This is just lovely about Corbyn

However accountants described the omission as “sloppy” and said that even if he has paid all tax his failure to declare the income amounted to a technical offence.

It comes after Mr Corbyn appeared to delay publishing his return earlier this week and was then forced to admit he was fined £100 for filing the document late.

All this shouting about Cameron and yet it’s Corbyn who has actually broken the law.

The Curajus State will be about to hang him for this, yes?

50 thoughts on “This is just lovely about Corbyn”

  1. Corbyn filed his tax return on paper, not on-line. That suggests he filled it out himself (rather than having an accountant do it). Hopefully this means he understands how complex it is, and will push for tax simplification.

    Or it could just mean he’s terrible at delegating, which seems quite likely.

  2. But at least he has shown us his return. There are others such as Burham and Abbott who don’t want us to.see what they’ve got.

    And then there is a certain tax blogger who has decided that “tax is political; not personal”. So he shouldn’t release his returns you see, it’s a point of principle.

  3. Interesting to see the papers finally picking up on my point about Corbyn being a multi-millionaire purely from troughing taxpayers’ funds. Why, at this rate he might actually be out on his ear before the next election.

    That aside, am I missing something or has Corbyn not actually filled out his tax return fully, even going by the things we know for certain about his finances?

    https://www.scribd.com/doc/307917248/Jeremy-Corbyn-Tax-Return-2014-15

    Quite apart from his alleged ownership of various forms of wealth which, if not declared, would be simple, outright tax evasion, he hasn’t declared his Parliamentary expenses properly, nor has he declared – not that it’s taxed – the interest on bank accounts he owns. He also hasn’t declared his role as Labour leader – which may not be paid directly, but most certainly comes with extensive benefits that are declarable if not taxable.

    Does one of you chaps with the experience of these things want to weigh-in? Is that all above board?

  4. Whoopsie.

    “nor has he declared – not that it’s taxed – the interest on bank accounts he owns”

    I of course meant that it’s already taxed, if they’re UK accounts.

  5. MPs should fill in their own tax returns. On time, like the rest of us. With no accountants.

    For every MP that makes a mistake, one should be shot, or net 1000 pages of tax legislation to be repealed.

    Talk about the 0.001%.

  6. He really is an idiot isn’t he? Although, doesn’t he have a lodger too? Hope that’s not cash in hand or undeclared…

    Very amusing that he clearly sent the hypocritical shitbags in the PLP into panic when he said they’d all be publishing their tax returns.

  7. “Dave

    Whoopsie.

    “nor has he declared – not that it’s taxed – the interest on bank accounts he owns”

    I of course meant that it’s already taxed, if they’re UK accounts.”

    Whoopsie 2

    Tax is (or rather was, it isn’t any more from 6 April) deducted at the basic rate by banks. Any higher rates of tax due would be paid by way of self-assessment or personal allowance restriction. So bank interest left off a tax return of Corbyn would result in a loss of tax and an incorrect tax return.

  8. AndyC>

    I’m aware of that, but we’re looking at Corbyn’s return for 14/15 so it’s not relevant.

  9. @Dave

    What’s not relevant? In 14/15 Corbyn would have been a 40% taxpayer. The basic pay of an MP is well above the level at which 40% tax is due. If he received interest and didn’t declare it in 2014-15 that’s an incorrect return. The interest deducted by a bank is at 20%. He would owe more tax.

  10. Sorry, I meant the bit about laws changing for 2016.

    Separately, Corbyn doesn’t necessarily owe any extra tax above what’s already been paid on interest – he may be below the threshold for interest to be taxed – but I was under the impression that must be declared even when it doesn’t give rise to further taxation.

  11. But the return is all wrong anyway.

    Page TR3 box 18 shows £1,850 income. Box 19 is nil. Box 20 asks for an analysis of boxes 16 and 19 and the three numbers given in Box 20 add up to £2,350.

    Is the entry in Box 17 a mistake? It’s supposed to be for expenses but if it was the ‘missing’ income figure from Box 20 then he’s claimed a £500 deduction for something that is in fact £500 income.

    Certainly worth a S9A enquiry, just to clarify.

  12. @Dave

    “he may be below the threshold for interest to be taxed”

    He CAN’T be below the threshold for interest to be taxed. If you are thinking of the savings band that only applies where taxable non-savings income is less than the starting rate for savings. Savings and dividend income is always taxed as the highest part of total income. Corbyn earned, what(?) £64k +

  13. AndrewC>

    Are you one of our local tax accountants? I find it hard to keep track.

