Odd Things – Tax Paid by Giant Corporations

Starbucks, Google, Facebook, Vodaphone, Barclays and other multinationals pay no or very little corporation tax on the profits of their enterprises in the United Kingdom. This is because they do not make profits in the United Kingdom, for corporation tax is paid on the profits of corporations. Nevertheless they turnover billions of pounds in the United Kingdom but make technical losses here and therefore have no corporation tax liabilities. Continue reading

Entertaining the Taxman

The feeling that there is one law for the rich and another for the poor is strongest and most easily demonstrated when it comes to tax affairs. We all have to pay tax, whether we like it or not, or suffer the draconian consequences. We have to pay promptly and devote quite a lot of our resources, if we run a business, in figuring out the various taxes and getting the money to the tax man. For this we need to employ bookkeepers, accountants and others to discharge our duty. Continue reading