Google paid only £6m in UK tax

[Simon]

Google is set to pay only £6.09 million in UK taxes despite raking in nearly £400m in revenue from its British operations.

The search giant, which employs 1,300 staff in the UK, angered MPs last year when it paid £935,000 tax on £2.39bn revenue, and is likely to face fresh criticism over this year's contributions.

The figures were initially reported by the The Telegraph as profit in the billions of pounds, but Google has corrected those figures, saying it will pay £6.09m in taxes this year on £395m in revenue.

The figure contrasts with its end-of year filing to the SEC, which said Google earned $4bn in revenues in the UK "based on the billing addresses of our customers". That differential isn't new: last year, an Evening Standard report showed Google had made more than £6bn in the UK, but claimed revenue of £526m and was taxed £8.2m.

Google promised more details about this year's taxes would follow in a filing due to be released "imminently".

Read more: http://www.pcpro.co.uk/news/376279/google-paid-only-6m-in-uk-tax

[Glenn]

They use a Double Irish with Dutch sandwich to avoid tax http://www.nytimes.com/interactive/2012/04/28/business/Double-Irish-With-A-Dutch-Sandwich.html

[Steve]

No wonder the Irish needed a bail out. I guess it was ok a while ago when it attracted international businesses but now they've moved those jobs  elsewhere.

[Simon]

I suppose, if it's legal, they can't be blamed for using tax laws to their advantage.

[Steve]

Shame you or I can't do likewise though.

[Simon]

True.

[D-Dan]

You can, provided you are prepared to pay the tax lawyers vast sums of money for the privelidge.

And I'm a "tax expert" professionally, but honestly, these guys can run rings around me, and I can run rings around the Revenue. What chance has the government got in all honesty?

[zappaDPJ]

My experience from running a fair sized limited company is that a good accountant is worth every penny paid. I believe it was the auditors that first suggested I should stop doing the books myself and employ an accountant. It turned out to be extremely wise advice, to such an extent, I felt the need to ask my accountant on a number of occasions 'is this even legal?'.

In my opinion the problem is not creative accounting, it's loopholes in the tax law.

[Simon]

I thought all the best accountants were in jail! 

[pctech]

As an employee who is subject to PAYE I do sometimes wish I was responsible for having to pay my tax as when I see it wasted it does rather annoy me I have to say.

[Lance]

I thought all the best accountants were in jail! 

I've got away with it so far!

[Simon]

 

[Steve]

I thought all the best accountants were in jail! 

The best still haven't been caught yet!

[Simon]

[Technical Ben]

I thought all the best accountants were in jail! 

I thought all the best accountants were in the Bahamas, Caribbean and other cruses having a holiday?