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Old 19-02-2011, 12:28   #151
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http://www.bbc.co.uk/news/business-12511912

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Barclays has revealed it paid 113m in corporation tax to the UK in 2009, 2.4% of its 4.6bn global annual profit.
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Old 19-02-2011, 12:31   #152
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What a load of silly populism from a Labour MP who name sounds suspiciously like that of an illegal immigrant or a second-rate rapper.
Barclays have just made some big losses. Under UK tax rules you can carry forward losses against future profits, which is what Barclays have done.
Ignorance of matters fiscal is alive and well in the Labour party.
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What part of "accumulated tax losses" do these people not understand? It works exactly the same as capital gains tax for individuals, where you can net past losses off against recent gains. I'm sure that Chuka Umunna on the Treasury Select Committee understands this perfectly well, but is relying on the financial illiteracy of most of Labour's supporters.
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"Chuka Umunna MP, a member of the Treasury Select Committee". How? The man is either stupid or deceitful. Either way he has no place on this Committee. Barclays, et al, should be held to account for some of their actions, but this is not one of them. How on earth can we expect the likes of Barclays to change when all they're faced with is morons like this. Where's the talent?
http://www.telegraph.co.uk/finance/n...x-pay-out.html
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Old 19-02-2011, 12:53   #153
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I'm with DD on this one... the guy clearly doesn't understand taxation laws, whereas I'm sure Barclays employs plenty of very clever people who know the rules inside out.

This guy has made himself look like an idiot.
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Old 19-02-2011, 13:33   #154
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Is the way this is being reported wrong? They talk about the global profit and the tax paid but surely they should be reporting the tax paid on UK earnings alone?
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Old 19-02-2011, 13:43   #155
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It is sensationalist / misleading reporting and even the Telegraph is guilty of it as the reader comments point out.
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Old 19-02-2011, 14:27   #156
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Originally Posted by Slinwagh View Post
Is the way this is being reported wrong? They talk about the global profit and the tax paid but surely they should be reporting the tax paid on UK earnings alone?
Correct - unless the law has changed overnight and companies should pay tax in the UK on earnings they've made overseas... that might help with our current financial predicament.
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