Ed Sheeran paid more in tax last year than both Starbucks and Amazon

Discussion in 'UK politics, current affairs and news' started by editor, Oct 11, 2018.

  1. editor

    editor Taffus Maximus

    This is fucking outrageous

     
  2. Pickman's model

    Pickman's model Every man and every woman is a star

    i wonder how much the record companies made off sheeran and how much tax they paid
     
  3. Badgers

    Badgers Mr Big Shrimp!

    He has done something good then
     
  4. Pickman's model

    Pickman's model Every man and every woman is a star

    wait a minute. i take it £27m puts you over the 40% income tax mark. i make 40% of £27,000,000 £10,800,000. rather more than sheeran's contributed to the exchequer.
     
  5. Pickman's model

    Pickman's model Every man and every woman is a star

    not sure, badgers, not sure
     
    mojo pixy and Badgers like this.
  6. beesonthewhatnow

    beesonthewhatnow going deaf for a living

    Bought his long term sound engineer a Porsche for Xmas. Is involved in schemes to stop ticket touts. Pays his tax. Gets a thumbs up from me, even if his music is godawful :D
     
  7. Mrs D

    Mrs D . Banned

    19% corporation tax on Ed Sheeran Ltd's profits of 27 million.
     
  8. Pickman's model

    Pickman's model Every man and every woman is a star

    right, he's taken m'learned friends' advice on minimising his tax exposure.
     
    SpookyFrank likes this.
  9. maomao

    maomao 四月她爹

    It's just under 20%. He'll have set himself up as a company and be paying company director rates. Little tax-dodging wanker.
     
  10. Mrs D

    Mrs D . Banned

  11. Teaboy

    Teaboy It definitely looks brighter over there..

    That's not tax dodging that's how the system works if you own your own company. You'd do the same if your company was window cleaning. Its a silly system for sure, but that's the system it is.
     
  12. shakespearegirl

    shakespearegirl just worked out taglines

    You also have to pay tax on (roughly 7%) dividends and personal income tax if you exceed £40k in dividends in a year.

    A LTD company isn't to simply avoid tax, but to protect yourself if the company goes bankrupt.
     
    paolo, Gerry1time and Dom Traynor like this.
  13. Teaboy

    Teaboy It definitely looks brighter over there..

    Yeah of all the shit things Sheeran does its an odd thing to pull him up on doing exactly what everyone else does in his situation.
     
    existentialist likes this.
  14. Mrs D

    Mrs D . Banned

    You could say the same about multinational corporations.
     
  15. shakespearegirl

    shakespearegirl just worked out taglines

    You could say the same thing about Joe Bloggs window cleaning company as well.

    There are lots of reasons people operate as Ltd Co's. Protection from bankruptcy, credibility with clients, client companies only engaging with Ltd Co's, ability to acquire industry insurance, many many more..

    There used to be loads of freelance sole traders in the creative industries, client companies more and more won't engage with sole traders so if you want to work freelance you have to become a Ltd Co
     
  16. MickiQ

    MickiQ Well-Known Member

    Whether someone should earn that much money from singing and and playing a guitar is a debatable point but different from the tax argument, on the face of it the man has paid his fair and due amount of tax.
    As for his music, I find him very variable some of his stuff is really good but some of it is fucking dire.
     
    William of Walworth and editor like this.
  17. Teaboy

    Teaboy It definitely looks brighter over there..

    That's rubbish. You seem to be making a comparison between complicated (but legal) tax avoidance schemes and following the rules set up by the government to encourage business. Like comparing being a non-dom with someone who has an ISA.

    But ultimately it is the system that needs to be sorted regardless.
     
    existentialist, editor, Bingo and 2 others like this.
  18. souljacker

    souljacker A bit of skullduggery

    The Ed Sheeran PR machine keeps rolling on. What a guy!
     
  19. Mrs D

    Mrs D . Banned

    The comparison was made in the OP
     
  20. ricbake

    ricbake working out how

    Taxman
    The Beatles
    Let me tell you how it will be
    There's one for you, nineteen for me
    'Cause I'm the taxman, yeah, I'm the taxman
    Should five per cent appear too small
    Be thankful I don't take it all
    'Cause I'm the taxman, yeah I'm the taxman
    If you drive a car, I'll tax the street,
    If you try to sit, I'll tax your seat.
    If you get too cold I'll tax the heat,
    If you take a walk, I'll tax your feet.
     
    weltweit likes this.
  21. Teaboy

    Teaboy It definitely looks brighter over there..

    No, a different comparison using the same companies / persons was made.
     
  22. editor

    editor Taffus Maximus

    If you found yourself paying more tax than two of the world's biggest and richest multi-national corporations, wouldn't you want people to know about it?
     
  23. souljacker

    souljacker A bit of skullduggery

    He (or rather, the CFO of Ed Sheeran Ltd) is just paying his tax properly like any company should. Is that such a rare thing that someone should be applauded for doing it? Meanwhile, someone leaks the story to the press, Ed once more comes out with extra shine on his "all round golden boy" trophy.

    And his music is shit too.
     
  24. Mrs D

    Mrs D . Banned

    He is only paying more tax than those companies pay in the UK though, he isn’t paying more tax than they do globally.

    It’s not really a big deal that rich and famous artists, footballers etc pay more tax than many companies in the UK. As is demostrated in Sheeran’s accounts the profit margin for an individual is much higher than for companies that employ lots of people and sell lots of stuff, so you’d expect them to pay a lot more tax on their revenue.
     
  25. MickiQ

    MickiQ Well-Known Member

    Amazon is worth a TRILLION dollars more than all but 30 of the world's countries, they don't pay a lot of tax back in the US either, In the entire EU (one third of the world's economy) they paid $15m tax on $19.5bn last year
    They're dodging tax alright, Regardless of any views on Sheeran's talents (or lack thereof) he is paying his share and Amazon isn't
     
  26. weltweit

    weltweit Well-Known Member

    It is going to be ok, he has Bob Geldof on his side :)
     
    MickiQ likes this.
  27. editor

    editor Taffus Maximus

    Yes I know, But the fact that he is paying more tax than two of the UK's biggest companies is insane to me, if not to you.
     
    Mr Moose likes this.
  28. Mrs D

    Mrs D . Banned

    Plenty of big UK companies make small profits and thus pay little tax, because of all their expenses. Debenhams for example. Wealthy individuals may earn a tiny fraction of what such companies earn, but don't have expenses to speak of and so pay a comparable amount of tax. It's not really the "insane" fact you make it out to be in my opinion. Sure some companies pay a lot less tax than others, but that's a separate issue.
     
    Last edited: Oct 11, 2018
  29. Gerry1time

    Gerry1time pities the neurotypical

    Only I doubt Ed Sheeran does jobs for cash in hand, forget about the tax, no questions asked.
     
    shakespearegirl likes this.
  30. stavros

    stavros Well-Known Member

    Those who use the loopholes available, and their cheerleaders, will always say that they pay the amount legally due. What are the reasons given by the legislators as to why these loopholes exist? The only ones I can remember off the top of my head are firstly that it makes the UK an attractive place to do business, and secondly that it encourages investment and innovation. The first sounds like advocating a race to the bottom, and the second can no doubt be argued by those with greater evidence than me.

    Are there other cited reasons for our myriad tax rules? (Note, I'm not asking for the true reasons, only what are voiced by the law-makers.)
     
    William of Walworth likes this.

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