    My first impression, based on my fairly limited knowledge of tax returns, is that there’s a lot which should have been answered and wasn’t – even if the answers were ‘no’. I haven’t the knowledge of tax-return exceptions to know if that’s true or not, though.

  14. AndrewC>

    “If you are thinking of the savings band that only applies where taxable non-savings income is less than the starting rate for savings.”

    I think I was confusing the old and new regs, not having had sufficient caffeine at that point. Suffice it to say that I have no great understanding of this particular area of tax.

  15. @Dave

    The rule I referred to has been in place since the savings band was introduced in 2008-09. I’m not sure which ‘old’ and ‘new’ regs you are referring to.

  16. Witchsmeller Pursuivant

    He also hasn’t declared his role as Labour leader – which may not be paid directly, but most certainly comes with extensive benefits that are declarable if not taxable

    He didn’t become leader until Sep 2015, which means it wouldn’t be included on the 14/15 tax return.

  17. Just to clarify I most certainly am NOT an accountant!

    I trained with HMIT (as was) on the technical Tax Inspector course back in the early 90s. I’ve since jumped ship and work for the ‘other side’ but I have studiously avoided learning how to be an accountant.

    In truth, I think Tax Inspectors (and ex-Tax Inspectors) are much nearer being Tax Lawyers than Tax Accountants.

  18. Andrew>

    I’m sure either! Forget everything I said except the query regarding reporting. Corbyn should, at the very least, have declared a current account and the interest accrued to it, no?

    WP>

    Good point. But of course that rather makes a mockery of Corbyn’s claims to be releasing info equivalent to that released by Cameron and Osborne, since it doesn’t cover what he’s claiming it covers.

  19. @Dave

    ‘clever tax expert’

    ‘cunning tax expert’

    ‘loophole exploiting tax expert’

    ‘well paid tax expert’

    Are all acceptable, although the latter is often the least accurate.

  20. AndrewC

    No, box 20 is the breakdown of the income and expenses boxes 16 through 19: 1350 of lectures, 500 from filling in surveys and 500 of EXPENSES (share of “stay”?)

    It appears btw that Corbyn has overestimated the income from surveys if his register of MPs interests is correct.

    I dont believe that Corbyn has no savings outside ISAs. If the idiot forgot to declare his pension, it seems likely that he also forgot to declare interest income.

    I’m assuming that he lied about declaring his pension and is relying on the HMRC’s unwillingness to discuss personal tax affairs to cover him. Hopefully the press will not fall for this and demand to see the actual declaration.

  21. @Ken “No, box 20 is the breakdown of the income and expenses boxes 16 through 19: 1350 of lectures, 500 from filling in surveys and 500 of EXPENSES (share of “stay”?)”

    NO! The exact wording on Box 20 is

    “Description of income in Boxes 16 and 19…”

    There is no reference to expenses at all on Box 20.

  22. It should be a humbling lesson in just how painful a document it is to complete. Particularly when you are doing it at the last minute, or in this case, after the last minute.

  23. The leader of her majesty’s most loyal opposition is a paid post. Even if the holder is a pensioner.

  24. IMO anyone in position as an MP who has any income/expenses/benefits apart from their parliamentary salary and who does not engage a tax accountant to prepare their tax return is likely to be one or more of the following:

    a tax avoider / evader
    a class warrior for not wanting to engage tax professionals
    a supercilious twat who thinks that “tax needn’t be taxing”
    a minted left wing fvcking hypocrite with loads of dosh who wants to be able to plead ignorance when their concealment is discovered
    a fvcking tightwad clown
    an MP of the political persuasion of Dianne Abbott/Jeremy Corbyn

  25. AndrewC

    OK, you’re right it does say 16 and 19, but Corbyn appears to have put in box 17 expenses, “share of cost of stay” (I cant be certain but I think that is what he has written).

  26. Alastair Harris

    Some current accounts and all savings accounts. Most people have a little float of rainy day money in an easy to access account.

  27. Perhaps the most important point about this. MPs cost the exchequer the net cost of their salaries plus the collection cost, plus the net cost of any public service they consume. The tax is irrelevant. In that sense it is Boris who is the largest contributor to the public purse, followed by George. Corbyn is all cost.

  28. Bloke in North Dorset

    Ironman,

    “There are others such as Burham and Abbott who don’t want us to.see what they’ve got.”

    I don’t think they care what readers of this and similar blogs think. What they are worried about is what the rest of the left will say when they realise that the class warriors have quietly got rich. Popcorn time when it happens.

