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Is Cameron Giving Companies The Mother Of All Tax Breaks?

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http://www.bbc.co.uk/blogs/thereporters/robertpeston/2011/03/is_cameron_giving_companies_th.html

I thought BBC and Tories became friends after the No10 appointment..

but still the clash goes on !!

any truth in it?

Robert Peston | 12:33 UK time, Wednesday, 2 March 2011

There was something of a tweeting storm when George Monbiot accused David Cameron of "plotting with banks and businesses to engineer the greatest transfer of wealth from the poor and middle to the ultra-rich that this country has seen in a century".

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http://www.bbc.co.uk...mpanies_th.html

I thought BBC and Tories became friends after the No10 appointment..

but still the clash goes on !!

any truth in it?

It'll have to go a long way to beat housing, which is currently worth something like 4 trillion pounds, up from 2 trillion pounds in 2000.

I wonder where that 4 trillion pounds actually came from?

Edited by (Blizzard)

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Not really. They've devalued everyone's hard-earned, regardless of how old you are.

The value of land is the net present value of the rent that can be extracted from it. This rent is to be extorted from future generations.

Land represents 61% of our wealth because land-owners can lay claim to a significant amount of any future income.

Edited by (Blizzard)

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I'm sorry but, this is excellent news for me :lol:

I know that's a selfish view to take but it's every man for himself these days. My only recommendation is if you are upset with this new law try by yourself to make a living either through doing your own business or by screwing with the benefit system. The system is obviously corrupt, but I'm sure a lot of you can try and work out ways to make this new law work for you.

Although as it's only exemption for medium to large corporations it will be a long time until I could take advantage :rolleyes: This seems like a big f-you to small businesses from the big corporations who seem to practically be running the government now.

If you can setup a good relationship with your manager try and propose you work for him on a contractual basis as a freelancer, and this way you will only pay 10% tax on earnings over 50,000 pounds per year so if your salary is under that. He can send your salary to your overseas bank account and you can make out a contract for your services.

At the end of the day the only difference between a corporation (which has most of the rights PEOPLE have) and a person is corporations pay MUCH less tax than people on a percentile basis so you guys really should just try getting your income from this method.

Another idea which may be much safer is again setting yourself up as a corporation overseas like in Switzerland but NOT declaring yourself to the British government, then just working as an intern for your company for 'free' then telling them to pay a donation to your Switzerland company, or pay for 'services' from it equal to the salary you expect.

Honestly there are so many ways around income tax it's not even funny. And the reason it's so easy to avoid is because the people in power themselves will be using these loopholes for themselves and friends. A typical corrupt MP will be earning much more than his government salary.

Boris Johnson referred to his newspaper writing income as chicken feed despite it being higher than his salary, which means in my mind he clearly has undeclared offshore income from his business mates.

Next time you buy some clothes from a retail chain like Next I hope you realise you are funding corporate fraud. These chains buy clothes from China or India for pennies and sell them for 1000% profit without even paying much tax. And due to their economies of scale even renting shop floor space is much cheaper for them than independant stores, over the whole spectrum of the economy the game is rigged to favour those with money.

And in my experience of doing business, the more money you have the more profit you can make and the less tax you have to pay on earned income.

Edit to add-

Cameron, Osbourne and Hague owe allegiance to their "leaders groups", according to the channel 4 programme "Dispatches." It was called "Cameron's millions" - he had rich people round for dinner in exchange for between £10,000 and £50,000 donations to the Conservative party according to the programme.

Well is this their payback time?

From one of the comments. I haven't seen that Dispatches programme. But I'm betting if the OFFICIAL donation was 10-50k to the party. There will be a MUCH higher unofficial donation to Cameron's personal offshore accounts. It's clear as day to me. Considering what kind of governments we have isn't it about time for a revolution?

Edited by Saberu

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http://www.bbc.co.uk/blogs/thereporters/robertpeston/2011/03/is_cameron_giving_companies_th.html

Shock horror, some actual analysis done by peston.

Monbiot doth plead too much, methinks.

So because Peston thinks these tax breaks are fair, you are going to support them?

Nothing like a British hypocrite. I'm betting you are one of those city guys whose going to benefit from this.

Peston is bought and paid for now, I'm sure his previous documentaries and interviews on the side of the people helped him eventually be offered a huge bribe to switch sides.

Corporation tax would not even cover half the costs of the National Health Service.

It's the tax paid by the millions of us who work for companies and institutions which largely pays for the state, not the direct taxation of the companies themselves.

It's called tax evasion Peston, you dumbass. But I know you are not really stupid, just pretending. If corporations paid there fair share of tax they would be paying at least as much as PAYE employees do. I refuse to believe that in modern society with this much automation and efficiency, and with oil still relatively inexpensive that human manpower is still earning the crust of wealth in this country.

It's a fact that the rich and business owners are taking most of the profits for themselves these days, a hidden fact. So the fact that income tax for PAYE staff brings in significantly more revenue than corporation tax is a scam of the highest order, second only to the scam of our financial system itself.

Edited by Saberu

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A few things

1. Effectively lowering corporation tax to ridiculously low levels might seem like a great idea. It isn't. Ireland found that out eventually.

2. Britain is the first country to do this. That should ring alarm bells. If other countries do follow suit the benefits will only be temporary for us.

3. This would allow overseas branches to offset costs incurred abroad against UK tax, e.g. the costs incurred for the BP oil spill could have been offset - we (UK taxpayers) would have effectively paid for the clear-up

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