“PFI: five firms avoid tax despite £2bn profits, BBC learns”

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Source: bbc.co.uk 27 October 2017

“Five offshore PFI companies paid little or no corporation tax during a five-year period despite making profits of nearly £2bn, the BBC has learned.

The five companies specialised in lending money through Private Finance Initiatives (PFI).

They own hundreds of public assets including schools, hospitals and even police stations.”

“Meg Hillier, the Labour MP who chairs the Public Accounts Select Committee, told the BBC’s The World Tonight: “Frankly it is shocking. Our taxes are paying for our schools and hospitals… and yet these companies are clearly profiting and paying no UK tax.”

Source article here

 

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