| This is why people are annoyed with company taxes on 12:22 - Jun 3 with 2296 views | Sikamikanico |
It really is time tax havens no longer existed.
I see the company deals with software licenses, surely the end point of taxation should be where the purchaser resides. |  | |  |
| This is why people are annoyed with company taxes on 12:22 - Jun 3 with 2292 views | matteoblue |
It will be interesting to see what tax law changes they have in mind, considering this perceived issue has been around since global business began (whenever that was). What is slightly odd is the perception that maximising your tax outlay is wrong. Everybody should do it. |  |
| We are Premier League, say we are Premier League! |
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| This is why people are annoyed with company taxes on 12:25 - Jun 3 with 2279 views | Sikamikanico |
| This is why people are annoyed with company taxes on 12:22 - Jun 3 by matteoblue |
It will be interesting to see what tax law changes they have in mind, considering this perceived issue has been around since global business began (whenever that was). What is slightly odd is the perception that maximising your tax outlay is wrong. Everybody should do it. |
There is a difference between reducing your tax outlay and setting up an office in a tax haven. | | | |
| This is why people are annoyed with company taxes on 12:25 - Jun 3 with 2281 views | footers |
| This is why people are annoyed with company taxes on 12:22 - Jun 3 by Sikamikanico |
It really is time tax havens no longer existed.
I see the company deals with software licenses, surely the end point of taxation should be where the purchaser resides. |
Good job that we've got a government moving towards creating freeports and making the UK an even lower-tax environment then, innit. The corporate tax rate under Thatcher was twice that we have now, under bloody Thatcher! No wonder we've sod all money for public services when that's the case. |  |
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| This is why people are annoyed with company taxes on 12:31 - Jun 3 with 2265 views | Guthrum |
One wonders what the pay-off for Ireland is in hosting such a scheme and declaring it legal? |  |
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| This is why people are annoyed with company taxes on 12:32 - Jun 3 with 2262 views | Sikamikanico |
| This is why people are annoyed with company taxes on 12:25 - Jun 3 by footers |
Good job that we've got a government moving towards creating freeports and making the UK an even lower-tax environment then, innit. The corporate tax rate under Thatcher was twice that we have now, under bloody Thatcher! No wonder we've sod all money for public services when that's the case. |
I agree completely.
I work in tax (in personal taxes currently) and corporation taxes are too low.
It has led to a sharp rise in small businesses that would normally be self employed/partnerships being incorporated starting in the 00's with the 0% corporation tax band. This did lead to people with profits of around £20k being able to effectively have a 0% tax liability in the 00's | | | |
| This is why people are annoyed with company taxes on 12:39 - Jun 3 with 2237 views | PrideOfTheEast |
Agree with your wider principle but it’s a ridiculous example from the Guardian. Vast majority of that “ profit “ is an accounting adjustment in relation to a legal entity rationalisation - not revenue earned from third parties. So not profit in any sense really and not something that will (rightly) be addressed in any tax reform.
Major progress with the US onboard with global minimum tax so these structures will likely be far less effective in the not too distant future. | | | |
| This is why people are annoyed with company taxes on 12:45 - Jun 3 with 2206 views | BlueBadger |
| This is why people are annoyed with company taxes on 12:25 - Jun 3 by footers |
Good job that we've got a government moving towards creating freeports and making the UK an even lower-tax environment then, innit. The corporate tax rate under Thatcher was twice that we have now, under bloody Thatcher! No wonder we've sod all money for public services when that's the case. |
MORE BULLYING |  |
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| This is why people are annoyed with company taxes on 12:46 - Jun 3 with 2198 views | PrideOfTheEast |
| This is why people are annoyed with company taxes on 12:22 - Jun 3 by Sikamikanico |
It really is time tax havens no longer existed.
I see the company deals with software licenses, surely the end point of taxation should be where the purchaser resides. |
There is a major shift towards that. But also something allocating a sensible amount of profit to IP locations so as to encourage and compensate jurisdictions that have technology, brand etc.
