Hodge Blames Gordon For Vodafone Tax Dodge

Margaret Hodge isn’t wasting any opportunity to bleat about the £84 billion Vodafone/Verizon deal today:

“We must demand reassurance that HMRC has thoroughly examined this proposition to ensure British taxpayers get their rightful share of this massive profit. If there’s a flaw in legislation it has to be urgently addressed by Treasury ministers. I don’t understand how anyone can justify such a massive windfall without handing a fair share to the Exchequer. If this is an instance in which Vodafone has simply played the system then clearly they themselves have an obligation to UK consumers, on whom they depend for their business, to do the right thing.”

Flaws in legislation, you say? Well the two companies are exploiting the so-called “Substantial Shareholder Exemption” loophole to legally dodge the tax, the very same loophole used by Guardian Media Group when it sold Autotrader. SSE is a corporation tax exemption for businesses disposing of a substantial shareholding in a part of their business. The idea is that businesses should be able to restructure their businesses without having to worry about chargeable gains implications. And who was it introduced by? One Gordon Brown…

UPDATE: That “flawed tax law” Hodge is complaining about? She voted for it.




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

Quote of the Day

Sky’s Faisal Islam on the mood in Parliament at the moment:

“It’s a totally febrile atmosphere here. It’s kind of like Game of Thrones meets House of Cards – and if you chuck in the Labour Party – Laurel and Hardy too.”

Guidogram: Sign up

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

Facebook

TRACKING #TORYLEADERSHIP CAMPAIGN 2016 TRACKING #TORYLEADERSHIP CAMPAIGN 2016
SEUMAS’ BAD IDEA SEUMAS’ BAD IDEA
FARAGE VICTORY SPEECH TO EUROPEAN PARLIAMENT FARAGE VICTORY SPEECH TO EUROPEAN PARLIAMENT
LABOUR COUP DAY 3 LABOUR COUP DAY 3
INSIDE THE PLP: “THE WORST SPEECH I HAVE EVER HEARD IN MY LIFE” INSIDE THE PLP: “THE WORST SPEECH I HAVE EVER HEARD IN MY LIFE”
“SAVE JEZ” SUPPORTERS DEMAND “100 NEW MPS” “SAVE JEZ” SUPPORTERS DEMAND “100 NEW MPS”
CAMERON ON LABOUR: “AND I THOUGHT I WAS HAVING A BAD DAY” CAMERON ON LABOUR: “AND I THOUGHT I WAS HAVING A BAD DAY”
JUNXIT! JUNCKER FACING CALLS TO RESIGN JUNXIT! JUNCKER FACING CALLS TO RESIGN
Runners & Riders Runners & Riders
Social Media’s Filter Bubble Driving Political Anger Social Media’s Filter Bubble Driving Political Anger
4 a.m. Tom Watson 4 a.m. Tom Watson
Britain Votes For Brexit Britain Votes For Brexit
BBC Declares Brexit Winner BBC Declares Brexit Winner
Guido’s Referendum Best Bits Guido’s Referendum Best Bits
Bob Geldof Boat Passenger Votes Leave Bob Geldof Boat Passenger Votes Leave
Which Brexiteer Are You? Which Brexiteer Are You?
Referendum Day CCHQ Leak Referendum Day CCHQ Leak
Liz Hurley Backs Brexit Liz Hurley Backs Brexit
WHICH REMAINER ARE YOU? WHICH REMAINER ARE YOU?