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Ritz Hotel Cooking the books...

BertieUK
BertieUK Posts: 1,701 Forumite
in Debate House Prices & the Economy
It would seem to be the trend nowadays....

.......The accounts show that the profitable hotel has used a series of tax reliefs to reduce its corporation tax to zero........


http://www.bbc.co.uk/news/uk-20729430
«1345

Comments

  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    No surprise there, they are all at it.

    The only ones paying tax are the poor PAYE schumcks like me!
    Thinking critically since 1996....
  • BertieUK
    BertieUK Posts: 1,701 Forumite
    It comes back to the old saying that there is 'One Law for the rich, no law for the poor...

    ....infact theguardian had some interesting facts in their report...

    http://www.guardian.co.uk/commentisfree/2012/mar/11/roman-abramovich
  • kabayiri
    kabayiri Posts: 22,740 Forumite
    Part of the Furniture 10,000 Posts
    It would probably be quicker and shorter to list out the corporations who do pay significant tax.

    Are there any left?

    Perhaps we should campaign for a luxury VAT rate on things like upmarket hotel accommodation. :) We'd soon claw back this VAT the Barclay Bro's seem to be intent on redeeming.
  • BertieUK
    BertieUK Posts: 1,701 Forumite
    What can we do to harness the tax from this massive fortune that is being invested in 'off-shore' accounts.

    Or is that not the way governments see it, like saying if we do not give top bankers large bonuses they will go 'off shore' themselves.
  • BobQ
    BobQ Posts: 11,181 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Combo Breaker
    BertieUK wrote: »
    It would seem to be the trend nowadays....

    .......The accounts show that the profitable hotel has used a series of tax reliefs to reduce its corporation tax to zero........


    http://www.bbc.co.uk/news/uk-20729430

    Just been watching BBC Panorama. It seems that the owners are less than keen to have this kind of debate about their very reasonable behaviour.
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    BobQ wrote: »
    Just been watching BBC Panorama. It seems that the owners are less than keen to have this kind of debate about their very reasonable behaviour.

    I wonder how many customers of the hotel pay full UK taxation either?:think:
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    if it aint illegal, then nobody has done anything wrong. Odd how people bash successful business these days.

    I hate paying tax as well, thumbs up to anyone who does not pay any more than they have to!
  • BertieUK
    BertieUK Posts: 1,701 Forumite
    wymondham wrote: »
    if it aint illegal, then nobody has done anything wrong. Odd how people bash successful business these days.

    I hate paying tax as well, thumbs up to anyone who does not pay any more than they have to!

    The trouble with that point is that at PAYE level you do not have any choice in the matter. I suspect that their profits are diverted away from getting caught in the taxation net, thats what I bash out at.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    BertieUK wrote: »
    I suspect that their profits are diverted away from getting caught in the taxation net, thats what I bash out at.

    Totally within the law...........
  • BertieUK
    BertieUK Posts: 1,701 Forumite
    edited 18 December 2012 at 7:01PM
    Thrugelmir wrote: »
    Totally within the law...........

    Yes I understand what you are saying, but is this really a fair way of conducting business, or is this the only way they can remain in business?

    This is all very confusing to an old codger like me because there seems to be many angry comments being made recently about this topic.

    Maybe someone could explain the pros and cons please. Or is that looking for trouble?
This discussion has been closed.
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