Gladys Posted July 3, 2021 Share Posted July 3, 2021 2 minutes ago, Flyingfemme said: They could also get tough on allowing things like interest on loans to buy back shares; that’s not a business function , it’s gaming. Not sure what you have in mind here. By allowing do you mean allow it as an expense against tax or allowing it to be charged in the first place? How does it become gaming? Is the loan for the company to buy back its own shares? Just seems you have a very specific thing in mind, but I am not sure what it is. 1 Quote Link to comment Share on other sites More sharing options...
SleepyJoe Posted July 3, 2021 Share Posted July 3, 2021 Murphy on the OECD deal " because the deal is obviously not good enough there will have to be another round" The OECD does a tax deal and it’s time for tax justice to begin to shift its focus for the sake of developing countries (taxresearch.org.uk) Quote Link to comment Share on other sites More sharing options...
Boris Johnson Posted July 3, 2021 Share Posted July 3, 2021 15 hours ago, finlo said: I feel sorry for the young ones of today as the nightlife here is utter Shite compared to what we had in the 70's/80's/90's. I know what you mean but my kids and their mates don't seem to mind. Going out to night clubs is not as big a "thing" anymore, well not like it was back in the day. They can meet the opposite sex on apps which is a lot easier than trawling the nightclubs of Douglas and they don't seem to drink like we did in the day. Quote Link to comment Share on other sites More sharing options...
finlo Posted July 3, 2021 Share Posted July 3, 2021 2 hours ago, Boris Johnson said: I know what you mean but my kids and their mates don't seem to mind. Going out to night clubs is not as big a "thing" anymore, well not like it was back in the day. They can meet the opposite sex on apps which is a lot easier than trawling the nightclubs of Douglas and they don't seem to drink like we did in the day. You mean you don't have to ply them with Babycham or bottles of green all night now? 1 Quote Link to comment Share on other sites More sharing options...
Flyingfemme Posted July 5, 2021 Share Posted July 5, 2021 On 7/3/2021 at 8:44 AM, Gladys said: Not sure what you have in mind here. By allowing do you mean allow it as an expense against tax or allowing it to be charged in the first place? How does it become gaming? Is the loan for the company to buy back its own shares? Just seems you have a very specific thing in mind, but I am not sure what it is. Sorry. Perhaps not explained very well. It is getting quite common for public companies to buy back shares. They do this for various reasons but one is that reducing the number of shares increases their eps and makes them look “better” - hopefully driving the share prices higher. Using this as a way to distribute available cash is one thing, but borrowing to do it strikes me as “gaming the system” and should not be allowed. Company borrowing used to be limited to things necessary to run the company; manipulating the share price is not necessary and distributions can be made the traditional way of declaring dividends. Quote Link to comment Share on other sites More sharing options...
Gladys Posted July 5, 2021 Share Posted July 5, 2021 33 minutes ago, Flyingfemme said: Sorry. Perhaps not explained very well. It is getting quite common for public companies to buy back shares. They do this for various reasons but one is that reducing the number of shares increases their eps and makes them look “better” - hopefully driving the share prices higher. Using this as a way to distribute available cash is one thing, but borrowing to do it strikes me as “gaming the system” and should not be allowed. Company borrowing used to be limited to things necessary to run the company; manipulating the share price is not necessary and distributions can be made the traditional way of declaring dividends. Buy back of shares is an immensely complex area as is funding. The basic proposition is that a company can only buy back shares from capital, a new share issue or distributable reserves, but there are exceptions and dispensations under the UK 2006 legislation, particularly for private companies. For a listed company there are also likely to be listing requirements to satisfy. The process is heavily procedural and directors are also under a general duty to act in the best interests of the company and not detrimental to creditors, so an obviously uncommercial arrangement could render them personally liable apart from any specific penalties in the legislation. Also, buy back of shares is an accepted part of company capital structuring and there may be cases where there are sufficient distributable reserves (accumulated profits) but not cash, so borrowing is a realistic option. It may be the only way for a shareholder to exit. The borrowing may be secured and as a loan for commercial reasons, you would expect interest to be charged. There will also be tax considerations to take into account for the company, the lender and the exiting shareholder. Like I said, a specific example of this being abused would be useful, but on the face of it I can't see how it is abusive or uncommercial. Having said that, like all legal arrangements it could be exploited by the unscrupulous but that doesn't mean the option should not be available for the rest. 2 Quote Link to comment Share on other sites More sharing options...
John Wright Posted August 28, 2021 Share Posted August 28, 2021 Richard Murphy and John Christensen leave Tax Justice Network Writing on his blog, Mr Murphy said: “As has been apparent for some time, I have become increasingly critical of the Tax Justice Network and what I think to be its particularly destructive approach to the issues on which I once helped it campaign. “It is now clear that I am not alone in thinking this. For much of its first decade John Christensen and I worked tirelessly for TJN, and John stayed for very much longer as I took on new projects. John has now made it clear that he shares my view of the state to which TJN has descended.” Quote Link to comment Share on other sites More sharing options...
