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Taxation
Sept 1, 2023 10:52:28 GMT
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Post by walterpaisley on Sept 1, 2023 10:52:28 GMT
Yes buses are great - they keep the poor off the roads and allow the rest of us to drive unrestricted.. I use buses all the time. £2 flat fare, regular services (lucky to have a main road nearby), no parking fees, bus lanes that allow them to sail past the jams, and time to read the paper. What's not to like? (As for using flights for work, as pointed out earlier, well, needs must. And I also use carbon offsetting to go some small way towards mitigation. As I shall do tomorrow as I set off on a much needed cruise..) |
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Post by Steve on Sept 1, 2023 10:55:28 GMT
Well UK Corporate tax is 25%, so using those figures and that revenue the tax bill would be closer to over £300m Err no. Net profit is usually a small fraction of revenue |
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Post by wapentake on Sept 1, 2023 10:57:15 GMT
Maybe, but the very fact he's already using a bus rather than a private car is a hopeful sign. Yes buses are great - they keep the poor off the roads and allow the rest of us to drive unrestricted.. Public transport is not safe nor pleasant,in my working life the idea I could use public transport to get to work is a joke,the days where your workplace is close to home are practically a thing of the past. There seems to be a movement to sanctify bike riders and demonise car owners,the freedom to travel at your convenience for the plebs has been short lived if this progresses. All that will happen is that those with the cash will carry on as they did before whilst the plebs are put in their place. The local labour council where I live happily push the ideal cars must be driven off the road,the councillors and senior officials need to get round and of course don’t travel with the plebs,no it’s black cabs and the plebs pay the bill and if they are going from one place to another then another the cab is told to wait with clock running,I mean they don’t need the inconvenience of calling for another cab and waiting for it do they? |
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Post by Fairsociety on Sept 1, 2023 11:00:09 GMT
Well UK Corporate tax is 25%, so using those figures and that revenue the tax bill would be closer to over £300m As was pointed out earlier - we tax profits not revenue. This is 2021 data, so I suspect it's a lot more now 2023
How much did Google make in 2021?
Google, which like other tech firms is looking at budget and potential job cuts as global economic conditions become tougher, reported £3.4bn in turnover and £1.1bn in pre-tax profits in the 18 months to the end of December 2021.
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Post by Fairsociety on Sept 1, 2023 11:02:38 GMT
Google UK Limited reported a net profit of 896 million British pounds in the 18 month fiscal period that ended December 31, 2021. Google UK Limited changed its financial year end to December 31 from June 30. This was an increase on the previous year, where the company reported 225.99 million pounds. Google generates the majority of revenue through advertising.
Going just by 2021, that still makes a tax bill of £200m which is what I posted, they upped their £50m to £200m, which is proportionate to their 'profits'.
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Post by patman post on Sept 1, 2023 11:04:10 GMT
Multi national companies /financial institutions seem to be collectively more powerful than governments. Not sure that's true — look at how (mainly totalitarian) governments around the world seize control of companies, or their local subsidiaries, when it suits them.
A few examples in recent history are Egypt taking over the Suez Canal, Chile's Allende taking over copper mining, Castro expropriating all foreign-owned companies in Cuba and eventually nationalising all remaining privately owned businesses in Cuba, down to the level of street vendors... |
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Post by wapentake on Sept 1, 2023 11:04:44 GMT
Google UK Limited reported a net profit of 896 million British pounds in the 18 month fiscal period that ended December 31, 2021. Google UK Limited changed its financial year end to December 31 from June 30. This was an increase on the previous year, where the company reported 225.99 million pounds. Google generates the majority of revenue through advertising. Never a truer phrase that only the little people pay taxes. |
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Post by Fairsociety on Sept 1, 2023 11:05:40 GMT
No idea if your figures are right but you don’t pay corporation tax on turnover you pay on profit. If labour costs are taking such a big proportion of turnover, unlikely to be much profit left after other costs. They are though on your figures paying around £300m in each of VAT and payroll taxes. Well to be fair I have double checked, I am going on what I remember but it does appear they were shamed in to paying more.
Google’s UK tax bill jumps from £50m to £200m
Google UK Limited reported a net profit of 896 million British pounds in the 18 month fiscal period that ended December 31, 2021. Google UK Limited changed its financial year end to December 31 from June 30. This was an increase on the previous year, where the company reported 225.99 million pounds. Google generates the majority of revenue through advertising.
