Caffè Nero paid no corporation tax in the last financial year despite profit of £23.6m



Coffee shop giant Caffè Nero paid no corporation tax in the last financial year despite making a profit of £23.6million.
The company, which has hundreds of branches across Britain, saw sales in the UK and Ireland grow by 8.5 per cent to £241million in the 12 months to May 31, 2015.
But it did not pay a penny in corporation tax on its £23.6million profits as these were offset against interest payments on debts held by its parent company. Caffè Nero has not paid corporation tax since 2007.
The directors admitted that no corporation tax was paid for the year as ‘the group is part of a wider... read more

 
5 March 2016 in Business, Views: 50
Source: Daily Mail
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