Despite being rescued by taxpayers during the crash, UK banks will avoid paying £19 billion of tax on future profits by offsetting their losses against tax.
Manchester United tops a new 'Football Secrecy League' published this week by international development agency Christian Aid to highlight the harmful secrecy of tax havens.
Christian Aid has launched its latest Alternative Tax Award – 'Tax Superhero of the Year' – and has invited nominations of suitably qualified firms and individuals.
Christian Aid has welcomed the Foot Report on British offshore financial centres as a further sign that the UK is taking responsibility for its major role in the global problem of tax havens.
While leaders of the rich world have been meeting to discuss the economic crisis, a British aid agency has highlighted the way in which derisory tax rates deprive poor countries of billions in lost revenue.
Christian Aid delivered an Alternative Tax Award to the offices of the International Accounting Standards Board (IASB) in Cannon Street, the City of London, yesterday.