Canary Wharf Contractors enjoyed a surge in profits last year.
Accounts for the year to year to December 31 2016 show the firm made pre-tax profits of £69.7m on a turnover of £148.4m compared to £2.3m from a turnover of £125m last time.
Canary Wharf Contractors also paid only £11,500 in Corporation Tax compared to £13,9m the firm would expect to pay at the standard rate of 20%.
Notes to the accounts show that the tax charge was written off against losses at other group companies.
They also show inter-subsidiary loans of £934m.
A Canary Wharf Contractors spokesman said the accounts had been drawn-up “in line with standard accounting practices.”
from Construction Enquirer http://www.constructionenquirer.com/2017/07/19/canary-wharf-contractors-pays-11000-tax-on-70m-profit/
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