Ken Livingstone has been a little excoriating about bankers and other rich people avoiding what he thinks should be their taxes:
THESE rich bastards just don’t get it…No one should be allowed to vote in a British election, let alone sit in our Parliament, unless they are paying their full share of tax.
But the Telegraph has been digging into the accounts of Ken Livingstone’s and his wife, Emma Beal’s, personal company, and it turns out that in 2009 the Company Silveta Ltd earned £232,000
Very interesting, Professor Moriaty.
In the UK the top 1% by income starts at about £149,000 per annum as of year 2007-2008, according to HMRC figures, which places Ken Livingstone firmly in that group – even allowing for a lot of expenses.
There’s even a quote from Sir Richard of Murphalot on possible tax avoidance:
Richard Murphy, an accountant and expert in tax avoidance, said: “Mr Livingstone chose not to pay out this profit to himself and his partner and, as such, the profits would only have been subject to corporation tax at 21 or 20 per cent in the company. Higher taxes would very likely have been paid on this income if it had been paid to the shareholders in 2009.”
At the Raccoon Arms, we don’t have a view on this sort of tax avoidance – personally I think it is quite reasonable. But we very much enjoy hypocrites getting their comeuppance.