Figures from UHY Hacker Young point to companies paid tax equivalent to 23% of their profits,with the pharmaceutical sector paying the lowest average – 13%FTSE 100 companies paid tax equal to 23% of their profits last year, nearly a quarter less than in 2010, and according to figures from accountants UHY Hacker Young.
Falling corporation tax rates and the exercise of allowances have driven down the average effective tax rate paid by the UK’s biggest firms,the company said, and the rate looks set to drop further as more cuts come into effect.
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Source: theguardian.com