Tax arrangements as recommended by Richard Murphy

Mr Vine appears to have been using his ten-year-old daughter Martha to avoid tax payments.

The presenter of the Jeremy Vine Show and the TV quiz Eggheads, has been funnelling cash through a limited company, Jelly Vine Productions, of which she is a shareholder.

Hmm.

Richard Murphy, an accountant at Tax Research, said: ‘He is obviously using the company to reduce his tax bill. It is perfectly legal, and perfectly allowed.

‘What is a little unusual is his daughter. Let’s be honest, she is unlikely to have said, “Daddy, I want to spend my pocket money on shares in the company”.’

Jelly Vine Productions’ accounts do not disclose how much it has paid out or whether it has paid dividends to all three family members, or just Mr Vine himself.

Mr Murphy said Mr Vine could have named his daughter as a shareholder for ‘long-term tax-planning’ purposes, reducing the tax she would pay if she inherits part of the business.

Actually, it’s not just legal and allowed, it’s actively promoted by Richard Murphy:

Self-employed workers and those in partnerships could benefit from considerable tax advantages by switching their business to a limited company, following tax changes in the Budget last year.

The change will enable anyone earning profits of about £30,000 a year to save up to £3,500 of tax. Even after the extra costs of running a company, savings could be almost £3,000. There are very few other ways available to save 10 per cent of your income and suffer almost no disadvantage as a result.

Glad we’ve got that settled then, this practice is wholly tax compliant.

After all, it must be, sa this is how the LHTD ran his own business and tax affairs for some time.

13 thoughts on “Tax arrangements as recommended by Richard Murphy”

  1. So Much for Subtlety

    Glad we’ve got that settled then, this practice is wholly tax compliant.

    And it is one step closer to that German-style Gender Equality where half the warm bodies on the Board are female. Not women mind you, but female nonetheless.

    I shall enjoy Ritchie’s rejoinder if he comes up with one. No doubt he will say he was for it before he was against it. Or perhaps it is fine when it is your wife.

  2. I think Richie takes one view where BBC radio two consumer shows which book guests are concerned and another with neoliberal scum.

  3. If he’s paying divis out to his daughter in this way they would probably be assessed on him anyway. Odds are that this is indeed a longer term IHT planning arrangement. And why not?

  4. Excellent, since on Budget and Autumn statement day Ritchie normally appears on his show, I’d like to see this come up in discussions!

  5. Allows for continuity of limited company too. If other shareholders are incapacitated or die and the remaining shareholder is able to legally make decisions then the business can make changes or carry on as before as wished.

  6. Why is always described as ‘Richard Murphy from Tax Research’ or ‘an accountant from Tax Research, as if he is part of some organisation involving other people? There’s only him and the spaniel. I doubt the GP Mrs is too much involved.

    He knows people do it, he must know it is misleading, but seems happy to let it run.

  7. After all, it must be, sa this is how the LHTD ran his own business and tax affairs for some time.

    He only did that to draw attention to the problems with it.

  8. Calling himself an economist whilst being ignorant of the subject?

    He only did that to draw attention to the problems with it.

  9. It’s entirely different. Because neoliberal sophistry. And you’re a troll.

    Or is he now coming out against people under the age of majority owning shares? Or passive shareholding? Or the giving of shares as a gift?

  10. At one point he was against small businesses being allowed companies at all, despite having one (or was it several) himself.

  11. Noel

    I nearly died laughing imagining him actually on the show. He has boasted so often about being on that show. But the tit just can’t join the dots can he.

Leave a Reply

Your email address will not be published. Required fields are marked *