BHP Billiton is hit with £1.3bn income tax bill

BHP Billiton, the multinational mining company, has been hit with a £1.3bn bill following changes to corporate tax law in the US.The expense, which will be treated as an exceptional item, will consist of a $898m non-cash charge on deferred taxes and a $843m charge on foreign tax credits.The mining company said that the lower corporate tax rate will benefit its U.S. attributable profit in the lo...