The Tories
So, I have a reasonable size company with several employers.
I have a pet project, it could be anything that seems worthwhile.
I use part of what should go in taxes to set up and register a charity.
I can now use up to 95% of any cash paid into that charity as administration fees. I can also offer my employees the chance of working a couple of days for the charity and reward them with their wages for the time involved. Which I no doubt can write off against my company taxes. Why do I bother producing anything? Why don't I just liquidate my main companies assets then run the charity full time?
Lovely tax free dosh with volunteer workers doing unpaid work to keep me smelling of roses.
After all, I no longer have to worry about paying a workforce, ensuring they are attracted to working for me by offering good pension and company perks, no doubt no VAT, if I also make it a religious charity perhaps no business rates on my place of worship/head office.
I could use part of my administration costs to pay for excellent accountants that will filter what's left to some offshore bank say perhaps Iceland then, although I haven't actually paid out one penny to the needy of my charity my accounts show the money to be intact and earning me a nice bit of tax free interest that will be used to 'improve' my administration.
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“I am a Bear of Very Little Brain, and long words bother me.”
Winnie the Pooh
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