Going just by 2021, that still makes a tax bill of £200m which is what I posted, they upped their £50m to £200m, which is proportionate to their 'profits'.
^^^ |
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Post by Bentley on Sept 1, 2023 11:16:52 GMT
Multi national companies /financial institutions seem to be collectively more powerful than governments. Not sure that's true — look at how (mainly totalitarian) governments around the world seize control of companies, or their local subsidiaries, when it suits them.
A few examples in recent history are Egypt taking over the Suez Canal, Chile's Allende taking over copper mining, Castro expropriating all foreign-owned companies in Cuba and eventually nationalising all remaining privately owned businesses in Cuba, down to the level of street vendors... Collectively….and seem not ‘ seemed’. |
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Taxation
Sept 1, 2023 11:21:36 GMT
via mobile
Post by dappy on Sept 1, 2023 11:21:36 GMT
Struggling to understand the point you think you are making now Fairsociety.
Google’s 2022 accounts will be published at the end of the month. They will have contributed taxes to the economy in many ways - three big ones
1) corporation tax on PROFIT . We don’t yet know what that will be for 2022. As most of their sales are from advertising and advertising has been a challenging environment, my guess is that profits in 2022 and therefore corporation tax will be down on the prorated figures from their last accounting period. We will see.
2) VAT. For a business where it’s costs are largely labour, this is likely to be around say 15% of its UK earned turnover. This is likely therefore to be a significant figure almost certainly we’ll above corporation tax. The figure will not be reported in the accounts so will not be publically available
3) payroll taxes. Income tax and employee and employer NI are likely to result in tax receipts of c 35% of the reported payroll figure assuming the company’s staff are based in UK. Again this for this business will likely comfortably exceed Corporation Tax but the figure will not be publicly reported.
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Post by Fairsociety on Sept 1, 2023 11:27:58 GMT
Struggling to understand the point you think you are making now Fairsociety. Google’s 2022 accounts will be published at the end of the month. They will have contributed taxes to the economy in many ways - three big ones 1) corporation tax on PROFIT . We don’t yet know what that will be for 2022. As most of their sales are from advertising and advertising has been a challenging environment, my guess is that profits in 2022 and therefore corporation tax will be down on the prorated figures from their last accounting period. We will see. 2) VAT. For a business where it’s costs are largely labour, this is likely to be around say 15% of its UK earned turnover. This is likely therefore to be a significant figure almost certainly we’ll above corporation tax. The figure will not be reported in the accounts so will not be publically available 3) payroll taxes. Income tax and employee and employer NI are likely to result in tax receipts of c 35% of the reported payroll figure assuming the company’s staff are based in UK. Again this for this business will likely comfortably exceed Corporation Tax but the figure will not be publicly reported. I've explained, not going round in circles, Google upped their £50m to £200m on their 'profits' going back 2021, I suspect that during lockdown their profits soared, I am only going on data from 2021, if anyone can find Google profits post 2021 it would be handy, as I can't seem to find any data relating to its UK arm. |
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Post by Fairsociety on Sept 1, 2023 11:28:48 GMT
In fact Google 'Google profits UK' ... LOL
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Taxation
Sept 1, 2023 11:34:27 GMT
via mobile
Post by dappy on Sept 1, 2023 11:34:27 GMT
As I said 2022 financials will be published at end of September.
Agreed they traded better in 18months to 31/12/21 than year to 30/6/20 and therefore paid more corporation tax.
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Post by buccaneer on Sept 1, 2023 11:45:29 GMT
Seems the point of the OP is being missed.
The clip claims people will be taxed on things like sugar. A far cry from multinationals. Like Ulez during the cost of living crisis this looks like more robbery from the wallets of ordinary folk.
'Ah, but it's for your own good we do this' says Big Brother.
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Post by Fairsociety on Sept 1, 2023 11:51:45 GMT
Seems the point of the OP is being missed. The clip claims people will be taxed on things like sugar. A far cry from multinationals. Like Ulez during the cost of living crisis this looks like more robbery from the wallets of ordinary folk. 'Ah, but it's for your own good we do this' says Big Brother. Indirect taxes (stealth taxes) are worse than direct taxes, because direct taxes are based on what you earn.
Indirect taxes impact the less well off even more, stealth taxes are Labours favourite backdoor taxes, they can impose them on 'everyone', so those who can least afford to pay them are hit the hardest, ULEZ, is a tax on 'everyone' and it's strongly endorsed by Labour, so how can Labour possibly say they are the 'party of the poor'?
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