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.



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.

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