BN66 - Court of Appeal and beyond

[prozak]

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
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I think you need to post this in the "all offshore schemes and tax avoidance is evil and may as well be evasion" thread.

good luck to the companies who structure their affairs efficiently.

[Emigre]

Hartnett

Seems that the wolves are gathering at Hartnett's door. Margaret Hodge has accused him of lying to the Treasury Sub-Committee - never heard of anyone doing that before and at least one MP has called for his resignation.

Also in the news today, Hartnett has admitted that only one of the Commissioners has "deep tax knowledge". Worrying.

[geoff from contracta IOM]

Seems that the wolves are gathering at Hartnett's door. Margaret Hodge has accused him of lying to the Treasury Sub-Committee - never heard of anyone doing that before and at least one MP has called for his resignation.

Also in the news today, Hartnett has admitted that only one of the Commissioners has "deep tax knowledge". Worrying.

Who wants to contribute to a PR fund to ramp up the rhetoric against him and his colleagues, based on their approach that must be a legitimate tactic ?

[smalldog]

Seems that the wolves are gathering at Hartnett's door. Margaret Hodge has accused him of lying to the Treasury Sub-Committee - never heard of anyone doing that before and at least one MP has called for his resignation.

Also in the news today, Hartnett has admitted that only one of the Commissioners has "deep tax knowledge". Worrying.

Poor Dave, well thats Karma for you, what you give out only comes back in spades. The universe has wonderful ways of avenging wrong doers...

[SantaClaus]

Poor Dave, well thats Karma for you, what you give out only comes back in spades. The universe has wonderful ways of avenging wrong doers...

Can't wait till they bring back public flogging.

[DonkeyRhubarb]

Who wants to contribute to a PR fund to ramp of the rhetoric against him and his colleagues, based on their approach that must be a legitimate tactic ?

Or perhaps hire a private detective to see if they can dig up any dirt on the bugger.

[SantaClaus]

Or perhaps hire a private detective to see if they can dig up any dirt on the bugger.

Let's not stop at Hartnet, there's also a few other names we could go after.

[DonkeyRhubarb]

Someone has submitted an FOI request about Hartnett's dealings with Goldman Sachs.

No doubt it will be met with obfuscation.

Goldman Sachs - a Freedom of Information request to HM Revenue and Customs - WhatDoTheyKnow

[SantaClaus]

Someone has submitted an FOI request about Hartnett's dealings with Goldman Sachs.

No doubt it will be met with obfuscation.

Goldman Sachs - a Freedom of Information request to HM Revenue and Customs - WhatDoTheyKnow

I can hear a whirring of cogs. HMRC have fired up the Obfuscation Of Information machine already.

[bombaycat]

Check your HMRC online

Just to warn people I happened to check my online status and discovered that they've slipped in a recalculation for 2008 on Thursday on the sly and now want numbers of thousands. Obviously I've sent it straight off pronto to MP for appeal as per my other 2 years of CNs.
I have not received any correspondance I fully expect it's in the "outtray to be posted for Christmas".
Thought it worth mentioning that they are obviously doing another trawl so worth proactively checking so we can give MP as long as possible to appeal stuff without the Christmas rush that HMRC are obviously attempting to concoct to stress them at their busy time.

Happy days....