Lords defeat government over tax credits cut

[Pudney]

I don't see how any of this counteracts the key point of the column which is that a seemingly successful company can not return any tax in seven consecutive years.

Except they haven't been successful for seven years. But no mention of that. Shoddy.

 

[dowie]

I don't see how any of this counteracts the key point of the column which is that a seemingly successful company can not return any tax in seven consecutive years.

Would you prefer his dad paid some corporation tax and took money out in dividends instead of a large salary?

 

[scorza]

Except they haven't been successful for seven years. But no mention of that. Shoddy.

A £104k pay rise to £684k a year ain't bad for a company that's failed for the last seven years.

 

[Pudney]

A £104k pay rise to £684k a year ain't bad for a company that's failed for the last seven years.

What's your point other than you don't understand business, accountancy and corporate tax?

An owner gave themselves a pay rise despite losses in previous years. Yeah. That happens. A lot. Really, a lot. It's because after poorer years the business can afford to pay more.

 

[Danthus]

Except they haven't been successful for seven years. But no mention of that. Shoddy.

If I said a company paid £4000 in Corporation Tax for the year would you say they have had a good year?

 

[Pudney]

If I said a company paid £4000 in Corporation Tax for the year would you say they have had a good year?

Oh look, let's pull out Facebook as an example. The company that had never made a profit at the time of its IPO.

 

[scorza]

What's your point other than you don't understand business, accountancy and corporate tax?

An owner gave themselves a pay rise despite losses in previous years. Yeah. That happens. A lot. Really, a lot. It's because after poorer years the business can afford to pay more.

Again I haven't said that they've broken any rules by doing this. Like Private Eye I'm just giving people the facts here and letting them decide what's what here.

 

[Danthus]

Oh look, let's pull out Facebook as an example. The company that had never made a profit at the time of its IPO.

Was it not a valid example?

 

[Pudney]

Again I haven't said that they've broken any rules by doing this. Like Private Eye I'm just giving people the facts here and letting them decide what's what here.

You're presenting facts in a way to lead people to form an opinion that suits you, not the facts. It's toxic and offensive to me, partly because I look at the issue in an ethical and impartial way.

 

[Pudney]

Was it not a valid example?

Not when we're talking about a small London business. Facebook is a ridiculous example.

 

[scorza]

You're presenting facts in a way to lead people to form an opinion that suits you, not the facts. It's toxic and offensive to me, partly because I look at the issue in an ethical and impartial way.

I don't think a 'professional tax advisor' is in any position to lecture anyone in ethics tbh.

 

[Danthus]

You're presenting facts in a way to lead people to form an opinion that suits you, not the facts. It's toxic and offensive to me, partly because I look at the issue in an ethical and impartial way.

Is it ethical to exploit loopholes?

 

[Danthus]

Not when we're talking about a small London business. Facebook is a ridiculous example.

Starbucks?

 

[Pudney]

I don't think a 'professional tax advisor' is in any position to lecture anyone in ethics tbh.

I don't really care if you're narrow minded and prone to categorise a group of people in a particular manner. In lafemmefatalle's words, "that's your problem".

 

[Hitman_Leon]

1) Capital allowances - tax version of accounting depreciation to give relief to capital expenditure, e.g. plant, machinery, vehicles etc. Not available on certain capital expenditure like land or buildings. So bog standard and normal it's boring.

2) Adjustment in respect of prior years - it's an adjustment to the accounting tax provision of prior years to adjust to the actual tax paid to HMRC.

3) Timing difference - it's in the name. There's a timing difference between accounts and tax for deductibility of certain items.

4) Historic losses - woop de doo, they made £200m of sales. Corporation tax isn't paid on sales so how is that a useful metric?

5) Credit in 2010 - how? It's highly likely to be an accounting correction to correct an OVER recognition of tax.

Seriously, journalists should be banned from reporting on tax matters in this way. It seriously damages the good work HMRC do, and unfairly paints companies as being somehow abusive.

No tax in 2015? No **** Sherlock. 2011, 2012 and 2013 were loss making.

Thanks, I don't really know my way around the issues in the article so it didn't mean a great deal to me. I surmise that's how articles like that get pushed around so much, not because people don't understand what they are reading but because they don't seek clarification before going off on a tangent interpreting things to be what they aren't.

 

[Pudney]

Is it ethical to exploit loopholes?

No, of course it isn't, what makes you think it would be?

 

[dowie]

If I said a company paid £4000 in Corporation Tax for the year would you say they have had a good year?

How would you know from that one piece of information?

Some companies focus more on expansion for example Amazon.

Twitter hasn't generally been profitable, yet it has successfully grown from a startup into a large tech company.

 

[Danthus]

No, of course it isn't, what makes you think it would be?

That is what tax specialists do.

 

[Pudney]

That is what tax specialists do.

No, that's what you think they do.

 

[Danthus]

How would you know from that one piece of information?

Some companies focus more on expansion for example Amazon.

Twitter hasn't generally been profitable, yet it has successfully grown from a startup into a large tech company.

Astra Zeneca?