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- 33. Margaret Hodge's family company pays just 0.01pc tax on Â£2.1bn of business generated in the UK...
Margaret Hodge, chairman of the Public Accounts Committee, is facing embarrassing revelations over the tax affairs of her family company just days before she is due to lead the grilling of US companies over controversial tax arrangements. The Labour MP has been one of the fiercest critics of tax avoidance by companies such as Starbucks, Google and Amazon. However, she is likely to face questions over the limited tax paid by Stemcor, the steel trading company in which she owns shares and which was founded by her father and is run by her brother.Analysis of Stemcor’s latest accounts show that the business paid tax of just £163,000 on revenues of more than £2.1bn in 2011. However. it is not known whether the company – which made profits of £65m – used similar controversial tax avoidance measures criticised in the past by Mrs Hodge.
URL: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9668396/Margaret-Hodges-family-company-pays-just-0.01pc-tax-on-2.1bn-of-business-generated-in-the-UK.html - 66KB - 10 Nov 2012
Excerpt: rss feed for tax articles telegraph co uk dcsimg...
- 34. This cynical ''tax the rich'' lie | Mail Online
The Lib Dems say the better-off must share the pain of austerity. In fact, as this analysis shows, the top 10% - including many who are hardly plutocrats - already pay nearly 60% of Britain’s taxes.Ever since the hurricane of the credit crunch began to lash the global economy, the pain of the downturn has been compounded by a powerful sense of injustice.For one of the central themes in public debate about the present economic crisis is the idea that the rich have not been contributing their fair share to our troubled nation.According to this view, the ordinary British people have borne the brunt through rising costs and falling living standards, while the wealthy have evaded any real impact of the slump.As the Budget approaches, the belief that more cash should be extracted from the rich is gaining further currency. Much of the impetus for this comes, of course, from the Liberal Democrats, anxious to parade their egalitarian credentials.Business Secretary Vince Cable has been banging the drum for a mansion tax on properties worth more than £2 million, and if that fails, the Lib Dems are determined to see some other means of imposing a tougher tax regime on those who are regarded as affluent.
URL: http://www.dailymail.co.uk/debate/article-2112327/This-cynical-tax-rich-lie.html - 98KB - 09 Mar 2012
Excerpt: 5 day forecast this cynical 8216 tax the rich 8217 lie by david green...
- 35. 50p tax rate is damaging economy and delaying recovery from recession, warn 500 business leaders...
The 50p higher rate of income tax is “damaging the economy” and delaying the recovery from recession, more than 500 entrepreneurs and business owners warn today.In a letter to The Daily Telegraph, the bosses of small and medium sized firms across the country say the levy has meant they have not expanded their firms and taken on more workers.They accuse George Osborne, the Chancellor, of putting “populist politics before sound economics”. Calling for it to be scrapped, they add that the ongoing imposition of the 50p higher rate of tax has left “wealth creators” in a “very awkward position”.The intervention is likely to alarm the Government ministers as those who have signed today’s letter represent the “bedrock” of British industry, whose future success is key to the economic recovery. It is the first time that these ordinary business owners have set out the damage caused by the levy.
URL: http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9114651/50p-tax-rate-is-damaging-economy-and-delaying-recovery-from-recession-warn-500-business-leaders.html - 108KB - 01 Mar 2012
Excerpt: rss feed for tax articles telegraph co uk dcsimg...
- 36. Labour plots ANOTHER raid on pensions: Party plans to use money to pay for........
The party's manifesto will pledge a cut on tax relief for those earning over £150,000, who currently get back 45p in the pound but would only receive 20p.
URL: http://www.dailymail.co.uk/news/article-2577048/Labour-plots-ANOTHER-raid-pensions-Party-plans-use-money-pay-guarantee-jobs-young-people-work-year.html - 322KB - 10 Mar 2014
Excerpt: that labour plans to slash the tax relief on pensions labour plots...
- 37. Ford's £80m EU loan to boost Turkey factory - and close ours (From Daily Echo)
THE Daily Echo can reveal today that a huge payout of EU cash was made to Ford just before the company closed its Southampton plant – and it went to boost Transit production in Turkey.This paper has already disclosed how £10m of UK Government cash was approved to help British Ford operations just days before the Swaythling bombshell was dropped.And now we have learnt that a cheap £80m EU loan to ramp up production of Transit vans in Turkey was also signed off just months before Ford’s devastating Southampton announcement.
URL: http://www.dailyecho.co.uk/news/10020273.Ford_s___80m_EU_loan_to_boost_Turkey_factory___and_close_ours/ - 503KB - 26 Jul 2013
Excerpt: and will bring in more corportation tax and local rates for the authorities...
- 38. The Connection Between High Taxes and Stagnant Wages
Obama's investment tax hikes wouldn't just harm wealthy investors, but American workers.
