What I want to know is the following:
What is the number for foreign corporation tax paid for \”large companies\”.
Here\’s the background.
Reuters has an analysis up arguing that large corporations (as HMRC defines them) are paying less tax than they used to while large corporation profits have risen over the past decade.
I want to test the assumption that this is about globalisation. Meaning that those large UK domiciled companies are making more of their profits abroad than they used to. Which are being taxed outside the UK as they often will be.
I would assume, but don\’t know, that there would be a figure somewhere that would let us check this. Something like, \”deductions claimed for foreign corporation tax paid\”….and we\’d like that number for large corporates. If that\’s not available, then for all would be fine.
My assumption is that this number will have risen substantially. For the past decade has indeed seen large corporates making much more of their profits outside the UK. A quick glance at the top ten FTSE for example shows only one company which I recognise as having substantial UK operations.
So, anyone know HMRC\’s stats well enough to find that number, if it exists? As a time series, back to 2000?
Crop tax paid to HMRC is down, profits are up. But what\’s the amount of foreign corporation tax that has been paid on those same profits?