UK Water Companies Accumulate Debt As Owners Hide Offshore

LONDON

The owners of Britain’s largest water companies used offshore tax havens as they loaded up the firms with £24bn of debt. Thames Water, Anglian, Southern and Yorkshire Water – which jointly supply almost 30m people – are billions of pounds in the red and paid no corporation tax last year. Critics claim their debts were racked up by owners to drive down tax bills and extract huge profits.

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