Mark Littlewood spoke to Peter Allen on BBC Radio 5 Live Drive Time about corporation tax avoidance. Not all of a company’s profit should be rendered in the UK, given that intellectual property rights such as logos and store design, belong elsewhere, Littlewood argued. This reduces a company’s corporation tax liability.
The only way to resolve this debate, and future issues arising surrounding corporation tax, is to make the law explicit, simple and unambiguous. We currently have the longest tax code on the planet with 15,000 pages. It is therefore unsurprising that companies can find loopholes in the law, Littlewood said.
Listen to the full interview here . Segment starts at 1:13.00.