UK HMRC Corporation Tax Time Bomb

[northernladyuk]

Let's look at this issue using the same logic that left wingers use when talking about governments borrowing to invest:

"If these big businesses get this tax rebate from the government, then their share prices will go up, their dividend yields will rise, and they will invest in new business opportunities. All three of which will boost the economy, and bring us out of the recession".

Of course because this process involves billionare business owners, and real hard-working people making money, you won't hear the lefties use this kind of reasoning here.

Do you believe that statement is true? If so, why bother with the court case. Wouldn't it be sensible for the UK to just borrow the money and donate it to the big corporations in the form of a CT rebate?

[AtW]

Courts say it's the money belonging to business - so they should repaid, whoever at HMRC wrongly took it lose pension, including those who dragged time to make it worse

[northernladyuk]

Courts say it's the money belonging to business - so they should repaid, whoever at HMRC wrongly took it lose pension, including those who dragged time to make it worse

Parliament has primacy over court ruling.

[AtW]

Parliament has primacy over court ruling.

Not in Europe

[motoukenin]

Not us - them (big corps)

We will get increased dividend tax and lots of ither made up levies, charges, fees etc

Cant imagine any Govt. even the Conservatives putting up income tax to pay back big corp's, only taxes left to raise that amount would be VAT and NI both again would hit the JAM's and be unpopular. I doubt if dividend tax even raises 52 Billion and as they have found out with the latest Div rate raise hits pensioners their main source of votes, so only way would be to borrow or up Corp tax.

https://www.ifs.org.uk/bns/bn09.pdf

[BrilloPad]

I thought big business paid no tax? Or maybe 55bn is just 1% of what they should have paid. And now HMRC will have to pay it back.

[northernladyuk]

Not in Europe

UK parliament has primacy over EU rules and always has done. Assertion of that primacy may be in conflict with the terms of membership of the EU, but that does not negate the primacy. And what are they gonna do anyway?

[northernladyuk]

I thought big business paid no tax?

No, that's just you.

[BrilloPad]

No, that's just you.

Don't panic! HMRC can retrospectively change the law and nothing will have to be repaid.

[InsertWittyNameHere555]

I am sure HMRC will come out with something along the lines of "you can't retrospectively" claim tax