Meanwhile, back at the cuckoo's nest... https://www.hulldailymail.co.uk/new...m-allam-donated-conservative-campaign-4543040
[QUOTE="Baldrick's Cunning Plan, post: Meanwhile, back at the cuckoo's nest... https://www.hulldailymail.co.uk/new...m-allam-donated-conservative-campaign[/QUOTE] If ever a man had more money than sense...................
If ever a man had more money than sense...................[/QUOTE] It's a pure and simple tax saving strategy. No political principles involved at all I would imagine. Contribute one way, perhaps vote the other way ? Bottom line happy.
It's a pure and simple tax saving strategy. No political principles involved at all I would imagine. Contribute one way, perhaps vote the other way ? Bottom line happy.[/QUOTE] How does that work? Donate say £100k. Save say £20k tax. Costs him £80k. The bloke is just bonkers.
How does that work? Donate say £100k. Save say £20k tax. Costs him £80k. The bloke is just bonkers.[/QUOTE] Come on dont let tax rules and accounting standards get in the way of a good story
How does that work? Donate say £100k. Save say £20k tax. Costs him £80k. The bloke is just bonkers.[/QUOTE] Have no idea about the intricacies of the UK tax rules ( neither individual nor corporate) , but there will be a tax advantage somewhere in the system - which the Allam's accountants will be exploiting - the word is not a negative - it's likely a legit. tax avoidance benefit - perhaps related to charitable donations. One way or another, it'll reduce the tax hit. Maybe even carried over for multi-year tax reduction benefits ? No doubt will give some sort of glory/prestige to the tax payers involved. Dropping from one tax band to a lower rate band is the most likely strategy ? Ask your tax advisor.
Have no idea about the intricacies of the UK tax rules ( neither individual nor corporate) , but there will be a tax advantage somewhere in the system - which the Allam's accountants will be exploiting - the word is not a negative - it's likely a legit. tax avoidance benefit - perhaps related to charitable donations. One way or another, it'll reduce the tax hit. Maybe even carried over for multi-year tax reduction benefits ? No doubt will give some sort of glory/prestige to the tax payers involved. Dropping from one tax band to a lower rate band is the most likely strategy ? Ask your tax advisor.[/QUOTE] I don't need to. It doesn't work like that. The net cost will always be way higher than the tax 'saving' (which isn't an overall saving as he's had to spend more in the first place). The bloke is bonkers .... as is this line that's so often spun that they are only doing it to save tax; it's non-sense!
I don't need to. It doesn't work like that. The net cost will always be way higher than the tax 'saving' (which isn't an overall saving as he's had to spend more in the first place). The bloke is bonkers .... as is this line that's so often spun that they are only doing it to save tax; it's non-sense![/QUOTE] Where's the prestige and glory ? If it wasn't for the HDM splashing the story all over the front page no-one would have known about this. They did the same with one of the Healy brothers last week. One of them made a substantial donation to the tories at the last election and th HDM slashed it all over the front pages. They even suggested that Boris stayed on the same island in the WI where one of the Healys had property. If the person donating wanted 'prestige and glory' for donating to a political party do you think they'd wait for the provincial HDM to break the story ?
The Allams may well have fantastic accountants, but the long and short of it is quite simple, donations to political parties are not tax deductible as far as I am aware.
