New tax laws for the Uber Rich

#1
To us, it's an obscure shift of tax law. To the City, it's the heist of the century

Gruandian Story
 
#2
To us, it's an obscure shift of tax law. To the City, it's the heist of the century

Guardian Story
Fixed that for you!!!!

Remember that they are the Conservatives, so most of the fekers are old Etonians etc, and they will ALWAYS look after themselves ahead of the country they are supposed to love and care about. Labour of course are the other way, but fkukin useless. So whichever way you look at it, we're****ed and so is the country.
 
#4
Dare I suggest that if our corporation tax wasn't so high there would be no incentive to move your business overseas.

The law is being changed to be the same as Switzerland - heaven forbid that we would want to be like them!
 
#5
Dare I suggest that if our corporation tax wasn't so high there would be no incentive to move your business overseas.

The law is being changed to be the same as Switzerland - heaven forbid that we would want to be like them!
'We' might, but Dave and his pals don't and they are pulling the strings.
 
#6
Oh! Good. Some gigantic tax earners may be minded to stay. In which case their tax contribution can help pay for:

BENEFITS

Sadly, it appears that Diageo, a giant on the world stage, has had enough of Vince 'Hindsight Rules OK' Cable and his Marxist views on business and taxation.

So unfortunate. Still the shortfall of Diageos' taxes will only affect the NHS; Education and most of all Defence - the fvcking unemployed and unemployable will still enjoy their BENEFITS and their alchool and fags and trips to Spain and free accommodation and free education and free health services and free police services and free transport and free every bloody thing - whilst those that work, even those who are the poorest paid, will continue to pay for the skiving, fat-bellied, lager swilling, shaven-headed, tattooed, illiterate, innumerate, free-loading, untermensch rubbish!

Yes! I do know what I have just posted - and I mean every word of it!
 
#7
Dare I suggest that if our corporation tax wasn't so high there would be no incentive to move your business overseas.

The law is being changed to be the same as Switzerland - heaven forbid that we would want to be like them!
Indeed. By lowering corporation tax you encourage businesses to invest over here, rather than upping sticks and buggering off to a country that isn't so infested with Guardianista thinking.

I didn't bother reading the article anyway - one look at the byline (George Moonbat) was enough. The man really should be deported to Cuba and made to live in the sort of society he craves.
 
#8
Indeed. By lowering corporation tax you encourage businesses to invest over here, rather than upping sticks and buggering off to a country that isn't so infested with Guardianista thinking.

I didn't bother reading the article anyway - one look at the byline (George Moonbat) was enough. The man really should be deported to Cuba and made to live in the sort of society he craves.
WRONG. By allowing banks to pay zero tax on profits from our savings being invested abroad you encourage, nay practically compel them to suck money out of the British economy, denying growing British businesses capital, because if they invest here they'll have to pay tax, cutting into their profitability. So all the pay you have apparently sitting in your current account will be funding new factories in China, or mines in South Africa, whilst British firm go to the wall. The only return this country will see is if you get hired as a security guard on the palace the bank boss has bought with his fatter than ever bonus.

But it's fair enough. You look after your mates. When a Conservative government is elected their Old Etonian schoolmates and the other millionaires who live near them.
 
#11
To us, it's an obscure shift of tax law. To the City, it's the heist of the century
Guardian Story
Fixed that for you!!!!

Remember that they are the Conservatives, so most of the fekers are old Etonians etc, and they will ALWAYS look after themselves ahead of the country they are supposed to love and care about. Labour of course are the other way, but fkukin useless. So whichever way you look at it, we're****ed and so is the country.
It was a dig at the Gruandian's automatic spell checker :) - and yes, I do believe that we are totally f**ked
 
#12
You look after your mates. When a Conservative government is elected their Old Etonian schoolmates and the other millionaires who live near them.
And you think Neue Arbeit was any different? you dont think that businessmen contributing to the liarbour coffers werent richly rewarded in any way?

As an aside I worked in Ireland in the years of the 'Celtic Tiger' massive injections of cash from the EU and the Irish government had reduced Corporation tax for 'new businesses' I cant remember the exact figures but 17% comes to mind for some reason and 7 years was, I think, the reduced tax term.... come the end of 7 years Corporation tax shoots back up and all the companies pull out lock stock and barrel for cheaper shores... I think half the big businesses around cork such as Ely Lilly and Pfizer who built large new factories near Cork have now upped and left.

If I was a chancellor of the exchequer I would rather be getting 17% of these companies millions of euros of profit each year than 28% of nothing cos they have fecked off where its far far cheaper to build and hire workers*

*My figures may be totally wrong as I cant be asked to look it up, but you probably get the gist!

In my opinion a company which earns money abroad and pays the local taxes in whichever country it earns that money shouldnt be forced to pay a 'top up' tax if that money then comes back into the UK. All that would encourage is to not bring the money back into the UK invest it and spend it abroad instead, let other nations benefit from that spending power and feck the UK and its greedy government (and its population)!
 
#13
WRONG. By allowing banks to pay zero tax on profits from our savings being invested abroad you encourage, nay practically compel them to suck money out of the British economy, denying growing British businesses capital, because if they invest here they'll have to pay tax, cutting into their profitability. So all the pay you have apparently sitting in your current account will be funding new factories in China, or mines in South Africa, whilst British firm go to the wall. The only return this country will see is if you get hired as a security guard on the palace the bank boss has bought with his fatter than ever bonus.

