BusinessCompany NewsTax advantage not enough for NTL’s ITV deal

Tax advantage not enough for NTL's ITV deal

An NTL/ITV merger could have led to a zero income tax bill

NTL
has revealed that it could have offset its own tax losses against intended
acquisition ITV’s profits to accrue no income tax for several years.

Its tax losses could have been used against ITV’s £100m profit, which would
have led to a zero income tax bill, according to
The
Times
. Last year ITV’s tax bill was £85m.

Despite the tax advantage available to the cable
company through the deal, NTL pulled out of its intention to bid for ITV.

Further reading:

Almost half of UK tax law targets
avoidance

Vodafone launches search for deputy tax
director

Vodafone licks lips at Cadbury judgment

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