Don’t reward HMRC’s massive failure

first_img Show Comments ▼ THERE is nothing worse than rewards for failure – somebody should have made that clear to Her Majesty’s Revenue and Customs (HMRC), the UK’s woefully underperforming tax body. Rather than displaying some much-needed humility after disastrously miscalculating the pay-as-you-earn (PAYE) income taxes of millions of people, and failing in many other ways over the years, the organisation is now lobbying for a gigantic power grab which could entirely redefine the relationship between the state, employees and their employers.If you think I’m exaggerating, take a look at HMRC’s proposals, outlined in a discussion document. At present, PAYE income taxes are deducted by employers from their employees’ wages on a monthly basis. Under the most extreme of the proposals, companies would start handing over their entire salaries to the government, in the shape of a “central calculator” run by HMRC. The taxes would then be deducted by HMRC and the remaining amount would be paid by the taxman to employees. Incredibly, HMRC would suddenly become the largest payroll organisation in the world – it, rather than employers, would pay wages. This would be a nightmare for many reasons. The set-up costs would be massive, with the need to hire thousands of consultants, developers and others; these sorts of IT projects are notoriously expensive, invariably go over budget and end up not working properly at all. Once set up, massive numbers of errors would lead to money being paid over by employers but not reaching employees on the due day. The track record of large IT projects shows that this is a certainty. Imagine if 1m people suddenly didn’t receive their pay at the end of the month? The authorities would have to hire tens of thousands of staff – jobs currently undertaken by payroll or HR departments in private firms – merely to deal with queries. While the coalition is espousing decentralisation and localism, centralising payroll under one government institution would be an absurd move in the opposite direction, a 1970s-style nationalisation of a system that must remain private and decentralised. And what about privacy? Will everyone’s salary and taxation level be available online to view, given that all of the data would suddenly be in one place? Hackers would have a field day. A related HMRC proposal would be to start introducing real-time information on pay so that tax is much more likely to be deducted correctly. This is – in theory – a good idea and would make it easier to reform the welfare system along the radical lines envisaged by Iain Duncan Smith. But there could be huge costs to employers, who would have to invest heavily in staff and computer systems. The real danger, however, is that HMRC is also thinking of forcing firms to hand over extra information to the authorities as part of this shift to real-time data. This is unacceptable for cost and privacy reasons. The Institute of Directors has highlighted some of the issues. Is pay frequency really needed? How can employers be expected to know about all third-party payments, in real time? Does the fact that some pay is for holidays matter for tax purposes? Finally, there is a suggestion that hours worked should be recorded – this would be an odiously authoritarian development. It is almost as if officials are seeking to kill off corporate Britain and to impose Soviet-style controls on taxpayers. The coalition government should tell HMRC where to go. [email protected] Share Tags: NULL KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comcenter_img whatsapp Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo Thursday 16 September 2010 9:11 pm Don’t reward HMRC’s massive failure whatsapplast_img read more

Bumper pay for new HP boss

first_img whatsapp Bumper pay for new HP boss Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap New HP boss Leo Apotheker could earn as much as $50m (£32m) in his first year at the firm. Apotheker, who joined the computer manufacturer from SAP last week, will receive a basic pay package of $1.2m, a bonus of up to $6m and a lucrative share package. However, the market reacted badly to the appointment, with investors worried the Silicon Valley outsider lacks the experience to steer the sprawling company. Apotheker, 57, spent seven months as CEO of German software giant SAP before resigning abruptly amid customer complaints over software support fee increases. Share Sunday 3 October 2010 10:11 pm whatsapp KCS-content Tags: NULLlast_img read more

Facebook movie top for second week

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ Facebook movie top for second week Facebook film The Social Network captured the top spot at US box offices for the second straight weekend in a lacklustre frame that saw ticket sales for all films drop about 15 per cent from last year.The Social Network took in $15.5m (£9.7m) with its tale of the website’s founding, which has thrilled both critics and audiences and has Hollywood buzzing with awards talk for the David Fincher-directed movie.The Columbia Pictures release played in just under 2,800 locations for a per-theatre average of around $5,600. Ticket sales were down just about 30 per cent, a small drop by Hollywood standards from last week’s final haul of $22.4m.In two weeks in theatres, Social Network has taken in $46.1m, which Columbia said covers its production cost, putting the film on a solid path to profitability. Sunday 10 October 2010 11:03 pmcenter_img whatsapp Share KCS-content Tags: NULLlast_img read more

