Hodge the Dodge: Named and Shamed

hodgeTax dodgers need to be “named and shamed” by HMRC says the Public Accounts Committee chaired by Margaret Hodge. “We’ve got to simplify our tax system and I think naming and shaming not just of the sort-of Jimmy Carrs, but of these providers, these whizz kids, so that we know who they are, is powerful“. Her Committee reports that there is a  “game of cat and mouse and HMRC is losing”.

Well some fat cats put their shareholdings in family trusts to avoid inheritance taxes. Fat cats like Margaret Hodge…

The company share register for Stemcor shows that Hodge holds several million pounds worth of shareholdings in trusts, including for members of her family. Her family’s firm Stemcor confirmed that she has “shares held in trust or in her children’s names”. As Polly Toynbee helpfully explained, this is a clever way of minimising future inheritance tax liability:

“The big sell is trusts, special ones devised for this company’s clients, guaranteed to protect almost all your wealth from inheritance tax. They are right, it can be done easily. Put all moveables and all cash and investments into a discretionary trust, and it passes to your heirs without tax as soon as you die, not even waiting for probate. It counts as a gift so the beneficiaries need pay no tax either.”

Guido has challenged Hodge repeatedly over the last few months to explain the purpose of placing her Stemcor shareholdings in a trust other than to reduce the future inheritance tax liability of her relatives. She has yet to reply – what a shame…

See also: Hodge the Dodge Hypocrisy in Full



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Ken Clarke tells the Ben Fellows trial:

“The idea that I would go strolling off in order to grope a man in an office is highly unlikely.”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Who Will Be UKIP’s Mayoral Candidate? Who Will Be UKIP’s Mayoral Candidate?
Meanwhile, in Venezuela… Meanwhile, in Venezuela…
TWITTER EMPLOYEES JUMP FROM SINKING SHIP TWITTER EMPLOYEES JUMP FROM SINKING SHIP
Times Trolls Burnham Times Trolls Burnham
CHAMPAGNE SOCIALISTS BACK CORBYN CHAMPAGNE SOCIALISTS BACK CORBYN
SINN FEIN SHOULD “TAKE INSPIRATION” FROM ARMED UPRISING SINN FEIN SHOULD “TAKE INSPIRATION” FROM ARMED UPRISING

ALL CHANGE AT GREEN PARTY HQ ALL CHANGE AT GREEN PARTY HQ
I Can’t Believe He’s Not Tory! I Can’t Believe He’s Not Tory!
UBER DESTROYING RACIST TAXI INDUSTRY UBER DESTROYING RACIST TAXI INDUSTRY
Could Labour Fall Apart Under Corbyn? Could Labour Fall Apart Under Corbyn?
Hilarious Prankster Hilarious Prankster
GREENPEACE LIVID GREENPEACE LIVID
Did Labour Leadership Candidates Smoke Dope? Did Labour Leadership Candidates Smoke Dope?
Another Andy Flip Flop Another Andy Flip Flop
Clegg Whores Himself Out Clegg Whores Himself Out
RETURN OF THE FRACKERS, CUADRILLA TO APPEAL RETURN OF THE FRACKERS, CUADRILLA TO APPEAL
FLASHBACK: TORY WHIP ON SCANDAL INVOLVING “SMALL BOYS” FLASHBACK: TORY WHIP ON SCANDAL INVOLVING “SMALL BOYS”
“Owen Jones is the 1%” “Owen Jones is the 1%”
Jedward Told to “F**k Off” By Indy Staff Jedward Told to “F**k Off” By Indy Staff
CLIMATE LOBBY DRAFT ARNIE CLIMATE LOBBY DRAFT ARNIE
MOD FORCED TO FIGHT RUSSIAN AGGRESSION… WITH TWEETDECK MOD FORCED TO FIGHT RUSSIAN AGGRESSION… WITH TWEETDECK
Mental Marxists: Tories Will Gas the Poor Mental Marxists: Tories Will Gas the Poor
MONEYBAGS BURNHAM TRAILS DESPITE SIX FIGURE FUNDING BONANZA MONEYBAGS BURNHAM TRAILS DESPITE SIX FIGURE FUNDING BONANZA
ROLL CALL OF LABOUR ‘MORONS’ ROLL CALL OF LABOUR ‘MORONS’
YOUGOV: CORBYN 17% AHEAD FIRST PREFS YOUGOV: CORBYN 17% AHEAD FIRST PREFS
BBC In Shocking Ice Revelation BBC In Shocking Ice Revelation
BBC Avoids Questioning Janner BBC Avoids Questioning Janner
TORY MP: SNP DON’T KNOW THEIR RS FROM THEIR ELBOW TORY MP: SNP DON’T KNOW THEIR RS FROM THEIR ELBOW
Flower Market Booms as Online Adulterers Exposed Flower Market Booms as Online Adulterers Exposed