beaverface Posted October 12, 2011 Report Share Posted October 12, 2011 Saw this article this morning... Talks about Steve's company being one of the few British companies not to make use of tax havens. taxing Further proof that his business provides more than enough funding to the economy. Link to comment Share on other sites More sharing options...
Murraysrightplum Posted October 12, 2011 Report Share Posted October 12, 2011 Add to that the fact that he has created 600+ jobs through sheer hard work and paid more tax than you and I ever will. I have no idea why people have a go at him for moving overseas. Actually I do. Jealousy. Link to comment Share on other sites More sharing options...
Red_Mat Posted October 12, 2011 Report Share Posted October 12, 2011 I'm not keen on Hargreaves' views on other financial matters, but approve of the company not taking the easy route out here and not paying their way. This country loses billions from big companies tax avoidance, but nobody seems to want to do anything about it. Link to comment Share on other sites More sharing options...
Murraysrightplum Posted October 12, 2011 Report Share Posted October 12, 2011 The trouble is if you change the laws they will move to other countries with low tax rates and take their jobs with them. I would lower the business tax rate but make everyone pay it. That would encourage more companies to move to theis country... Link to comment Share on other sites More sharing options...
Nibor Posted October 12, 2011 Report Share Posted October 12, 2011 The trouble is if you change the laws they will move to other countries with low tax rates and take their jobs with them. I would lower the business tax rate but make everyone pay it. That would encourage more companies to move to theis country... Whilst lowering the corporate tax rate would make avoidance less worthwhile, you can't "make everyone pay it". The companies in question are not avoiding paying tax, they are avoiding paying it in the UK. They pay it in whichever country they've chosen to be registered in. If you make companies who trade in the UK pay twice, the same would happen to British registered companies operating in other nations. It should also be borne in mind that the majority shareholders of a plc (the people who benefit from the performance of the company) are usually investment/pension funds, so ultimately a company like Vodafone being profitable is how your pension and your savings grow. People really ought to be much more concerned about British companies being bought by foreign shareholders than by tax avoidance. Link to comment Share on other sites More sharing options...
WhistleHappy Posted October 12, 2011 Report Share Posted October 12, 2011 Whilst lowering the corporate tax rate would make avoidance less worthwhile, you can't "make everyone pay it". The companies in question are not avoiding paying tax, they are avoiding paying it in the UK. They pay it in whichever country they've chosen to be registered in. If you make companies who trade in the UK pay twice, the same would happen to British registered companies operating in other nations. It should also be borne in mind that the majority shareholders of a plc (the people who benefit from the performance of the company) are usually investment/pension funds, so ultimately a company like Vodafone being profitable is how your pension and your savings grow. People really ought to be much more concerned about British companies being bought by foreign shareholders than by tax avoidance. ie: BRISTOL WATER .... Spanish owned for some time, now a Canadian outfit have taken over.... more British money going down the drain (literally) ffs. ... We cant even empty our own bins & dump our own rubbish - thats ran 'for us' by the bloody French I believe (Sita).... another 'waste' of British! It's about time we became a 'fair-trade' country again & done a bit of DIY. Not forgetting our wonderful NHS - full of expensive 'cheap options' with dubious inferior foreign qualifications -who often cant even speak the language!!! arggghhhhh....... while we spend millions training British nurses by the bucketful who, when qualified, cant get jobs here for love nor money.. Link to comment Share on other sites More sharing options...
Murraysrightplum Posted October 12, 2011 Report Share Posted October 12, 2011 Whilst lowering the corporate tax rate would make avoidance less worthwhile, you can't "make everyone pay it". The companies in question are not avoiding paying tax, they are avoiding paying it in the UK. They pay it in whichever country they've chosen to be registered in. If you make companies who trade in the UK pay twice, the same would happen to British registered companies operating in other nations. It should also be borne in mind that the majority shareholders of a plc (the people who benefit from the performance of the company) are usually investment/pension funds, so ultimately a company like Vodafone being profitable is how your pension and your savings grow. People really ought to be much more concerned about British companies being bought by foreign shareholders than by tax avoidance. But that's the point isn't it and what I was trying to say in my original post. If corporation tax was lower then you would have companies actively wanting to be registered in Britain in the same way that they are registered in other countries now. Exactly the same reason wealthy people move to places like Monaco to avoid paying as much tax. Link to comment Share on other sites More sharing options...
