[Albion] Margaret Hodge on the BBC talking about tax avoidance

[Lower West Stander]

Truly unbelievable given her involvement with Stemcor.

The BBC have completely lost the plot with this. They really need to watch out for hypocrisy on their investigative journalism.


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[Cheshire Cat]

There are a lot of not very interesting stories about people who haven't broken any laws.

 

[Machiavelli]

Yes, terrible, they really shouldn't be sticking their nose in things they don't understand. Move along now please.

 

[clapham_gull]

Isn't this story a bit more complex ?

One of the good reasons for an off shore trust is to hide wealth from oppresive regimes.

Her family were refugees from Nazi Germans and deposited their wealth off shore.

Shares in her name were put in trust for her as a child she had no control over them.

When they came onshore much later she was taxed.

She has subsequently (in interviews) criticised what her parents did but understood why they did it.

The company has been restructured after financial difficulties and the shares are now relatively worthless.

Rather than being a hypocrite, I suggest she's actually quite brave to open herself up to acquisitions of criticism which is quite different.

Only reading what I've read and I'm not a Labour voter.

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[cunning fergus]

Isn't this story a bit more complex ?

One of the good reasons for an off shore trust is to hide wealth from oppresive regimes.

Her family were refugees from Nazi Germans and deposited their wealth off shore.

Shares in her name were put in trust for her as a child she had no control over them.

When they came onshore much later she was taxed.

She has subsequently (in interviews) criticised what her parents did but understood why they did it.

The company has been restructured after financial difficulties and the shares are now relatively worthless.

Rather than being a hypocrite, I suggest she's actually quite brave to open herself up to acquisitions of criticism which is quite different.

Only reading what I've read and I'm not a Labour voter.

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Hmm, so her family were wealthy refugees that deposited their money offshore in their haste to flee.

No doubt all disclosed to British authorities on arrival.

Nothing has changed.

 

[Titanic]

...The company has been restructured after financial difficulties and the shares are now relatively worthless.

Rather than being a hypocrite, I suggest she's actually quite brave to open herself up to acquisitions of criticism which is quite different...

http://www.telegraph.co.uk/finance/...on-2.1bn-of-business-generated-in-the-UK.html

"...Analysis of Stemcor’s latest accounts show that the business paid tax of just £163,000 on revenues of more than £2.1bn in 2011. However. it is not known whether the company – which made profits of £65m – used similar controversial tax avoidance measures criticised in the past by Mrs Hodge.
Stemcor’s tax bill to the exchequer equates to just 0.01pc of the revenues it booked through its UK-based business. In accounts filed with Companies House, Stemcor revealed that despite generating about one third of its revenues in Britain, its UK tax contribution made up only 2.7pc of the tax the company paid globally.
Stemcor was founded by Mrs Hodge’s father Hans Oppenheimer more than 60 years ago.
Today, the business claims to be the sixth largest private UK company by turnover. Last year the company, which employs 2,000 people in 45 countries, generated sales of £6bn from trading about 20m tonnes of steel."

 

[Pevenseagull]

I've got a couple of days in hospital (NHS) coming up. I might well have a good look into this.

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.....Or I might just watch TV and indulge myself with tea and biscuits.

 

[Juan Albion]

If I'm not mistaken, NSC used to be run by someone hiding in a certain tax-loophole.