Just to prove that people really are losing minds over this, we have an insistence from a Professor of Practice that “I know that it will be claimed to be due to the intellectual property having been developed in the USA. But let’s be candid; IP is worthless without a customer and it is UK customers who create the value added in this country, and not the IP as such.”
It’s worth just savouring that. JK Rowling created considerable intellectual property with her books, but it’s the readers who provide it, so therefore JK must be paying tax everywhere else and not in the UK – or perhaps only in the UK on her UK sales. Or we could be using the standard international agreement that tax is paid where and by whom the economic value is created. JK in the UK under our rules and Facebook in the US under whatever their rules are.