tax bill news and archive

Gap questioned over UK tax bill shrinking tactics

London - US fashion retailer Gap is currently under fire for reportedly enforcing a number of financially planned steps to diminish its tax bill in the UK. According to Evening Standard, Gap has paid nearly no corporation tax, once rebates have been taken into account, since 2011 in spite of generating sales of over 1 billion pounds. An analysis...

Member

Business

Next slammed with 22.4 million pound tax bill

Next has been slapped with a 22.4 million pound tax bill after a court found the high street retailer guilty of using a tax avoidance scheme known as a rate-booster. The court stated that Next had diverted UK profits to foreign subsidiaries which would allow the company to claim tax relief on overseas profits. These schemes help companies avoid...