Boots owner Alliance 'uses havens to save £1.1bn in corporation tax' Alliance Bo

[Pete]

Alliance Boots, the owner of Boots the chemist, has avoided £1.1bn in taxes by routing its cash through a series of subsidiaries in well-known tax havens including Luxembourg, Cayman Islands and Gibraltar, according to a new report.

The campaign groups War on Want and Change to Win and the Unite union have calculated that the company saved the money by loading the UK business with debts from its £12.2bn private purchase in 2007 and legally claiming tax relief against the interest.

£1.1 billion?! How many spare bedrooms are taxed to make up that size shortfall?

This government is both weak and stupid.

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