Labour Lessons in Reducing Your Tax Bill to Zero

KenCo “paid every pound of tax he is required to by law”, said Ed. Nothing wrong with the Labour leader’s own inheritance tax avoidance either. Nor the £210,000 tax dodge by the owners of the former Labour HQ. Not to mention the John Mills donation given to the party in shares to avoid a bill from the Exchequer. Or those clever little legacy schemes that help donors reduce their own inheritance tax bills. Now another perfectly legal means of avoiding tax: Labour has reduced its corporation tax bill from £561,000 to zero by offsetting expenses and previous tax losses. Despite a £2.8 million surplus. One for Margaret Hodge to investigate with her usual vigour…


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