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UK not taxing for Merrill Lynch

US banking giant Merrill Lynch might not pay any corporation tax in the UK for several decades after channelling $29bn (£15.7bn) of losses through its London operation, a report said yesterday.

Matt Dickinson

US banking giant Merrill Lynch might not pay any corporation tax in the UK for several decades after channelling $29bn (£15.7bn) of losses through its London operation, a report said yesterday.