Big business dodging taxes? Best base the entire economy around this otherwise it’s communism.
What do you mean a big company that makes millions not paying taxes that’s shocking shocking I tell you
Unfortunately nothing new here; big companies use every financial trick they can to get out of paying tax and if that doesn’t work lobby to get tax laws changed. It’s a shame that everything in the UK is for sale.
This is the oldest trick in the book. It’s not only how multinationals operate, it’s kinda why they exist.
Big corps are allowed, nay, encouraged (i.e. freeports) by the Tories to dodge tax in this way, but you even *think* about protecting and it’s an ankle tag for you!
I’m not sure this is the gotcha that the authors think it is and it’s unclear what point they are actually making. Using loan notes as consideration between connected parties is fairly common practice and I wouldn’t expect any tax to be payable by the purchaser of IP and tax is payable on profit, not revenue so the revenue figure given means nothing. You also wouldn’t be able to conclude on the tax treatment of the intangibles without looking at the tax computation which isn’t publicly available. It’s also not clear what entity they are referring to – for example McDonald’s Restaurants Uk Limited paid £75m in tax in 2018 per their accounts.
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Big business dodging taxes? Best base the entire economy around this otherwise it’s communism.
What do you mean a big company that makes millions not paying taxes that’s shocking shocking I tell you
Unfortunately nothing new here; big companies use every financial trick they can to get out of paying tax and if that doesn’t work lobby to get tax laws changed. It’s a shame that everything in the UK is for sale.
This is the oldest trick in the book. It’s not only how multinationals operate, it’s kinda why they exist.
Big corps are allowed, nay, encouraged (i.e. freeports) by the Tories to dodge tax in this way, but you even *think* about protecting and it’s an ankle tag for you!
I’m not sure this is the gotcha that the authors think it is and it’s unclear what point they are actually making. Using loan notes as consideration between connected parties is fairly common practice and I wouldn’t expect any tax to be payable by the purchaser of IP and tax is payable on profit, not revenue so the revenue figure given means nothing. You also wouldn’t be able to conclude on the tax treatment of the intangibles without looking at the tax computation which isn’t publicly available. It’s also not clear what entity they are referring to – for example McDonald’s Restaurants Uk Limited paid £75m in tax in 2018 per their accounts.