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Philip Hammond linked to firm that only paid £6,000 tax on £1.6m profit
Chancellor Philip Hammond

CHANCELLOR Philip Hammond holds an interest in a company that paid just £5,964 in tax despite it making £1.6 million in profits since he joined the government in 2010.

One of the directors at the construction firm Chiswell (Moorgate) Limited is an accountant who specialises in mitigating tax, according to the investigation by the Mail on Sunday.

The tax paid equates to an effective rate of 0.4 per cent — way below the standard 19 per cent corporation tax rate.

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