Wednesday, 17 April 2013

Npower's three years of zero corporation tax

Catalyst-Banner-200x200The boss of energy giant Npower has admitted that the company hasn’t paid UK corporation tax for three years after coming under fire over rising electricity and gas bills from outraged MPs.

Paul Massara, the firm’s chief executive, claimed it was because of a “simple accounting UK rule,” but the news will spark fresh anger at energy firms, which have been accused of forcing millions of ordinary people into fuel poverty while making huge profits while.

Senior staff from the big six energy firms SSE, EDF, E.on, Npower, Scottish Power and British Gas were severely criticised by members of the Energy and Climate Change Committee in a heated session at the House of Commons.

MP Ian Lavery, who provoked the admission from Mr Massara, said: “In the past three years RWE Npower has reported profits totalling £766m – yet today they admitted they have not paid a single penny of corporation tax over that period. People who pay their taxes unquestioningly are sick and tired of seeing hugely profitable companies use every trick in the book to get out of contributing their fair share.

via Npower’s three years of zero corporation tax – Home News – UK – The Independent.

Npower's three years of zero corporation tax

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