Tax dodging scum

[DimPrawn]

Rent a PO box in the Cayman islands under your co's name.

Transfer ownership of your co's brand to that subsidiary.

At the end of the tax year, your Cayman island subsidiary bills you for using the brand an amount equal to your profit for that year.

Hence in the UK, your company made no profit (or even a loss).

No corp tax to pay.

[EternalOptimist]

Rent a PO box in the Cayman islands under your co's name.

Transfer ownership of your co's brand to that subsidiary.

At the end of the tax year, your Cayman island subsidiary bills you for using the brand an amount equal to your profit for that year.

Hence in the UK, your company made no profit (or even a loss).

No corp tax to pay.

send a gunboat

[DimPrawn]

Philip Green being an excellent example of the above.

Old mate of Tony Blair.

Say no more.

Wink -Wink

Sir Philip Greed

Not only has he never paid a penny in tax in his life, they (New Labour) knighted the khunt (in 2006)!

[BrilloPad]

I thought only the little people paid taxes?

Its only fair.....

[Cyberman]

Blame Brown for giving us the highest taxes during 'boom' times when there should have been leg-room to lower taxes. It's no wonder that companies move their head offices etc to lower taxed countries !! People voted for Labour's high tax policies, so they cannot really complain. Yet more signs of massive failure of increasing state control and costly public services.

[DodgyAgent]

Sir Philip Greed

Not only has he never paid a penny in tax in his life, they (New Labour) knighted the khunt (in 2006)!

The money is better spent by Philip Green than it is by any govt department.

Which is better?

keeping employees of yacht builders in jobs or paying chavs not to work?

No brainer really.

[Mich the Tester]

Income tax was introduced to finance armaments for the Napoleonic wars. Seeing as those wars are over, it should be abolished.

[Cyberman]

I would hasten to add that the new business rates that local councils are now allowed to apply as an additional tax to finance local services, thanks to Labour, could well have been the last straw.

[DodgyAgent]

Income tax was introduced to finance armaments for the Napoleonic wars. Seeing as those wars are over, it should be abolished.

Or alternatively we could invade France again.

[TheFaQQer]

Sir Philip Greed

Not only has he never paid a penny in tax in his life, they (New Labour) knighted the khunt (in 2006)!

Terrible.

New Labour gave Lord Ashcroft a title for doing the same thing - and he's a bloody Tory!!