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13 Nov, 2013

Big Security firms pay no corporation tax despite profiting from billion-pounds contracts – The Independent

Private contractors carrying out billions of pounds worth of Government work face a “crisis of confidence” from the public, the National Audit Office (NAO) said, as it emerged that two of them paid no corporation tax last year.

The public spending watchdog highlighted a number of investigation it has carried out into alleged abuses by contractors such as Atos, G4S, Serco and Capita, and said much more openness was needed if the taxpayer was to be convinced that they are getting a good deal.

Two reports published by the NAO today found that, between them, these four biggest suppliers hold contracts with the Government that are worth around £4.5 billion. The total value of all the work they carried out last year for the public sector was estimated to cost £6.6 billion.

Despite this, the report revealed that Atos and G4S paid no corporation tax at all in the UK in 2012, according to the Daily Telegraph.

Read the rest: Atos and G4S pay no corporation tax despite profiting from billions pounds worth of public sector contracts, as auditors warn of ‘crisis of confidence’ over private contractors  – The Independent.