BBC News - Barclays UK corporation tax bill for 2009 was £113m
Although what they’re doing is legal I still get very annoyed that they are paying one tenth of the tax than that of the income from a working and middle class citizen. They even managed to have a bonus pool of £3.4 billion in 2010.
I think I might open a bank 
.
I’m in the middle of reading this book just now:
Treasure Islands: Tax Havens and the Men who Stole the World: Amazon.co.uk: Nicholas Shaxson: Books
And in conjunction with the recent minor “tweaks” to the tax laws, I’m spitting blood about it - The UK’s banking and tax system seems to become closer to a giant money laundering operation every year. 
Ah kind of a small world, I’m reading this book Whoops!: Why everyone owes everyone and no one can pay: Amazon.co.uk: John Lanchester: Books
I may have to have a look at the book your reading. I might need it when I’m a billionaire.
Herein lies the problem with having corporate tax rates period - Companies will always seek regulatory loopholes (the which are nearly impossible to all close without hurting legitimate business practices) to avoid paying tax.
No corporate tax and the corporations will quit hiding their yearly profits. If the companies haven’t hid their profits, they have more free access to those profits and can more easily invest those profits towards growing their own business.
Microsoft in the U.S. is a great example - because of the way U.S. corporate taxation on foreign profits works Microsoft has the borrow money for capital projects in the U.S. because so much of their cash can’t be brought into the US without paying heavy tax penalties.
If you remove corporate taxing the money will be either paid to individuals through dividends or salaries - at which time the money will be taxed - OR the money will be reinvested back into company growth… which basically means it will be spent which inevitably causes money to be allocated towards individual incomes (through hiring people, or buying from small business) and therefore taxed on that individuals income tax.
As far as corporations hoarding cash… the question is really why would a corporation hoard cash? Every penny they hoard is a penny not contributing towards more profit - A corporation does not want to “get rich”, it wants to grow and hoarding cash doesn’t help that.
The 3.4 billion euro bonus pool goes into the hands of individuals who pay taxes on their incomes and spend money contributing to the economy (and therefore the average persons welfare)