 |
| Where are off-planet companies taxable ? |
BHS – Following up The Guardian’s
21 Oct 2005 report of the £1.2B tax-free dividend paid from Arcadia to Lady
Tina Green in Monaco, enabled by a 7.5 year bank loan to the group, it would be
sensible for HMRC to confirm that Lady Green didn’t & doesn’t spend more
than 90
days a year in London – which would make her UK taxable; and to re-check
the terms of the loan, to see if it and the loan repayments should be re-classified as a personal loan
and so part of Sir Philip’s director’s salary – and taxed under PAYE. £600
million in tax would compensate for UK tax-payers paying the BHS pensions
deficit.
Noel Hodson, Oxford, 3 JUN 16
The cash will be coming from a seven and a half
year loan to Arcadia. "It is senior debt, not rinky-dinky funny money. It
is plain vanilla, not chocolate or raspberry," said the tycoon, who also
owns Bhs. "It is affordable and it is not over-aggressive. It leaves the
business with plenty of opportunities to grow.
No comments:
Post a Comment