Danoo Posted August 28, 2021 Share Posted August 28, 2021 On 7/2/2021 at 7:01 PM, Max Power said: Yes, all the IOMG need to do to kickstart a lot of investment is to create a full blown University IoM! The boost to the economy would be enormous, entertainment, night life, sport, student accommodation (a return to guest houses?) services, catering and a vibrant island. Once the students return home, we have all of the tourism facilities for summer ready and waiting. Parents visiting etc throughout the year also adds to the tourism boom we would generate. Maybe we could have lower tuition fees to attract students? Generally students are intelligent people and not too troublesome but we would then need a larger police force for the increase in population. This way we get our increase in spending and population without having the downside of building all over the island. It also makes it more feasible for tech businesses to locate here with a ready supply of graduates. Beats cruise ships. Quote Link to comment Share on other sites More sharing options...
quilp Posted August 28, 2021 Share Posted August 28, 2021 On 7/2/2021 at 7:01 PM, Max Power said: Yes, all the IOMG need to do to kickstart a lot of investment is to create a full blown University IoM! The boost to the economy would be enormous, entertainment, night life, sport, student accommodation (a return to guest houses?) services, catering and a vibrant island. Once the students return home, we have all of the tourism facilities for summer ready and waiting. Parents visiting etc throughout the year also adds to the tourism boom we would generate. Maybe we could have lower tuition fees to attract students? Generally students are intelligent people and not too troublesome but we would then need a larger police force for the increase in population. This way we get our increase in spending and population without having the downside of building all over the island. It also makes it more feasible for tech businesses to locate here with a ready supply of graduates. International University up for discussion in Guernsey. Banker will be delighted... https://guernseypress.com/news/2021/08/27/a-guernsey-university-could-still-happen-says-deputy-who-backed-concept/ 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted August 28, 2021 Share Posted August 28, 2021 1 hour ago, quilp said: International University up for discussion in Guernsey. Banker will be delighted... https://guernseypress.com/news/2021/08/27/a-guernsey-university-could-still-happen-says-deputy-who-backed-concept/ Glad to see someone else keeps in touch with Guernsey news !! It’s been kicked out as too expensive Quote Link to comment Share on other sites More sharing options...
quilp Posted August 28, 2021 Share Posted August 28, 2021 23 minutes ago, Banker said: Glad to see someone else keeps in touch with Guernsey news !! It’s been kicked out as too expensive And it cost them quarter of million to commission an inquiry into its feasibility and from the article it looks like they managed to get their sums mixed up!! Remind you of anywhere? 2 Quote Link to comment Share on other sites More sharing options...
Danoo Posted August 28, 2021 Share Posted August 28, 2021 Surely we would have a better attraction than Guernsey. Students can get off here to Liverpool for a proper night out if we can get a decent craft that can navigate winter weather better than the Mannanan. 2 Quote Link to comment Share on other sites More sharing options...
John Wright Posted August 28, 2021 Share Posted August 28, 2021 1 hour ago, Danoo said: Surely we would have a better attraction than Guernsey. Students can get off here to Liverpool for a proper night out if we can get a decent craft that can navigate winter weather better than the Mannanan. Guernsey can offer France, much nearer, much more attractive. GSY and JSY suffer from exactly the same issues with fast craft as we do, however. They’re none of them allowed to sail with more than 3.5m wave height. Quote Link to comment Share on other sites More sharing options...
Derek Flint Posted August 28, 2021 Share Posted August 28, 2021 The government has completely lost the plot if they think a full university is a viable proposition. These things cost hundreds of millions to run, and they are hard sell businesses in respect of attracting students. And being able to get home quickly and cheaply for a weekend is also a big plus. considering the mess they made of the much vaunted International Business School, this is an idea best quietly forgotten. 1 Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted August 28, 2021 Share Posted August 28, 2021 First of all, I assume this will be aside from UCM and not some sort of Frankenstein mess. So we'd be looking at a new facility and a campus with accomodation for at least the fiirst years students. Say you aim to be a top 100 University by size, that is 15,000 students. Say 3,000 -4,000 in each year, so you'd need 12,000 private sector 'digs' within walking distance of the campus. Now factor in gettig suitably qualified teaching staff and adminsitrators to relocate to the island. I'm afraid we'd end up with the same scenario as health care. Pay over the odds or accept lower standards if you factor in the cost of living and travel off island for conferences, research and private sector work duirng the summer. Where we could go, is online like the Open University or even ally with them and specialise in specific areas and use schools and college facilities for 3 or 4 week face to face courses. Block book local hotels with the right offering and give them a guarenteed income between TT & MGP. Pick them up at Liverpool or from the Airport with a coach. Likewise, enhance the faciliities at the Grandstand (left empty for 40+ weeks of the year) for seminars and study in conjunction with the UCM site, St Ninians and Ballakermeen. The one thing we do not want is the DoE involved other than ensuring the DESC/schools charge the market rate for facilities used. Then I woke up. LOL Quote Link to comment Share on other sites More sharing options...
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