Wizz Air paid just 3.8 per cent levy – thanks to its Swiss base

firms were already reducing their headline rate by choosing to be a tax resident in a country with a low rate or by taking advantage of Government tax breaks.

The Mail on Sunday has repeatedly called on the Chancellor to take action urged under our Fair Play on Tax campaign.

Airline Wizz Air reported an effective tax rate of just 3.84 per cent in 2018, according to data provider Bloomberg.

The company generates significant revenues in the UK but is a tax resident of Switzerland with its generous regime.

Defence firms often receive tax credits from the Government for their activities in research and development.

Defence specialist QinetiQ, which had an effective tax rate of 4.6 per cent, said its tax rate will remain below the statutory rate because it expects to continue receiving Government money for research and development.

Stobart, the infrastructure and support service company, reported an effective tax rate of 0.61 per cent in its most recent accounts. Outsourcer Serco reported an effective tax rate of 9 per cent.

Many of the large property companies listed on the FTSE 250 are exempt from corporation tax on the basis that they invest in property on behalf of pension funds, making them REITs.

In some cases the data included ‘deferred’ tax bills which meant their true effective tax rate may have been even lower.