Panama Paradise Papers

Discussion in 'world politics, current affairs and news' started by Bernie Gunther, Apr 3, 2016.

  1. DotCommunist

    DotCommunist my world is fire and blood

    apropos of nothing my uncle two days hence expressed a fierce desire for 4 minutes alone in a room with Osborne. Just out of nowhere, discussing general politics, then out comes the evil voice he does when he expresses a desire to hurt people.
     
    rhod and J Ed like this.
  2. brogdale

    brogdale Coming to terms with late onset Anarchism

    Unleash :D
     
    Libertad likes this.
  3. Dr Alimantado

    Dr Alimantado Balmed

  4. DownwardDog

    DownwardDog Riding a Brompton with a power meter.

    That's the opposite of dodging tax. If they'd made a profit (instead of paying the dividends) they would have paid corporation tax on it. The dividends are subject to income tax which is higher than corporation tax. Whatever the reason they did it (probably to shaft one of the other directors) it wasn't to save tax.
     
  5. Vintage Paw

    Vintage Paw dead stare and computer glare

    I believe it's been stated elsewhere that Osborne has 15% of the shares in Osborne & Little.

    They haven't paid corporation tax for several years.
     
  6. Ming

    Ming Massive prawns

    Actually on reflection (John's) i think i'll become a drugs rep for Pfizer and hand out M&S sandwiches on hospital wards i'm attempting to rip off. OH!!!! THEY'VE ALREADY BEEN PRIVATISED!!!!! hahahahahahahahahh. God being brainy is marvelous isn't it? Unless you act like a cunt.
     
    J Ed likes this.
  7. free spirit

    free spirit more tea vicar?

    not if you're paying dividends to those who don't pay UK tax, which means they were paid at 0% tax. It looks like changes coming into force from this tax year mean that there's a minimum of 7.5% tax to be paid on all dividends whether you're a non-tax payer or not.

    So they've probably just brought forward the dividends to enable their offshore shareholders to extract as much from the company as they can tax free before the new rules come in.

    Dividends are also not subject to tax at the same rate as other income.

    Tax on dividends - GOV.UK
    Tax on dividends - GOV.UK
     
  8. Humberto

    Humberto Your world. Your life. Your debt.

    Did he break the rules?
     
  9. free spirit

    free spirit more tea vicar?

    I don't think so on that bit.

    Private Eye have been chasing him for ages though about the fact that Osbourne and Little did a development deal for some land they owned worth millions with an offshore registered property development company.

    So in that way Osbourne has benefitted from dealings with offshore companies, and that dividend is probably a direct result of that deal.

    So the answer to the question of whether he's personally benefited in any way from offshore tax havens would be very different to the question he's so far answered about stating that he himself doesn't own any offshore funds / shares.

    To me, if someone has benefited financially from something that they're making decisions about then they should at least declare a conflict of interest and abstain from any related decisions.
     
  10. discokermit

    discokermit Well-Known Member

    osbourne is cacking it over how much he was earning when he lowered the top rate tax. boris has knifed him good with five years worth when no one was asking him. almost beautiful.
     
  11. free spirit

    free spirit more tea vicar?

    what's borris done? I've seems to have missed this.
     
  12. discokermit

    discokermit Well-Known Member

    released his taxreturns for the last five years. makes gideon look a cunt.
     
  13. discokermit

    discokermit Well-Known Member

    four years.
     
  14. Wilf

    Wilf Meeting few of his KPIs

    It would be an astonishing level of stupidity if he turned out to have been lying over not being a top rate tax payer for that year. A perfect gift to any investigative journalist who wanted to follow it up and get the numbers, as people have been doing on this thread. Unless it turned out he gave himself some wriggle room by only being say £200 into that bracket, it would be a resigning matter surely?

    It would be so stupid to have told an outright lie that my pure guess is that he was telling a technical truth - that his income was so packaged up with trusts and the body swerves that he didn't get over the top threshold in that year.
     
  15. ruffneck23

    ruffneck23 Well-Known Member

    I would hope that the man who is looking after the countries money isn't that stupid.

    But then again doing too much coke does make you reckless, so we can only hope.
     
  16. brogdale

    brogdale Coming to terms with late onset Anarchism

    Simple way for to clear that one up.
     
  17. Wilf

    Wilf Meeting few of his KPIs

    Yep, over to you George. :thumbs:
     
    J Ed likes this.
  18. ffsear

    ffsear Well-Known Member

  19. brogdale

    brogdale Coming to terms with late onset Anarchism

    Even the state broadcaster appears to think there a bit of ripe small rising from this...

    How Osborne denied being a winner of his 2012 Budget, 22/03/2012, Today - BBC Radio 4
     
  20. Wilf

    Wilf Meeting few of his KPIs

  21. ruffneck23

    ruffneck23 Well-Known Member

    so lies then
     
    Vintage Paw and Chilli.s like this.
  22. Wilf

    Wilf Meeting few of his KPIs

    Yep, absolutely. He said everything below on budget day 2012. Using the present tense he was wrong to say he was income was below £150000 and that he didn't have other sources of income - and he was even more dishonest to claim he wouldn't be affected in the future by his own tax cuts. Utterly dishonest - though I suspect there isn't enough there for Labour/journos to get him sacked.

     
  23. Dr Alimantado

    Dr Alimantado Balmed

    Doesn't appear to have been lies as there weren't any dividends in years 2007-2014, so if he was still splitting rental income with his wife & this wasn't any higher back then it doesn't look like he would have been on more than £150K. I'm being nicer to him than the Bullingdon Club were!
     
    Wilf likes this.
  24. Wilf

    Wilf Meeting few of his KPIs

    If poor George was living on less than 150 grand plus barely more than two free houses, I have every sympathy for him. Truly we are all in it together.
     
  25. pesh

    pesh Well-Known Member

  26. ruffneck23

    ruffneck23 Well-Known Member

    very good Frankie :)
     
  27. William of Walworth

    William of Walworth Festographer

  28. William of Walworth

    William of Walworth Festographer

  29. two sheds

    two sheds not as daft as i look

  30. brogdale

    brogdale Coming to terms with late onset Anarchism

    Any C4 News watchers who are regularly sickened by the 'arslikhan' loyalty of tory class-warrior Chris Philp's appearances, will be pleased to see that "Inside Croydon" have put an interesting piece relating to his Panama views:-

    MP Philp’s questions unanswered over Pluto tax affairs
     

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