Nibor Posted October 12, 2011 Report Share Posted October 12, 2011 But that's the point isn't it and what I was trying to say in my original post. If corporation tax was lower then you would have companies actively wanting to be registered in Britain in the same way that they are registered in other countries now. Exactly the same reason wealthy people move to places like Monaco to avoid paying as much tax. I agree if corporation tax was lower, registering abroad would be less attractive and fewer companies would do it. You seemed to say you'd also force companies to stop avoiding it, which isn't really possible. Link to comment Share on other sites More sharing options...
Murraysrightplum Posted October 12, 2011 Report Share Posted October 12, 2011 I agree if corporation tax was lower, registering abroad would be less attractive and fewer companies would do it. You seemed to say you'd also force companies to stop avoiding it, which isn't really possible. Yes badly worded. I meant they'd be registered and pay tax in this country and obviously have to pay it. Link to comment Share on other sites More sharing options...
italian dave Posted October 12, 2011 Report Share Posted October 12, 2011 And how does the country repay SL for paying his taxes.......steals his land off him. Link to comment Share on other sites More sharing options...
Pederho ll Posted October 12, 2011 Report Share Posted October 12, 2011 I thought SL moved to Guernsey for tax reasons? Link to comment Share on other sites More sharing options...
REDOXO Posted October 12, 2011 Report Share Posted October 12, 2011 I thought SL moved to Guernsey for tax reasons? Yes personal tax reasons I assume rather than corporate thats being discussed. Corporation taxes are a massive issue for many corporations. The problem that many companies face is that paying these taxes stops them from employing people as that money has gone/is going to government at the end of the year and therefore, the argument goes, stops them from employing people who in turn pay tax. Growth is badly needed around the world and the argument between keynesian economic theory (it is governments duty to ensure economic stability in times of downturn) and a more laisez faire approach to company taxation can be heard all the time (if you live where I do). The truth often lies in between! Link to comment Share on other sites More sharing options...
beaverface Posted October 12, 2011 Author Report Share Posted October 12, 2011 I thought SL moved to Guernsey for tax reasons? Now I'm not sure about this, has Steve moved to Guernsey for TOTAL tax invasion, or is it to pay a REDUCED tax bill? I would have thought SL would be in the 50% tax bracket, and I'd hate to think that HALF of my earnings would be given to the Government in this Country to waste. Link to comment Share on other sites More sharing options...
SeaMillsRed Posted October 12, 2011 Report Share Posted October 12, 2011 This is not football so should be in the non football part. Yes Lansdown is City but talking about taxes etc is not Link to comment Share on other sites More sharing options...
TRL Posted October 12, 2011 Report Share Posted October 12, 2011 Now I'm not sure about this, has Steve moved to Guernsey for TOTAL tax invasion, or is it to pay a REDUCED tax bill? I would have thought SL would be in the 50% tax bracket, and I'd hate to think that HALF of my earnings would be given to the Government in this Country to waste. I think he would have had to pay a small fortune to the Guernsey authorities to move there. So clearly the tax he is saving is enormous. 50% tax is huge, but he is near retirement age now, so fair play, most of his working life he would have been paying 40%-50% tax and i would suspect got very little back for that investment. Link to comment Share on other sites More sharing options...
054123 Posted October 13, 2011 Report Share Posted October 13, 2011 I'm struggling to see how paying tax is an 'investment'. It is a common pool of money which everyone pays in what they can afford, for the greater good of the country. I could've moaned about all the tax I've paid for the last 15 years, then hey presto, my wife contracts a serious illness at the start of the year and been in and out of the ruh ever since. It's about the greater good, something which Liverpool and Ian ayr have forgotten. Link to comment Share on other sites More sharing options...
