Despite the government's and HMRC's anti offshore rhetoric, HMRC is more than prepared to use companies that are offshore.
In a more than ironic twist, a multimillion-pound HMRC publicity campaign to stamp out tax evasion and avoidance used an advertising agency ultimately controlled in an offshore haven.
The Times reports that HMRC spent more than £6 million on the campaigns, including £300,000 specifically on offshore evasion.
Among the agencies used was TNS, a research agency, whose ultimate parent company and controlling party is WPP, the world’s biggest advertising company which is incorporated in Jersey.
As ever with the government and its organs, it's a case of do as we say not do as we do!
Tax does have to be taxing.
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OK HMRC is a pile of shite and is a signature institution for hypocrisy. However, as I'm sure you know better than most Ken, where a company is incorporated is more or less meaningless concerning tax law: it's where its control ultimately resides which is the key factor. As it happens WPP is apparently run from Dublin although its main management offices are in London: the Jersey incorporation of WPP is AFAIAA irrelevant for tax purposes. HMRC can, and should be, criticised for many things: this is not one of them.
ReplyDeleteDublin you say?
DeleteNever heard of the double Irish?
no but maybe signing a contract to rent buildings off Mapeleys in Bermuda , a deal that meant their landlords could avoid capital gains on disposals and leaves the dept with no estate hence all the current "digital revolution " bullshit as they force staff who cannot commute to 16 regional centres is , as is the lease on the tribunal centre in Bedford row via a Gibralter based company borrowing money off an associate to wipe out tax here is !
ReplyDeleteNothing to see here, move along!
ReplyDeleteJersey, again, Mmmm....!
ReplyDelete