At the moment profit attribution is almost entirely focused on allocating profit to IP, which it is/was relatively easy to manage in a tax haven. | | | |
| This is why people are annoyed with company taxes on 12:49 - Jun 3 with 2177 views | StokieBlue |
| This is why people are annoyed with company taxes on 12:39 - Jun 3 by PrideOfTheEast |
Agree with your wider principle but it’s a ridiculous example from the Guardian. Vast majority of that “ profit “ is an accounting adjustment in relation to a legal entity rationalisation - not revenue earned from third parties. So not profit in any sense really and not something that will (rightly) be addressed in any tax reform.
Major progress with the US onboard with global minimum tax so these structures will likely be far less effective in the not too distant future. |
I assume you have more information on this as the article states the income is direct from licences which would be third party revenue. If it's a legal entity adjustment that should have been highlighted.
Agree that creating a global minimum rate will make a big difference to these structures.
SB |  | | |
| This is why people are annoyed with company taxes on 13:00 - Jun 3 with 2148 views | Pinewoodblue |
| This is why people are annoyed with company taxes on 12:32 - Jun 3 by Sikamikanico |
I agree completely.
I work in tax (in personal taxes currently) and corporation taxes are too low.
It has led to a sharp rise in small businesses that would normally be self employed/partnerships being incorporated starting in the 00's with the 0% corporation tax band. This did lead to people with profits of around £20k being able to effectively have a 0% tax liability in the 00's |
Not sure the rates are too low but they certainly are too avoidable. Biden wants to set the rate at a minimum of 15% while our Chancellor wants to hoover up the difference between our tax rates and what ever has been paid through Channing income through nominal companies in places like Ireland. |  |
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| This is why people are annoyed with company taxes on 13:14 - Jun 3 with 2124 views | Sikamikanico |
| This is why people are annoyed with company taxes on 13:00 - Jun 3 by Pinewoodblue |
Not sure the rates are too low but they certainly are too avoidable. Biden wants to set the rate at a minimum of 15% while our Chancellor wants to hoover up the difference between our tax rates and what ever has been paid through Channing income through nominal companies in places like Ireland. |
Maybe not too low, but certainly lower than when I started.
The level of Corporation tax does have a wider impact on income and tax and national insurance receipts with small businesses incorporation. The impact has reduced with the increases in dividend tax. | | | |
| This is why people are annoyed with company taxes on 14:58 - Jun 3 with 2061 views | matteoblue |
| This is why people are annoyed with company taxes on 12:25 - Jun 3 by Sikamikanico |
There is a difference between reducing your tax outlay and setting up an office in a tax haven. |
Is there? Both are attempts to minimise the amount of tax paid. | |
| We are Premier League, say we are Premier League! |
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| This is why people are annoyed with company taxes on 15:31 - Jun 3 with 2019 views | PrideOfTheEast |
| This is why people are annoyed with company taxes on 12:49 - Jun 3 by StokieBlue |
I assume you have more information on this as the article states the income is direct from licences which would be third party revenue. If it's a legal entity adjustment that should have been highlighted.
Agree that creating a global minimum rate will make a big difference to these structures.
SB |
Microsoft doesn’t have anything like 300bn of third party revenue. The accounts embedded in the article state in excess of 300bn of the profit relates to an accounting adjustment for the liquidation of a couple of subsidiaries.
Shame the Guardian and other observers can’t be better. There are so many clear examples of major US tech companies using Ireland (etc) to their advantage. [Post edited 3 Jun 2021 15:42]
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| This is why people are annoyed with company taxes on 15:45 - Jun 3 with 1978 views | StokieBlue |
| This is why people are annoyed with company taxes on 15:31 - Jun 3 by PrideOfTheEast |
Microsoft doesn’t have anything like 300bn of third party revenue. The accounts embedded in the article state in excess of 300bn of the profit relates to an accounting adjustment for the liquidation of a couple of subsidiaries.
Shame the Guardian and other observers can’t be better. There are so many clear examples of major US tech companies using Ireland (etc) to their advantage. [Post edited 3 Jun 2021 15:42]
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I did think that 300bn was exceedingly high at the time but was about to head out for a hike so didn't look at the accounts embedded in detail.
Thanks for clarifying.