But it's fair enough. You look after your mates. When a Conservative government is elected their Old Etonian schoolmates and the other millionaires who live near them.
So you didn't even read what the scheme is then! This proposal reduces the amount of tax paid when the companies bring the money back to the UK. If corporation taxes were reduced to the level to the other country concerned then there would be no incentive for UK businesses to move their accounts there. That is how Ireland has managed to keep its head just above water despite the mind-boggling stupidity of their banks and government. If you have a low tax regime business migrates to you and overall tax returns increase, not to mention all the other benefits of employment, improved balance of payments etc.
 
#14
This is bowing to the inevitable. Britain has the fourth highest rate of corporate taxation in the developed world. We're already seeing unprecedented rates of company relocation. Even the lefty Guardian is now technically owned by some entity based in the Caribbean. The Grun paid no tax at all the last time they turned a profit.

Lefties' expectation that multinational companies will bail out the economy by making massive, voluntary, additional tax payments that they don't have to is breath taking in its naivete, and it goes all the way to the top of the Labour party. Gordon Brown achieved what Margaret Thatcher, Jim Callaghan and Michael Foot never could. By introducing carbon credits he drove the steel industry out of the north east of England and into the South West of India. Well done there Gordon.

The big earners for the treasury are the banks. If they bail out to Dubai, New York or Hong Kong we'll have an extra £200 billion a year to add to our deficit. That's a third of government income. What kind of cuts would we be facing then?
 
#15
OECD Data on Corporation tax rates by nation.

Those economic powerhouses, Turkey, Greece, Italy and Postugal all have much lower rates of corporation tax than we do while those lagards in Germany have higher.

A_M's point about the Treasury's dependance on the financial sector is well taken, but surely that's no argument to try to frantically prop up such an appalling imbalance in our economy at the expense of the very small and medium-sized businesses that can't hold us to ransom with threats of moving tax-take abroad or outsourcing employment.
 

rampant

LE
Kit Reviewer
Book Reviewer
#16
#17
Sadly, it appears that Diageo, a giant on the world stage, has had enough of Vince 'Hindsight Rules OK' Cable and his Marxist views on business and taxation.
Keynsian, not Marxist. A Marxist believes in taking the means of production away from the capitalist owners.
 
#18
Oi, what have I told you about using evidence.....:-D
Sorry, sir. I'll write out 100 times, "Maggie didn't shift our tax burden overwhelmingly in favour of capital-lite services at the expense of indigenous manufacturing thereby precipitating the current economic imbalance and stunting our ability to innovate with stuff people actually want to buy".
 
#19
OECD Data on Corporation tax rates by nation.

Those economic powerhouses, Turkey, Greece, Italy and Postugal all have much lower rates of corporation tax than we do while those lagards in Germany have higher..
You fell into my trap SaC. I said "corporate taxation" rather than corporation tax. You are now, metaphorically speaking, regaining consciousness in my basement to find that you are chained up and wearing a gimp suit.

As Gordon never tired of reminding us, the headline rate of corporation tax in the UK is relatively low. It gets even lower if you can offset losses, investment costs and so on thanks to clever accountants. The real problem is what the Tories often referred to as 'stealth' taxes when they were in opposition (and which they promptly stopped mentioning now that they are in power).

At over 300%, fuel tax is crippling for any company that needs to move materiel. They don't pay VAT, but their employees do and wages have to reflect the fact that nearly 20% of employees' income goes straight to HMRC. Short haul flights where the tax often exceeds the cost of the ticket is a major problem for any European company basing senior executives in the UK. The concept of employers' National Insurance contributions, the so called 'tax on jobs' provokes gales of laughter in foreign countries.

I have a friend who works for a global manufacturing company. He has overall responsibility for hundreds of factories all over the world. His company recently bailed out of the UK after over 100 years. He told me that the reason was quite simple. Running a business in the UK costs 10 times as much as running exactly the same business in Eastern Europe. It costs 100 times as much as running the same business in the Far East. Major shareholders had threatened to fire the board if the company didn't get out of the UK.


A_M's point about the Treasury's dependance on the financial sector is well taken, but surely that's no argument to try to frantically prop up such an appalling imbalance in our economy at the expense of the very small and medium-sized businesses that can't hold us to ransom with threats of moving tax-take abroad or outsourcing employment.
Absolutely true. The economy needs more diversity (God, how I hate that word). But, in the short term, there's nothing we can do. Like the unions in the 1970s, the City is our sugar daddy and without it we'd be destitute.
 
#20
You fell into my trap SaC. I said "corporate taxation" rather than corporation tax. You are now, metaphorically speaking, regaining consciousness in my basement to find that you are chained up and wearing a gimp suit.

...

At over 300%, fuel tax is crippling for any company that needs to move materiel. They don't pay VAT, but their employees do and wages have to reflect the fact that nearly 20% of employees' income goes straight to HMRC. Short haul flights where the tax often exceeds the cost of the ticket is a major problem for any European company basing senior executives in the UK. The concept of employers' National Insurance contributions, the so called 'tax on jobs' provokes gales of laughter in foreign countries.
Fuel tax and VAT aren't just features of corporate life, though - they affect people too, private and public sector alike, with no distinction between.

I consider myself no longer strapped in your basement but rummaging amongst the pawned items in your shop, searching for a samurai sword.
 

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