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Tag: Loophole

  • Call for Action: Close £2bn Tax Loophole in Car Finance Scandal

    Call for Action: Close £2bn Tax Loophole in Car Finance Scandal

    Ministers are being urged to close a loophole that will allow UK banks and specialist lenders to avoid paying £2bn in tax on their payouts to motor finance scandal victims. Under the current law, any operation that is not a bank can deduct compensation payments from their profits before calculating their corporation tax, reducing their…

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