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| Thames Water paid no corporation tax http://www.x404.co.uk/forum/viewtopic.php?f=19&t=19138 |
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| Author: | pcernie [ Mon Jun 10, 2013 2:29 pm ] |
| Post subject: | Thames Water paid no corporation tax |
http://www.bbc.co.uk/news/business-22844952 Not only are we charging you for a basic human right, we'd like to screw you over even further... |
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| Author: | Amnesia10 [ Mon Jun 10, 2013 2:44 pm ] |
| Post subject: | Re: Thames Water paid no corporation tax |
They can legally deduct the investment in new pipelines. It is very handy when they know that the tax rates are coming down. They can invest heavily now offsetting the costs against profits this year, but as they gradually use up their deferred tax account they will be eventually paying tax. |
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| Author: | pcernie [ Mon Jun 10, 2013 3:12 pm ] | |||||||||
| Post subject: | Re: Thames Water paid no corporation tax | |||||||||
On £1bn? If I'm reading it right... Either way, it all works out very nicely for them while their customers see their bills go up well past inflation. I wonder what their execs are paid. |
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| Author: | Amnesia10 [ Mon Jun 10, 2013 3:45 pm ] | ||||||||||||||||||
| Post subject: | Re: Thames Water paid no corporation tax | ||||||||||||||||||
I thought that the profits were £145 million if they invested five times that new pipelines etc, the tax allowances on that £1 billion of investment would be roughly £200 which would be deductible from this years profits, plus they could put another £55 million against next years profits. Though it all depends on how fast they are writing off that investment. |
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| Author: | MrStevenRogers [ Mon Jun 10, 2013 5:14 pm ] |
| Post subject: | Re: Thames Water paid no corporation tax |
remember, we are all in this together ... |
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| Author: | Amnesia10 [ Mon Jun 10, 2013 5:29 pm ] | |||||||||
| Post subject: | Thames Water paid no corporation tax | |||||||||
Actually as long as they are not using offshore vehicles to evade tax this is just a consequence of high investment. Also remember that they are employing a lot of people rebuilding their sewage and water systems, and that must be good. Sent from my iPad using Tapatalk. |
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| Author: | MrStevenRogers [ Mon Jun 10, 2013 8:33 pm ] | ||||||||||||||||||
| Post subject: | Re: Thames Water paid no corporation tax | ||||||||||||||||||
so the tax payer subs private industry, again. while private industry avoids paying tax on profits, again. remember, we are all in this together ... |
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| Author: | l3v1ck [ Mon Jun 10, 2013 8:37 pm ] | |||||||||
| Post subject: | Re: Thames Water paid no corporation tax | |||||||||
So the've got about £1billion of deferred tax on their books? When are they going to pay that then? |
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| Author: | Amnesia10 [ Tue Jun 11, 2013 5:31 am ] | |||||||||||||||||||||||||||
| Post subject: | Re: Thames Water paid no corporation tax | |||||||||||||||||||||||||||
It turns out that they did use a Caymen Islands scheme to reduce tax. 
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