Charlie Uniform November Tango.

[Orange]

The £6bn number is total shit and the £2bn number is standard prudent practice when a company gets challenged.

[Orange]

But yeah, I'm probably too far gone :d

[Inertiaman]

I think the varying and continual opinion will always be divided by the spectators reasons for conclusion. If you decide that it's ok because it's legal (it demonstrably is) then you're on one side. If you decide that it's not ok because it's improper (it demonstrably is) you find yourself in another. Adherance to one conclusion sort of precludes giving a toss about the other.

[Inertiaman]

Originally Posted by Orange

The £6bn number is total shit and the £2bn number is standard prudent practice when a company gets challenged.

Out of interest on this - where does 2bn become standard practice - or is it that a certain % of the bill is standard practice and 2bn is just where it ends up here.

[Orange]

It's not demonstrably illegal, is probably a better way of describing it.

[Orange]

Originally Posted by Inertiaman

Out of interest on this - where does 2bn become standard practice - or is it that a certain % of the bill is standard practice and 2bn is just where it ends up here.

It's a judgment call, but by standard practice I mean that any company challenged on its tax position will take a provision against potentially losing that case. HMRC will have issued some form of enforcement notice, the auditors will have come up with a balanced view on what that could mean financially (with some probability weighting on the various outcomes) and they'll have sized the provision accordingly.

[Inertiaman]

Originally Posted by Orange

It's not demonstrably illegal, is probably a better way of describing it.

Point.

[Orange]

I hope I'm not re-writing history here, but I think that's really the crux of my point. In my view UKUnCut's argument has been that HMRC has made some sweetheart deal with Vodafone, and I don't think that's the case. The risk associated with going to trial, both from losing out of the tax paid and losing out on other firm's tax as a result of the precedent, was viewed too great.

[Inertiaman]

Which, if Voda legal knew this was a likely outcome of a given course is arguably worse behaviour than simply reaching an agreement.

[Orange]

Worse from what perspective? The outcome of this is that we don't have 100% clarity on whether EU or UK rules apply and HMRC keeps realising a moderate amount through settlements.

[Inertiaman]

Worse in that we have a flawed tax revenue authority (as it pertains to multinationals) who can be cheaply circumvented by international obfuscation and staring games. Obviously we need to retain the UK's position as a desirable place to set up shop for your average listed corp but as these whales continue to converge and grow it seems we'll be exposed to an even greater risk of avoidance.

Not looking for a black and white solution - but would like to think the HMRC is thinking of ways to ensure we continue to receive a fair slice of income generated within the UK market.

[Orange]

Settlements are just the reality of a world in which just about everything is up for challenge, and it's not a phenomenon constrained to the UK or Europe. This is less an observation that HMRC is flawed, and more that it operates in a legislative framework at odds with EU law. I don't think HMRC are sitting on their hands with respect to taxing multi-nationals (transfer pricing is much more rigorous than in the past, for example), but I don't know how they'd stack up on a worldwide comparison.

[Inertiaman]

Good to know they're not thought of as muppets from an informed perspective at least.

[Beef~]

Contrary to the popular press, HMRC are one of the most sophisticated tax authorities in the world. Sure, they make mistakes but equally the sheer volume and complexity of cross-border transactions is huge. They probably collect a reasonable amount of tax given this and I doubt realistically whether most people would really swap them for the tax authority of another country.

The biggest issue threatening the UK tax take is more likely to be competition from other jurisdictions rather than HMRC's competency. It is well circulated that the cost of a favourable rate in Luxembourg is the price of a slap-up meal for the tax inspector at a posh restaurant.

[Inertiaman]

http://edition.cnn.com/2012/06/18/wo...html?hpt=hp_t2
Sucks to be pakistani.

[Nomad]

pr move?

[D.Celt]

That's the most moronic thing i've ever read.

[Eja Cool8]

At least they're not targeting the recipients of said vaccine with violence as has happened in similar circumstances elsewhere.

Not yet, anyway.

[Scrobbs]

with regards the tax thing, is there any truth in the story surround the GS tax?

[Inertiaman]

http://www.bbc.co.uk/news/uk-politics-18531008

Pussy.

[burundi]

He should have braved out the fuss, perhaps only relented when all the MP's disclose their tax arrangements.

[Bilb]

1000 people using the tax avoidance scheme. 1 Comedian, 999 other comedians ... erm I mean MPs.

[Scrobbs]

Or perhaps, pick up the slack by writing more tax efficiency jokes about off-shoring. MPs, footballers etc.

[Inertiaman]

http://www.huffingtonpost.com/2012/0...n_1653591.html

An unusual deployment of the Charlie Uniform November Tango thread but still an apt one.

[Goody]

Originally Posted by Inertiaman

http://www.huffingtonpost.com/2012/0...n_1653591.html

An unusual deployment of the Charlie Uniform November Tango thread but still an apt one.

I tried a similar one for girls 10 and below but for some reason it totally flopped.

[Inertiaman]

http://www.dailymail.co.uk/femail/ar...ing-I-did.html

RaaaaaaggGGGHHHHEEEEE

[Orange]

That's the reaction the Daily Mail wants though! Take comfort in the fact that these quotes were probably fed to her.

[Inertiaman]

It's fairly local - and to be honest knowing Crawley I doubt the DM had to work too hard to make the little shit come across badly. The only comfort I draw from anything is that in the event of nuclear war Crawley will get spasm bombed for days on end in order to destroy Gatwick.

[Nomad]

quality tefal head

[Eja Cool8]

Aye, there are any number of these clowns around, I used to work beside one