> Yeah, OK, however it is paid by all the other companies working in the UK, Europe etc... and many have not the means to register at Bermuda...
They all have the means to register in Bermuda (or Cyprus or several other countries used to offshore money), it's relatively simple for an accountant to setup, but there's little point as the UK doesn't have any easy way to get the money back into the country from offshore without paying the required amount of corporation tax; so there's no point in sending it overseas in the first place.
The US does have periodic amnesties that allow offshore money to be brought back into the US at a reduced tax rate which makes hoarding it overseas for a few years financially worthwhile.
Of course, there's nothing stopping a UK company with good cashflow (which is required if you're going to be keeping lots of cash overseas in the hope of a future amnesty) from moving their headquarters to the US and doing exactly what these US companies are doing to pay little/no UK corporation tax.
They all have the means to register in Bermuda (or Cyprus or several other countries used to offshore money), it's relatively simple for an accountant to setup, but there's little point as the UK doesn't have any easy way to get the money back into the country from offshore without paying the required amount of corporation tax; so there's no point in sending it overseas in the first place.
The US does have periodic amnesties that allow offshore money to be brought back into the US at a reduced tax rate which makes hoarding it overseas for a few years financially worthwhile.
Of course, there's nothing stopping a UK company with good cashflow (which is required if you're going to be keeping lots of cash overseas in the hope of a future amnesty) from moving their headquarters to the US and doing exactly what these US companies are doing to pay little/no UK corporation tax.