Cadbury owner makes £177m profit but avoids UK tax
The American owner of historic Birmingham chocolate firm Cadbury has come under fire again after it emerged it paid no UK corporation tax last year.
Mondelez UK, which took over ownership of the famous brand following the £11.7 billion buyout in 2010 by US food group Kraft, posted sales of £1.73 billion and pre-tax profit of £177 million last year.
The figures are revealed in newly filed accounts and, based on the standard tax rate, Mondelez UK should have paid around £36 million in corporation tax.
It is reported that the company avoided paying corporation tax by using legal accountancy... read more
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