HMRC Under Scrutiny for Google Tax Deal

HMRC’s recent special tax deal with Google is being questioned. Google’s accounts showed it made sales of £4.5 billion in the UK in 2014, with a profit rate of about 25% that’s taxable profit of around £1.1 billion to most people. But HMRC has given Google a settlement to pay a decade of back taxes for just £130 million. An effective tax rate of just 3% according to the debate on it in Parliament. Rightly or wrongly the Government risks giving the impression there is one low-tax rule for big US companies paid for by another high-tax rule for small UK business.

Eamon McNicholas
Tax Barrister, Accountant
http://www.EamonMcNicholas.com

Advertisements

About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s