The deal, with French-owned Bank Societe Generale, began on 4 December and will initially last for five years.
The deal, which takes advantage of a loophole in Section 222 of the Capital Allowances Act, is believed to be one of the biggest of its kind.
A spokesman for BT said: ‘This sort of transaction represents a well-trodden path by many companies over a number of years, and provides an efficient form of financing for our network operations, which generates value for the group.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states