TaxCorporate TaxDanny Alexander “livid” about tax avoidance

Danny Alexander “livid” about tax avoidance

Danny Alexander calls on tax avoiders to "stop it"

Danny Alexander “livid” about tax avoidance

DANNY ALEXANDER said he is “livid” with the tax avoidance activities of energy companies, adding that he would like them to “stop it”.

Appearing on the BBC‘s Andrew Marr Show, the Liberal Democrat chief secretary to the Treasury (pictured) insisted everyone needs to pay their “fair share” after it emerged three energy companies had avoided around £140m through reducing taxable profits by racking up interest in debt from their owners.

There has also been anger that energy companies are able to hold onto sums from customers’ monthly payments over the amount owed or power used, allowing them to earn interest as it sits in their accounts. It is thought as much as £2bn is held in such a way.

“My message to any company that is engaged in aggressive tax avoidance is to stop it,” Alexander said.

“People are rightly livid about companies and individuals avoiding paying the proper amount of tax. I’m livid about that. It’s something which is not acceptable at any time, but particularly at a time when we are going through tough spending choices. Everybody needs to pay their fair share.”

Related Articles

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

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

2w Alia Shoaib, Reporter
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

3w Alia Shoaib, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3w Clear Books | Sponsored
Colin: Tell them about the money, mummy

Business Regulation Colin: Tell them about the money, mummy

11m Taking Stock
Five key tax and business burdens the chancellor must ease in Autumn Statement

Business Regulation Five key tax and business burdens the chancellor must ease in Autumn Statement

11m Kevin Reed, Writer
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

4w Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

1m Emma Smith, Managing Editor
Autumn Statement: Investment and tax avoidance highlighted in Hammond's speech

Corporate Tax Autumn Statement: Investment and tax avoidance highlighted in Hammond's speech

11m Kevin Reed, Writer