Tax Avoidance (Again – Sorry)……

4 Dec

‘You’re probably sick of me harping on about tax evasion and I promise I’ll stop soon.  But, this is quite an interesting point so I thought I’d share it with you’

 

J.D. Wetherspoon is a typical example of a high street brand and there’s probably one near you.  They offer reasonably cheap pints and terrible but cheap food.  I was in one today and happened to pick up their newsletter and read an article about the tax they pay.  Assuming it’s legitimate and honest it makes some interesting points.

 

J. D. Wetherspoon is quite proud of its contribution to HMRC and they should be.  Totalling all the different taxes they paywetherspoons_Logo including VAT, PAYE, Alcohol Duty and, importantly, Corporation Tax, Wetherspoon’s contribution to the government coffers for 2012 was £519.3 million; that’s half a billion pounds.  I’m pretty sure that they could have instructed their accountants and legal departments to legally circumvent some of the payments but they chose not to, which is admirable.

 

The author then raises an important point.  If only 1,400 other companies of approximately the same size made the same contribution it would cover all of the government’s spending.  If their calculations are accurate it demonstrates the scale of the problem with which we face.  There must be 1,400 companies of a similar size to Wetherspoon which only highlights the enormity of the problem…….

 

‘Well done Wetherspoon for acting responsibly and paying its dues within the letter and moral obligation of the law’

 

‘Now all we need is a number of other well known brands to follow suit and the penalisation of the UK’s most vulnerably citizens can be stopped but something tells me they won’t be queuing up to join in’……

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