URL: http://dailysignal.com/2015/02/07/the-connection-between-high-taxes-and-stagnant-wages/ - 63KB - 07 Feb 2015
Excerpt: uncle sam stands outside a tax preparation office photo anthony...
- 39. Mansion owners can sleep easy as tax plans are 'scrapped'... but now top earners face pensions...
Top earners face a crackdown on their pensions after Nick Clegg and David Cameron agreed to drop Liberal Democrat plans for a so-called mansion tax, it has been reported.Those who earn more than £150,000 could have their tax breaks on contributions to retirement funds reduced.The new raid on the wealthy comes as part of a Coalition deal that would allow the Tories to succeed in their cherished aim of scrapping the 50p top rate levied on income over £150,000 before 2015.
URL: http://www.dailymail.co.uk/news/article-2111425/Mansion-owners-sleep-easy-tax-plans-scrapped--earners-face-pensions-crackdown-Coalition-deal.html - 160KB - 07 Mar 2012
Excerpt: mansion owners can sleep easy as tax plans are scrapped but now top...
- 40. Heard the truth about the "Bedroom Tax"? It was Labour's idea | Ipswich...
In 2004 the Labour Government introduced nine pathfinder authorities for a new scheme of housing benefit called Local Housing Allowance. This replaced housing benefit for those in private sector rented accommodation.The LHA introduced the concept that claimants were entitled to a number of bedrooms based on their circumstances.When it was being debated in Parliament, Conservative MPs challenged the Government over its implementation in the private sector only. They asked if the Government planned to introduce it into the public rented sector. The Labour Government said:“We hope to implement a flat rate housing benefit system in the social sector, similar to that anticipated in the private rented sector to enable people in that sector to benefit from the choice and flexibility that the reforms can provide. We aim to extend our reforms to the social rented sector as soon as rent restructuring and increased choice have created an improved market.”So it was always the intention of the Labour Government to introduce reforms to the social rented sector, in the same way as they had introduced reforms to the private rented sector.
URL: http://ipswichspy.wordpress.com/2013/11/13/heard-the-truth-about-the-bedroom-tax-it-was-labours-idea/ - 120KB - 28 Mar 2014
Excerpt: the truth about the 8220 bedroom tax 8221 it was labour 8217 s idea 8230...
- 41. David Cameron hints government may bring back 10p tax rate | Mail Online
The Treasury is thought to be considering plans that have been drawn up by Conservative MPs for a chunk of taxable income – probably the first £2,500 – to be taxed at 10p in the pound rather than the current rate of 20p.
URL: http://www.dailymail.co.uk/news/article-2278413/David-Cameron-hints-government-bring-10p-tax-rate.html - 206KB - 14 Feb 2013
Excerpt: hints government may bring back 10p tax rate in move that could put 250 in...
- 42. Taxman to target all £1m home owners in new anti-affluence crackdown as government widens net on...
Mansion tax forced through back door by Nick Clegg: Taxman to scrutinise assets of ALL £1m home owners to see if they are dodging their dues in new 'anti-affluence' crackdown.Fellow Lib Dem Danny Alexander, the Treasury Chief Secretary, who was accused of benefiting from a tax loophole on second homes, told The Mail on Sunday that the Coalition is to launch a triple-pronged attack on the well-off designed to raise hundreds of millions of pounds.Mr Alexander said he and Mr Clegg would love to go further and impose a mansion tax on homes worth over £2 million, arguing it is the hardest kind of wealth tax to avoid. ‘You cannot dodge it – a home is not something you can shuffle off to Monaco,’ he said.Critics are bound to point out that Mr Alexander was at the centre of a tax furore of his own in the MPs’ expenses scandal.He admitted using a loophole to legally avoid paying Capital Gains Tax by designating his London property as his second home for his MPs’ expenses – but described it to the HMRC as his main home.
URL: http://www.dailymail.co.uk/news/article-2207197/Taxman-target-1m-home-owners-new-anti-affluence-crackdown-government-widens-net-tax-dodgers.html - 209KB - 23 Sep 2012
Excerpt: as government widens net on tax dodgers owners of homes worth 1m or...
- 43. Ed Miliband'ss windfall tax on tobacco to fund the NHS is economically illiterate | The Spectator
The ‘windfall tax’, a concept introduced in the UK by the Blair government, is by definition a one-off seizure of revenue from a profitable industry, to fund an invariably unprofitable but popular project. It has been justified as putting ‘right a bad deal’ on the excesses of profits of unpopular industries. Between 1997 and 1998, Gordon Brown raised £5 billion from privatised utility companies to fund the Welfare-to-Work Programme.Today we have face another well-intentioned policy initiative, of ensuring every NHS patient is guaranteed a cancer test within 7 days, supposedly to be funded by a windfall tax on tobacco companies. Labour’s incoherent economic policy is enough to challenge whether this plan is even sustainable for anything but a short period of time. But the wider concept of a windfall tax is more political gimmickry than sound sustainable policy.
