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Farage Ltd and Similar Watch

It's quite the con trick he's pulling though. Managing to cultivate an image of not being like other politicians yet his actual ideas - a US style, pre-Obamacare health system, workfare for the unemployed, cutting workers' rights, withdrawal from the EU, flat tax and top rate cuts, City deregulation - are über-Thatcherite. Indeed they're largely too right wing for even the Tories to properly countenance. He's drawing support from disaffected working classes who would be hilariously disadvantaged by his policies if he were ever near power.
 
I find it extremely distasteful that the goon is taking Thatcherite policy and moving it to a level that even Tebbitt wouldn't have dared and is picking popularity on ONE single issue because he brays loudly about it.
 
I'm not for one minute going to vote for UKIP, but over the last month, I'm hearing more and more of companies with parent companies in Europe, where the UK arm is not allowed to make profit and honestly believe that we would be better off as a Country if we weren't part of the EU.
 
WOuld not being in the EU change that? Isnt it more to do with not exposing the UK arm to UK taxes on profits?
 
Visage said:
WOuld not being in the EU change that? Isnt it more to do with not exposing the UK arm to UK taxes on profits?
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That's what I thought it was. More to do with variable tax rates between countries rather than the EU itself.
 
Visage said:
WOuld not being in the EU change that? Isnt it more to do with not exposing the UK arm to UK taxes on profits?
Click to expand...

Yeah, that's exactly what it is, but I feel if we are out of the EU then we can put rules in place that don't have to go through European parliament. Mainly it's down to UK arm not been able to make profit, but I'm also hearing of companies that are not to carry any stock over into the next financial year, so write it off at year end.

Johnny75 said:
That's what I thought it was. More to do with variable tax rates between countries rather than the EU itself.
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Although our corporation tax rate is lower than those where the parent company sits, so a flat tax rate across the EU would make no difference.
 
But all mainstream UK parties seem intent on making business pay less tax not more. And Cameron's banging on about reducing red tape still further, despite us being just about the most flexible (read under-regulated) economy in Europe already. On leaving the EU, I'd say UK business would get even more leeway to avoid tax and reduce workers rights (a bit of a tangent, but still...)
 
Penk Wolf said:
Yeah, that's exactly what it is, but I feel if we are out of the EU then we can put rules in place that don't have to go through European parliament. Mainly it's down to UK arm not been able to make profit, but I'm also hearing of companies that are not to carry any stock over into the next financial year, so write it off at year end.



Although our corporation tax rate is lower than those where the parent company sits, so a flat tax rate across the EU would make no difference.
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The stock thing will just be a dodge to increase turnover - write it off at less than cost and you have less to take off your turnover figure.

There are bands for corporation tax in the EU, however there is felxibility (look at Ireland in the past..) but to stop it happening we would be much better off enforcing laws that tax is paid at the place of income generation
 
So Long Architect said:
But all mainstream UK parties seem intent on making business pay less tax not more. And Cameron's banging on about reducing red tape still further, despite us being just about the most flexible (read under-regulated) economy in Europe already. On leaving the EU, I'd say UK business would get even more leeway to avoid tax and reduce workers rights (a bit of a tangent, but still...)
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I'm not sure they do, I think they want to reduce the visible ones whilst increasing the hidden ones.

Why do you think we are under-regulated?
 
tredman said:
The stock thing will just be a dodge to increase turnover - write it off at less than cost and you have less to take off your turnover figure.

There are bands for corporation tax in the EU, however there is felxibility (look at Ireland in the past..) but to stop it happening we would be much better off enforcing laws that tax is paid at the place of income generation
Click to expand...

I assume you mean profit not turnover? It won't have any impact on turnover.

The scenario seems to be that the parent company is overcharging the subsidiary for the product, so I'm not sure how laws can be put in place.
 
Penk Wolf said:
I assume you mean profit not turnover? It won't have any impact on turnover.

The scenario seems to be that the parent company is overcharging the subsidiary for the product, so I'm not sure how laws can be put in place.
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I was referring to asset turnover.

Overcharging would fall foul of EU anticompetion rules, assuming they are operating as separate companies, which is sounds like they are.
 
I'm not sure asset turnover matters to them, it's all about reducing profits.

The price to the customer will be the same regardless of which company, it's just one company will be making more profit than the other, so I'm not sure it would affect anti-competition rules.
 
Penk Wolf said:
I'm not sure asset turnover matters to them, it's all about reducing profits.

The price to the customer will be the same regardless of which company, it's just one company will be making more profit than the other, so I'm not sure it would affect anti-competition rules.
Click to expand...

It does matter, having worked in export to the EU you are not allowed to artificially inflate or deflate pricing according to market or customer and you are specifically not allowed to specify margin
 
tredman said:
It does matter, having worked in export to the EU you are not allowed to artificially inflate or deflate pricing according to market or customer and you are specifically not allowed to specify margin
Click to expand...

So, writing off the stock is all part of the reducing profit reporting process? So, should it not be the auditors and accountants that should be target by HMRC, as it sounds like tax evasion to me?
 
Anyone think Proportional Representation would still be a good idea since UKIP's popularity has increased?
 
Never have thought it was a good idea, myself. Farage makes me even more certain.
 
i'm always nervous about arguaments that are based on "I dont like the results they may give".
 
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