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Article: Private equity firms enjoy GBP 11m tax break

Article from:
Evening News - Scotland
Article date:
February 27, 2007
Author:
Copyright

SOME of the biggest private equity-owned firms in the UK effectively paid no corporation tax to the Treasury over their last trading year, an analysis of figures from their latest accounts reveals.

Instead, the figures showed that combined there was a tax credit of around GBP 11 million.

Four of the top ten, including Brakes, Iceland, United Biscuits and Linpac, received credits, while Lucite neither received any credit or appeared to pay any corporation tax.

Together, the firms - as ranked by Fast Track, the research firm which publishes league tables of the UK's top private companies - had combined sales of more than GBP 12.5 billion and operating profits of more than GBP 456m.

The ...

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