SB | | | |
| This is why people are annoyed with company taxes on 17:16 - Jun 3 with 1921 views | PrideOfTheEast |
| This is why people are annoyed with company taxes on 15:45 - Jun 3 by StokieBlue |
I did think that 300bn was exceedingly high at the time but was about to head out for a hike so didn't look at the accounts embedded in detail.
Thanks for clarifying.
SB |
Not at all. | | | |
| This is why people are annoyed with company taxes on 19:23 - Jun 3 with 1878 views | Lord_Lucan |
| This is why people are annoyed with company taxes on 12:32 - Jun 3 by Sikamikanico |
I agree completely.
I work in tax (in personal taxes currently) and corporation taxes are too low.
It has led to a sharp rise in small businesses that would normally be self employed/partnerships being incorporated starting in the 00's with the 0% corporation tax band. This did lead to people with profits of around £20k being able to effectively have a 0% tax liability in the 00's |
You "Work" in tax and think corporation tax is too low.
You have a pay packet, regardless of anything. You don't have to take on the stresses of a business or anything that goes with it.
Small businesses employ more people in UK PLC than any one or anything . I would say the tax is about right. You want to raise to 30% plus so Rishi has a few more quid to bounce about? You will be condemning many small businesses to death and in turn creating mass unemployment.
Easy for accountants eh? |  |
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| This is why people are annoyed with company taxes on 19:31 - Jun 3 with 1869 views | jeera |
| This is why people are annoyed with company taxes on 19:23 - Jun 3 by Lord_Lucan |
You "Work" in tax and think corporation tax is too low.
You have a pay packet, regardless of anything. You don't have to take on the stresses of a business or anything that goes with it.
Small businesses employ more people in UK PLC than any one or anything . I would say the tax is about right. You want to raise to 30% plus so Rishi has a few more quid to bounce about? You will be condemning many small businesses to death and in turn creating mass unemployment.
Easy for accountants eh? |
I remember my [ex] chartered accountant once telling a mutual acquaintance that he wouldn't get out of bed for what he earned.
Didn't stop him sending an healthy sized bill at the end of the year.
Some junior doing your books, any mistakes and subsequent investigations down to you signing them off etc, and a massive fee at the end. |  |
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| This is why people are annoyed with company taxes on 19:44 - Jun 3 with 1846 views | Lord_Lucan |
| This is why people are annoyed with company taxes on 19:31 - Jun 3 by jeera |
I remember my [ex] chartered accountant once telling a mutual acquaintance that he wouldn't get out of bed for what he earned.
Didn't stop him sending an healthy sized bill at the end of the year.
Some junior doing your books, any mistakes and subsequent investigations down to you signing them off etc, and a massive fee at the end. |
I know.
My old accountant in Ilford (RIP Stanley, you robbing bastard) used to charge £300 per hour - and that was back in 2008. It got to the point that I was more wary of his bills than HMRC. Even now my bills are mental with my current lot but my in house bookeeper things they are cheap, it's a different world!
Can't stand it when everyone knocks the small guy, I have a tin pot business but all of a sudden I should pay more tax, and I am told this by Steady Eddies with a great pension.
Well feck the lot of the motherfeckers. | |
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| This is why people are annoyed with company taxes on 20:11 - Jun 3 with 1811 views | jeera |
| This is why people are annoyed with company taxes on 19:44 - Jun 3 by Lord_Lucan |
I know.
My old accountant in Ilford (RIP Stanley, you robbing bastard) used to charge £300 per hour - and that was back in 2008. It got to the point that I was more wary of his bills than HMRC. Even now my bills are mental with my current lot but my in house bookeeper things they are cheap, it's a different world!
Can't stand it when everyone knocks the small guy, I have a tin pot business but all of a sudden I should pay more tax, and I am told this by Steady Eddies with a great pension.
Well feck the lot of the motherfeckers. |
I think to be honest, when people say corporate they are visualising big feck-off companies earning billions and paying nothing at everyone else's expense.
They often don't seem to realise who else may fall loosely and wrongly into the same categories.
The system's all wrong, we know that.
It's always those who work the hardest to keep everything running and heads above water who get stung.
Those can afford don't need to sorry because they can afford to be exempt on levels the little guy cannot. | |
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