Barrs Court Red Posted October 13, 2011 Report Share Posted October 13, 2011 I'm struggling to see how paying tax is an 'investment'. It is a common pool of money which everyone pays in what they can afford, for the greater good of the country. I could've moaned about all the tax I've paid for the last 15 years, then hey presto, my wife contracts a serious illness at the start of the year and been in and out of the ruh ever since. It's about the greater good, something which Liverpool and Ian ayr have forgotten. The greater good? What like funding the lifestyle of anon working feral underclass? Paying for the legal bill of a cynical land grab? Funding a bailout of foriegn countries? No wonder people don't want to pay tax - and I always thought it was national insurance contributions that pay toward NHS? Link to comment Share on other sites More sharing options...
Fiale Posted October 13, 2011 Report Share Posted October 13, 2011 Facebook recently chose to open its EU office in Dublin, joining Google, Yahoo, Myspace, LinkedIn & eBay. I also heard that Gala Networks (huge gaming company) is moving there - all because of the low corporation tax. Those are the kind of companies that we should/need be getting here. If we cannot even get companies looking for English speaking EU countries to locate here, then the future does not look bright. Link to comment Share on other sites More sharing options...
Pezo Posted October 13, 2011 Report Share Posted October 13, 2011 Whilst lowering the corporate tax rate would make avoidance less worthwhile, you can't "make everyone pay it". The companies in question are not avoiding paying tax, they are avoiding paying it in the UK. They pay it in whichever country they've chosen to be registered in. If you make companies who trade in the UK pay twice, the same would happen to British registered companies operating in other nations. It should also be borne in mind that the majority shareholders of a plc (the people who benefit from the performance of the company) are usually investment/pension funds, so ultimately a company like Vodafone being profitable is how your pension and your savings grow. People really ought to be much more concerned about British companies being bought by foreign shareholders than by tax avoidance. But how far do you go with that? You could argue that supermarkets (not wanting to bring up the stadium) take money away from local areas where they are based and focus profits in areas where there headquarters are based (London, Reading ect ect) by paying there top execs so much more of a % than other staff, which then trickles into that local economy rather than the economy of where the item was purchased. Link to comment Share on other sites More sharing options...
Nibor Posted October 13, 2011 Report Share Posted October 13, 2011 But how far do you go with that? You could argue that supermarkets (not wanting to bring up the stadium) take money away from local areas where they are based and focus profits in areas where there headquarters are based (London, Reading ect ect) by paying there top execs so much more of a % than other staff, which then trickles into that local economy rather than the economy of where the item was purchased. We were talking about tax avoidance which is a national thing, I was pointing out that it is better for the UK if the money stays in the UK even if it's with UK owned companies rather than the government. It would be worse to have a UK tax paying foreign owned vodafone than a foreign tax paying UK owned vodafone. Link to comment Share on other sites More sharing options...
054123 Posted October 13, 2011 Report Share Posted October 13, 2011 <br />The greater good? What like funding the lifestyle of anon working feral underclass? Paying for the legal bill of a cynical land grab? Funding a bailout of foriegn countries?<br /><br />No wonder people don't want to pay tax - and I always thought it was national insurance contributions that pay toward NHS?<br /><br /><br /><br / Brilliant. Who must have to wear XXXL sized tops in order to fit your heart in. Going on previous posts, you seem like a well educated person. What do you think would happen if nobody paid tax? Would it genuinely be a country where you would want to live? Link to comment Share on other sites More sharing options...
beaverface Posted October 13, 2011 Author Report Share Posted October 13, 2011 <br /><br /><br / Brilliant. Who must have to wear XXXL sized tops in order to fit your heart in. Going on previous posts, you seem like a well educated person. What do you think would happen if nobody paid tax? Would it genuinely be a country where you would want to live? He has got a point to a certain degree though. You've only got to see the news today that a bent copper made over £300million from the tax payer on a dodgy VAT scam. Look at the benefit cheats who claim tens of thousands of pounds and then are ordered to pay it back at £1.95 a week (which incidentally comes from their benefits !! - out pockets) I don't mind paying tax so long as it's being used wisely, but there are countless examples of it being robbed, squandered and given away) Link to comment Share on other sites More sharing options...
