Coffee chain Caffe Nero has not paid a penny in UK corporation tax since 2007 despite racking up around £100million in profits.
The popular British coffee house has become the latest big firm to come under fire over its tax affairs, in the wake of US behemoths Starbucks, Amazon, and Google.
One MP said the revelations over its tax affairs would be ‘hard to take’ for family-owned cafe owners around the country and accused Caffe Nero of ‘free-loading on the back of British taxpayers’.
The Italian-style coffee house has become a firm fixture on the High Street, with 566 outlets in the UK.
Over the weekend the chain announced ambitious plans to open another 225 outlets over the next five years, creating 1,700 new jobs. It is also expanding into the US.
But HM Revenue & Customs has very little to show from Caffe Nero’s breakneck expansion since it started life in 1997 as single coffee house in South Kensington.
Analysis of its company accounts show it has not paid any tax since its financial year ending May 31, 2007. Full story...
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The popular British coffee house has become the latest big firm to come under fire over its tax affairs, in the wake of US behemoths Starbucks, Amazon, and Google.
One MP said the revelations over its tax affairs would be ‘hard to take’ for family-owned cafe owners around the country and accused Caffe Nero of ‘free-loading on the back of British taxpayers’.
The Italian-style coffee house has become a firm fixture on the High Street, with 566 outlets in the UK.
Over the weekend the chain announced ambitious plans to open another 225 outlets over the next five years, creating 1,700 new jobs. It is also expanding into the US.
But HM Revenue & Customs has very little to show from Caffe Nero’s breakneck expansion since it started life in 1997 as single coffee house in South Kensington.
Analysis of its company accounts show it has not paid any tax since its financial year ending May 31, 2007. Full story...
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