Apr 30th, 2013
Npower the tax dodgers
By [email protected]
Npower have been rumbled! Over the past few days a top tax expert, Richard Murphy from Tax Research, has been investigating their accounts. Today the results of that investigation – paid for by donations from 38 Degrees members – are splashed across several pages in the Sun newspaper.
So here’s the likely explanation for why Npower aren’t paying any corporation tax (surprise surprise, it’s not something you’ll see mentioned in any of their own publicity): it seems that they’re funneling profits made in the UK through a shell company in Malta. Why, you ask? Well, it looks like it helped them dodge a whopping £60 million in tax over the last four years!