George Osborne's tax changes sweeten Alliance Boots liabilities pill by £100m

Boots has been able to boost profits by tearing up calculations on tax due to be paid after cuts to corporation tax rate was introduced

The owner of Boots the Chemist, Alliance Boots, has reported a global tax charge of just £2m after George Osborne's tax changes wiped more than £100m off its liabilities.

The group, which is part-owned by the private equity firm Kohlberg Kravis Roberts (KKR) and the Italian billionaire Stefano Pessina, saw a 16% increase in annual pre-tax profits to £973m.

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