Tory Peer Bamford under HMRC investigation for £500m

[deadslow]

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[119]

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[NomduJour]

Wild to imagine that billionaire businessmen might have complicated tax affairs. Whatever next.

[TheBinarySheep]

I wonder if you can get through to someone on the helpline more quickly when you owe them £500mil? Every cloud and that.

To give them credit, they did call me twice the other day in response to a complaint I made about it taking over a year to transfer my VAT number and constantly chasing me about money I owe/interest/charges for a VAT account that I can't access because they've completely messed everything up in an attempted transfer that they decided they actually couldn't do, then setup a new VAT incorrectly.

Edited by TheBinarySheep on Wednesday 10th April 15:29

[TeaNoSugar]

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[valiant]

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[mac96]

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[Kwackersaki]

S600BSB 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.

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

Bingo again! Managed to get Brexit in there.

[119]

valiant said:

So why the earlier comment?

He earns a lot and his company makes a lot so shouldn't they pay what's owed just like the rest of us?

It hasn’t been established if he does owe anything yet.

All that’s happening is it is currently being investigated.

[119]

Kwackersaki said:

S600BSB 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.

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

Bingo again! Managed to get Brexit in there.

[sugerbear]

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[Sway]

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[mac96]

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[Getragdogleg]

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[Blue62]

DeejRC said:

I invariably find that if one is under investigation by HMRC it’s because the error/misunderstanding lies with HMRC, as opposed to an individual. Those who think otherwise, I have tended to find, are those who have more minimal dealings with HMRC.

I have tended to find that people who generally keep their affairs in order have more minimal dealings with HMRC, but that’s purely anecdotal on my part so should be taken with a pinch of salt.

I’m sure that Bamford’’s affairs are complex and its likely that he and his family get a lot of attention, so an investigation on the face of things is no big deal, but I’m surprised he’s resigned from HOL. I guess we will have to wait and see, far too early to judge.

[Baroque attacks]

How does it work with him resigning from the HoL and being a life peer, does he give that up to be just normal Tony Bamford?

[NomduJour]

No, he’s still Lord Bamford.

[Skeptisk]

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 think that the 11,000 employees contribute somewhat to the group’s success.

Having just checked the tax affairs of the group seem a bit dubious, to say the least.

[DeejRC]

Blue62 said:

DeejRC said:

I invariably find that if one is under investigation by HMRC it’s because the error/misunderstanding lies with HMRC, as opposed to an individual. Those who think otherwise, I have tended to find, are those who have more minimal dealings with HMRC.

I have tended to find that people who generally keep their affairs in order have more minimal dealings with HMRC, but that’s purely anecdotal on my part so should be taken with a pinch of salt.

I’m sure that Bamford’’s affairs are complex and its likely that he and his family get a lot of attention, so an investigation on the face of things is no big deal, but I’m surprised he’s resigned from HOL. I guess we will have to wait and see, far too early to judge.

Damn, did you manage to say that with a straight face?!!! I’m almost impressed.

[Blue62]

DeejRC said:

Damn, did you manage to say that with a straight face?!!! I’m almost impressed.

That’s a relief.