Overhaul for Crest Nicholson

first_img TROUBLED housebuilder Crest Nicholson faces another financial restructuring as new majority shareholder Varde examines the company’s finances, people close to the business said yesterday. US-based Varde is working with advisers Lazard and Bingham McCutchen on the options for Crest, which became 90 per cent owned by its lenders following a £648m debt for equity swap in January 2009. Varde bought 30 per cent of Crest’s equity and around a quarter of its debt in September for an undisclosed sum, when Lloyds Banking Group sold its exposure to the company. Varde has also acquired a small stake from Royal Bank of Scotland. Crest still has around £350m of senior debt and £150m of payment in kind notes, which carry an interest margin of 250 basis points. Varde, which specialises in distressed real estate assets, is understood to be working with advisers to improve the standing of the debt. Crest made a loss of £50.7m in the ten months to October 2009, the most recent figures available, though the non-listed firm has insisted it is performing strongly this year. The company, like many property firms, was hit badly by the slump in construction in the wake of the recession. Crest was also targeted by the investment vehicle owned by Pizza Express founder Hugh Osmond, but rejected a £350m takeover offer in July. A spokesperson for Crest Nicholson declined to comment yesterday. Rick Noel, a partner at Varde, told City A.M. by e-mail: “We have spoke to Crest Nicholson and other debt holders about many things,” but could not confirm a restructuring was in the works. Share Wednesday 13 October 2010 7:54 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Overhaul for Crest Nicholson center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports Dropmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comFamilyMindedThe Most Common Astrology Questions People AskFamilyMindedOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressStadium TalkBest Basketball Player Ever From Every StateStadium TalkForbes14 Richest Black Billionaires RankedForbes Show Comments ▼ KCS-content whatsapplast_img read more

Private equity firms court partners for Yahoo bid

first_img whatsapp Tags: NULL Share whatsapp Thursday 14 October 2010 2:20 am Private equity firms court partners for Yahoo bid Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Several private equity firms have approached Internet and media companies including News Corp and AOL to gauge their interest in buying out Yahoo, a source with knowledge of the approaches said.The news comes as Yahoo, the No.2 search engine in the United States behind Google Inc , struggles to revive its revenue growth under the management of Chief Executive Carol Bartz, and to rebuild its buzz among consumers amid competition from social networking sites such as Facebook.A potential deal would be contingent on Yahoo selling its prized Asian assets, including a 40 percent stake in China’s Alibaba Group and 34.5 per cent of Yahoo Japan, the source told Reuters on Wednesday on condition of anonymity because discussions were not public.Talks with News Corp and AOL began about two weeks ago and intensified in recent days, but Yahoo had not yet been approached as talks were still in their early stages, the source said.Yahoo shares, which finished Wednesday up nearly 6 percent, gained another 9.5 per cent to $16.71 in extended trading. Shares in Alibaba.com and Yahoo Japan rose in Asia trading.Speculation of private equity interest in Yahoo, which is also struggling to stem an exodus of senior executives to rivals, has surfaced sporadically in past months.Silver Lake Partners was among the firms in very preliminary, recent discussions about acquisition scenarios, a second source with knowledge of the matter said.Blackstone had also been pitched the idea but was not currently working on a Yahoo deal, a separate source said.News Corp, AOL, and Yahoo declined comment. John Dunne Show Comments ▼last_img read more

Autonomy bounces back with robust set of results

first_img whatsapp Share Autonomy bounces back with robust set of results AUTONOMY staged a partial recovery yesterday after its disastrous profit warning earlier this month – which sent its shares falling 17 per cent – an update it now describes as “conservative”.The software giant, which enables searches of information including emails, phone conversations, documents and video, posted third quarter pre-tax profit of $86.3m (£55m), a year-on-year hike of 34 per cent.It also reported a 10 per cent rise in revenue to $211m, which comes in at the top of its own guidance.Two weeks ago it warned its 2011 revenues could be as much as three per cent lower than estimates, sending its shares into free-fall.But yesterday chief executive Mike Lynch said: “Given this update it may seem very conservative to have previously changed our outlook for the fourth quarter, but we felt it was safer. We are confident in maintaining our view of the outlook for demand and expect to continue to deliver good earnings per share growth in 2011, with upside to current market consensus.”Analysts reacted warily to the update yesterday, with Evolution’s Roger Phillips saying the announcement “makes little sense”. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img whatsapp Tuesday 19 October 2010 7:53 pm Show Comments ▼ More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULLlast_img read more

