The Kellogg Company of Great Britain enjoyed a sweet 180% leap in profits last year, rising to £33.9million from just over £12million the year before. Yet the business has paid no corporation tax since 2015, when it paid £15,000. (Image: Getty Images North America)The Kellogg Company of Great Britain employs 800 here, making cereals under contract with an Irish-based operation. Yet Kellogg’s seemed able to use losses from a number of UK-based investment offshoots to pay no UK corporation tax. (Image: Mirrorpix)Firms can legitimately offset losses in one area against profits elsewhere, wiping out corporation tax liabilities.

Source: Daily Mirror April 01, 2019 20:31 UTC