Tax has nothing to do with any of this. So, let’s stop the stupid claims that it does. Anyone who has researched this knows that even large companies put it way down their list of priorities.
Man who’s spent decades shrieking about what companies will do to lower their tax bill insists companies don;t care very much about their tax bill?
So all those companies set up in Luxembourg or Ireland by chance?
Back in the day when spud was an accountant he advised clients on how to minimise their tax bills. Strange that he could make a living out of something the clients didn’t care about.
@Philip
All the indicators suggest he is not very wealthy. It’s entirely possible that he didn’t tell his clients how to minimise their tax bills, so they went on to be clients making money for another accountant.
The O&G companies operating on the UKCS have tax low down their priority list.
It’s why the standard of living in Aberdeen is going to take a serious nosedive shortly.
And that’s despite the transparent attempt to bribe the Scots by putting the new GB Energy headquarters there.
The repellent Potato has made this type of claim many times:
“I was a senior partner in a number of accounting firms and, in all my years of practice, none of my clients ever took any action purely to reduce or avoid taxation.”
Clearly Charlie Mullins received better advice than he would have got from Murphy, Deeks Nolan.
Pimlico Plumbers founder to sell £12m penthouse as he flees Britain ahead of tax raid
Charlie Mullins ready to have ‘no assets in the UK’ ahead of looming Budget tax rises
Mullins leaving the UK? Gosh, and they said Sir Kier Stalin would bring only bad news…
As is often the case he is conflating the two subjects
Will individual taxpayers leave the U.K. quite possibly? For all the reasons outlined in his original post. These are apparently what will keep Them here.
– They have parents here
– And children in school here
– And all their friends here
– Their golf club is here
– They of their family can only speak English
– They can’t afford a house in a tax haven
– Taxes elsewhere may well be higher than here
– Brexit might deny them a visa
– They can’t afford healthcare elsewhere – and won’t get if for free in Europe now
He then segues into a consideration of companies prioritisation. Companies are already commencing the winding up Or descaling of U.K. operations for a whole react of reasons. And as I have tried to explain to him and his ilk, the simple maths is 100% of zero is zero. However, you may as well try to talk to a cow: you’d likely get more sense from a source of bovine, rather than intellectual flatulence!!
In order to justify investment one has to promise that the future return will be greater than the present cost – otherwise one is pouring money down the drain. It is traditional to assume that the *average* investor will want a positive return of 3% p.a. to justify putting money into an investment [the philanthropists making “impact” investments may be content to see non-monetary returns but company directors spending *other people’s* money should not be].
The returns to investors are *always* after tax imposed by the governing jurisdictions.
Tax has to be higher up their list of priorities than returns to shareholders (otherwise they go to jail).
So what are the long list of priorities that come above taxation that comes above the legal purpose of the company that is to create returns for shareholders? [Worker safety usually comes first for a lot of companies engaged in businesses known to be dangerous, but that is only one.]
They can’t afford healthcare elsewhere – and won’t get if for free in Europe now
This is supposed to be a reason? People can’t afford health care in the UK. The price of UK healthcare is lack of treatment. Nobody in their right mind would use the NHS if they had an alternative.
Haven’t (even) the BBC acknowledged that 9,500 “millionaires” so far have already left, or are in the process of leaving, the UK, to avoid Labour’s “redistributive tax plans”?