Large firms......

[MadAmster]

..... requesting government handouts. I don't have a problem with it as it helps (not 100%, agreed) improve the chance they will still be around and still employing as many people once this Corona crisis has subsided.

However, there should be terms and conditions on such help. I'd like to see......

1. No dividend payout to shareholders until the entire sum has been paid back plus a 20% (level is up to discussion) levy to help fund the pay increases of those in "***** jobs".

2. No dividend payout to directors/managers until the entire sum has been paid back plus a 20% (level is up to discussion) levy to help fund the pay increases of those in "***** jobs".

3. No shares given to employees from the directors down until the entire sum has been paid back plus a 20% (level is up to discussion) levy.

4. No share buy back schemes to avoid taxation until the entire sum has been paid back plus a 20% (level is up to discussion) levy.

5. Paying the full amount of tax rather than utilising loopholes to avoid it, for ever.

6. Companies registered abroad must re-register in the UK and pay tax here. No return to the tax havens in the future either

7. Tax exile owners bring their affairs back to the UK and pay UK Tax on their income and remain UK taxpayers pemanently.


I would also warn the banks that they either start being more "sensible" in loans to companies at this time or they will get hit with a huge 1 off extra tax bill as payment to the rest of us for bailing them out in 2008.

[Geoff Parkstone]

No comment

[MadAmster]

The ***** are or the word vi tal (split to avoid the swear filter)

[ramAnag]

No comment

Why not? You’re the one best qualified to answer.

I know little about such things as will be recognised by the fact that my ‘share portfolio’ comprises one set of a small number of shares left to me by a kindly aunt some years ago. Of all the companies/industries to be almost terminally damaged by Coronavirus they are probably at the top. Care to guess?

On the other hand...just had a money making idea that can’t fail...face masks in club colours!!!

[Andy_Faber]

admirable list but it just won't happen

[Geoff Parkstone]

OK, let's just start like this. Covid is nobody's fault (except maybe the Chinese) :

People on PAYE - get a sensible support package;
Small businesses - ditto;
Self employed - ditto;
Other businesses - a mixture of grants, loans, and the furlough scheme;

YET

Big companies - the backbone of UK employment, the backbone of most people's pensions (both their own staff and all of our invested personal pensions or indeed other companies pension schemes) - nope, let's not give them anything for free Let's penalise them for struggling in these circumstances, let's undermine their share price by blocking dividends. In fact let's **** over the economy completely.

Now I have sympathy with linking help to the amount of UK tax paid, it makes sense and it's how the self empolyed scheme works to an extent. Virgin is a good example - let the aid be proportionate to the profits on which UK tax is paid

It's not like 2008 when the banks were at fault in causing the crash. Big companies are no more to blame for this virus than you or I. To penalise them in this way is outrageous. It's insanity and will ensure that the impact of COVID will last long into the mid 2020s or more.

I have already commented on the economic stupidity of huge pay increases for front line employees, even while recognising the need to recognise their inestimable contributions.

In a nutshell, why undermine the economic recovery post covid by penalising one of the worst hit groups within our community, on which recovery and a return to near full employment depends.

If you want to crack the global tax nut, do it another way, bring legislation in that is not connected with this issue. Mutual destruction isn't a great plan at this time

[Geoff Parkstone]

Why not? You’re the one best qualified to answer.

I know little about such things as will be recognised by the fact that my ‘share portfolio’ comprises one set of a small number of shares left to me by a kindly aunt some years ago. Of all the companies/industries to be almost terminally damaged by Coronavirus they are probably at the top. Care to guess?

Airlines? Dating website owners? Euro tunnel?

As for facemasks in club colours... there is a flaw in your great idea. Most masks I've seen are already in our shirt colour. Some in Manchester City. I'm not sure too many English teams play in green

[Trickytreesreds]

(cough)

Rolls Royce 1971

Much as I despise Branson at the moment.
Not helping Virgin in some form or another will have a massive knock on effect all the way down to RR and their suppilers.

[mistaram]

..... requesting government handouts. I don't have a problem with it as it helps (not 100%, agreed) improve the chance they will still be around and still employing as many people once this Corona crisis has subsided.

However, there should be terms and conditions on such help. I'd like to see......

1. No dividend payout to shareholders until the entire sum has been paid back plus a 20% (level is up to discussion) levy to help fund the pay increases of those in "***** jobs".

2. No dividend payout to directors/managers until the entire sum has been paid back plus a 20% (level is up to discussion) levy to help fund the pay increases of those in "***** jobs".

3. No shares given to employees from the directors down until the entire sum has been paid back plus a 20% (level is up to discussion) levy.

4. No share buy back schemes to avoid taxation until the entire sum has been paid back plus a 20% (level is up to discussion) levy.

5. Paying the full amount of tax rather than utilising loopholes to avoid it, for ever.

6. Companies registered abroad must re-register in the UK and pay tax here. No return to the tax havens in the future either

7. Tax exile owners bring their affairs back to the UK and pay UK Tax on their income and remain UK taxpayers pemanently.


I would also warn the banks that they either start being more "sensible" in loans to companies at this time or they will get hit with a huge 1 off extra tax bill as payment to the rest of us for bailing them out in 2008.

MA I agree with all that But it won't happen because none of the measures are or will be out in place Politicians are not going to bite the hand that feeds them especially when theve just given themselves a 8% rise and £10,000 just to work from home . They must have been under Corbyns money tree

[MadAmster]

So, you're OK with them making huge profits and paying virtually nowt in Tax?

You're OK with bonuses (banks) being paid in the same year that very bank got a half a billion fine for the Libor fraud or for fraud, known as wrong selling of policies, mortgages etc. and none of the individuals responsible going to court for it?

I'm not against people making a profit. It's just that those actually creating that profit should have more of it than they do. Profits and dividends and bonuses for the top few % are what it's about rather than any kind of reasonableness.

I'd feel differently about this IF those huge multinationals paid their full whack of taxes but they don't. Profits don't have to keep on rising each year. As long as it's a good profit that should be OK, even if it is a bit lower than last year. There ups and downs. The downs are, IMO, reacted to far too jerkily and the whole "market" goes into some kind of blind panic........

2016, Apple made, they said £17.6M profit on a turnover in excess of £1Bn. That's <1.76% profit margin...... maybe one of resident experts can tell us if that's a good % profit. As a layman on these things I'd think it a poor return.