The Accenture UK 2010 accounts state it paid no UK corporation tax that year on £123m of profits and no UK corporation tax in 2009 on £64m of profits. It paid foreign taxes of £6.7m.
Its latest accounts to August 2011 state it paid £2.8m of corporation tax on £81.8m of profits, which will include UK and foreign taxes. The accounts disclose its “deferred tax” was £12.7m, which is tax the company may one day be liable to pay.
If they’re actually declaring those profits in the UK then they cannot be using transfer pricing, royalties and all the rest to reduce the tax bill. Because such declared profits are after all such shenanigans.
So they must be doing something else: deferred losses? Capital allowances?
Or is there something odd about their structure: are they some blend of partnership and corporation? So that partners pay income tax on their share of the profits?