TaxCorporate TaxBig companies ‘pay no UK tax’

Big companies 'pay no UK tax'

Some of the largest companies paid no tax, according to Times analysis

Some of the largest listed companies in the UK paid little or no corporation
tax in 2007,
according
to research by The Times.

The paper reviewed the accounts of a whole host of companies – including some
which have said they may leave for tax reasons – and found many had not paid tax
in the UK despite generating billions on profits.

Cadbury, Standard Chartered and British American Tobacco, with a combined
market capitalisation of £75 billion, 11,000 UK staff and more than £6 billion
in global profits, paid zero corporation tax in Britain last year, the paper
said.

The paper said there was ‘no suggestion of impropriety’, adding that many of
the companies earn the bulk of their profits overseas and pay their taxes
outside the UK, allowing them to offset those against domestic liabilities.

Further Reading:

Read
The Times article

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

2m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

2m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

4m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

4m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

5m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

8m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

8m Alia Shoaib, Reporter