Oh, no, please not Apple as well, groaned the hipsters. The magical company that sells super-expensive products and yet somehow nailed it during the recession did not pay a single penny of corporation tax in the UK in 2012. No wonder the recession didn’t hurt, eh?
Apple has been a little cleverer about it than firms such as Google and Starbucks, which use the old ‘royalty paying subsidiary’ trick to funnel liability into a tax haven. Apple has done a bit of this, but it has also used tax deductions stemming from share awards to its employees.
This is part of what is now becoming a saga for Apple, since the US Senate Committee decided to take a very specific interest in the reasons why it managed to avoid $10bn of US tax in a single year.