Sponging Billionaires - Time we paid more tax

[JohnD]

notch is missing the point again. He does that a lot.

 

[transam]

The MP's pension fund/scheme has money invested in tax havens

The labour party pay £1,000,000 a year in rent for there head quarters , this million gets paid to some company based in Jersey

Say no more

 

[SirGalahad]

notch is missing the point again. He does that a lot.

I thought Notch was supposed to be the Brains of the Brexit Brigade, but his recall of 'facts' is 'Bojoesque'

 

[transam]

I thought Notch was supposed to be the Brains of the Brexit Brigade, but his recall of 'facts' is 'Bojoesque'

brexit brigade ?

 

[IWalkLikeHimaMartian]

brexit brigade ?

Maybe he meant the RWR brigade. Same people really.

 

[Notch7]

I thought Notch was supposed to be the Brains of the Brexit Brigade, but his recall of 'facts' is 'Bojoesque'

What did say you did for a living?

 

[Notch7]

Wow quite a few errors. Either you didn't recall the facts correctly or you have them spectacularly wrong.

1. Top Right Group was rebranded as Ascential in 2015. https://en.wikipedia.org/wiki/Ascential

2. Ascential was floated on the stock Market in Feb 2016. GMG ownership stake went from 35% to 23.3%. Apax is the biggest shareholder with 38.9% down from about 66%. https://www.theguardian.com/media/2016/feb/09/guardian-and-apax-share-80m-from-ascential-flotation

3. As to Pre tax profits of £186.2m. £32.1m Nowhere neat that amount. https://www.ascential.com/~/media/F...or-docs/results-and-presentations/ar-2016.pdf

4. As to the tax charge - look on page 20 of the PDF.

The Group’s tax charge on profit from continuing operations was a credit of £13.4m (2015: £11.3m) and was made up of a current
tax charge of £4.1m (2015: £0.3m) and a deferred tax credit of £17.5m (2015: £11.6m). This comprised:
• an adjusted tax charge of £10.9m up from £4.6m in the prior year, being an effective tax rate of 17% (2015: 13%); and
• a tax credit of £24.3m (2015: £15.9m) on loss on adjusting items of £66.9m (2015: £79.9m), primarily relating to the credit
on the unwind of the deferred tax liability relating to acquired intangibles.
The effective tax rate of 17% on adjusted profit before tax benefited from £8.3m (2015: £5.8m) of further recognition of US tax
losses as a deferred asset following a later than expected change of control restriction and an increase in the value of the US
group at the point of that change of control. Absent this further loss recognition, the effective tax rate on Adjusted profit before
tax would have been 29%



Come on Notch try harder next time!

But. But. This data is from a publicly traded company with a higher level of transparency and reporting than private enterprises.

Clearly you have a lifetime subscription to the Guardian

Helped their £186m profit they shouldve paid tax on......

 

[JohnD]

"The UK arm of eBay paid only £1.6m in corporation tax last year, even though its US parent had total revenues from its UK operations of $1.32bn (£1bn)."

"The company declined to explain how its UK revenues were not booked though its UK business.

However, an eBay spokesman said its tax affairs were entirely legal."

http://www.bbc.co.uk/news/business-41582844?SThisFB

 

[SirGalahad]

Clearly you have a lifetime subscription to the Guardian

Helped their £186m profit they shouldve paid tax on......

Where did you get that £186m profit?

Is this from Notch Battle Bus slogan?

https://www.theguardian.com/gnm-pre...lts-for-the-financial-year-ended-2-april-2017

 

[SirGalahad]

https://www.cnbc.com/2017/11/07/bil...miserable-economy.html?recirc=taboolainternal

When even billionaires are saying this wealth inequality is causing problems the Brain Brigade still are calling for lower taxes on the MNC's

 

[JohnD]

"Facebook UK's 2016 accounts

• Revenues: £842m (compared with £210m in 2015)
• Profits: £58m (compared with £52m in 2015)
• UK tax bill: £5.1m (compared with £4.2m in 2015)

In the UK, there was outrage after it transpired that, despite a fast-growing commercial presence in Britain, Facebook had paid just £4,327 in tax in 2014."

http://www.bbc.co.uk/news/business-41498153

 

[JohnD]

"'Gave away fortune'
Mark Faulkner and his partner Harriet Logan moved more than £28m in cash and assets to a Mauritian company called Babington PCC.

Officially they have given away their fortune, but the Paradise Papers documents show they could still control how cash was spent because they acted as "investment advisers" to Babington.

They have advised the offshore company to buy a £3.25m country mansion, properties in London, a brand new Aston Martin, an art collection, a collection of classic photographs and a cellar of vintage wines."

"It also owned their holiday home in Florida, funded the upkeep of another holiday home in the south of France, paid for trips to New York and Miami, and spent more than £100,000 a year funding Mr Faulkner's hobby of classic yacht racing.

Mr Faulkner, a former banker, and ex-war photographer Ms Logan contributed £1.6m of the offshore money to the "Education Purpose Trust" - which would then fund their four children's entire private education.

Mr Faulkner initially denied putting any money into the Mauritian company, but his lawyers later told BBC Panorama that while they did not accept our assertions, they have "now commenced dialogue with HMRC to review the arrangements that their previous advisers had recommended"."

http://www.bbc.co.uk/news/uk-41893764

More than 100 UK millionaires have been identified as tax dodgers after hiding their wealth using offshore schemes.

 

[JohnD]

Paradise Papers: Lord Ashcroft stayed non-dom despite pledges

"Lord Ashcroft remained a non-dom, and continued to avoid tax despite attempts by Parliament to make peers pay their full share, leaked documents reveal.

The peer was domiciled for tax purposes in Belize at a time when it was widely believed he had given up the status, the Paradise Papers show.

While ordinary Britons have to pay tax on everything they earn, non-doms are only taxed on their UK income.

Lord Ashcroft, who donated millions to the Tories, said he would not comment."

http://www.bbc.co.uk/news/uk-politics-41879422

"A former party treasurer and deputy chairman, Lord Ashcroft fell out with David Cameron in 2010 and later co-authored a controversial unauthorised biography of the then prime minister."

 

[SirGalahad]

So the well off can avoid taxes through schemes which allow them to use this money to fund their campaigns to ensure they can promote the busted economics.

So the little guy not only has to pay more to cover for the rich guys, he's also being force fed lies which he has actually paid for.

 

[motorbiking]

Its the guy in the middle that pays more - the little guy pays sod all anyway.