Five large banks 'paid no UK corporation tax' in 2014 - BBC News
Banks in following UK tax rules shock.
Five of the largest banks in the UK paid no corporation tax in 2014, despite making billions of pounds in profits, analysis by Reuters has shown.
JP Morgan, Bank of America Merrill Lynch, Deutsche Bank, Nomura Holdings and Morgan Stanley paid no corporation tax at all, the news agency said.
The banks offset past losses against their taxable income for 2013-14.
The banks have so far declined to comment, but their tax returns say they complied with UK tax rules.
JP Morgan, Bank of America Merrill Lynch, Deutsche Bank, Nomura Holdings and Morgan Stanley paid no corporation tax at all, the news agency said.
The banks offset past losses against their taxable income for 2013-14.
The banks have so far declined to comment, but their tax returns say they complied with UK tax rules.
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