‘Many of Britain’s best-known high street chains are avoiding millions of pounds in tax through the controversial Eurobonds scheme.
Food chains including Nando’s, Pizza Express, Café Rouge, Strada and Pret A Manger have cut their taxable profits by borrowing from their owners through the Channel Islands Stock Exchange. High street retailers doing the same include BHS, the electronics retailer Maplin, Office and Pets At Home. The revelations form the third part of an investigation by Corporate Watch and The Independent into major UK companies using the quoted Eurobond exemption, a regulatory loophole the Government knows about but has decided not to close.’
Read more: Eurobonds scandal: The high street giants avoiding millions in tax
