Starbucks chief told loss claims ‘don’t ring true’

Starbucks chief Troy Alstead was yesterday told his claims that the coffee chain continually made a loss in Britain “just doesn’t ring true”.

Mr Alstead, global chief financial officer at the company, denied lying to shareholders over the chain’s accounts when he appeared before British MPs investigating the taxation paid by multinational companies.

The US chain is reported to have paid nothing in corporation tax to Britain over the last three years and has filed losses with Companies House for most of the years it has been operating in the UK.