James Dyson on Andrew Marr this morning:

Walk away from negotiations
Don't pay anything towards outstanding obligations
Scrap corporation tax
Make it easier to fire people

What a cunt.

On this, I felt a twinge of sympathy for Brown this morning as he was being interviewed and had malicious quotes read to him from books by Blair and Lord Mandelson. Turns out (at risk of poking the bear through the bars <wink>), he wanted tighter regulation of the city, but was shouted down.

I've just been told my corporation tax bill is £100,000 in April. Mr Suction might be onto something
Still, I'm sure this six figure sum will be magnificently efficiently managed and well spent.

They'll have a good Lord Mayor's Banquet this year.

James Dyson on Andrew Marr this morning:

Walk away from negotiations
Don't pay anything towards outstanding obligations
Scrap corporation tax
Make it easier to fire people

What a cunt.

I find it entertaining that Dyson was one of the loudest business voices calling for the UK to join the euro when it was launched. I look forward to him pleading for us to rejoin Europe in 15 years time.

Vacuum cleaner king James Dyson, the high-profile inventor and businessman, is set to reignite the debate surrounding the euro after threatening to expand his operations in Malaysia, rather than at his British factory, if the UK does not join the single currency.

Dyson, who devised the bagless vacuum cleaner, sparked a national debate earlier this year after complaining that the strong pound could force his company to move overseas. This time, however, his comments carry extra weight. Since he made his now famous remarks, Dyson has opened a small factory in Malaysia in a bid to offset both the impact of the pound and planning problems over enlarging his UK factory in Wiltshire.

The Malaysian plant is now used to make products for the Far Eastern markets, chiefly Japan. But Dyson is considering increasing its capacity in the longer term if the UK government's attitude to the single currency doesn't change.

'It's suicidal for the UK not to join the euro. Why should we go on exporting at a loss? We're facing unfair competition,' he said.

As for James Dyson, I don’t know much about him but IIRC he pays a lot more UK tax than a google, he’s set up UK Engineering training facilities and academies, he’s created a lot of wealth for U.K. plc even if I don’t agree with his Brexit views. So let’s just say he’s likely rather more useful than bankers or tax avoiding vampires?

Wait... vampires are real?

And they don’t even pay tax!

Wait... vampires are real?

And they don’t even pay tax!

They should take a long hard look at themselves in the mirr.. oh wait.

.
Don't be daft! Cavey clearly differentiates between tax-paying vampires, who are useful and valuable members of society, and tax-avoiding vampires, who are not.

Wait... vampires are real?

And they don’t even pay tax!

You have “no sympathy” because you’re not the one stumping up huge sums of money, when others vastly more deserving of making such payments get off. That’s why.

It’s ok though because they’re cool.

It's not okay at all. But Dyson did the same thing and has said he wants it abolished. So that makes him exactly as bad as the others.

Bit of a tangent, but our EU membership or lack of it has nothing to do with our Corporation tax rate right? Looks like plenty of EU countries have lower rates.

I find that very hard to understand, but I'll defer to your expertise Apod.

Anyone suggesting abolishing corporation tax should also bear in mind that the natural effect for a close company, one which is controlled by five or fewer individuals (such as Dyson or Cavey Inc) is that taxation in the Uk will revert to a similar model to the US Sub parte F system, such that the owners are taxed transparently, on an arising basis at full income tax (I.e non dividend) rates.

The effect for the shareholder is an acceleration and absolute increase in their tax burden.

I find that very hard to understand, but I'll defer to your expertise Apod.

I’ll guess that you pay 19%CT per year, and tax on dividends that you take out the company. But you probably don’t take more than £150k a year and leave the rest in, so max 32.5% on that lot.