joeyconcrete Posted February 9, 2009 Share Posted February 9, 2009 The electronics giant and the Manx connection http://www.guardian.co.uk/business/2009/fe...dixons-isle-man Despite Britain's generosity, those who run the Isle of Man continue to market their island as a tax haven, with low income tax, company secrecy, and zero corporation tax. Link to comment Share on other sites More sharing options...
manxman2 Posted February 9, 2009 Share Posted February 9, 2009 we should tell them we no longer require theyre protection .. and they can shove their V.A.T. kick back up their collective assholes.. should of followed jerseys lead years ago imo.. a bit difficult now as the films that are made here contribute a rather large worldwide VAT kick back. .. and politicians like easily gained large chunks of cash to spend on their follies .. after all their directorships depend on it.. Link to comment Share on other sites More sharing options...
Cronky Posted February 9, 2009 Share Posted February 9, 2009 When an Icelandic bank collapsed there last year, Darling was flinty towards those offshore savers who demanded a UK bail-out. He observed: "When things go wrong, people then say, 'What about the British compensation scheme?' " The Gaurdian is depressingly short on detail on this minor point I think. Link to comment Share on other sites More sharing options...
Stavros Posted February 9, 2009 Share Posted February 9, 2009 Yet Revenue insiders say there is £100m of tax at stake, enough to build a school or hospital or two Not over here it's not! Link to comment Share on other sites More sharing options...
Mr. Sausages Posted February 9, 2009 Share Posted February 9, 2009 The Guardian will examine the extent of tax avoidance by big business, day by day over two weeks. We are naming more than 20 major British companies, and analysing their secretive tax strategies to ask: are they paying their fair share? There are loads of captive insurance companies set up on the IOM by large (and not so large) UK firms. "Tax efficiency" is what they're all about. What isn't mentioned is that there are just as many in Dublin, Malta, Guernsey, Jersey, Bermuda etc. The thrust behind the Guardian article seems to be 'UK helps the IOM, so they should be nice back'. Link to comment Share on other sites More sharing options...
oldmanxfella Posted February 9, 2009 Share Posted February 9, 2009 Who cares what that socialist piece of bog paper thinks. All the captive insurance companies set up here are highly legitimate structures that whilst they may save a bit of tax also save the UK company a bucket load of expense that would otherwise be given to insurance companies to externally underwrite their risks. Its pity they don't pubish stories on the massive corporate tax abuse undertaken through Ireland or Luxembourg by the big multi nationals instead of focusing on the petty cases like this that are backed by a genuine business case. Link to comment Share on other sites More sharing options...
keyboarder Posted February 10, 2009 Share Posted February 10, 2009 "Tax efficiency" is what they're all about. And what the whole Tax Gap series in The Guardian has been about. It's all been rather informative about various tax avoidance schemes actually, the legality of which has been stressed throughout. Link to comment Share on other sites More sharing options...
Kurashima Posted February 10, 2009 Share Posted February 10, 2009 "Tax efficiency" is what they're all about. And what the whole Tax Gap series in The Guardian has been about. It's all been rather informative about various tax avoidance schemes actually, the legality of which has been stressed throughout. Anyone else think that over the coming weeks , the Guardians "Investigative Journalism" will do little more than reprint verbatim the offshore avoidance schemes that have been exposed in Private Eye over the last 24 months? (Tesco in particular will watch this one closely, as theyve already sued over calling them Tax Avoiders). Media groups will feature heavily (why miss the chance to land a cheap shot on a rival publication and its owners) , as will financial institutions who sell their buildings to offshore trusts (often owned by a newly registered company within the same group). Its nothing new, its just playing on the current public lack of information about how offshoring works. Do a Google for "Tesco Yellow" and I bet you cant find it. But along with Tesco Red , Blue and Green , its a very entertaining piece of "Tax Efficiency". Link to comment Share on other sites More sharing options...
cheesemonster2005 Posted February 10, 2009 Share Posted February 10, 2009 we should tell them we no longer require theyre protection .. and they can shove their V.A.T. kick back up their collective assholes.. should of followed jerseys lead years ago imo.. a bit difficult now as the films that are made here contribute a rather large worldwide VAT kick back. .. and politicians like easily gained large chunks of cash to spend on their follies .. after all their directorships depend on it.. There's nothing good on TV tonight so I'm going to take the piss out of people's grammar instead. Link to comment Share on other sites More sharing options...
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