  29. BiND>

    Anecdata from when Corbyn was campaigning for leadership of the Labour party: when presented with hard evidence of his wealth, his supporters simply continue with flat-out denial.

    Incidentally, I may have missed it, but I don’t think we’ve had an explicit statement from Corbyn about whether or not he owns a stake in the company that owns his constituency office. Did I miss one?

  30. The question yet to he asked is that if Corbyn the tax bodger has been under reporting his tax this year it is likely he has been doing so for years. How much tax has he cheated us out of?

  31. “£500 from filling in surveys”

    I thought filling in surveys paid peanuts, so he must have done thousands to get £500. Delighted to see that he is spending his time on things like that rather than campaigning for his Party.

  32. He had a lodger, apparently. The rent-a-room allowance back then was £4250, so about £80 per week. Can one really rent a bedroom in London for £80 a week? Smells a bit to me.

  33. On the bank interest, the main reason I can think of for not having any interest to declare is that he was permanently overdrawn. Which would fit with his economic policies.

  34. dearieme>

    The price of a room varies depending on who you have to share the house with…

    Seriously, though, a) lodging is worth less than renting a room, because you do not have rights as a tenant, and b) I know someone who pays about that for their lodging – mates’ rates, of course, but then many people would rather receive less income and live with someone they like/trust.

  35. Thanks, Dave, I didn’t know there was a distinction between lodging and renting a room. Probably the journalist who said that Corbyn had had a lodger didn’t either.

    Still worth a little wonder, perhaps: he could put the matter to rest by publishing his bank statements.

  36. If the person was living in the same house/flat as Corbyn, then he was almost certainly a lodger rather than a tenant. If not, the bigger story is Corbyn’s buy-to-let…

  37. Eugh. Did nobody ever tell him he should be using his “filling official form” handwriting not his “notes to self” handwriting.

  38. He’s filled in the wrong form; he’s used the standard employee page (SA102) rather than the special one for MPs (SA102MP).

    This means he hasn’t put his Parliamentary expense claims on his tax return, which he might have done had he used the right pages:

    http://www.gov.uk/government/uploads/system/uploads/attachment_data/file/501416/sa102mp-2016.pdf

    According to IPSA, for that year he claimed £15,188 office expenses and £174 travel expenses, which should have been declared on his tax return (SA102MP, boxes 3 & 5).

    (He should have put them on anyway, even in the wrong form (SA102, box 16, “expenses payments received”), but it’s probably a bit more obvious on the proper Parliamentarian pages)

  39. Corbyn has (had?) a lodger? Fucking hell, that’s either some buddhist version of hell or the greatest sitcom set-up since Fatty Owls.

  40. Interesting that McDonnell also failed to report the Parliamentary expenses.
    Maybe they all don’t bother.

  41. @Dave, dearieme etc
    I suspect that a lodger paying some of the common expenses doesn’t count as Jezza’s income. Many years ago a friend who temporarily displaced from his flat while his landlord/godfather was having repairs done to his house asked if he could use temporarily the second bedroom in my flat (intended for relatives visting London) and offered to pay rent – my response was yes to (i) but *NO* to (ii) – terms of my lease – but he recompensed me for the parking space I rented for his car. At the time I checked that I wasn’t receiving any taxable income.

  42. Witchsmeller Pursuivant

    @john77

    Under the Government’s Rent A Room scheme, a resident landlord can charge the the lodger up to the full cost of the utility bills without any tax being due. And remarkably, the threshold for tax-free earnings under the scheme rose by over 40% last week to £7,500. This fact appears curiously under-reported given that ALL resident landlords will be effectively receiving a whopping £3,250 increase to their income tax allowance.

    An added bonus to having lodgers is that they will usually be considered excluded tenants, and can thus be easily disposed of when one becomes bored of the arrangement – no lawyers, no courts, just change the keys after reasonable notice.

    https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme

  43. “Under the Government’s Rent A Room scheme, a resident landlord can charge the the lodger up to the full cost of the utility bills without any tax being due.”

    Not quite. IF you charge a lodger for gas/elec it is ILLEGAL to charge more than you are charged. This is nothing to do with rent-a-room.

    The tax angle is separate.

    If, for example, you charged your lodger (say) £5,000 a year for rent plus £1,500 a year for gas/elec when your gas/elec only cost you £1,000 you would be breaking the law but would have no tax liability (following the uplift in the rent-a-room rate).

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