Feeds

Taxman bows to BT pressure

Telco wins massive refund

  • alert
  • submit to reddit

Mobile application security vulnerability report

BT has won a five year legal battle to reduce the amount it pays in tax.

The monster telco said today it had won a £250 million refund on its local government business rates bills in England and Wales.

The rebate covers valuations based on BT's network assets - things like street cabinets, telephone kiosks and telephone poles.

The higher the valuation - the more it pays in this business tax. By securing a lower valuation of its street property - and this excludes it shops, offices and other buildings, it pays less tax.

According to the ruling, next year BT will also pay £100 million less than its current £310 million rates bill for these network assets.

David Malone, BT Property's head of rating, said: "This is an excellent result for BT and its shareholders."

Indeed it is. A tremendous result for BT.

Except, while they're toasting their success tonight we'd just ask them to pause and think on how local authorities and central government will make up this shortfall.

If the British taxpayer doesn't cough up, it'll mean fewer doctors and nurses to care for our sick and dying; fewer teachers to help our youngsters; and not enough policemen and women on our streets keeping the citizens - no, subjects - of this land safe from harm. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.