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Search engine giants Google are due to be hit with a huge tax bill. The Daily Mail report that Google are due to pay at least £24 million in backdated tax further to a review by HMRC.

Google paid just £11.6million in corporation tax in Britain in 2012 despite sales here of £3billion and profits of nearly £900million. Other multinational companies have also come under fire for reducing their tax bills including Starbucks, Amazon and Facebook.

Google said: ‘Like most multinationals, we pay the bulk of our corporate tax bill where our business originated – in our case the US. We’re a significant contributor to the UK economy having created over 2,000 jobs’

 

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Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

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