25% of UK’s top companies pay zero tax

Almost 25 percent of Britain’s biggest listed companies have paid no corporation tax last year, a new research reveals.

The Mail’s analysis of the latest annual reports and accounts of the FTSE 100 companies, which represent about 81 percent of the entire market capitalization of the London Stock Exchange, revealed that 47 companies has given no exact figures for tax they pay in the country.

Moreover, of the 53 who disclosed their tax payments, 12 showed they paid no tax at all despite half of them receiving a tax credit.

G4S, Vodafone, British American Tobacco, and Rolls-Royce, were among the companies which paid no tax in the country last year. The 12, however, paid £5.6?billion in corporation taxes in other countries.

Member of European Parliament for south east England Sharon Bowles, who is pushing for tax disclosure, said: “In an age of austerity, when the ordinary man in the street has to pay all his tax, we should be making sure corporates pay their fair whack and in the right place.”

Recession-hit Britain is losing at least 5 billion pounds each year due to tax avoidance schemes by wealthy individuals and companies.