Transparency For Thou But Not For Moi

I’ve long argued for the contention in the title of this blog. I am convinced legal limited liability is a privilege – after all, if people sign a piece of paper to form a company they no longer have to accept full responsibility for their debts. That’s an extraordinary state of affairs, and a massive privilege. But I think that, like all responsibilities, this one comes at a price. The price is to say who you are i.e. to disclose who really owns the company and who really runs it, as well as to say what you do i.e. to put true and fair accounts on public record.

This does not apparently apply to the taxes paid by LLPs. Says the man who runs his tax campaigning organisation through an LLP.

8 thoughts on “Transparency For Thou But Not For Moi”

  1. But LLPs don’t pay any tax, their Members do individually, and how much depends on all their other tax affairs. It’s therefore not meaningful.

    I’m opposed to this “publish your tax return” nonsense but would happily make an exception for Murphy on grounds of his hypocrisy. Do as I do …

  2. Bloke in Oxford

    When asked to publish his return he insists it’s all there, in ‘his’ LLP accounts.

    It wouldn’t actually be in his sole trader financial statements; it certainly can’t be there in any financial statement of any partnership through which he trades.


  3. Ironman

    I agree entirely. Only his personal tax return, plus that of his wife if she’s the other Member of the LLP, would provide transparency.

    He knows full well publishing the LLP accounts is entirely meaningless in terms of tax.

    Hypocrite indeed!

  4. What, if anything, does Fulcrum chartered accountants do? It is mentioned on Ritchie’s CV on his website (although that dates from 2006). Is Ritchie seriously giving accountancy and tax advice to real people?

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