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Multinationals in tax dispute

13.11.12

Google, Starbucks and Amazon are the most recent household names to be added to a growing list of multi-million pound businesses which don't pay the right amount of tax in the UK.

Despite each company making large turnovers each year, they reported just a small profit, or even a loss, on their UK sales. Google paid only £6million on a £395million turnover in the UK in 2011, according to The Daily Telegraph. Furthermore, according to Reuters, Starbucks has paid just £8.6million in UK tax over 14 years and apparently only made a taxable profit once over that time.

Facebook, eBay and Apple have also been criticised for the way they account for their UK taxes.

As a self-employed contractor, it's considerably easier for you to get your tax right. If you need any help with either this or previous year's self-assessment returns then Taxback.com can help. Click here for more information and to benefit from a reduced fee for their services.

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