Reform, and the death of the Tory Party

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OP
OP
briantrumpet

briantrumpet

Timewaster
BBC curiously mute about the £600k aggressive tax avoidance by proud patriot Richard Tice. They're probably saving the slot for something about Angela Rayner.

Fair dos, they've caught up now.

https://www.bbc.co.uk/news/articles/clyz0ep9g8lo

"The Labour Party has asked His Majesty's Revenue and Customs to investigate the tax affairs of Reform UK deputy leader Richard Tice.
Party chair Anna Turley wrote to the tax authority after the Sunday Times reported Tice had "avoided nearly £600,000 in corporation tax" through his property company. Turley said the article presented a "deeply troubling case which needs to be investigated with the utmost urgency"."
 
OP
OP
briantrumpet

briantrumpet

Timewaster
Seems like that's exactly what Miliband is doing by prioritising renewables and nuclear rather than dwindling North Sea reserves which don't belong to the government anyway, because Thatcher sold them all off.

1773655992423.png
 

CXRAndy

Epic Member
Retained licensing amd taxation rights over the oil fields

I agree compared to Norway, UK didn't create a sovereign fund.

Can you imagine the disaster if government controlled business had retained exploration and production control.

UK governments are notoriously bad at running anything
 

Stevo 666

Veteran
Ban party donations from companies. Anyone with an NI number and who is up to date with their taxes can donate say up to £5k per year max.

Or just ban political party donations all together.

Simpler than having some sort of moral appraisal committee for donations. Although not sure parties could function with that lack of funding and the taxpayer should not pick up the tab IMO.
 

icowden

Pharaoh
Simpler than having some sort of moral appraisal committee for donations. Although not sure parties could function with that lack of funding.
They have members. And membership fees.

I did think about central funding by the taxpayer, but it would be difficult to work out a fair system.
 
OP
OP
briantrumpet

briantrumpet

Timewaster
They have members. And membership fees.

I did think about central funding by the taxpayer, but it would be difficult to work out a fair system.

Meanwhile...

1773664144627.png
 
OP
OP
briantrumpet

briantrumpet

Timewaster
Seems fair.

https://www.thelondoneconomic.com/opinion/tice-must-go-404043/

"Politics in Britain has become far too fond of the ritual humiliation of public figures, a perpetual “gotcha” culture where every error is inflated into a resignation demand. We have generally tried to avoid joining the mob.

But sometimes the hypocrisy becomes so staggering that silence becomes complicity.

This week it emerged that Reform UK deputy leader Richard Tice used a complex corporate structure that allowed his company to avoid nearly £600,000 in corporation tax on more than £3 million in profits. The arrangement involved registering a property company as a Real Estate Investment Trust despite failing to meet the typical eligibility rules – a structure that tax experts described as “highly aggressive tax planning.”

It may well have been legal. That will be the defence. But surely it won’t pass muster when it comes to Britain’s political outrage machine. Right?

If you cast your mind back just a few months, Angela Rayner was found to have underpaid roughly £40,000 in stamp duty on a property purchase, provoking a furious response from the political and media establishment. The story dominated headlines, opponents demanded accountability, and the pressure became so intense that Rayner ultimately resigned from her government and party roles after an ethics investigation concluded she had not met the highest standards expected of ministers.

There was no nuance then.

There were no gentle reminders that complex tax rules can trip people up. No patient lectures about how “technically legal” arrangements are simply the product of a sophisticated tax system.

Instead there were calls for heads to roll."
 

Beebo

Legendary Member
Seems fair.

https://www.thelondoneconomic.com/opinion/tice-must-go-404043/

"Politics in Britain has become far too fond of the ritual humiliation of public figures, a perpetual “gotcha” culture where every error is inflated into a resignation demand. We have generally tried to avoid joining the mob.

But sometimes the hypocrisy becomes so staggering that silence becomes complicity.

This week it emerged that Reform UK deputy leader Richard Tice used a complex corporate structure that allowed his company to avoid nearly £600,000 in corporation tax on more than £3 million in profits. The arrangement involved registering a property company as a Real Estate Investment Trust despite failing to meet the typical eligibility rules – a structure that tax experts described as “highly aggressive tax planning.”

It may well have been legal. That will be the defence. But surely it won’t pass muster when it comes to Britain’s political outrage machine. Right?

If you cast your mind back just a few months, Angela Rayner was found to have underpaid roughly £40,000 in stamp duty on a property purchase, provoking a furious response from the political and media establishment. The story dominated headlines, opponents demanded accountability, and the pressure became so intense that Rayner ultimately resigned from her government and party roles after an ethics investigation concluded she had not met the highest standards expected of ministers.

There was no nuance then.

There were no gentle reminders that complex tax rules can trip people up. No patient lectures about how “technically legal” arrangements are simply the product of a sophisticated tax system.

Instead there were calls for heads to roll."

The right wing press will just turn a blind eye.
 

BoldonLad

Old man on a bike. Not a member of a clique.
Location
South Tyneside
Seems fair.

https://www.thelondoneconomic.com/opinion/tice-must-go-404043/

"Politics in Britain has become far too fond of the ritual humiliation of public figures, a perpetual “gotcha” culture where every error is inflated into a resignation demand. We have generally tried to avoid joining the mob.

But sometimes the hypocrisy becomes so staggering that silence becomes complicity.

This week it emerged that Reform UK deputy leader Richard Tice used a complex corporate structure that allowed his company to avoid nearly £600,000 in corporation tax on more than £3 million in profits. The arrangement involved registering a property company as a Real Estate Investment Trust despite failing to meet the typical eligibility rules – a structure that tax experts described as “highly aggressive tax planning.”

It may well have been legal. That will be the defence. But surely it won’t pass muster when it comes to Britain’s political outrage machine. Right?

If you cast your mind back just a few months, Angela Rayner was found to have underpaid roughly £40,000 in stamp duty on a property purchase, provoking a furious response from the political and media establishment. The story dominated headlines, opponents demanded accountability, and the pressure became so intense that Rayner ultimately resigned from her government and party roles after an ethics investigation concluded she had not met the highest standards expected of ministers.

There was no nuance then.

There were no gentle reminders that complex tax rules can trip people up. No patient lectures about how “technically legal” arrangements are simply the product of a sophisticated tax system.

Instead there were calls for heads to roll."

No way am I condoning Tice, and, there is zero chance of me voting Reform, but…. There are numerous examples of HMRC failing to pursue these dodgers. In the most recent edition of PE, there is an example of a charity, teetering on insolvency, and owning HMRC in the region of £1million, a tad careless on HMRC’s part, IMHO.
 

CXRAndy

Epic Member
It may well have been legal. That will be the defence. But surely it won’t pass muster when it comes to Britain’s political outrage machine. Right?

That's all that matters. Your fake outrage will fall on deaf ears.

I would do and everyone else with an ounce of business acumen the same avoidance.

:okay:
 

BoldonLad

Old man on a bike. Not a member of a clique.
Location
South Tyneside
Its not dodging, that implies something illegal.

Its tax avoidance, which is legal

I was mentioning more than one example.

In principle, yes, we would all minimise tax, anyone with an ISA is doing exactly that.

We can mince about with words (avoidance, aggressive, evasion, dodging, etc) but, IMHO, HMRC needs to put their big boys trousers on and persue the big players, not just us minions.
 
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