Npower avoids paying £108m to HMRC
According to the Currant Bun, over half of Npower's funding comes from German owner RWE via loans paid through a company based Malta. Npower then pays back annual interest on the loans, which means all manner of tax is avoided thanks to posting a loss. This comes on the back of the news that Npower hadn't paid any corporation tax for years because the government were making them make huge investments into wind farms (which just so happens to create a tax credit).
Of course, this is particularly galling for the 7 million customers who have been hit with price hikes in their bills for the past few years. Naturally, we have to point out that Npower are insistent that they've done "nothing wrong" and that HMRC was "aware of everything".
Last night npower said: "HMRC are aware of everything here and still class us as a low-risk company. It’s sad to see this continued harrying of a company like ours that has invested billions into the UK."