Jeremy Clarkson suspended by BBC...

[FourWheelDrift]

Has it been mentioned that they have formed their new production company, called it W Chump & Sons and has said they will be no advert breaks in the new show?

[WestyCarl]

No body has mentioned it, but the good news is that we are now getting 2 "TG" style shows. Should be enough to stop the moaning, or maybe not..........

[Tonsko]

FourWheelDrift said:

Has it been mentioned that they have formed their new production company, called it W Chump & Sons and has said they will be no advert breaks in the new show?

It's true!

Source said:

03/08/2015 New Board Member Mr J.C. Clarkson appointed
28/07/2015 OLSWANG DIRECTORS 2 LIMITED has left the board
28/07/2015 New Board Member Mr R.M. Hammond appointed
28/07/2015 Mr C.A. MacKie has left the board
28/07/2015 OLSWANG DIRECTORS 1 LIMITED has left the board
28/07/2015 New Board Member Mr J.D. May appointed
28/07/2015 New Board Member Mr A.N. Wilman appointed
20/07/2015 New Board Member OLSWANG DIRECTORS 2 LIMITED appointed
20/07/2015 New Company Secretary OLSWANG COSEC LIMITED appointed
20/07/2015 New Board Member OLSWANG DIRECTORS 1 LIMITED appointed
14/07/2015 New Board Member Mr C.A. MacKie appointed
07/07/2015 New Company Secretary OLSWANG COSEC LIMITED appointed
07/07/2015 New Board Member OLSWANG DIRECTORS 2 LIMITED appointed
07/07/2015 New Board Member OLSWANG DIRECTORS 1 LIMITED appointed
07/07/2015 New Board Member Mr C.A. MacKie appointed

Edit: Changed to make quote work properly.

Edited by Tonsko on Tuesday 4th August 12:49

[turbobloke]

Tonsko said:

FourWheelDrift said:

Has it been mentioned that they have formed their new production company, called it W Chump & Sons and has said they will be no advert breaks in the new show?

It's true!

Source said:

03/08/2015 New Board Member Mr J.C. Clarkson appointed
28/07/2015 OLSWANG DIRECTORS 2 LIMITED has left the board
28/07/2015 New Board Member Mr R.M. Hammond appointed
28/07/2015 Mr C.A. MacKie has left the board
28/07/2015 OLSWANG DIRECTORS 1 LIMITED has left the board
28/07/2015 New Board Member Mr J.D. May appointed
28/07/2015 New Board Member Mr A.N. Wilman appointed
20/07/2015 New Board Member OLSWANG DIRECTORS 2 LIMITED appointed
20/07/2015 New Company Secretary OLSWANG COSEC LIMITED appointed
20/07/2015 New Board Member OLSWANG DIRECTORS 1 LIMITED appointed
14/07/2015 New Board Member Mr C.A. MacKie appointed
07/07/2015 New Company Secretary OLSWANG COSEC LIMITED appointed
07/07/2015 New Board Member OLSWANG DIRECTORS 2 LIMITED appointed
07/07/2015 New Board Member OLSWANG DIRECTORS 1 LIMITED appointed
07/07/2015 New Board Member Mr C.A. MacKie appointed

Edit: Why is it impossible to make the quote thing work on this board software unless you press the 'quote' button

It is possible!

[Tonsko]

turbobloke said:

It is possible!

Ah - so you just have to put 'quote=<something>' rather than just quote.

[BJG1]

technodup said:

SPS said:

£4.2 billion in UK sales has been routed via Luxembourg to avoid paying UK taxes - it's even been in the Guardian not the DM!
Now I think I have my facts more or less sorted

I don't. Sales aren't subject to tax.

Sales are subjected to tax, it's called VAT and Amazon spent years avoiding it sending all their low-value goods out from the Channel Islands.

I'm not bothered by it, personally. Amazon doesn't avoid corporation tax because it doesn't make a profit but it's set up avoid it for when it does.

[98elise]

confused_buyer said:

98elise said:

The point is that the is no tax to pay on the money that is re-invested in the company. Thats the same for every company in the UK.

That's not always true, if whatever it is invested into is then a definable asset then it still counts as profit for tax. If Amazon build a massive distribution network then that network must be worth something.

If you could simply remove your tax liability by just buying stuff every company and individual would be doing so.

That's getting too deep into the detail. Some people seem to think Corporation tax is levied on:

1. Revenue, or
2. Gross Profit

That's including someone who claims to have run a large company.

As far as I can see Amazon pays very little in the way of CT because it doesn't have any real taxable profits.

Some companies actually make net losses for many years, especially those that are building a new business or investing in new technology.

[RYH64E]

98elise said:

That's getting too deep into the detail. Some people seem to think Corporation tax is levied on:

1. Revenue, or
2. Gross Profit

That's including someone who claims to have run a large company.

As far as I can see Amazon pays very little in the way of CT because it doesn't have any real taxable profits.

Some companies actually make net losses for many years, especially those that are building a new business or investing in new technology.

I'm a died in the wool, right wing capitalist but even I don't believe that Amazon don't make a profit, I know that they don't declare a profit but then I know many profitable companies that don't declare a profit. I owe over £100k in CT for last year's declared profits and my accountant has suggested that it's getting to the point where it's worth looking at more proactive measures to reduce my tax bill, I don't think he is suggesting that I sell less or reduce my margins...