URL: http://blogs.spectator.co.uk/spectator-surgery/2014/10/ed-milibands-windfall-tax-on-tobacco-to-fund-the-nhs-is-economically-illiterate/?utm_source=rss&utm_medium=rss&utm_campaign=ed-milibands-windfall-tax-on-tobacco-to-fund-the-nhs-is-economically-illiterate - 141KB - 20 Oct 2014
Excerpt: blogs ed miliband 8217 s windfall tax on tobacco to fund the nhs is...
- 44. What can Councils do to promote economic growth
I was asked to talk about this question at a meeting at Conference.Growth comes from people wishing to do new things, to buy new goods and services, to renovate and improve their homes, to transform their lives and their environments in ways they like and can afford.All too often Councils are the official bodies who are out to stop them doing this, or out to tax and charge them for daring to try.Most local businesses depend on the van. Plumbers and loft insulators, new goods deliverers and conservatory builders come by van. Most of us do not live next to the station. We rely on the flexible and ubiquitous van, which may not always be white, to turn up with the goods or the service. Professional and on line services often depend on the car to get the providers to their place of work or to the customer’s home if needed.Many Councils see the van and the car as an opportunity to raise tax revenues, to charge them and to restrict their use. If Councils really wanted to help the local economy they would see that they need to do much more to allow reasonable vehicle access to potential customers, and to allow potential customers access to shops and other centres of trade. They could......
URL: http://johnredwoodsdiary.com/2012/10/10/what-can-councils-do-to-promote-economic-growth/ - 197KB - 15 Dec 2012
Excerpt: to stop them doing this or out to tax and charge them for daring to try...
- 45. Conservatory tax to be axed: Ministers signal a retreat on charity tax relief too | Mail Online
Ministers are to scrap plans for a ‘conservatory tax’ following a massive Tory backlash.A senior Government source told the Mail that the proposals are ‘dead in the water’.This latest abrupt U-turn comes only a week after we revealed the move which would force homeowners to fork out hundreds of pounds extra on measures to improve energy efficiency when they build an extension or fit a boiler.Although the Liberal Democrat-inspired plans are still out for consultation, the source said: ‘We are absolutely not going to have a conservatory tax. It is an attack on aspiration and we want nothing to do with it. It will be blocked.’
URL: http://www.dailymail.co.uk/news/article-2130237/Conservatory-tax-axed-Ministers-signal-retreat-charity-tax-relief-too.html - 159KB - 16 Apr 2012
Excerpt: c clear 5 day forecast conservatory tax to be axed for being an attack on...
- 46. Scandal of 150,000 migrants paying just £1 a week in tax | UK | News | Daily Express
AROUND 150,000 eastern European migrants are putting just £1 a week into Britain’s tax coffers.Others in low-paid jobs contribute virtually nothing after tax credits and benefits are taken into account.And as a result of our topsy-turvy benefits system some immigrant families are even costing the taxpayer nearly £300 a week.The shocking figures were set out in a report from think-tank Migration Watch into the hidden costs to public funds of the mass influx of newcomers from the EU. It dealt a blow to claims by supporters of open borders that mass immigration boosts the economy.
URL: http://www.express.co.uk/news/uk/473156/Scandal-of-150-000-migrants-paying-just-1-a-week-in-tax - 106KB - 30 Apr 2014
Excerpt: migrants paying just a 1 a week in tax scandal of 150 000 migrants paying...
- 47. New Research: £28.5 billion lost to black market alcohol, tobacco and diesel in just five years...
The TaxPayers’ Alliance (TPA) has revealed that £28.5 billion of tax revenue has been lost to the illicit market in spirits, beer, cigarettes, hand rolling tobacco and diesel between 2005-06 and 2009-10. The tax gap, detailed in an annual report from HM Revenue and Customs (HMRC), would have been more than enough to fund a 1p cut in the basic rate of Income Tax.
URL: http://www.taxpayersalliance.com/new_research_28_5_billion_lost_to_black_market_alcohol_tobacco_and_diesel_in_just_five_years - 48KB - 02 Jul 2015
Excerpt: revealed thata a 28 5 billiona of tax revenue has beena lost to thea...
- 48. George Harrison and Gordon Brown were right about tac, Chancellor, so cut the 45% rate and get Britain Booming
I believe George Osborne should use next week's Budget to bring the top rate of tax back down from 45 to 40 per cent, writes JOHN REDWOOD, Tory MP for Wokingham.
URL: http://www.dailymail.co.uk/debate/article-3141899/George-Harrison-Gordon-Brown-right-tac-Chancellor-cut-45-rate-Britain-booming-writes-Tory-veteran-JOHN-REDWOOD.html - 210KB - 28 Jun 2015
Excerpt: and gordon brown were right about tax chancellor so cut the 45 rate and...
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