Had he simply paid all the extra money he extracted from Ecotricity as salary or bonus, Vince would have coughed up nearly £27m in income tax, assuming a rate of 45 per cent. Of course, it’s hard to know the counterfactual, or precisely what he did pay. But, according to the tax expert Dan Neidle, the £7m share buyback would probably have been taxed at the top dividend rate, which was 37.5 per cent in 2015, while the £33m difference between his purchase and sale of shares in the Electric Highway Company would (assuming that HMRC concluded that the purchase cost of £49 really was market value) have been taxed at the capital gains tax rate then prevailing of just 20 per cent.
Worth reading this about Dale Vince. No, he doesn;t pay himself dividends, as he says he wouldn’t. It’s also true that his cash extraction from the company is really interestingly tax efficient. But read it all.
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Why did God decide that all socialists must be hypocrites? His dry sense of humour?
Well…. He certainly isn’t using a certain Sage from Ely as his accountant, that’s for sure..
Isn’t he one of those self-styled millionaires who says he wants to pay more tax?
Oh yes, oooooh, yes he is.
He wants to pay MOAR TAX so deeply, desperately, much that he’s nearly started.
But not quite desperate enough to follow Tim’s suggestion that he posts a voluntary cheque to HM Treasury.
Worth noting that Ed Millionaireband says “Renewables are cheaper” and millionaire Dale Vince uses the excuse that renewables are more expensive to charge a price higher than the price cap for electricity from renewables.
Dale Vince is a giant cunt.
A wizard’s sleeve of the genus.