Tory Peer Bamford under HMRC investigation for £500m

[sugerbear]

This one has flown under the radar.

Lord Bamford (of JCB fame) has had to resign.. oops i meant retire from the house of lords as, totally unrelated of course, he is under investigation by HMRC for £500m of unpaid tax. Which is nice.

Tory donor, brexit supporter, (alleged) tax dodger.

I expect there will be fifty pages of outrage now.

[rohrl]

Kind of knocks the possibility that Angela Rayner might owe less than £3000 into a cocked hat doesn’t it?

[Gecko1978]

She will resign too right what with being investigated and all. An I mean as an MP not just the whip. Like this Chao has.....all tongue in cheek of course

[TGCOTF-dewey]

At least he's well prepared to dig himself out the hole he finds himself in.

[Hammersia]

In answer to the OP I'm pretty sure Raynor is finished and will be gone before the end of the week.

[Getragdogleg]

TGCOTF-dewey said:

At least he's well prepared to dig himself out the hole he finds himself in.

In fairness he may just have fallen foul of hmrc and their amazing ability to think they are owed money.

Hmrc coming after you doesn't necessarily mean you do owe why they are claiming.

Tin foil hat on :

He's high profile and on the unfashionable team, sowing doubt as to his integrity is great pr and helps the current narrative.

[mac96]

While I don't agree with his politics it's worth bearing in mind what this man has achieved. He is not some characture parasite Tory peer.
His father created JCB from nothing; Lord Bamford made it the multinational success it is today.
We need more people like him so I really hope HMRC know what they are doing.

[Baroque attacks]

He’s not cut back just yet, his helicopter keeps buzzing my house

[Earthdweller]

It all seems a bit muddy waters

From what I can see, from a guardian article, this relates to when he owned shares

HMRC are saying that if he owned them since the 1990’s and not from when he said he inherited them in the 2010’s from his father then there could be a large tax bill

But the article is vague and def doesn’t say he did just that HMRC are investigating whether might have, lots of ifs,could have, possibly, maybes

One for tax accountants and probate lawyers probably

[sugerbear]

mac96 said:

While I don't agree with his politics it's worth bearing in mind what this man has achieved. He is not some characture parasite Tory peer.
His father created JCB from nothing; Lord Bamford made it the multinational success it is today.
We need more people like him so I really hope HMRC know what they are doing.

The ends don't justify the means.

[mikeiow]

HMRC are, frequently, useless bds who appear to have multiple departments who never speak and habitually chase people without reason.
I speak as someone whose accountant had them tell him everything was sorted on a very minor matter, yet they continue to badger me with letters.
He now has a formal complaint raised, but it has been months.

I’m of the view the Lord is most likely innocent here….

[Hammersia]

As I understand it the investigation has been going on for three years and there's been no recent significant events concerning it.

So, er, not news then. Looks like a whatabout deflection from the genuine Raynor catastrophe.

[J4CKO]

I think sometimes with these kind of stories, a lot want to see him suffer as because A, he is a tory, and B, he is very, very rich. He must be in the wrong, and even if he isnt, fk him for being rich because im not kind of thing.

Really, need the actual facts, sounds like there may be a perfectly reasonable explanation other than he is another greedy tory donating rich bd.

There is what is true, and what people want to be true and take from an article, sometimes glossing over the bits that dont fit for them.

[mac96]

sugerbear said:

mac96 said:

While I don't agree with his politics it's worth bearing in mind what this man has achieved. He is not some characture parasite Tory peer.
His father created JCB from nothing; Lord Bamford made it the multinational success it is today.
We need more people like him so I really hope HMRC know what they are doing.

The ends don't justify the means.

I am not saying he gets a free pass to break the law, just pointing out that his positive economic contribution is likely to be more than anyone here. Doesn't make him right on everything.

[Tankrizzo]

Odd story this. Nothing seems to have come of it since last year, Guardian uncharacteristically quiet after publishing it, not even a follow-up.

My thoughts are the same towards this as Rayner, if he's done something wrong then chuck the book at him, until then, move on.

[Hammersia]

Tankrizzo said:

Odd story this. Nothing seems to have come of it since last year, Guardian uncharacteristically quiet after publishing it, not even a follow-up.

My thoughts are the same towards this as Rayner, if he's done something wrong then chuck the book at him, until then, move on.

It's not a current story, OP was one of the staunch Raynor defenders in that thread, hence this desperate Hail Mary post.

[sugerbear]

Hammersia said:

Tankrizzo said:

Odd story this. Nothing seems to have come of it since last year, Guardian uncharacteristically quiet after publishing it, not even a follow-up.

My thoughts are the same towards this as Rayner, if he's done something wrong then chuck the book at him, until then, move on.

It's not a current story, OP was one of the staunch Raynor defenders in that thread, hence this desperate Hail Mary post.

So no need to resign until conviction? Is that how it works?

[williamp]

"78 year old man retires" doesnt have the same headline somehow, does it.

And theis feelsmlike the politics of envy. Something which, sadly were going to hear a lot more about in the next few years. Successful, grew his comoany, owns 2 Ferrari 250 GTO. He must be disgraced, somehow...

[Newc]

HMRC are of course renowned for always being correct on their interpretation of complex situations, and their calculations of any tax owing.

Which is why they never lose when a taxpayer takes them to tribunal / court.

[S600BSB]

mac96 said:

While I don't agree with his politics it's worth bearing in mind what this man has achieved. He is not some characture parasite Tory peer.
His father created JCB from nothing; Lord Bamford made it the multinational success it is today.
We need more people like him so I really hope HMRC know what they are doing.

I wouldn’t use the term parasite, but he was a significant Brexit backer - so probably worse.