Another Comedy Tax Blunder
Rufus Hound Company Uses Tax Minimising Celeb Accountants 

‘Comedian’ turned wannabe politician Rufus Hound embarrassed himself when he said “David Cameron wants your kids to die” while announcing his decision to run for the European Parliament last month. Moralising Hound summed up his policies as:

“We all pay our little bit of tax and our fair share, and for that we expect schools, hospitals, police, fire service and a little bit of defence.”

But does Rufus himself pay his ‘fair share’?

Bob Simpson, as Rufus is actually called, is the owner of a company called Dogface Limited, which has no discernible presence anywhere and has just one other director: his wife. As Guido revealed in yesterday’s Sun, for some reason Dogface’s registered address is exactly the same building as that of showbiz accountants, Blue Skies Partnerships. On its website Blue Skies promises clients “we ensure you always pay the legal minimum amount of tax” and even has a whole section devoted to “minimising your tax”. Is that the same as your ‘fair share’?

Bob did not dispute the story yesterday:

Always looking to pay the minimum amount possible, eh Bob?

Mehdi’s Corporate Paymaster Censors Critics

In a change from side-boob and upskirt shots, Mehdi Hasan is frothing about ‘corporate welfare’ (geddit) over at the Huffington Post. He’s attacking the media for being complicit with large companies and banks:

“They are aided by their friends, allies and outriders in the right-wing media echo chamber, who have never had to endure the indignity of turning to payday lenders or food banks in order to survive.”

Which is odd given that Mehdi is aiding his corporate paymasters by censoring comments about the tax status of the Huffington Post’s parent company directly below his rant. Guido has been trying to leave the following comment all day:

“AOL turned over £56,801,000 last year yet manage to pay only £9,000 in corporation tax. How so? Could it be because HuffPo is losing money or that its UK owner, AOL Limited, repatriates profits to escape paying its dues in the UK to the Luxembourg-registered AOL Europe Société à responsabilité limitée. If Mehdi cared about the millions in corporate profits being exported by multinational corporations he wouldn’t work for one of the worst exemplars”

Sadly that inconvenient truth does not fit Mehdi’s agenda.

IFS Demolish Balls Plan

Balls couldn’t resist a love-in with the Institute for Fiscal Studies back when they were criticising the government in 2012, crowing that:
“The IFS is right to cast doubt over the so-called ‘findings’ of the review of the 50p top rate published by the Chancellor. They say that it is uncertain that the cost of cutting the 50p rate is as low as Ministers claim and that it is too early to judge the true effect.”  

Well for some reason he doesn’t seem to want to listen now that they’ve demolished his 50p tax rate plan this afternoon. In a withering assessment, the IFS concludes:

“The best available estimate of what reversing the cut would raise is therefore about £100 million too… at the moment, the best evidence we have still suggests that raising the top rate of tax would raise little revenue and make, at best, a marginal contribution to reducing the budget deficit an incoming government would face after the next election.”

 What was that about always listening to the IFS?

Guardian Sells Autotrader Stake for $1 Billion
Moment of Tax Truth for Guardianistas

In 2011 this blog ran a Guy News investigation into the Guardian’s offshore tax dodge in the Caymans. We followed it up in 2012 and Guido personally asked Alan Rusbridger and GMG plc’s CEO to explain the continuing holding of assets offshore. No reply was forthcoming. In 2012 we checked to see if GMG was still using GMG Hazel Acquisition 1 Limited, the controversial tax-exempt corporation which it set-up in 2007.

