag to avoid extra checks after Brexit.

The cruise company has been based in Britain since the 1820s, but company bosses said it will be re-flagged so it can still benefit from EU tax arrangements.

While Sony announced it is shifting its European headquarters from Britain to the Netherlands to avoid Brexit-related customs issues.

It comes after billionaire Brexit-backing vacuum tycoon Sir James Dyson sparked fury by announcing he is relocating his HQ to Singapore. 

A P&O spokesman said: 'In advance of Britain leaving the European Union on March 29 2019, we undertook a review of the flag status of our ships on the English Channel.

British ferry giant P&O will re-register its ships under the Cyprus flag to avoid extra checks after Brexit (pictured, a P&O ship)

'For operational and accounting reasons, we have concluded that the best course of action is to reflag all ships to be under the Cyprus flag.'

He said the Cyprus flag is on the 'white list' of both the Paris and Tokyo Memoranda of Understanding.

This means it will result in fewer inspections and delays and 'significantly more favourable' tax arrangements

He added: 'We have no plans to make any other changes, including the terms and conditions of any of our seafarers, as a result of the new arrangements.'

The company, best known for its vacuum cleaners and other domestic appliances, is working on developing an electric vehicle in the Asian nation

The company had already re-registered two of its ships to Cyprus last month 

The RMT trade union has previously described P&O's reflagging of UK ships as 'pure opportunism'.

The union claims the firm's 'long-term aim has always been to switch the UK fleet to a tax haven register'. 

P&O has six UK-registered ships operating on the busy English Channel route to France.

All commercial ships have to be registered, or flagged, with a country partly to comply with safety and environmental regulations.

It could be a blow to the Government's attempts to buy up ship space to ensure vital goods - like drugs and medical equipment - can get to Britain if there is a no deal Brexit. 

The announcmenet came just hours after Dyson decalred that it is moving its headquarters to Singapore.

The vacuum cleaner firm insisted the decision has nothing to do with Brexit or trying to take advantage of lower taxes. 

Instead they said that the electronics firm wants to be nearer the expanding Asian markets. 

But the decision was blasted by campaigners and MPs, who accused Sir James of 'staggering hypocrisy'. 

Sir James was one of the loudest business supporters of Brexit at the 2016 referendum and when the talks stagnated in 2017 he urged Theresa May to 'walk away' and embrace leaving Europe. 

Lib Dem MP Layla Moran blasted the move, saying: 'James Dyson can say whatever he wants but he is ditching Britain. 

'This can only be seen is a vote of no confidence in the idea of Brexit Britain.'

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News Photo P&O declares ships will sail under Cyprus flag because of Brexit
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