BN66 - Court of Appeal and beyond

[DonkeyRhubarb]

Depreciation of sterling is a good point, if you hold other assets such as gold, the debt may become very small.

On the subject of Gold, now might not be a bad time to buy for a longer term hold. It has recently pulled back to the primary trend - 200dma.

Technical Gold Charts and Data - London Fix

[DonkeyRhubarb]

Insolvency Practitioner

If anyone wants to get some preliminary advice, below are details of the insolvency lawyer I've been talking to.

They normally charge £330+vat per hour but they've agreed a fixed fee of £200+vat for a 60-90 minute session.

I can't guarantee it will be any use and they may not tell you anything you don't already know. They have been fully briefed on our situation so you wouldn't need to waste time explaining what it's about.

Gavin Kramer
Email: Gavin.Kramer AT collyerbristow.com
Tel: 020 7468 7256

Collyer Bristow Solicitors ~ Home ~ Welcome
Collyer Bristow LLP solicitors
4 Bedford Row, London WC1R 4DF

[Alba]

Perhaps they should read this! Is this Fair taxing?

They can read?

NINETY-EIGHT of the FTSE 100 companies have subsidiaries in tax havens, a report by the ActionAid charity has said.

The report, Addicted to tax havens, showed that FTSE 100 companies have a total of 34,216 subsidiaries and 38% of their overseas companies are located in low tax jurisdictions. Only Fresnillo and Hargreaves Lansdown do not have subsidiaries in tax havens, the research shows.

Further reading

Cable to investigate tax haven subsidiaries
PFI shareholders are using tax havens, MPs find The banking sector was a particularly big user of tax havens, with the Big Four banks - HSBC, Barclays, Lloyds and RBS - owning a total of 1,649 tax haven companies. The report states that Barclays alone has 174 companies in the Cayman Islands.

Advertising giant WPP, which moved its headquarters to Dublin because of the UK's tax regime, is the biggest user of tax havens, with 611 companies based in low-tax jurisdictions.

Strikingly, there are more FTSE 100 subsidiaries in Jersey than in China, the findings show.

"The findings are of particular concern because many FTSE 100 groups are set to benefit from plans currently under consideration by the Treasury to give multinational companies using tax havens an £840m tax break, by relaxing the very rules designed to prevent tax-haven abuse," the report says.

The report concludes that the G20 should move to ensure that tax havens are forced to share information with tax authorities not only in rich countries but in developing countries that want to receive it by supporting multilateral tax information exchange initiatives.



Read more: 98 FTSE 100 companies use tax havens - 11 Oct 2011 - Accountancy Age
Accountancy Age - Finance, business and accountancy news, features and resources. Claim your free subscription today.

[geoff from contracta IOM]

NINETY-EIGHT of the FTSE 100 companies have subsidiaries in tax havens, a report by the ActionAid charity has said.

The report, Addicted to tax havens, showed that FTSE 100 companies have a total of 34,216 subsidiaries and 38% of their overseas companies are located in low tax jurisdictions. Only Fresnillo and Hargreaves Lansdown do not have subsidiaries in tax havens, the research shows.

Further reading

Cable to investigate tax haven subsidiaries
PFI shareholders are using tax havens, MPs find The banking sector was a particularly big user of tax havens, with the Big Four banks - HSBC, Barclays, Lloyds and RBS - owning a total of 1,649 tax haven companies. The report states that Barclays alone has 174 companies in the Cayman Islands.

Advertising giant WPP, which moved its headquarters to Dublin because of the UK's tax regime, is the biggest user of tax havens, with 611 companies based in low-tax jurisdictions.

Strikingly, there are more FTSE 100 subsidiaries in Jersey than in China, the findings show.

"The findings are of particular concern because many FTSE 100 groups are set to benefit from plans currently under consideration by the Treasury to give multinational companies using tax havens an £840m tax break, by relaxing the very rules designed to prevent tax-haven abuse," the report says.

The report concludes that the G20 should move to ensure that tax havens are forced to share information with tax authorities not only in rich countries but in developing countries that want to receive it by supporting multilateral tax information exchange initiatives.



Read more: 98 FTSE 100 companies use tax havens - 11 Oct 2011 - Accountancy Age
Accountancy Age - Finance, business and accountancy news, features and resources. Claim your free subscription today.

Fresnillo is headquartered in Mexico and i'm sure Hargreaves Lansdown have some clever tricks up their sleeves given their sector knowledge. Most people don't realise that you can use a UK company as a tax free vehicle if structured correctly , offshore companies located in " Tax Havens " can actually use UK companies to conduct business in the UK and pay zero tax. George doesn't seem to advertise that though for some reason ?

[centurian]

I put it to him that we would want to settle the tax, I suggested
that perhaps as a concession he would allow us not to pay interest and
he was just not interested whatsoever. In fairness to him he said
there were no concessions available even though I discussed that
perhaps a group of people, say 200, had this money and wanted to
settle a substantial amount for the Treasury, but <name removed> was quite
emphatic when he said there were no deals on the table for Montpelier
customers.

It seems they are more than happy to do just that for Goldman Sachs

Goldman Sachs 'escaped paying £20m National Insurance bill in HMRC deal' - Telegraph

Goldman Sachs let off paying £10m interest on failed tax avoidance scheme | Business | The Guardian

[geoff from contracta IOM]

It seems they are more than happy to do just that for Goldman Sachs

Goldman Sachs 'escaped paying £20m National Insurance bill in HMRC deal' - Telegraph

Goldman Sachs let off paying £10m interest on failed tax avoidance scheme | Business | The Guardian

Should have known Hartnett would be in their somewhere

[DonkeyRhubarb]

Should have known Hartnett would be in their somewhere

Goldman must have treated him to a load of slap up meals. Dave does like to be wined and dined.

Anyone fancy inviting him to dinner?

[BrilloPad]

Goldman must have treated him to a load of slap up meals. Dave does like to be wined and dined.

Anyone fancy inviting him to dinner?

Dave has to do as he is told or he will be dropped and a new PM appointed.

HTH

[SantaClaus]

Everyone knows that Goldman Sachs rule the world, hence HMRC/UK govt. letting them off their tax bill.

Goldman Sachs Rule The World Not Governments BBC Sept 26 2011 - YouTube

[bombaycat]

Everyone knows that Goldman Sachs rule the world, hence HMRC/UK govt. letting them off their tax bill.

Goldman Sachs Rule The World Not Governments BBC Sept 26 2011 - YouTube

I heard on the radio at the weekend that they are expected to report a loss for Q3. If it is a "real" loss then my small business makes more money that GS so who's the daddy now?