Consumer anger continues to build up over the way that large companies such as Google, Facebook, Apple, Netflix and Mondelez (owners of Cadbury) can easily, and currently legally manipulate their accounts for their UK operations to pay little or no tax on billions of pounds of profits made here. Paying no corporation tax at all are huge and hugely profitable investment banks such as JP Morgan, Bank of America-Merrill Lynch, Deutsch Bank AG, Nomura Holdings and Morgan Stanley.
In the case of the banks there is a feeling that the sector has already been parasitic enough on the British taxpayer, courtesy of the British government, without grabbing more off them with aggressive tax-avoidance schemes. Continue reading