Boots Paying Taxes in Nottingham or Switzerland?

There is criticism by some of Boots, the Nottingham chemist and pharmaceuticals company, that it does not pay its fair share of UK taxes. This after it de-domiciled to Switzerland following a private equity buyout. Boots, now part of an international conglomerate, says its pays all the taxes due where it operates. The root of the problem is fairness. What if a small family-run pharmacy in the UK told HMRC that its tax was down because it had, perfectly legally, just de-domiciled overseas? Almost certainly HMRC would take harsh action against them. Boots just takes advantage of a two-tier UK tax system that looks like it favours non-UK business over traders based in the UK. So maybe it is Parliament that has the explaining to do.

Eamon McNicholas
Tax Barrister, Accountant

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
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