Reply to post: Here we go again...

Google UK coughs up £130m back taxes. Is it enough?

The Godfather

Here we go again...

Usual clamour yet nothing really gets done to curb tax mitigation loopholes and worse, the crafty movement of profit out of the U.K. To more favourable tax locations. HP UK for example files financials that suggest a good whack of corporation tax. However, it's immediate and ultimate UK Parent 'funds' HP UK and does so by borrowing huge sums of money from abroad and pays equally huge amounts of interest, net result is a huge loss and therefore a net zero UK corporation tax liability. HP are not the only one by any means and these practices extend even to distributors too.

I get totally cheesed off when the media shouts about the usual suspects but carefully avoids naming so so many others, including banks and financial institutions. Either close the gaps or stop bleating.

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