Local businesses in Crickhowell are turning the tables on the likes of Google and Starbucks by employing the same accountancy practices used by the world’s biggest companies, to move their entire town “offshore”.
Crickhowell residents want to share their tax avoidance plan with other towns, in a bid to force the Treasury into legislation to crack down on loopholes which allowed the likes of Amazon to pay just £11.9m of tax last year on £5.3bn of UK internet sales. In the BBC2 documentary, The Town that Went Offshore, the residents express their anger at companies including Caffé Nero, which has not paid corporation tax in the UK since 2008, despite recording sales worth £1.2 billion.
A spokesperson said the traders had a “very good meeting” with HMRC when they submitted their offshore tax plan for approval. “It’s a threat to the Government because if they don’t act this could be rolled out to every town. Everything we have proposed is legal.”