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Sunday, 7 November 2010

FTSE 100 executive pay rises 55%, survey says

An interesting couple of days. Board room pay is up over 50%, there are rumours (denied) about a big company managing to wiggle out of a tax bill that would cover the recent cuts to the welfare bill.

Same old Tories

On Vodaphone:
The assessment related to so-called Controlled Foreign Companies (CFC) liabilities, which applies to firms that are controlled by UK residents but which pay tax on their earnings abroad at a lower rate.
However, an article in the Private Eye estimated the taxpayers' bill for the CFC liabilities and other arrangements "was likely to be at least £6bn" in lost tax.
According to the magazine, a former official familiar with the case described it as an "unbelievable cave-in" by HMRC.
"There is no question of Vodafone having an outstanding tax liability of £6bn. That number is an urban myth."

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