The UK arm of the search giant will also report a loss after tax of £24.1million in accounts filed yesterday at Companies House. Much of this, however, is due to the £51.45 million cost of giving shares to employees. Excepting that, the firm reports a profit of just £27million. Last year Google paid £935,000 tax on £2.39billion in revenue. In the six years to the end of 2010, Google paid just £8million of Corporation Tax in the UK, but inthe 2011 calendar year alone that rose to £6.09m. Worldwide Google profit rose 11pc in the most recent quarter, ended June 30, as consolidated revenue climbed 35pc to $12.21bn compared with the same fiscal quarter a year earlier. Google reported a jump in quarterly worldwide profits to $2.8bn (£1.8bn) on rising online advertising revenue, beating Wall Street's expectations. Google’s executive chairman Eric Schmidt claimed last year that Google was obliged to pay the legal minimum in UK taxation, implicitly attacking lax British laws. "We could pay more tax but we would have to do so voluntarily,” he said. “There are lots of benefits to [being in Britain]. It's very good for us, Source: The Coming Crisis
