- Eoin and corporation tax paid by big companies
Eoin Clarke is back with one of his unsourced graphs: The 10 companies above [Shell, BP, HSBC, BHP Billiton, AstraZeneca, GSK, Barclays, Vodafone, BAT, BG Group] made a combined profit of £100 billion last year. During the same period the UK econom…
Published - 2 days ago, 19 May 12, 11:22am
- KPMG Big Blue Kick
Today, across the country, teams from KPMG attempted to break the world record for a simultaneous taekwondo display. Called "The Big Blue Kick", the firm was raising money for Barnado's. I arrived about 20 minutes before it was due to start. The Lond…
Published - 2 days ago, 18 May 12, 9:43pm
- A simple consolidation
This blog post aims to show a simple, but plausible, consolidation. A consolidation is where a group of companies presents its overall results as if they were a single company. So, imagine the following situation: P has a single subsidiary S. P is lo…
Published - 3 days ago, 17 May 12, 10:36pm
- The ICAEW annual review and AGM 2011
So, the ICAEW has published its annual review and financial statements for 2011. And, in good time-honoured tradition, that means it's time to take the piss out of them. WIthout further ado, here are a couple of things that most certainly do not give…
Published - 7 days ago, 13 May 12, 9:30pm
- Really, Auntie?
Another day, another tax avoidance story: In the case of GSK, the UK-headquartered firm set up a new company in the tiny European tax haven of Luxembourg in 2009. In 2010, the new subsidiary lent £6.34bn to a GSK company in the UK. In return, the UK…
Published - 10 days ago, 11 May 12, 9:15am
- Dual standards at Tax Research UK
After a chartered accountant gets booted out of membership for stealing from his employer, Ritchie goes on a rant: But let’s also be clear, chartered accountants have worked in tax havens for decades and as all those places are now beginning to adm…
Published - 10 days ago, 10 May 12, 10:14pm
- A very strange idea indeed
Via Ritchie, we find this: The government gives up to £40 billion per year in tax [relief] for ISAs, pension contributions, venture capital and property investment, encouraging saving and investments. Yet, there is nothing attached to these subsidie…
Published - 10 days ago, 10 May 12, 9:35pm
- Ritchie on the teaching of accountancy
Ian Fraser, a financial journalist, has been interviewing Ritchie: Richard Murphy believes that the way in which accountancy and economics are currently taught is fundamentally flawed since it is based on a false premise—that markets are perfect an…
Published - 10 days ago, 10 May 12, 9:15pm
- Slapped wrists for Baker Tilly
This is quite interesting, from the AIU report on Baker Tilly: In 2010 the firm permitted an audit partner to join an audit client as Finance Director within two years of his involvement in the audit ceasing and did not resign from the audit as requi…
Published - 11 days ago, 10 May 12, 8:40am
- Ungrateful twat of the day
On Twitter: Steven Baxter (stebax): They never show the bit in Secret Millionaire where the benevolent givers write their donations off against tax One can only hope this is a failed attempt at irony. Posted from WordPress for Android. Post may be am…
Published - 11 days ago, 10 May 12, 8:15am
