Loans....Tax havens.....Sound familiar?

[IR35FanClub]

I heard that Fosters also avoid tax by producing tulipe that nobody would want to drink, thereby reducing their profits.

I stopped drinking beer (well most of the time) and realised I had lots more money left in my pockets.

As a side effect I reckon I've cut my tax bill by about £700 a year!

Calculator: how much tax you pay on beer, wine, cigarettes and spirits | This is Money

I decided if I ever get the thirst again I'll start homebrewing as I prefer ale to lager. And foreign muck wine is not supporting UK farmers. (Shouldn't I actually call them inherited land owners?).

Sodastream are doing quite well now!

[VectraMan]

I heard that Fosters also avoid tax by producing tulipe that nobody would want to drink, thereby reducing their profits.

[DodgyAgent]

swines. Now I have to refuse to drink water as well as coffee on principle.
If Fosters are in on this..., i'm screwed

Or not if your girlfriend is Polish

[vetran]

If Fosters are in on this..., i'm screwed

If you drink Fosters you are screwed anyway.

[EternalOptimist]

swines. Now I have to refuse to drink water as well as coffee on principle.
If Fosters are in on this..., i'm screwed

[d000hg]

Indeed.

As they were until they were sold off by the Milk Snatcher.

Are they fully autonomous then?

[lilelvis2000]

Expected when so much of the infrastructure we depend on is foreign owned.

[d000hg]

Are water companies really independent companies? They seem so closely linked with local authorities, etc, it's like they're really just national services...

[DimPrawn]

UK water companies avoid paying tax - Telegraph

Six water companies have avoided paying millions in tax by routing profits through tax havens and using a legal loophole which the government recently chose not to close, according to research by Corporate Watch, which combed through the finances of the 19 utility groups.

The interest payments on the loans reduce the water companies taxable profits in the UK and, due to a regulatory loophole, go to the owners tax-free.

The owners issue the loans through the Channel Islands stock exchange as "quoted Eurobonds".

The research company noted that Northumbrian Water was the “most brazen” case, paying 11pc on just over £1bn of loans from its owners, the Hong Kong-based Cheung Kong group run by Li Ka-Shing, the world’s ninth-richest person.

Over the next full tax year, more than £100m will be deducted from Northumbrian’s profits just from the shareholder loans, potentially avoiding around £24m in UK corporation tax, the research group said.

The UK Treasury nearly closed the Eurobond loophole last October, noting that some companies were using it “for the purpose of circumventing the requirement to deduct tax at source rather than being directed at the raising of third party finance”. However, it decided against it.



Funny how HMR&C have ignored this. I bet they are all Tory party donors?