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

Recently unresigned Sarah Champion on Corbyn:

“Jeremys [sic] position is no longer tenable if we’re to be effective”

Guidogram: Sign up

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

Facebook

LILY COLE FRONTS BBC “CEO SECRETS” SERIES AFTER RUNNING COMPANY INTO GROUND LILY COLE FRONTS BBC “CEO SECRETS” SERIES AFTER RUNNING COMPANY INTO GROUND
Guardian Media Group’s Losses Total £173 Million Guardian Media Group’s Losses Total £173 Million
MCGINN WHIPPED LABOUR MPS TO “KEEP UP THE PRESSURE ON JC” MCGINN WHIPPED LABOUR MPS TO “KEEP UP THE PRESSURE ON JC”
VICTORIA’S SECRET LINGERIE AND 5 STAR HOTELS: WELSH GOVT’S £7.5 MILLION CREDIT CARD SPEND VICTORIA’S SECRET LINGERIE AND 5 STAR HOTELS: WELSH GOVT’S £7.5 MILLION CREDIT CARD SPEND
OWEN SMITH HIRES TOP PFIZER LOBBYIST TO RUN CAMPAIGN OWEN SMITH HIRES TOP PFIZER LOBBYIST TO RUN CAMPAIGN
HAMMOND FIBS AND SAUDI SLAVERY SLIPPED OUT ON DUMPING DAY HAMMOND FIBS AND SAUDI SLAVERY SLIPPED OUT ON DUMPING DAY
MATTHEW ELLIOTT ON WHY LEAVE WON MATTHEW ELLIOTT ON WHY LEAVE WON
OSBORNE GIVEN “SH*T” ROOM WITH NO VIEW OSBORNE GIVEN “SH*T” ROOM WITH NO VIEW
5,000,000 SIGNATURES: FEW POLICY CHANGES 5,000,000 SIGNATURES: FEW POLICY CHANGES
CORBYNISTAS USED CODE TO HIDE CASH-FOR-VOTES PLOT CORBYNISTAS USED CODE TO HIDE CASH-FOR-VOTES PLOT
First Lady Michelle Obama Carpool Karaoke First Lady Michelle Obama Carpool Karaoke
PMQ’s Sketch PMQ’s Sketch
How to Reach Westminster Politicians How to Reach Westminster Politicians
OWEN SMITH’S 999 EMERGENCY OWEN SMITH’S 999 EMERGENCY
MELANIA BORROWS FROM MICHELLE MELANIA BORROWS FROM MICHELLE
MAY: I WOULD PRESS NUCLEAR BUTTON MAY: I WOULD PRESS NUCLEAR BUTTON
New Uber Rival Tries to Get Unions Onside New Uber Rival Tries to Get Unions Onside
SMITH’S £200 BILION “NEW DEAL” PLEDGE BUSTED BY MCDONNELL SMITH’S £200 BILION “NEW DEAL” PLEDGE BUSTED BY MCDONNELL
CONGRATULATIONS MR AND MRS UMUNNA CONGRATULATIONS MR AND MRS UMUNNA
UKIP SEEKING TO TAKE ADVANTAGE OF “OILY” SMITH UKIP SEEKING TO TAKE ADVANTAGE OF “OILY” SMITH