Pay back £0 at £0 a week!!!

[DirtyEddie]

In the past three years, Philip Green has paid his family some £2bn in dividends from Bhs and Arcadia. And because his retail companies have been set up so that they are in effect owned by his wife, Tina, a Monaco resident, the Green family have saved close to £500m in tax.

When Mr Green paid his family £1.2bn in October last year, he financed it by taking out a loan. Although this is a common form of financial engineering in privately owned companies, it had the benefit of cutting Arcadia's corporation tax bill, as the interest charges on the loan could be offset against profits. In this way, wealth was simply being redistributed from taxpayers to Mr Green's family.

<a class="postlink" href="http://www.independent.co.uk/news/business/analysis-and-features/analysis-the-rich-get-richer-in-poor-old-britain-470417.html" onclick="window.open(this.href);return false;">http://www.independent.co.uk/news/busin ... 70417.html</a>

technically this is legal. but does that make it right?

in this topic:
<a class="postlink-local" href="http://forums.bluemoon-mcfc.co.uk/viewtopic.php?f=5&t=204025" onclick="window.open(this.href);return false;">viewtopic.php?f=5&t=204025</a>
posters suggest a woman who deprived the taxpayer of £40k should be jailed and have all her assets taken off her to pay back the money. now since sir philip and his family have deprived the tax payer of 12,500 times as much money what should his punishment be?

personally i think nothing short of a knighthood and a job advising the government is in order. its only fair.

 

[Hamann Pineapple]

Make him wear a BHS suit

 

[yerwot?]

the argument is that those who dont pay tax will be driven out if we close the loophole and thus lose the tax they dont pay,best leave well alone then(sarcasm)

 

[DirtyEddie]

the argument is that those who dont pay tax will be driven out if we close the loophole and thus lose the tax they dont pay,best leave well alone then

all is required is a simple rule: make money in this country, pay tax on it. whats he going to do? move all his shops abroad or close them down? its a ridiculous argument with no basis in reality.

 

[blue fingers]

the argument is that those who dont pay tax will be driven out if we close the loophole and thus lose the tax they dont pay,best leave well alone then

all is required is a simple rule: make money in this country, pay tax on it. whats he going to do? move all his shops abroad or close them down? its a ridiculous argument with no basis in reality.

Spot on- the 'people moving their skills or business abroad' bullshit is just the Tories way of protecting their rich mates, and most importantly- their rich selfs.

 

[law74]

the argument is that those who dont pay tax will be driven out if we close the loophole and thus lose the tax they dont pay,best leave well alone then

I agree,
If we close this loophole then we as a nation are going to lose that massive amounts of tax that these people evade every year.
Can we afford to do without these massive amounts that these people (like lord sainsbury) donate to their own bank balance rather than the nation that makes & can break)them?
Where is my local Topshop?
I want to help bankrupt my country?