BOBSLEIGH FANATIC TO INJECT CITY WITH SHOT OF ADRENALINE

first_img YEARNING for an unusual extra-curricular hobby to brighten up your working week? Addicted to adrenaline? The Capitalist might have chanced upon just the thing for more adventurous City types.Ian Barbour is best known for his position as director of financial printing group Millnet, where he runs the financial document services operations. Yet he’s just been nominated for a new and rather different role – as a board member of the British Bobsleigh Association (BBA).Barbour, you see, is a keen enthusiast of all the various perilous methods man has devised to throw himself down an icy track – from luge (feet-first, one-man bobsleighs) to skeleton (the same, but going headfirst) and regular two- or four-man bobsleighs. If his nomination to the board is approved at the BBA’s next general meeting, he’ll be tasked with encouraging membership of the association, and what better place to start than the City?There’s already a small and growing base of bobsleigh devotees in the Square Mile – this column has previously featured the escapades of the likes of Bird & Bird’s Alistair Crellin and Richard Pavry at Jupiter – and Barbour would like there to be a lot more.MIND OVER MATTERTo Sotheby’s on New Bond Street on Monday evening for a private dinner and auction hosted by Krug champagne, where some of the sharpest minds in the business, political, art and entertainment worlds were auctioned off for charity.Those “up for sale” included Glastonbury festival founder Michael Eavis (who fetched £5,000); PR and advertising doyen Lord Tim Bell (£6,000); designer Anya Hindmarch, and departing Marks and Spencer boss Sir Stuart Rose (£7,000 apiece); chef Marco Pierre White (£8,000); and Lord Mandelson, actor Kevin Spacey and Pink Floyd drummer Nick Mason (all for £9,000).Among the moneyed guests attending the dinner was one David Ross, the flamboyant co-founder of Carphone Warehouse, who shelled out his cash to pick the brains of both Mason and Mandelson. After Ross’ high-profile resignation from Carphone a few years ago – when he admitted using his shareholdings as security on hefty personal loans without notifying the board – perhaps he’s looking for some snippets of sage advice from Mandy, the “comeback king” of politics?MORNING GLORYGreg Dyke, former BBC director-general and chair of the British Film Council, was at the Hospital Club last night for a Penfolds Vintage Years event designed to inspire budding entrepreneurs.Dyke picked as his “vintage year” 1991 – the year he became chief executive of London Weekend Television, which he described as “full of intrigue, risk, drama [and] great comradeship”, and during which he tripled the share price to £3.But he was equally happy to chat afterwards about the trickier years of his career – and how they relate to the problems encountered at the moment by ITV’s flailing revamped Daybreak show.“When I first joined TV-am back in the Eighties, it had no money, no viewers, the chief executive had resigned and most of the presenters had as well,” Dyke said.“Daybreak is emphatically not in that position – and they should be grateful they’re not there. What I’ve learnt is that there comes a moment when you hit rock bottom and it stops – and then it’s crunch time, that’s when they’ve got to grasp the bull by the horns.?There’s no secret to it… it’s just hard graft.”Sage advice indeed for much-hyped presenters Christine Bleakley (right) and Adrian Chiles, who this week were hit by the latest drop in their viewing figures to just 530,000.PUB CRAWLA handy guide for those who’ve made it something of a life mission to discover the finest drinking holes the Square Mile has to offer: an enterprising chap, John Coates, has put together an alternative Tube map-style diagram of all the pubs in the area.According to the map, available online at JJM Designs, there are no less than 124 boozers in the Square Mile – from the taverns of Fleet Street up to the Butcher’s Hook and Cleaver and the Rising Sun towards the Barbican, over to the George and the cosy nooks of Liverpool Street, to the old-school charmers of the Bank and Monument area, including the Ship and the Lamb Taverns.Happy crawling!COMIC TIMINGPing! In comes an email courtesy of Julia Streets, founder of the eponymous financial services marketing and communications agency, to flag up an event in aid of Children in Crisis on 16 November.The event itself is a one-off date of working mother, columnist and author Mrs Moneypenny’s sell-out Edinburgh Fringe show, but Streets herself, I note, is also performing as a stand-up comedienne.Digging deeper, it appears Streets, adviser to the likes of Chi-X and Instinet – is something of an established name in the comedy world, having also performed at the Fringe in the past in Edinburgh and Henley on Thames. Her show, Streets in the City, is an observational take on corporate life – though she insists no clients “have been harmed in the making of the show”. The Capitalist bets they’ll be watching nervously, in any case. BOBSLEIGH FANATIC TO INJECT CITY WITH SHOT OF ADRENALINE More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoverySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp whatsapp Tuesday 2 November 2010 9:33 pmcenter_img Share KCS-content Show Comments ▼ Tags: NULLlast_img read more

