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 paid.” Instead we got a partial view of what he decided to pay tax on. Ken also claims that an accountant has signed these figures off, yet provides no evidence for this unlike the other candidates.  He has still not published his company accounts and the clock is ticking

Guido’s been speaking to bean counters today who are slightly puzzled by what Ken has put out. One writes:

“a)      no book-keeper, let alone an accountant, has been near this – you never date down the left hand side – you run left to right;

b)      Corporation Tax is paid on profits, not dividends – massive f**k-up here – tells you all you need to know about the integrity of these accounts.”

The meta-data on the .PDF document shows that it was drawn up not by an accountant, but by Mark Watts- Ken’s old Climate Change Adviser at City Hall. He got one of the crony pay-offs in 2008. 

Apart from the 14.5% effective income tax rate – which Matthew Hancock points out is less than a City Hall cleaner pays – the main take-away from the part-publication is that by paying himself in dividends he is avoiding paying National Insurance, which employees have to pay. If you are employed you pay it at 12%. If you are self employed you pay it at 9%. If you are Ken, you don’t pay it at all. 

He cannot say he is paying his fair share when he is avoiding paying National Insurance, which is the tax that pays towards the NHS. The question for Ken is a simple one. Why are you paying yourself in dividends rather than salary? There is only one answer. To avoid tax.

Boris’ figures have the accountants signature on them and Paddick has put his actual returns, plus a few personal details, out. Why so dodgy Ken?




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

Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

Guidogram: Sign up

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

Facebook

Trump vs Corbyn: Who Said It? Trump vs Corbyn: Who Said It?
Hammond: No Deal and I’ll Make UK Tax Haven of Europe Hammond: No Deal and I’ll Make UK Tax Haven of Europe
Benn’s Brexit Committee Bunfight Benn’s Brexit Committee Bunfight
Prospective Labour Candidate is Dominatrix Prospective Labour Candidate is Dominatrix
Watch: Corbyn Not “Out of Control” Watch: Corbyn Not “Out of Control”
Real Brexit: Gove Sets The Standard Real Brexit: Gove Sets The Standard
Tristram: V&A Must Charge for Entry Tristram: V&A Must Charge for Entry
Stoke: Fierce Four-Way Fight Stoke: Fierce Four-Way Fight
Guido is Secure Guido is Secure
Latest: “Queen Backs Brexit” Row Still Rages on Twitter Latest: “Queen Backs Brexit” Row Still Rages on Twitter
Labour Lose Sunderland Labour Lose Sunderland
Sweariest MP Revealed Sweariest MP Revealed
WATCH: Tories Launch Nuclear Missile At Corbyn WATCH: Tories Launch Nuclear Missile At Corbyn
PICTURE: Le Pen in Trump Tower PICTURE: Le Pen in Trump Tower
Tory: Will You Come to My Own Portrait Unveiling? Tory: Will You Come to My Own Portrait Unveiling?
Al-Jazeera Defends Jackie Walker Al-Jazeera Defends Jackie Walker
Here Are 6 Outlets Who Rejected BuzzFeed Memo Here Are 6 Outlets Who Rejected BuzzFeed Memo
Millionaire Hammond Claimed £90 For Smashed Phone Millionaire Hammond Claimed £90 For Smashed Phone
WATCH: Max Mosley Punches Policeman WATCH: Max Mosley Punches Policeman