The Independent Banking Commission's interim report, in April 2011, stated that only £3billion of financial services tax contribution can easily be moved out of the UK. That is less than 1% of UK tax takings.
Tuesday 5 April 2011
Liebrary: With proper bank regulation and some banking leaving the UK, the impact on taxes would be less than 1%
Reality: Barclays admitted that of the £2billion taxes they took credit for, only £113m was corporation tax. The rest was taxes paid by their staff - the vast majority of whom would remain in the UK even if Barclays shifted its HQ overseas.
The Independent Banking Commission's interim report, in April 2011, stated that only £3billion of financial services tax contribution can easily be moved out of the UK. That is less than 1% of UK tax takings.
The Independent Banking Commission's interim report, in April 2011, stated that only £3billion of financial services tax contribution can easily be moved out of the UK. That is less than 1% of UK tax takings.
January 2012, AON (big US insurer) relocates to London.
ReplyDelete"At the same time, Aon will change its legal jurisdiction of incorporation from Delaware - a state in the US where many companies are based for disclosure purposes - to England."
http://www.bbc.co.uk/news/business-16548595