FTSE companies' see new tax drop

Adrian Holliday
City workers
City workers

The UK's largest companies are now paying almost a third less tax than two years ago. Accountancy company UHY Hacker Young claims FTSE 100 companies paid 35.8% of their profits in tax in 2009; this figure has now plummeted to 26% due to more companies deploying tax avoidance strategies, such as moving their headquarters abroad. And this 26% rate is going to get lower still - by quite a bit.