Home & Away - HMRC soap opera
This just gets better. Found this about the offshoring of HMRC's leaseholds:
From the National Audit Office.
http://www.nao.org.uk/idoc.ashx?docI...68c&version=-1
"The location of Mapeley STEPS Limited in Bermuda has no material effect on
the overall value for money of this deal to the UK taxpayer. Mapeley STEPS
estimated that if it had been required to bring the STEPS properties onshore, its bid price would have had to increase by £55 million to cover the extra UK tax that might have been due.(5) This is not a material figure in terms of a £1.5 billion deal or in the difference between the Mapeley STEPS bid and the nearest bidder and was not therefore a deciding factor in selecting Mapeley STEPS."
(5) This figure has not been agreed with the Inland Revenue and HM Customs and Excise since the Departments cannot comment on the tax affairs of individuals in public.
So £55M is "not a material figure" in terms of £1.5billion? Well it seems that £200M is according to Jane Kennedy in terms of £439billion of tax receipts in 2008. Hmmm, as a ratio, £55M is MASSIVE compared to £200M. Apples and oranges?
(5) But they're quite happy to talk about our tax affairs in public...
This just gets better. Found this about the offshoring of HMRC's leaseholds:
From the National Audit Office.
http://www.nao.org.uk/idoc.ashx?docI...68c&version=-1
"The location of Mapeley STEPS Limited in Bermuda has no material effect on
the overall value for money of this deal to the UK taxpayer. Mapeley STEPS
estimated that if it had been required to bring the STEPS properties onshore, its bid price would have had to increase by £55 million to cover the extra UK tax that might have been due.(5) This is not a material figure in terms of a £1.5 billion deal or in the difference between the Mapeley STEPS bid and the nearest bidder and was not therefore a deciding factor in selecting Mapeley STEPS."
(5) This figure has not been agreed with the Inland Revenue and HM Customs and Excise since the Departments cannot comment on the tax affairs of individuals in public.
So £55M is "not a material figure" in terms of £1.5billion? Well it seems that £200M is according to Jane Kennedy in terms of £439billion of tax receipts in 2008. Hmmm, as a ratio, £55M is MASSIVE compared to £200M. Apples and oranges?
(5) But they're quite happy to talk about our tax affairs in public...
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