Uber, another company sucking money out of the UK.

[Nibble]

Uber reported in 2014 that they were losing $470m a year. This has largely been dismissed as utter nonsense by economists.

 

[Buzzer]

Guessing? No, just taking all into consideration it is highly unlikely Uber are not making profit. Even if they were not making profit, which they are, their tax system is set up to avoid paying UK tax. You're clutching at straws now really. I'd expect more from you.

A Bloomberg report from last month says that Uber are currently making $470 million operating losses. I reckon Bozza is spot on.

http://www.bloomberg.com/news/artic...sheet-reveals-470-million-in-operating-losses

 

[Bozza]

Guessing? No, just taking all into consideration it is highly unlikely Uber are not making profit. Even if they were not making profit, which they are, their tax system is set up to avoid paying UK tax. You're clutching at straws now really. I'd expect more from you.

Laughable and weak. As I say, I expected better from one of NSC's finest. Perhaps this is what happens when you stray away from matters you have knowledge of.

1. Prove they are making a profit. I'll sit here and wait - take as long as you like.
2. Explain why they are repeatedly raising hundreds of millions of dollars given they are, according to you, some sort of magic money-making machine.

 

[Herr Tubthumper]

Wouldn't happen in Germany

http://www.nytimes.com/2015/03/19/technology/germany-frankfurt-uber-ruling-taxi.html?_r=0

BERLIN — A judge in Frankfurt dealt a setback to Uber on Wednesday, ruling that drivers for its ride-sharing service UberPop must hold the official permits required of taxi drivers to operate in Germany. The ruling reinstates one of the most severe legal restrictions faced by the company anywhere in the world.

 

[Nibble]

i count a third, people not even trying to understand economics getting on a high horse about tax. when they show a profit, we can come back to how much they should be paying in the UK. as it is the only argument Mr Brand has (and i assume you share) is that they are owned by Google/Goldman Sachs, have an employee connected to the PM, therefore they must be bad.

There you go again, assuming. I've stated that my problem with them is their refusal to pay UK corporation tax. Do you believe they should be paying tax in the UK?

Are people on here aware that you are required to pay corporation tax whether you are making a profit or not. This tax is paid on revenue (with appropriate thresholds in place) not profit, So whether they make profit or not is wholly irrelevant. They're still not paying fair tax.

 

[Nibble]

A Bloomberg report from last month says that Uber are currently making $470 million operating losses. I reckon Bozza is spot on.

http://www.bloomberg.com/news/artic...sheet-reveals-470-million-in-operating-losses

Yes, and it's largely been dismissed as nonsense.

 

[hans kraay fan club]

Of course it's traceable but with police and council checks on Hackney licences before a driver can tout for business the passenger is safe in the knowledge that assault is far less likely in the first place and I'm not sure that drunk women are any safer from sexual assault just because the driver's route is known.

What are the police and council checks? That the driver has no proven history of sexual crimes? Its all conjecture, but I'd personally rather my other half was in a logged ride, with a fully identifiable driver, than waving down a cab at the side of the road.

 

[Buzzer]

Uber reported in 2014 that they were losing $470m a year. This has largely been dismissed as utter nonsense by economists.

It's been dismissed by Uber's PR people, I can't find many economists dismissing it. Bear in mind too that this is OPERATING LOSS, there's no fancy balance sheet manipulation of exceptional items or extraordinary write-offs so Uber is clearly not profitable at present. It's foregoing profits for growth and market share.

If this half a billion dollar loss is deemed nonsense by economists then surely the country it ultimately pays tax to would want to know why it's fiddling its books, wouldn't it?

 

[Nibble]

Laughable and weak. As I say, I expected better from one of NSC's finest. Perhaps this is what happens when you stray away from matters you have knowledge of.

1. Prove they are making a profit. I'll sit here and wait - take as long as you like.
2. Explain why they are repeatedly raising hundreds of millions of dollars given they are, according to you, some sort of magic money-making machine.

Childish post deliberately missing the point I'm making.

Profit or not (I believe they ARE making profit) do you believe they should be paying fair tax in the UK?

 

[Buzzer]

What are the police and council checks? That the driver has no proven history of sexual crimes? Its all conjecture, but I'd personally rather my other half was in a logged ride, with a fully identifiable driver, than waving down a cab at the side of the road.

