Freethinkeruk’s Weblog

UK Political weblog

Archive for the tag “income tax”

Dear Prince Charles Supporter

Yes, that’s you, like it or not you contribute to Prince Charles ever growing fortune.

His accounts, see BBC, were published today (not checked by the Audit Office of course) and show that his personal income increased to £16.4m while his tax bill decreased by 10%! Most of this income comes from the Dutchy of Cornwall which is not the private property of Charles, yet he takes all the profit. What the BBC site does not highlight is that earlier this year Charles was given a tax break worth £700,000 and the Dutchy receives ‘Grants-in-Aid’ of over £2m.

Happy to support the Royal spongers? Think of them the next time that you look at your tax deductions. The MP’s who had their snouts in the trough are mere piglets compared to the Royal Family.

Oh by the way; it seems that 2 butlers, 5 chefs, a personal dresser and 2 valets are tax deductable!

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A Right Royal Spend-up

There is a family business in our country which has been a financial success for hundreds of years. It’s profits rise year on year and it never suffers when there is a down-turn in the economy. Being a private company it is not quoted on the Stock Exchange and yet every citizen contributes to it’s income on an annual basis amounting to over £40million. This company is wasteful of resources and yet has managed to come to an arrangement with successive Governments whereby it only pays a little tax on its enormous profit if it feels like it, on a voluntary basis.

It’s main board members pay no income or other tax on what amounts to a rollover Lottery win every few months and they publish accounts devoid of full detail and disclosures that would make a bookkeeper weep never mind a chartered accountant. This company owns vast estates, properties and businesses all over the UK and abroad and on most of them it pays no Council Tax. It is rumoured that the Chairwoman has £1million of fur coats and a private art collection worth £20million leading one to believe that security costs alone must be enormous. Amazingly this is not the case as security is paid for by the unwilling ‘investors’ in this private business, even the poorest makes a contribution.

Seem like a good thing to get into? You bet, the only trouble is you have to be born into it or marry someone in it. Once in though you will have enormous power and influence, be unaccountable to anyone, no one can vote you out and you will live in luxury ’til the end of your days when you can pass it on to your children.

Wot! No Royal Yacht?The Company of course is The House of Windsor; Chairwoman, The Queen, M.D., Prince Phillip plus mutiple board members.

Budget ‘U’ Turn

Changes to income taxation rates commenced in April this year meant several million of the lowest paid faced an increase in taxation. Following mounting criticism, changes have been announced that will reimburse almost all those who have lost out. The cost to the Exchequer will be £2.7bn and will be financed by borrowing!

The cost to the UK of fighting in Iraq and Afghanistan for this year alone is estimated to be £3.297bn. Source

I don’t need to point out the link between these costs do I?

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