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Tax Avoidance again...
...except, unlike foreign firms like Starbucks, Amazon and Google which have been lambasted by the media, a British firm doing the same goes largely unreported. Rolls Royce, despite making a pre-tax profit of £1.4bn, paid absolutely no corporation tax last year and neither did it the year before. I know tax avoidance is a real bugbear for some on here so how come Rolls Royce allowed to get away with it?
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Well I for one am boycotting them. I'm not going to buy ANY Rolls-Royces until they start paying tax ;)
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I've cancelled my phantom since finding out about this
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If we're talking about Rolls Royce, the British company, surely this has nothing to do with car manufacturing? :wonder:
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Originally Posted by markjmd
(Post 11014477)
If we're talking about Rolls Royce, the British company, surely this has nothing to do with car manufacturing? :wonder:
http://www.bbc.co.uk/news/uk-england...shire-21661506 |
Fair point - I'll boycot buying any private jets with their engines then!
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Yup, and the fcuking tax man will chase us plebs from John O'Groats to Lands End for a measly fiver while these massive companies get away scot free, sheer crazy!
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Originally Posted by RA Dunk
(Post 11014506)
Yup, and the fcuking tax man will chase us plebs from John O'Groats to Lands End for a measly fiver while these massive companies get away scot free, sheer crazy!
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Originally Posted by ScoobyWon't
(Post 11014522)
Why not play the same game? Get yourself a good accountant and minimise your tax.
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Originally Posted by ScoobyWon't
(Post 11014522)
Why not play the same game? Get yourself a good accountant and minimise your tax.
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But They Are Paying Something, National Insurance For Every One The Employ In The UK, And Don't Forget They Are Actually Making A Real Product Not A Cup Of Coffee!
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Project I'm working on is being managed out of Switzerland, not saying who I work for though :D
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Originally Posted by Ray T
(Post 11014629)
But They Are Paying Something, National Insurance For Every One The Employ In The UK, And Don't Forget They Are Actually Making A Real Product Not A Cup Of Coffee!
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They also have huge VAT liabilities every quarter too.
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Originally Posted by ScoobyWon't
(Post 11014522)
Why not play the same game? Get yourself a good accountant and minimise your tax.
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Originally Posted by Ray T
(Post 11014629)
But They Are Paying Something, National Insurance For Every One The Employ In The UK, And Don't Forget They Are Actually Making A Real Product Not A Cup Of Coffee!
However, I don't see reports of the same plebs protesting in Derby outside RR HQ. |
If this is Rolls Royce engines - the aerospace division, I Believe most of their sales are exports to large Aircraft companies like Quantus/Airbus and they will still pay lots of tax, just not to the UK. At least they employ plenty of people and will be paying into the pot that way, as well as actually still producing something decent from the UK.
Its not that long ago I recall they paid a £100m fine for the grounding of some aircraft due to an engine safety issue. things like that will eat into your tax bill nicely. LOL No arguments from me that it seems odd that they pay NO Tax, but its unlikely to be as cut and dried as Joe Bloggs on the dole will like to make out. |
"No man in the country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or property as to enable the Inland Revenue to put the largest possible shovel in his stores. The Inland Revenue is not slow, and quite rightly, to take every advantage which is open to it under the Taxing Statutes for the purposes of depleting the taxpayer's pocket. And the taxpayer is in like manner entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Inland Revenue"
Lord Clyde Nuff said... |
+1.
Emphasis on Honestly. |
Shall we create lots of threads about companies not breaking the law????........The words 'tax avoidance' are used liked they are a crime. Not a crime at all, just smart accounting and knowledge of tax laws.
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Originally Posted by Graz
(Post 11014668)
Project I'm working on is being managed out of Switzerland, not saying who I work for though :D
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Originally Posted by Stu @ Internet Brands
(Post 11014838)
If this is Rolls Royce engines - the aerospace division, I Believe most of their sales are exports to large Aircraft companies like Quantus/Airbus and they will still pay lots of tax, just not to the UK. At least they employ plenty of people and will be paying into the pot that way, as well as actually still producing something decent from the UK.
Its not that long ago I recall they paid a £100m fine for the grounding of some aircraft due to an engine safety issue. things like that will eat into your tax bill nicely. LOL No arguments from me that it seems odd that they pay NO Tax, but its unlikely to be as cut and dried as Joe Bloggs on the dole will like to make out. This ^^^ RR will contribute significantly to the UK economy, notwithstanding that the group is not apparently contributing to the Treasury by way of corporation tax. As do Amazon, Starbucks and all. |
Originally Posted by markjmd
(Post 11014558)
Easy to say, but in practice these megabucks dodges used by big corporations only work because of out-of-date cross-border tax rules, meaning they're out of reach for anyone without a multinational presence.
What is required is a tax on internal sales or transfers. It would stop EU countries being used as "manufacturing centres" and the sale being counted as outside the EU because the company has done an internal sale to the sales company in Switzerland. |
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