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South Craven MP calls for action over water firm’s tax bill
5:00pm Sunday 22nd September 2013 in Keighley
South Craven MP Julian Smith has blasted Yorkshire Water for its failure to pay corporation tax in the past year - despite making millions of pounds profit and raising customers’ bills.
He called the company’s chiefs to Westminster to discuss the issue.
He said: “I was disappointed by the apparent lack of understanding over why people are so concerned about Yorkshire Water's financial status and affairs. It is staggering that in 2013, when Yorkshire Water has made so much money and put up customers bills by on average £12, the company did not pay any corporation tax.
“We have seen too often that major companies use loopholes in the law to get around handing over their fair share of tax.
“The government is doing all it can to close these loopholes and I will be raising the issue with the chancellor.”
Yorkshire Water said it invested “more than £1m every day” in the regional economy.
“As a wholly UK tax resident company, we pay our tax in full and in total compliance with HMRC rules so we are concerned that some MPs have raised questions about the amount of tax we pay,” said a spokesman.
“We have always been completely open and transparent about our accounts.”
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