Well apparently every little doesn't help
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TESCO
A whip round for some descent calculators may be in order.
Think this is just an extension of the old news on Amazon, Google and Starbucks tax minimisation schemes / Celebrity tax avoidance schemes. It's understandable that Companies (and most people) want to minimise how much tax they pay but it takes years and years of experience to actually step over the line and cock up big time. The bigger the Company the greedier they are.
Think this is just an extension of the old news on Amazon, Google and Starbucks tax minimisation schemes / Celebrity tax avoidance schemes. It's understandable that Companies (and most people) want to minimise how much tax they pay but it takes years and years of experience to actually step over the line and cock up big time. The bigger the Company the greedier they are.
No I don't think it is, News today said they were being investigated by the Serious Fraud Squad (is there fraud that isn't serious = oh yes of course there is Fraud by MP's with their expense accounts). It is something that the Police have been investigating for a few weeks but have now brought in the SFS to deal with the offences believed to have been committed.
It appears that it is not tax avoidance (though they may do that as well) but this is about them declaring more than £250million more profit than they had actually made, obviously that affects share prices so people could be paying more for their shares than they would if profits were not as high.
The report said a number of Top exec's at Tesco have already been suspended.
It appears that it is not tax avoidance (though they may do that as well) but this is about them declaring more than £250million more profit than they had actually made, obviously that affects share prices so people could be paying more for their shares than they would if profits were not as high.
The report said a number of Top exec's at Tesco have already been suspended.
The police were not investigating prior to the announcement of the Serious Fraud Squad, the Financial Conduct Authority were. The FCA is the city regulator.
The senior executives were suspended as soon as the irregularities were discovered and it has nothing to do with tax avoidance. It's to do with Tesco bringing forward rebates from suppliers and therefore overstating their profits, which could mean that they have actually overpaid tax.
The senior executives were suspended as soon as the irregularities were discovered and it has nothing to do with tax avoidance. It's to do with Tesco bringing forward rebates from suppliers and therefore overstating their profits, which could mean that they have actually overpaid tax.
Sexpert
I have to admit that my immediate reaction when a large company hits trouble it to sneer. It doesn't last long though when I think that profits from companies like Tesco's go into pension schemes and the taxes they pay help keep the infrastructure of the nation going. So bad news all round really. Whether it is fraud or problem in the structure of the company maybe critical. In a way fraud would be better news for the share holders as the guilty can be weeded out. If the company structure is at fault it may take a lot of hard work to fix.
I was married for some 14 years before a lady in the Pay Office of a company I started working for noticed that I was paying "single person tax" and had apparently been doing so for the 14 years as the Army Pay Office had never informed the tax office of my status change, the Tax"man" repaid me for 3 years of the overpayment but said they didn't hold records for any period before the 3 years. (funny they seem to find them when you owe them money)
The payments for the 3 years was repaid to me very quickly.
The payments for the 3 years was repaid to me very quickly.
The onus is on the Taxpyer, not the employer, to inform HMRC of any changes that may effect their tax code.
It's only possible to claim overpaid tax for any of the 4 preceding tax years to the current one. That's statutory tax law, nothing to do with them not having your records.
It's amazing how you always manage to misinterpret the 'facts'!
It's only possible to claim overpaid tax for any of the 4 preceding tax years to the current one. That's statutory tax law, nothing to do with them not having your records.
It's amazing how you always manage to misinterpret the 'facts'!