[confused_buyer]

audidoody said:

It's a depreciating asset that contributes to the company's net worth (and - if plant or machinery - )will be written off over a number of years. Corporation tax isn't paid on net worth. Only net profit.

At least you haven't suggested that companies should be taxed on turnover.

Edited by audidoody on Tuesday 4th August 10:49

Corporation Tax is not paid on net profit. It is a separate calculation taking into account numerous other things, including investments. It often equates roughly to what the accounts show as net profit but it is not always the same.

[confused_buyer]

Cheese Mechanic said:

Can I ask if you have ever been in business?

Yes, which is why I know that regardless of whether you are a sole trader, partnership or incorporated company your tax liability is an entirely separate calculation to the bottom line on your annual accounts.

[confused_buyer]

audidoody said:

Corporation tax isn't paid on net worth. Only net profit.

Edited by audidoody on Tuesday 4th August 10:49

When you calculate corporation tax you have to go back to the accounts and remove various dis-allowable expenses. You then add-in things like whatever the annual investment allowance is for that year, create/modify asset pools for different types of assets (cars, for example, are treated differently than computers) etc.

You can't simply take whatever the bottom line is and scribble it on a CT600 form and decide it is job done.

Jo Bloggs Ltd can make a £1m operating profit and spend £900,000 on a new warehouse if they like but they don't simply reduce their taxable profit to £100,000 by doing so.

[RYH64E]

confused_buyer said:

When you calculate corporation tax you have to go back to the accounts and remove various dis-allowable expenses. You then add-in things like whatever the annual investment allowance is for that year, create/modify asset pools for different types of assets (cars, for example, are treated differently than computers) etc.

You can't simply take whatever the bottom line is and scribble it on a CT600 form and decide it is job done.

Jo Bloggs Ltd can make a £1m operating profit and spend £900,000 on a new warehouse if they like but they don't simply reduce their taxable profit to £100,000 by doing so.

I don't think you can claim capital allowances for money spent on land or buildings at all, which always seems a bit harsh.

[Tonsko]

RYH64E said:

I don't think you can claim capital allowances for money spent on land or buildings at all, which always seems a bit harsh.

It might not be the same thing, but with our campsite, new services (in our case, for example electricity supply for vans) are not tax deductable, but repairs to existing ones are. IIRC. Can't remember if upgrades are allowed or not though, it was a few years ago we had the discussion. But yes, it's rotten.

[RYH64E]

Tonsko said:

It might not be the same thing, but with our campsite, new services (in our case, for example electricity supply for vans) are not tax deductable, but repairs to existing ones are. IIRC. Can't remember if upgrades are allowed or not though, it was a few years ago we had the discussion. But yes, it's rotten.

Repairs and renewals are usually claimable but they impact the P&L, where possible I like to capitalise stuff so it doesn't reduce the declared profit but you still get an allowance against tax. It only really matters if you're thinking of selling up and want your figures to look good... Similarly, if you buy a building you can't claim for the structure or land, but you can sometimes get away with claiming for fixtures like a mezannine floor, air conditioning system, etc. Depends on the interpretation of your accountant and ultimately that of any tax inspector as to whether you get away with it in the long term.

[98elise]

RYH64E said:

98elise said:

That's getting too deep into the detail. Some people seem to think Corporation tax is levied on:

1. Revenue, or
2. Gross Profit

That's including someone who claims to have run a large company.

As far as I can see Amazon pays very little in the way of CT because it doesn't have any real taxable profits.

Some companies actually make net losses for many years, especially those that are building a new business or investing in new technology.

I'm a died in the wool, right wing capitalist but even I don't believe that Amazon don't make a profit, I know that they don't declare a profit but then I know many profitable companies that don't declare a profit. I owe over £100k in CT for last year's declared profits and my accountant has suggested that it's getting to the point where it's worth looking at more proactive measures to reduce my tax bill, I don't think he is suggesting that I sell less or reduce my margins...

I'm sure that will be through legal/legitimate means, so whats the problem?

With regard to Amazon what is the benefit to shareholders of not declaring a profit?

[RYH64E]

98elise said:

I'm sure that will be through legal/legitimate means, so whats the problem?

With regard to Amazon what is the benefit to shareholders of not declaring a profit?

Amazon shareholders have nothing to complain about, the share price has risen fivefold over the last 5 years. Money not paid in tax can be reinvested for growth, shame that's not an option for all of us.

[otolith]

WestyCarl said:

No body has mentioned it, but the good news is that we are now getting 2 "TG" style shows. Should be enough to stop the moaning, or maybe not..........

I'm sure some people will sign up to Prime just so they can watch it and complain about it.

[chris watton]

otolith said:

WestyCarl said:

No body has mentioned it, but the good news is that we are now getting 2 "TG" style shows. Should be enough to stop the moaning, or maybe not..........

I'm sure some people will sign up to Prime just so they can watch it and complain about it.

You don't even need to sign up to Prime, you can rent the individual episodes for a minimal fee, and/or buy the whole series once it has finished.

[Butter Face]

Confirmed that Clarkson will host HIGNFY next month....

http://www.bbc.co.uk/news/entertainment-arts-34294...

[FiF]

Olswang have also registered the trademarks Gear Knobs which would be a good name for the show and Speedbird, female Stig?
Source Buzzfeed.


http://www.independent.co.uk/arts-entertainment/tv...