Business Tax

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Tax | Shop Direct Group must pay corporation tax on £125m VAT refund

The Supreme Court has ruled that catalogue company Shop Direct Group (SDG) must pay corporation tax on a £125m VAT repayment relating to overpayments made over many years by companies in the Littlewoods corporate group which no longer trade, confirming earlier rulings handed down by the First Tier Tribunal, Upper Tribunal and Court of Appeal, reports Pat Sweet

Tax | HMRC and PAC go head-to-head over Google tax deal

Ahead of tomorrow’s session of the Public Accounts Committee (PAC), which is set to examine the recent £130m deal with Google to settle back tax, HMRC has published a factsheet outlining its approach to handling the tax affairs of large companies, saying it wants to ‘help dispel myths’ which have arisen about how HMRC ensures compliance among multinationals

Tax | Starbucks pays £8.1m in UK corporation tax

Multinational Starbucks has seen its UK arm pay £8.1m in corporation tax in 2015, almost equivalent to its entire tax payment over its first 14 years in the UK, after responding to pressure to scrap its complex tax structures and the decision to relocate its European HQ to the UK 

Tax | UK’s biggest businesses pay £80.5bn tax bill

The UK’s biggest companies made a total tax contribution of £80.5bn this year, and are paying higher rates of tax than previously despite the continued reduction in the corporation tax rate, according to analysis by PwC for the 100 Group of finance directors which suggests property and employment taxes are becoming more significant
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