A Labour Party spokesman yesterday said: “The Labour Party pays all tax that is due.”
Sure, sure.
New figures at Companies House reveal that ‘Labour Party Properties Limited’ – a venture that owns 19 buildings across the UK – declared zero tax in 2018 despite profits of nearly £630,000.
And it last paid money to the Treasury in 2003.
More than half of the property is rented on the open market while other buildings are leased to local Labour parties.
Rental income in 2018 was £2.6 million but this was offset by deferred losses, property expenses totalling £1.7 million and admin costs of £265,000.
Sure, sure.
Where is Ritchie when you need him?!
Weekend Humour
Labour Plagiarism
https://www.youtube.com/watch?v=wyC2g0B2_ys
The Fireman | Starring Shane Gillis and Victor Dweck
https://www.youtube.com/watch?v=GLGRX1DZVDQ
“income in 2018 was £2.6 million but this was offset by deferred losses, property expenses totalling £1.7 million and admin costs of £265,000”
That still leaves 2.6 minus 1.7 minus 0.265 equals £635,000 to pay tax on.
“other buildings are leased to local Labour parties”
Phfraaaaa! I have experience of letting to political parties. Paying their bills isn’t high up in their priorities. What’s the betting that Labour Properties Ltd is losing money because *their* *tenants* are crapping out of paying their rent?
@ Charlie T
It’s different when left wing organisations do this sort of thing. Spud explained this when some trade union was accused of something similar. All legal, you see.
When a neoliberal organisation does the same, they forget their duty to wider society.
Apparently, left wing organisations have no duty to wider society.
I’m missing something, Tim. Is LPPL a publicly traded company? What is their connection with the Labour Party?
@ Gamecock
Any publicly traded company is a Plc not “Limited”.
The company is controlled by the National executive Committee of the Labour Party. Its purpose is to assist the Labour Party.
It lets some properties to the Labour Party and some on commercial terms.
The bit that makes Tim snigger is that if a private individual lets property for free or at below the market rent he/she cannot claim losses against tax on other income but LPPL does so and expects to get away with it because it does not disclose separately its profits on commercial lettings and its losses on lettings to the Labour Party.
You are forgiven for not knowing UK jargon (why should you?).
So what the Labour activists have a go at other companies for is OK for their company because reasons.
Lots of profit and no tax – where have I heard that before usually with plenty of condemnation by Labour MPs…?
The quote – the labour party pays all tax that is due.
Does not mention companies.
Apparently, left wing organisations have no duty to wider society.
By their own definitions left wing organisations are a public benefit, whatever they do, so mumble mumble its not evasion or aggressive avoidance.
See also moral licensing.
Amazon (and every business trading within the law) pays all tax that is due. But that’s different, because reasons.
Yes, that paying all tax that is legally due point is relevant.
Because after McDonnell changes the law, nasty neoliberal companies will find they are asked to pay more tax but nice left wing organisations won’t be.
All legal you see.
“Any publicly traded company is a Plc not “Limited”.”
Although the L in Plc does stand for ‘Limited’.
And to make matters more confusing, whilst a company does have to be a Plc to have its shares traded publicly, a Plc doesn’t have to have its shares traded publicly. It can be privately owned.
@ Andrew C
While the “l” in Plc and “L” in PLC does stand for limited, a Plc is not normally described as “Limited” and most have “Plc”, not “Public Limited company”, in their names. I have just looked through my share certificates and I cannot find “Limited” on any of them
Surely a candidate for a Fair Tax Mark award if they pay the bung?
@John77
Good to see that you agree with me that the L in PLC stands for “Limited” and so a Plc is indeed a ‘limited’ liability company.
I hope you had fun looking through your share certificates.
@ Andrew C
Did you notice that I put “Limited” in quotation marks when I wrote to Gamecock?
Incidentally LPPL is a company limited by guarantee and has no share capital “Comrades let us not bother to put our money where our mouths are”