FabSwingers.com forum: Tax Avoidance

By (user no longer on site) OP
over a year ago

I read in the Independent that a number of energy companies and other UK house hold name companies are using a tax loop hole to reduce their corporation tax liability which the treasury its self estimates to cost in the region of £500m

To put it another way if they paid their due the exchequer could give all those on the state pension a 35% reduction in energy costs for 2 full winters.

Or to put yet another way its roughly a third of income support benefit fraud.

Something should be done!

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By *icecouple561Couple
Forum Mod
over a year ago

East Sussex

make 'em use food vouchers...that'll put paid to their little games

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

Tax avoidance is perfectly legal. Tax evasion is illegal.

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By (user no longer on site) OP
over a year ago

"Tax avoidance is perfectly legal. Tax evasion is illegal. "
It was more of a moral statement than a legal position. N Power used this loop hole to evade £30m yet have just written to me saying they are increasing the cost of their product by 10%

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By (user no longer on site)
over a year ago

No use the politicians moaning about the rules, they made them.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"Tax avoidance is perfectly legal. Tax evasion is illegal. It was more of a moral statement than a legal position. N Power used this loop hole to evade £30m yet have just written to me saying they are increasing the cost of their product by 10%"

But we're all in this together! Competition drives down prices! It's "disappointing".....

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By (user no longer on site)
over a year ago

"Tax avoidance is perfectly legal. Tax evasion is illegal. "

True but it doesn't make it right its not as if they can take the business abroad so why the loopholes are not shut fuck knows.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

No use the politicians moaning about the rules, they made them. "

\And it wouldn't do to enforce those rules because then the large companies wouldn't support the Tory party with donations would they?

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By *awk_eyeMan
over a year ago

east london

Mass boycott is in order

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"Tax avoidance is perfectly legal. Tax evasion is illegal.

True but it doesn't make it right its not as if they can take the business abroad so why the loopholes are not shut fuck knows. "

Quite right, both tax evasion and tax avoidance are, imo, morally wrong. I wonder if the Church does tax avoidance schemes?

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By (user no longer on site)
over a year ago

"Mass boycott is in order "

What has going to church got to do with it ?

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By *wingerdelightCouple
over a year ago

eastliegh

this needs to be stopped, its a huge hole in our gdp

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

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By *wingerdelightCouple
over a year ago

eastliegh

"make 'em use food vouchers...that'll put paid to their little games

oh please

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By (user no longer on site) OP
over a year ago

"Mass boycott is in order

What has going to church got to do with it ?"
The CofE has recently admitted its part of some avoidance scam. Jesus would be well pissed off with the Catholics and the Anglicans as between them they have assets in excess of £40b. God is great! Well perhaps well off!

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By (user no longer on site) OP
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

"
Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"Mass boycott is in order

What has going to church got to do with it ?"

because the church should not be party to anything immoral.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"make 'em use food vouchers...that'll put paid to their little games

oh please

They were joking - following on from another thread. I'm not stalking them.

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By (user no longer on site)
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!"

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy.....

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By *nnyMan
over a year ago

Glasgow

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy....."

We bought the steel for the new Forth Bridge from China too.

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By (user no longer on site)
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy....."

I really dont know what the govt are thinking allowing that if the chinese think there is profit in it then public money would be better in that than propping the banks up.

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By (user no longer on site)
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

Unlikely.

Realistically, keeps their debt from getting astronomically high.

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By (user no longer on site) OP
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy.....

I really dont know what the govt are thinking allowing that if the chinese think there is profit in it then public money would be better in that than propping the banks up."
I am all for a free market and have made a nice living within it but somethings need to be kept in house. Power generation and supply are in the national interest and should be run for the public benefit

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By (user no longer on site)
over a year ago

We buy everything from other counties now.

Mainly because it was decided in the 1980s that making money was easier if you just missold everything and borrowed what you couldnt afford.

We became what the then PM thought was a perfect world (a country full of grocer shops)

Now we realise,you cant make money if you have fuck all to sell.

The country has sold everything except the NHS,but thats on its way to market.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

Royal Mail will be the next with global owners and use of the tax avoiding loopholes.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"We buy everything from other counties now.

Mainly because it was decided in the 1980s that making money was easier if you just missold everything and borrowed what you couldnt afford.

We became what the then PM thought was a perfect world (a country full of grocer shops)

Now we realise,you cant make money if you have fuck all to sell.

The country has sold everything except the NHS,but thats on its way to market."

The Tories wanted an economy based on the service sector not a manufacturing base.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

"Royal Mail will be the next with global owners and use of the tax avoiding loopholes.

They will say their tax demands got lost in the post.

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By *nnyMan
over a year ago

Glasgow

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy.....

I really dont know what the govt are thinking allowing that if the chinese think there is profit in it then public money would be better in that than propping the banks up.I am all for a free market and have made a nice living within it but somethings need to be kept in house. Power generation and supply are in the national interest and should be run for the public benefit"

And water?

