http://www.bbc.co.uk/news/business-22844952

Not only are we charging you for a basic human right, we'd like to screw you over even further...

They can legally deduct the investment in new pipelines. It is very handy when they know that the tax rates are coming down. They can invest heavily now offsetting the costs against profits this year, but as they gradually use up their deferred tax account they will be eventually paying tax.

On £1bn? If I'm reading it right... Either way, it all works out very nicely for them while their customers see their bills go up well past inflation. I wonder what their execs are paid.

I thought that the profits were £145 million if they invested five times that new pipelines etc, the tax allowances on that £1 billion of investment would be roughly £200 which would be deductible from this years profits, plus they could put another £55 million against next years profits. Though it all depends on how fast they are writing off that investment.

remember, we are all in this together ...

Actually as long as they are not using offshore vehicles to evade tax this is just a consequence of high investment. Also remember that they are employing a lot of people rebuilding their sewage and water systems, and that must be good.


Sent from my iPad using Tapatalk.

so the tax payer subs private industry, again.
while private industry avoids paying tax on profits, again.

remember, we are all in this together ...

So the've got about £1billion of deferred tax on their books? When are they going to pay that then?

It turns out that they did use a Caymen Islands scheme to reduce tax.