Facebook enjoys £11m UK tax credit despite £5bn global profit

Credit, which can be offset against future tax bills, may raise further questions about whether US group is paying its fair share

Facebook's UK business generated an 11.3m tax credit last year, despite the world's largest social network making a global profit of $6.19bn (4.97bn), according to the latest company accounts.

The credit at Facebook UK Ltd can be offset against future tax bills and is likely to raise further questions about whether the $370bn US company is paying its fair share towards Britain's public finances.