Peter Truesdale

FTSE100 pays less tax. Blame George Osborne

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Peter Truesdale
18th January, 2013, 10:29 am

Accountancy Age has a scoop.

No, honest it has.

The scoop is Tax Rate of FTSE100 companies drops for fourth year in a row.

That’s it then!

Let’s throw red paint over the counter at HSBC! Occupy the M&S food hall! Get Granny to superglue the lock on the doors at Tesco. Greedy capitalists!

Errr, no.

In fact the UK government has slashed the corporation tax rate from 28% to 24%. (And its going down to 21% in 2014).  The UK’s not alone. Other countries are cutting their headline rates too.

Hmmm.

Tax isn’t just about dodgy dealings. It’s a complex issue with companies, governments and wider society all involved.

But don’t worry.

As long as corporates decline to explain, they can bear all the blame.

Right I’m off to help Granny. She can’t get the top off the superglue.


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