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By (user no longer on site) OP
over a year ago

"Royal Mail will be the next with global owners and use of the tax avoiding loopholes.

They will say their tax demands got lost in the post.

"
Very funny!!!!

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By (user no longer on site) OP
over a year ago

"There isn't any real competition in the energy market though. All of them are increasing prices between 7-10%. I use relatively little energy so no one wants me if I try and change.

Ms splits hits the nail on the head! The energy market is not competitive and its making money for its shareholders...........most of whom are large banks!

EDF is a company that is owned by the French government, it is their nationalised Electricity company.

All profit goes to the French government and helps reduce their Debt.

We can help the Chinese too when we pay extra for our electricity when the new nuke power station comes online. Global economy.....

And water?"
All utilities..........

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

I agree with style: nationalise essential utilities but make sure they break even, no excessive profits and no laziness and no back to 1970's blackouts.

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By (user no longer on site)
over a year ago

The Tories wanted an economy based on the service sector not a manufacturing base. "

Well we wont have any economy if the new EU tax on transactions come into place.

"Would you like fries with that" will be the only subject in the school dictionary.

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

The Tories wanted an economy based on the service sector not a manufacturing base.

Well we wont have any economy if the new EU tax on transactions come into place.

"Would you like fries with that" will be the only subject in the school dictionary."

French Fries with Chinese Noodles

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By *nnyMan
over a year ago

Glasgow

"I agree with style: nationalise essential utilities but make sure they break even, no excessive profits and no laziness and no back to 1970's blackouts. "

I'm in favour of nationalisation of utilities(or re-nationalisation to be more accurate) but do we just steal them or do we have to find the money to buy them back?

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By *nnyMan
over a year ago

Glasgow

PS Bob Crowe insisted Dagenham made 'excellent cars' then had to confess he can't drive.

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By (user no longer on site)
over a year ago

"I agree with style: nationalise essential utilities but make sure they break even, no excessive profits and no laziness and no back to 1970's blackouts.

I'm in favour of nationalisation of utilities(or re-nationalisation to be more accurate) but do we just steal them or do we have to find the money to buy them back?"

We pay the price that the shares were sold at.

Not all shares go up

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By (user no longer on site) OP
over a year ago

"I agree with style: nationalise essential utilities but make sure they break even, no excessive profits and no laziness and no back to 1970's blackouts.

I'm in favour of nationalisation of utilities(or re-nationalisation to be more accurate) but do we just steal them or do we have to find the money to buy them back?"
No Parliament just passes an act.......but that would cause a run on the pound as investors get twitchy..........it would take a politician with steel balls or tits to take the leap!

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By (user no longer on site)
over a year ago

The last one with "TITS" got us where we are today though.

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By (user no longer on site) OP
over a year ago

"The last one with "TITS" got us where we are today though."
Fair point well made!

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By *nnyMan
over a year ago

Glasgow

"I agree with style: nationalise essential utilities but make sure they break even, no excessive profits and no laziness and no back to 1970's blackouts.

I'm in favour of nationalisation of utilities(or re-nationalisation to be more accurate) but do we just steal them or do we have to find the money to buy them back?

We pay the price that the shares were sold at.

Not all shares go up

Sounds good. We can piss off a lot of hedge funds at the same time.

A real win-win.

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By (user no longer on site)
over a year ago

"Tax avoidance is perfectly legal. Tax evasion is illegal. "

But there's no will whatsoever to Change the tax laws & close the loops; similar to the last government.

here lies the problem!

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By *nnyMan
over a year ago

Glasgow

"Tax avoidance is perfectly legal. Tax evasion is illegal.

But there's no will whatsoever to Change the tax laws & close the loops; similar to the last government.

here lies the problem!"

One country can't do it alone without risking jobs and the associated loss of tax/ NI income and increased benefit costs.

While there's always a tax haven in the country next door or across the sea, little will change.

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By (user no longer on site)
over a year ago

Really? So, what about British owned coffee shops? British owned mobile fone companies?

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By (user no longer on site)
over a year ago

so leave npower and tell them why.

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By *nnyMan
over a year ago

Glasgow

"Really? So, what about British owned coffee shops? British owned mobile fone companies? "

Companies aren't always owned or registered where we think they are but there's a valid point here.

Why spend money with multinationals when there's (sometimes) a good local alternative?

Must it always be Starbucks?

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By (user no longer on site)
over a year ago

That's exactly my point. Apparently, their turnover has dropped but because, in effect, they charge themselves exorbitant amounts for their own coffee (crazy world), will they be getting tax rebates again, I winder?

I'd certainly never have a coffee there.

But mobile fone companies are the same; if you change the tax laws & a company leaves, then the void would soon be filled, I'm sure!

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By (user no longer on site)
over a year ago

Starbucks' coffee isn't all that, anyway!

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