Originally posted by fullyautomatix
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The unacceptable face of capitalism
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Originally posted by DodgyAgent View PostDid you actually read the article?
Phones4U was bought by the private equity house, BC Partners, in 2011 for £200m. BC then borrowed £205m and, having saddled the company with vast amounts of debt, paid themselves a dividend of £223m. Crippled by debt, the company has now collapsed into administration.
So you had £200 million and bought phones for you.
The you get a load for £205 million (and so are in debt by £205 million)
Then you take a dividend payment of £223 Million - where the fook has that money come from?Comment
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Originally posted by Unix View PostPlay the system?, what are you talking about, setting up a Ltd company is perfectly valid way to operate as a contractor.
Yes - totally legal, but not really morally defensible.
If a totally legal umbrella offered a better return you would drop your limited company faster than your pants.Comment
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Originally posted by original PM View PostSee this is what confuses me.
So you had £200 million and bought phones for you.
The you get a load for £205 million (and so are in debt by £205 million)
Then you take a dividend payment of £223 Million - where the fook has that money come from?
HTHComment
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Originally posted by DodgyAgent View PostThe middle class are becoming the new working class
So it's inevitable that most Westerners are feeling the pinch, and all this stuff about the declining middle classes and a few filthy rich is hopelessly parochial and outdated.
Really, Dodgy, you surprise me - I never had you down as a chippy revolutionaryWork in the public sector? Read the IR35 FAQ hereComment
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Originally posted by OwlHoot View PostThe (obvious) big picture is that with globalisation and ever rising populations, wealth is becoming more evenly spread worldwide.
So it's inevitable that most Westerners are feeling the pinch, and all this stuff about the declining middle classes and a few filthy rich is hopelessly parochial and outdated.
Really, Dodgy, you surprise me - I never had you down as a chippy revolutionary
On a UK level - no. DA is totally correct. Just try leaving LOndon for a day - it becomes obvious very fast.Comment
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Originally posted by OwlHoot View PostThe (obvious) big picture is that with globalisation and ever rising populations, wealth is becoming more evenly spread worldwide.
So it's inevitable that most Westerners are feeling the pinch, and all this stuff about the declining middle classes and a few filthy rich is hopelessly parochial and outdated.
Really, Dodgy, you surprise me - I never had you down as a chippy revolutionaryLet us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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Originally posted by BrilloPad View PostOn a global level - yes.
On a UK level - no. DA is totally correct. Just try leaving LOndon for a day - it becomes obvious very fast.Comment
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Originally posted by DodgyAgent View Post
I just don't think it's reasonable to blame a few amoral greedball venture capitalists for what is a worldwide trend.Work in the public sector? Read the IR35 FAQ hereComment
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Originally posted by BrilloPad View PostOn a global level - yes.
On a UK level - no. DA is totally correct. Just try leaving LOndon for a day - it becomes obvious very fast.
People are very selective about tax avoidance, however. Pensions and ISAs are ok, for instance. But they're tax avoidance devices ultimately, with strings attached. It's hypocritical for people favouring these to bemoan anyone else trying to reduce their tax bill within the confines of the law.Comment
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