As far as I know all Hackney plate cabbies are subject to PNC checks. I know that's definitely true in Worthing as my brother is a cabbie there.

 

[Nibble]

It's been dismissed by Uber's PR people, I can't find many economists dismissing it. Bear in mind too that this is OPERATING LOSS, there's no fancy balance sheet manipulation of exceptional items or extraordinary write-offs so Uber is clearly not profitable at present. It's foregoing profits for growth and market share.

If this half a billion dollar loss is deemed nonsense by economists then surely the country it ultimately pays tax to would want to know why it's fiddling its books, wouldn't it?

Should still be paying UK tax.

 

[Buzzer]

Childish post deliberately missing the point I'm making.

Profit or not (I believe they ARE making profit) do you believe they should be paying fair tax in the UK?

If you don't make a profit then you don't pay tax. That's pretty fair.

 

[hans kraay fan club]

As far as I know all Hackney plate cabbies are subject to PNC checks. I know that's definitely true in Worthing as my brother is a cabbie there.

I'm sure they are, and the Uber drivers should be too.

 

[Mattywerewolf]

There you go again, assuming. I've stated that my problem with them is their refusal to pay UK corporation tax. Do you believe they should be paying tax in the UK?

Are people on here aware that you are required to pay corporation tax whether you are making a profit or not. This tax is paid on revenue (with appropriate thresholds in place) not profit, So whether they make profit or not is wholly irrelevant. They're still not paying fair tax.

er...No

https://www.gov.uk/corporation-tax

some key phrases from attached...

Your limited company must pay Corporation Tax on its taxable profits.

If your company isn’t based in the UK but has an office or branch here, it only pays Corporation Tax on profits from its UK activities.

 

[Bozza]

Childish post deliberately missing the point I'm making.

Profit or not (I believe they ARE making profit) do you believe they should be paying fair tax in the UK?

Read this, it might help you understand why they will have no interest in making a profit right now and why their investors will also have no interest in them turning a profit in the near future: http://www.wired.com/2014/07/ubers-brilliant-strategy-to-make-itself-too-big-to-ban/

 

[Bozza]

There you go again, assuming. I've stated that my problem with them is their refusal to pay UK corporation tax. Do you believe they should be paying tax in the UK?

Are people on here aware that you are required to pay corporation tax whether you are making a profit or not. This tax is paid on revenue (with appropriate thresholds in place) not profit, So whether they make profit or not is wholly irrelevant. They're still not paying fair tax.

Ha ha ha ha ha ha ha. Brilliant!

 

[beorhthelm]

There you go again, assuming. I've stated that my problem with them is their refusal to pay UK corporation tax. Do you believe they should be paying tax in the UK?

Are people on here aware that you are required to pay corporation tax whether you are making a profit or not. This tax is paid on revenue (with appropriate thresholds in place) not profit, So whether they make profit or not is wholly irrelevant. They're still not paying fair tax.

rather holed your entire position with that.


seems you don't know the difference between income and corporation tax after all.

 

[Buzzer]

I'm sure they are, and the Uber drivers should be too.

That advert on behalf of London cabbies someone posted earlier seems to suggest that they don't. I'm not knocking Uber on this, just saying that I think I'd prefer my girlfriend took a licensed cab rather than an Uber one if she was a bit sloshed and needed a cab home.

 

[Westdene Seagull]

From what I can see Uber do not pay Tax in the UK. They pay Dutch corporation tax. They really should be forced to have a London License base and to pay UK tax.
I imagine Bozza, this is why it nigh on impossible to get hold of any published UK profit figures. They seem to not be under any obligation to declare their UK profit.
They operate in the UK yet are not obliged to pay corporation tax. Hardly seems fair does it?
Don't make enough profit to send abroad? Haha! Really, pull the other one.

Welcome to the boarderless EU

 

[Nibble]

rather holed your entire position with that.


seems you don't know the difference between income and corporation tax after all.

Ah, my bad, don't know why I typed corporation on that line.

To the original and most pertinent point, should Uber be paying tax in the UK. Several MP's believe so and have lodged complaints which the HMRC is investigating. So I guess some people out there are thinking the same as me.