So, I understand that the Dispatches programme, featuring our favourite retired accountant, Richard Murphy, made some allegations about tax avoiding behaviour by some Tory politico types.
The programme also focuses on Mr Hammond, whose £7.5million fortune makes him one of the wealthiest of the Cabinet’s 18 millionaires.
It suggests that his practice of paying himself share dividends instead of a salary from his property firm Castlemead is a tax-efficient device used by the wealthy.
And it claims that he moved to limit his exposure to the new 50p top rate of tax last year by moving shares in the firm into the name of his wife who pays tax at a lower rate. It is suggested the move could save him more than £25,000 a year.
Hmm. I mean, gosh.
Dividends instead of pay, so dodging NI, and income switching, so dodging some income tax.
I wonder how Ritchie new about all of this?
Oh yes, that\’s right.
Richard is the person who wrote the article showing us how to do this.
And Richard is the person who seems to have run his own tax affairs in exactly this manner.
Now I didn\’t see the programme: but Richard did of course tell everyone that this was what he did so that\’s how he knows it works, didn\’t he?