Subsequently in 2008 The Guardian claimed GMG Hazel Acquisition 1 Limited, a GMG-owned company, would be transferred into their investment partner Apax’s offshore structures, normally when this happens there is a name change. The name is unchanged to this day, strongly suggesting the ownership was unchanged. At the very least Apax/Guardian will have saved themselves $5 the million in stamp duty which would otherwise be due to HMRC by doing the transaction offshore:

No pronouncement from Polly Toynbee as yet. Guido is consulting beancounters on further tax implications of the deal…

Further reading on the Guardian‘s tax hypocrisy:

Mo Runs from Osborne

After his double gold Olympic glory, Mo Farah said: “I don’t know anything but England. When I run for my country I’m proud.” Ed Miliband called him “a hero for our country”, the Prime Minister wanted to give him a knighthood. Boris did the Mo-Bot…

Awkward then that Mo has applied to become a tax exile in Portland, Oregon, US – to reduce his bill. And who can blame him. Similarly, marathon champ Paula Radcliffe – after Gordon Brown raised the top rate of tax – moved to Monaco. As Guido pointed out in the Sun yesterday, the usual suspects  condemn such behaviour by the rich but, when it comes to these Olympic heroes, are silent…

Osborne Promises Another £12 Billion Benefits Salami Slice

Talking the talk, Osborne has claimed “government is going to have to be permanently smaller and so is our welfare system”. Finally, if he is to be believed, the Tories will be “permanently cutting people’s taxes by permanently cutting spending”. He’s making the right noise at least, but when?

The Chancellor has pledged a further £12 billion of cuts to benefits from 2015 to 2017, yet the overall bill is £174.3 billion. Barely a dent. From the gloomy tones of the speech it’s not looking likely that tax cuts will come this side of an election either. This looks like playing politics rather than any genuine commitment to walking the walk.

Bah, L’Humbug!
Hollande’s 75% Tax Rate Approved by French Courts

Francois Hollande’s Christmas present to the French people is a 75% tax rate. The hike was ruled unconstitutional a year ago but the French courts have u-turned and now, despite huge protests from business leaders and the country’s star footballers going on strike, those earning over €1 million will pay a top income tax rate of 75% to their socialist government. Another nail in the coffin of the Hollande plan that Miliband endorsed. Expect a queue of Ferraris on the French-Swiss border tonight…

Wonk Movements: All Change at TPA

Big wonk movements last night, with Matt Sinclair leaving his position as chief executive of the Taxpayers’ Alliance to jump ship to Europe Economics. He is replaced by the TPA’s current political director, Jonathan Isaby who has gone from hack, to wonk, to boss in under five years. Research director John O’Connell is promoted to Director. Fact: Isaby owns every single Now That’s What I Call Music album ever released.

True Terrible Impact of Bedroom ‘Tax’ Revealed

Labour are forever telling us that the bedroom ‘tax’ is a vindictive and pernicious policy that will cause misery for thousands across the country. Well today the devastating consequences have come to light. Worcester News has the story of one […]

+ READ MORE +

The Un-Free, Anti-Enterprise Group

The “Free Enterprise Group” is made up Tory MPs who are usually relatively sensible and allegedly right-wing, so Guido cannot understand why they keep coming up with such bonkers ideas. First they wanted to tax the old even more, […]

+ READ MORE +

That Permanent Austerity in Full

The usual bedwetters are lining up this morning to proclaim that Cameron signalled never-ending austerity last night. They’re moaning about ideology etcetera.

Have a look at what Dave actually said:

“We have a plan – and we are carefully

[…]

+ READ MORE +

Green Ed’s Taxes are Officially Under Review

The Prime Minister’s official spokesperson has confirmed this morning that green subsidies on energy bills are now under review. Just yesterday Cameron said that those very same green subsidies were “necessary”A quick and welcome u-turn, even by Dave’s […]

+ READ MORE +



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Quote of the Day

Janan Ganesh on Labour’s soft left

“Ms Cooper does not believe the previous Labour government was wrong to run a fiscal deficit after 15 years of economic growth. Both she and Mr Burnham think families should be entitled to tax credits for a third child. These views are not mad. They are just a bit too left-wing for Britain. For any serious party, that amounts to the same thing. The soft left is more electable than the hard left but then Mars is more habitable than Neptune: neither planet will host human life anytime soon.”

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