April 26th in Business, HMRC, Offshore, Recession, Tax, Tax Avoidance, VAT by Editor .

Tax man’s tough stance towards business

Scares them offshore…

Charles Tyrwhitt UK
 

Businesses have been pretty stunned at the approach taken by HMRC during the recession. None more so than those actually driven to the wall or those still getting clobbered by the tax authorities. Despite all the noise the government has made about helping business and the cries for help; even those with loud voices couldn’t get their message across.

The Times: INEOS, the £30 billion chemicals group that is moving offshore to escape UK tax rates, was refused financial help by the government last year when recession slashed its sales.

Jim Ratcliffe, Ineos’ founder and majority owner, said the group had asked for help with “liquidity”, including a temporary deferral of Vat payments. The government said no. “That [the appeal to government] consumed quite a lot of time and got us absolutely nowhere,” he said.

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Frustrating but at least INEOS can up-sticks and bugger off to somewhere more appealing. Britain’s small businesses however…

Oh, of course, they have Sir Alan looking out for them. Lucky folks.

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