Quizzes & Puzzles49 mins ago
Politicians are complaining!
Yes, that's right. They are complaining.
PREMIER League football clubs made more than £150million profit but paid less than £3million corporation tax in their most recent accounts, according to reports.
Although the clubs have done nothing illegal, a Sunday newspaper investigation has led to criticism by politicians.
By politicians . . . !!!!!!
Are those the same politicians who use the tax system to allegedly buy porn and upgrade houses they don't even use, with taxpayers’ money?
PREMIER League football clubs made more than £150million profit but paid less than £3million corporation tax in their most recent accounts, according to reports.
Although the clubs have done nothing illegal, a Sunday newspaper investigation has led to criticism by politicians.
By politicians . . . !!!!!!
Are those the same politicians who use the tax system to allegedly buy porn and upgrade houses they don't even use, with taxpayers’ money?
Answers
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We should ALL be complaining. We should all focus on any business and individual who use tax loopholes because by doing this, we focus our elected representatives on getting these loopholes closed.
Look at Amazon and Starbucks' UK profits and then look at their tax obligations! Yes, you could accuse politicians of being two-faced, but only if those who have complained are those who were involved in the expenses scandal. We should be wary of tarring all with the same brush.
Look at Amazon and Starbucks' UK profits and then look at their tax obligations! Yes, you could accuse politicians of being two-faced, but only if those who have complained are those who were involved in the expenses scandal. We should be wary of tarring all with the same brush.
What is all this nonsense today about the 'moral argument' for paying tax?
I'm sure HMRC wouldn't accept a 'moral argument' for us NOT paying taxes due. ("But I'm hard up, paying my taxes will mean my wife and kids on the street")
The only moral or ethical argument is; are we conforming to the rules that HMRC draw up and police.
If the answer is yes, and the tax payments are still not to their liking then that is the fault of the rules or the policing.
There are already precedents for sorting out issues like Starbuck's licensing of their Brand and logo.
For example, HMRC allow us a certain amount per mile to run our cars for business. If I wanted to run a Hummer at 5 mpg that would be up to me but I would still only receive the agreed allowance.
Licensing a brand should have a taxable allowance they can set against Corporation Tax (possibly based on turnover) and if Starbucks want to pay their parent company more that's up to them but it shouldn't reduce their tax liability.
I'm sure HMRC wouldn't accept a 'moral argument' for us NOT paying taxes due. ("But I'm hard up, paying my taxes will mean my wife and kids on the street")
The only moral or ethical argument is; are we conforming to the rules that HMRC draw up and police.
If the answer is yes, and the tax payments are still not to their liking then that is the fault of the rules or the policing.
There are already precedents for sorting out issues like Starbuck's licensing of their Brand and logo.
For example, HMRC allow us a certain amount per mile to run our cars for business. If I wanted to run a Hummer at 5 mpg that would be up to me but I would still only receive the agreed allowance.
Licensing a brand should have a taxable allowance they can set against Corporation Tax (possibly based on turnover) and if Starbucks want to pay their parent company more that's up to them but it shouldn't reduce their tax liability.
Do any politicians pay the full amount of tax as if they were employed? I very much doubt it, for starters they enjoy expenses that are not allowed to the individual by HMRC.
The argument should not be with the companies but with the HMRC loopholes. The answer is to simplify the tax system, simple tax systems have less holes and the current system is so old it is out of hand. There comes a point when you simply cannot polish that turd anymore; and the glitter is piled 2 ft deep!
But, before everyone rushes to condemn, how many of us use some of these companies because they are cheap? For instance how many use Googles Picasso? Want to pay for it in the future ?
The argument should not be with the companies but with the HMRC loopholes. The answer is to simplify the tax system, simple tax systems have less holes and the current system is so old it is out of hand. There comes a point when you simply cannot polish that turd anymore; and the glitter is piled 2 ft deep!
But, before everyone rushes to condemn, how many of us use some of these companies because they are cheap? For instance how many use Googles Picasso? Want to pay for it in the future ?
I have no issue with anyone who is using the law as it stands to avoid paying tax.
Tax is not something everyone feels they ought to pay, for the greater good - that's called charity.
Tax is a charge levied by the government from individuals and organisations.
If I am able to save any amount of tax I pay as an individual, I will do so, and therefore have no right what ever to cricitise companies and corporations who do the same. The prinicple is intact - only the zeroes differ.
So if the government is allowing people to excape paying income tax, it is beholden upon them to tighten the loopholes that allow such practices.
Just because any multi-national corporation or indeed football club, uses the law to better pay their shareholders is them excersising their business accumen to the benefit of their paymasters - in other words, doing their job.
If the Inland Revenue can perform its function with equal skill and dilligence, there will be no tax avoidance to complain about.
Tax is not something everyone feels they ought to pay, for the greater good - that's called charity.
Tax is a charge levied by the government from individuals and organisations.
If I am able to save any amount of tax I pay as an individual, I will do so, and therefore have no right what ever to cricitise companies and corporations who do the same. The prinicple is intact - only the zeroes differ.
So if the government is allowing people to excape paying income tax, it is beholden upon them to tighten the loopholes that allow such practices.
Just because any multi-national corporation or indeed football club, uses the law to better pay their shareholders is them excersising their business accumen to the benefit of their paymasters - in other words, doing their job.
If the Inland Revenue can perform its function with equal skill and dilligence, there will be no tax avoidance to complain about.
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