Tories Advise Top Donors How to Avoid Tax

Dave might think that Jimmy Carr is morally repugnant but that has not stopped the Tories from advising their wealthy donors on how to avoid tax. The Conservative Foundation, an organisation run by an array of Tory grandees and city types, is offering donors the chance to dodge inheritance tax through a scheme in which they leave a “legacy” to the Tory party. The scheme promises to “reduce or even remove completely” the inheritance tax liability of rich Conservative backers, while its website explains how to take advantage of rules allowing tax-free donations to political parties. Although the scheme appears to have been set up on the quiet it is startlingly open about its intentions:

Cameron was always going to be a hostage to fortune over tax avoidance, now he faces the inevitable dilemma of having to deal with questions about his party’s wealthy financiers. He’s hardly making it easy for himself.

Osborne Fuel-Turn Catches Greening By Surprise


Justine Greening to the Sunday Telegraph:

“The taxes that we get in fund the public services that we all rely on. Surely it’s better to challenge the petrol retailers to pass on reductions to motorists and actually I think that’s probably the most important thing to do.”

Treasury Twitter feed on Tuesday:

“Chancellor announces that August fuel duty rise delayed until January 2013 to help with cost of living.”

Sure that went down well in the Department of Transport. Given that Balls was on the radio calling for the u-turn this morning, Guido reckons he was tipped that it was coming…

Carr in Reverse: Jimmy Says He’s Done With Dodging

Guido suspects that HMRC are going to litigate over this scheme, probably successfully. Carr may end up paying all the taxman demands plus penalties…

Cameron Goes Back to Basics

Jimmy Carr is immoral apparently. It’s open season…

Topical Commons Lunch

You’ll want to let those cool…

Via @michaelsavage of the Times.

Just in Time for Tax Freedom Day

Tomorrow is Tax Freedom Day – the first day of the calendar year that you stop working for the state and start working for yourself.  One of the better received parts of the budget was the pledge of tax transparency – soon tax statements will come with a break down of how our money is spent.

If you can’t wait until then to see how your money is squandered, the Treasury have made a nifty app.

You can now keep a handy reminder in your pocket of how much of your hard earned cash is given to people who won’t work…

Small is Beautiful

Guido really likes this video from the wonks at the Centre for Policy Studies, it animates a very clear message, around the world lower taxes lead to higher growth rates.

The data is pretty clearly presented, are you watching Mr Osborne?

Guardian Attacks the Tax Status of the Guardian

While mentioning his race-baiting, tax avoidance and warning that if he wins he will be on “probation”, the Guardian has held its snooty nose and endorsed Ken. In an attempt to give some lukewarm covering fire today they claim that Boris has been using campaign office space donated by Lycamobile who have not paid corporation tax – a brave line of attack given Ken’s voodoo accounting.  Lycamobile did not pay tax because they haven’t made any profits yet. HRMC don’t tax companies on their losses. Which is lucky for the Guardian…

Guardian News & Media, which publishes the Guardian, doesn’t pay tax because it makes a loss every year. GNM is subsidised by its investment funds and its joint-ownership of AutoTrader. The joint-ownership is with, of course, a private equity firm. Some may consider the Guardian, on this basis, to be appalling hypocrites…

Labour Star Lord Winston Slams Party For Choosing Ken

Labour’s second most famous backer Lord Winston has followed the lead of Alan Sugar and slammed Ken. Talking on the Daily Politics he questioned how the party had managed to select Livingstone. Just a week ago Lord Winston was the […]

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WATCH: Ken’s Tax Downfall

As Parliament returns after an extended Easter break, here’s a handy catch up guide to what you have missed in the race to become Mayor of London…[…]

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Neutral Audience Savages Ken on Tax

An over overenthusiastic ‘elf and safety advocate ensured that Guido was ejected from last night’s Evening Standard debate, but thankfully they have sent over the video so you won’t miss a balanced […]

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Ken is the 14.5%
Former Climate Change Adviser Knocked Up Partial Figures

Last night Ken promised on Newsnight to publish his accounts. He further said this morning “I will set out income to my company over the last four years, how much my wife and I received and how much tax was […]

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Quote of the Day

David Cameron tells MPs after voting:

“Wouldn’t miss this for the world. Secret ballots very important. Remember the Chartists.”

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