Fiale Posted October 13, 2011 Report Share Posted October 13, 2011 <br /><br /><br / What do you think would happen if nobody paid tax? Would it genuinely be a country where you would want to live? If the government butted out I would keep 65% more of the money I earn, to be able to spend it on what I want (instead of having it taken away on threat of imprisonment). In fact I would/could also get a 11% pay increase as my employer would not be hit by NI contributions just for the "privilidge" of giving me a job. Why can people not take responsibility for their own lives instead of clamping their mounts over, and sucking on the teat of the state ? Link to comment Share on other sites More sharing options...
Barrs Court Red Posted October 13, 2011 Report Share Posted October 13, 2011 <br /><br /><br / Brilliant. Who must have to wear XXXL sized tops in order to fit your heart in. Going on previous posts, you seem like a well educated person. What do you think would happen if nobody paid tax? Would it genuinely be a country where you would want to live? If nobody paid tax the country would be a shambles. How that tax revenue is spent however is the issue. The money we've spent in Lybia would probably have financed the sort of public works schemes needed to cut down on unemployment and get the economy moving in areas that badly need it! If I had to pay 50% tax I'd be copying SL Link to comment Share on other sites More sharing options...
wookey Posted October 13, 2011 Report Share Posted October 13, 2011 Hargreaves Landsdown are one of two FTSE 100 Companies that don't have a tax haven. It is HL's duty to their shareholders to pay the least tax legally possible. Therefore, if a tax haven was benificial they would have all they needed. I suspect that as they are an investment company tax havens are of little value to them. Unlike with Steve Lansdown's personal money Perhaps an accountant could give a view. Link to comment Share on other sites More sharing options...
Cambridge Batch Red Posted October 13, 2011 Report Share Posted October 13, 2011 If the government butted out I would keep 65% more of the money I earn, to be able to spend it on what I want (instead of having it taken away on threat of imprisonment). In fact I would/could also get a 11% pay increase as my employer would not be hit by NI contributions just for the "privilidge" of giving me a job. Why can people not take responsibility for their own lives instead of clamping their mounts over, and sucking on the teat of the state ? You could then get kidnapped walking down the street by gangsters or starving poor people. If you don't want to pay tax go and live in Somalia. Link to comment Share on other sites More sharing options...
RedRock Posted October 13, 2011 Report Share Posted October 13, 2011 At last some of the wiser members of society are prepared to stand up and say we've got to control the size of populations. It's unsustainable and irresponsible producing as many offspring as you want. The whole benefits system, unbelievably, encourages the production of sprogs to those least able to support them. Trash it. I'd do exactly what SLs done and choose what I want to invest in. Thankfully for us its BCFC. Link to comment Share on other sites More sharing options...
Fiale Posted October 14, 2011 Report Share Posted October 14, 2011 You could then get kidnapped walking down the street by gangsters or starving poor people. If you don't want to pay tax go and live in Somalia. And who are you to tell me where to live ? There again even when you chose a internet forum user name you went for the title of King, shock ! Link to comment Share on other sites More sharing options...
Cambridge Batch Red Posted October 14, 2011 Report Share Posted October 14, 2011 And who are you to tell me where to live ? There again even when you chose a internet forum user name you went for the title of King, shock ! Blood, you should rename yourself "Epic Fiale". Ask da yoot on da street wat dat means yo. Link to comment Share on other sites More sharing options...
downendcity Posted October 15, 2011 Report Share Posted October 15, 2011 If nobody paid tax the country would be a shambles. How that tax revenue is spent however is the issue. The money we've spent in Lybia would probably have financed the sort of public works schemes needed to cut down on unemployment and get the economy moving in areas that badly need it! If I had to pay 50% tax I'd be copying SL Paying 50% tax is a problem I would love to have. Link to comment Share on other sites More sharing options...
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