Water companies able to pay dividend but do not pay corporation tax

This is a difficult one. Because of its debts and capital projects, the water companies pay no corporation tax, but they do pay dividends.

http://www.guardian.co.uk/business/2012/nov/10/water-companies-tax

http://www.guardian.co.uk/business/2012/nov/10/utilities-water-bills

http://www.guardian.co.uk/commentisfree/2012/nov/10/water-industry-tax-simon-hughes