State owned banks

[observer]

It does!

[inky pete]

Which would mean that they wern't paying out obscene sums, or they were using loopholes to avoid paying it and/or the HMRC wern't doing their job.

 

No, they'd just make the same money part of basic salary - so it'd have to be paid regarless of the performance of the individual.

 

Or, they'd simply employ people through their Cayman Islands subsidiary and tax them at Cayman Islands rates (0%).

[Pedro]

I believe Dave Fishwick from Burnley has the right idea - anyone watch the fascinating first of the 'Bank of Dave' series on C4 last night ?. Gave an insight into banking culture at its worst and seemingly impossible struggle of anyone with the cheek to try and start a community bank helping local businesses with much needed finance,paying investors 5% and giving any profits to charity. Told he can't call himself a bank under any circumstances (but Sainsburys can !!) but might stand a chance with calling the business a Building Society - a pity it can't become the Burnley Building Society - became very profitable but unfortunately was absorbed by, guess who, Northern Rock

[observer]

At the moment Inky, we appear to have folk in the HMRC who are using off shore tax havens, so little chance of them pursuing the big fish. Perhaps we need a clean set of G-men to sort this out - after all, they got Al Capone for tax evasion in the end!