Cadbury may be next target for protesters

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Tags: NULL KCS-content Sunday 5 December 2010 11:36 pm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com center_img whatsapp CADBURY could be the next firm to be hit by organised groups of protesters after it relocated part of its operations to Switzerland for tax reasons.The move comes as Topshop boss Sir Philip Green was left counting the cost of closing his flagship Oxford Street store on Saturday afternoon after a protest over his tax affairs.A group called UK Uncut organised demonstrations at Arcadia outlets – including Burton, BhS and Topshop – and Vodafone stores. Green has come in for criticism after saving an estimated £300m in tax by paying his wife, a resident of Monaco, a £1.2bn dividend. Vodafone was targeted after settling a long-running tax dispute with HMRC for £1.25bn, despite allegations it could be liable for more than £6bn.UK Uncut organisers told City A.M. they may now turn their attentions towards Cadbury after its US owner Kraft said it would redomicile parts of the business to Zurich, in a move that will cost the UK an estimated £60m in lost taxes.Kraft says parts of Cadbury will still be registered in the UK but that the ownership of most of the firm would move into line with Kraft’s other European operations in Switzerland. A spokesman said: “Since 2006 we have been implementing our European model involving a holding company based in Zurich. We are integrating Cadbury into this model. This involves the transfer of certain roles to Switzerland, though the majority of UK-based roles will remain in the UK.”A UK Uncut spokesman said: “There is a huge amount of public anger. People are furious that they are paying for cuts while corporations are being allowed to avoid paying millions in tax.”Mark Littlewood, director general of the Institute for Economic Affairs slammed the protest, saying it sends the wrong message to businesses. He said: “Any sensible company or individual will minimise its tax. These people are the ones who contribute the vast majority of UK tax reciepts.”Protesters stormed Arcadia and Vodafone branches across the country. Some demonstrators even glued themselves to the windows of Topshop, chanting “Philip Green, pay your tax, it’s our money and we want it back.” Green, who recently completed a government spending review where he uncovered millions in potential savings, hit back at protesters, saying he pays “tens of millions” of pounds in tax in the UK.Meanwhile, the Treasury is set to announce a raft of anti-avoidance measures expected to raise £2bn over five years.Q&A: WHO IS BEHIND THE PROTESTS AND WHAT DO THEY WANT TO ACHIEVE?Q. WHO ORGANISED SATURDAY’S PROTESTS?A. A group called UK Uncut. It acts as a central hub for protesters but individual acts of civil disobedience are carried out by autonomous “cells,” often groups of students. It also receives input and support from organisations including the Tax Justice Network, the Jubilee Debt Campaign, Compass and the Public and Commercial Services Union. The group says it does not have a leader or single founder.Q. WHAT DOES UNCUT WANT TO ACHIEVE WITH THE PROTESTS?A. It says the point of the group is to chase firms who are avoiding paying tax in the UK while taxpayers are asked to shoulder the burden of the austerity measures.Q. HOW DOES UNCUT MOBILISE ITS FOLLOWERS?A. Predictably, it is mostly driven by the internet. Individual groups meet and share information over Facebook and Twitter. It also has its own website on which individuals can join or form new groups.Q. WHAT TACTICS DOES THE GROUP ADVOCATE?A. Its website suggests tactics including setting off stink bombs, ringing up huge bills and refusing to pay, leaving cheese in the pockets of clothes, setting off personal alarms, taking over changing rooms and distributing fake vouchers. More than 20 people were arrested as part of the demonstrations on Saturday. Show Comments ▼ Share Cadbury may be next target for protesters last_img read more

German business confidence hits 19-year high

first_imgFriday 17 December 2010 10:07 am German business confidence hits 19-year high Show Comments ▼ whatsapp Tags: NULL John Dunne Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof German business morale rose to its strongest level since 1991 in December, buoyed by anincreasingly strong domestic sector that is helping the economy power ahead of weaker euro zone peers.The Munich-based Ifo think tank said on Friday its business climate index, based on a monthly survey of some 7,000 firms, rose to 109.9 from 109.3 in November. The rise was the seventhin a row and surpassed expectations for a fall to 109.1.The reading amplified the positive message from other German data released this week, showing Europe’s largest economy is leaving behind those weaker members of the euro zone strugglingwith a debt crisis. “The German economy is truly in top form,” said DekaBank economist Andreas Scheuerle. whatsapp last_img read more

Bahrain frees British bankers

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Bahrain frees British bankers Share BAHRAIN has released four Britons held in the country for 18 months after the banks they worked for collapsed, in a meltdown that has caused a multi-billion dollar row between two Saudi families.The four, who worked at banks related to the empires of businessman Maan Al-Sanea and the Algosaibi family he is now in conflict with, all returned from Bahrain this week, sources close to the matter said.The men had been ordered not to leave the small island nation off the coast of Saudi Arabia, pending investigations in mid-2009. KCS-content center_img whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sunday 19 December 2010 10:25 pm Show Comments ▼ Tags: NULLlast_img read more