Lloyds will not pay corporation tax until profits hit £15bn

From Harry Wilson-Daily Telegraph

Lloyds Banking Group has risked heightening public anger towards the City after the state-backed lender admitted that it will have to make £15bn of profits before it pays any corporation tax in the UK.

Lloyds, which is 41pc owned by the state, is able to avoid corporation tax as it has billions of pounds of deferred losses that it can write off against tax liabilities.

FULL ARTICLE THE TELEGRAPH

Advertisements

About Councillor, Sefton MBC

Councillor, Sefton Metropolitan Borough Council, Victoria Ward, Ward Chair'
This entry was posted in Banks, economy, TAX Avoidance, telegraph, The Media. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s