I1L2T3 Posted November 18, 2013 Share Posted November 18, 2013 I believe that all UK banks have a licence allocated to a UK entity. Therefore any bank can move it's HO and thereby remove the need to pay corporation tax on it's full profits. If they did this then they would only pay tax on UK profits via the entity registered in the UK and it would be very difficult to revoke a licence. We've already seen that banks who were trading, in effect, insolvently (RBS) didn't get their licence revoked. All banks are made up of individual country entities that roll up to one HO company. If your whole argument revolves around corporation tax paid by banks then you're maybe overcooking things just a bit because the amounts paid are already minimised, e.g. Barclay's paid £113m in 2009. Link to comment Share on other sites More sharing options...
Expat owl Posted November 18, 2013 Author Share Posted November 18, 2013 If your whole argument revolves around corporation tax paid by banks then you're maybe overcooking things just a bit because the amounts paid are already minimised, e.g. Barclay's paid £113m in 2009. My points aren't based on anything. I'm simply pointing out that revoking a banking licence isn't as easy as people seem to think and Nationalising UK branches of an overseas bank is also not easy !!! Link to comment Share on other sites More sharing options...
tinfoilhat Posted November 18, 2013 Share Posted November 18, 2013 I'm sure a few countries (Sweden is one) offer free child care for all, and I'm not sure it's a daft idea if you want both parents working (assuming of course you think it's desirable to have both parents working). What is daft is the cheap populist shot of making the banks specifically pay for it. Link to comment Share on other sites More sharing options...
truman Posted November 18, 2013 Share Posted November 18, 2013 11 comments in and not a word about parents having children they can't afford. Is everybody really that pre-occupied with Banks that we turn threads like this into 'Banks get everything they deserve' threads. ........................ ---------- Post added 18-11-2013 at 19:48 ---------- I'm sure a few countries (Sweden is one) offer free child care for all, and I'm not sure it's a daft idea if you want both parents working (assuming of course you think it's desirable to have both parents working). What is daft is the cheap populist shot of making the banks specifically pay for it. What's the income tax rate in Sweden? Link to comment Share on other sites More sharing options...
tinfoilhat Posted November 18, 2013 Share Posted November 18, 2013 ........................ ---------- Post added 18-11-2013 at 19:48 ---------- What's the income tax rate in Sweden? I suspect its rather high. Link to comment Share on other sites More sharing options...
Scabbydog Posted November 18, 2013 Share Posted November 18, 2013 An emtpy threat. As surely as blood-sucking parasites cling to their hosts while slowly killing it off, the Greedy bankers will NEVER leave the UK Quite a lot of them already have. They sold out to Santander or ING and are now based overseas. Then there is HSBC (Hong Kong & Shanghai Banking Corporation) which used to be Midland Bank. They are still based in Britain but have expanding interests in the emerging markets of the far east. They have a duplicate headquarters in Hong Kong and could move from London in the blink of an eye. Of course there is nothing more British than the Co-operative Bank which has just sacked its crack taking Chairman and Labour Party member. The bank has turned in a £700 million loss and will be well placed to absorb a tax to pay for child care. Perhaps they could fund that by withdrawing the £1 million they pay to 28 of Miliband's MPs. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 18, 2013 Share Posted November 18, 2013 Quite a lot of them already have. They sold out to Santander or ING and are now based overseas. Then there is HSBC (Hong Kong & Shanghai Banking Corporation) which used to be Midland Bank. They are still based in Britain but have expanding interests in the emerging markets of the far east. They have a duplicate headquarters in Hong Kong and could move from London in the blink of an eye. Of course there is nothing more British than the Co-operative Bank which has just sacked its crack taking Chairman and Labour Party member. The bank has turned in a £700 million loss and will be well placed to absorb a tax to pay for child care. Perhaps they could fund that by withdrawing the £1 million they pay to 28 of Miliband's MPs. HSBC - drug money laundering http://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering I wouldn't mind too much if they left Link to comment Share on other sites More sharing options...
truman Posted November 18, 2013 Share Posted November 18, 2013 HSBC - drug money laundering http://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering I wouldn't mind too much if they left I wonder how much of the Rev. Flowers' money went through there... Link to comment Share on other sites More sharing options...
Expat owl Posted November 18, 2013 Author Share Posted November 18, 2013 I wonder how much of the Rev. Flowers' money went through there... None of it. HSBC problems were in Mexico and other S.American countries. ---------- Post added 18-11-2013 at 20:24 ---------- HSBC - drug money laundering http://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering I wouldn't mind too much if they left Well considering how much of the UKs payments traffic goes through HSBC systems, I think there's a whole host of people and businesses that would mind and that's just one example. Don't let that cloud your views though. Link to comment Share on other sites More sharing options...
truman Posted November 18, 2013 Share Posted November 18, 2013 None of it. HSBC problems were in Mexico and other S.American countries. You reckon no drugs money from the UK ends up in South America? I would think it does..eventually... Link to comment Share on other sites More sharing options...
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