Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
Meanwhile, our tiny two-person not-for-profit pays at the full rate and one of our highest costs is our accountant.
Did you hear about the village in Wales, where all of the local businesses grouped together to hire an accountant+lawyer to exploit the same loopholes that the large companies are using?
They set up an offshore company in the Isle of Man that used identical structures to the large corporates, and used the same tax breaks.
Expensive to do for a single business, but when you have 20 local businesses sharing the costs, it's affordable.
HMRC freaked! :D
@BillySmith Hahaha, I don’t know whether to laugh or cry, really. Good on them, I guess. But bloody hell, this world… :)