Ah so this is yet another company trying make its profits in countries where it is more advantageous.
Yes, though since this business is all about financing, and companies lending each other lots of money, the transactions are not entirely artificial ones. The interest payments may be inflated, through. I can't see that a company ought to use some tax advantages, like the ones encouraging capital investment and allowing tax to be deferred and losses offset, but not others, because the government that wrote them did so for another reason. I do wonder why governments ( not just here) have been so slow to curb these "side-effects", though a start has now been made.
To correct a couple of points: Eversholt Investments Ltd. is itself the Irish company owned by one in Luxembourg, and apart from a couple of financing companies the rest of the group - the companies that own stuff - are English. The ^50M dividend was in addition to the ^49M interest going to the shareholders, so it was paid out the the ^55M loss ... not the obvious way to run a company, is it?
They do pay tax, but mostly in Ireland. There is an analysis of this, but I don't think it tells you much as it relates to the profit as declared and this is lower than it presumably should be. They paid very little this year, but over ^8M last year when the profit was ^53M.
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