SMILING CARCASS'S TWO-PENNETH

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Another Tory ‘bait-and-switch’ scam – shares-for-rights scheme is employers’ tax dodge

with 2 comments

Osborne’s latest con-trick worries me because I fear that employers will be given the right to force a rights-for-shares extravaganza if a majority of employees agree; we all know how coercive employers can be, with threats of lay-offs if you don’t “take a pay cut”; “increase your hours” or “sell your soul for worthless shares”.

“This government is taking action domestically on [tax] avoidance and evasion,” wrote George Osborne in an article for The Observer, back in February. How right he was.

The Tory-led Coalition has done everything in its power to facilitate tax avoidance and ignore evasion, it seems, including the latest wheeze, which is to link it with a feeble attempt to get working people to throw away their rights in exchange for a few shares.

The BBC has reported that the new status of “employee shareholder” has come into force, allowing working people to claim shares in the company that employs them, if they give up the rights to claim unfair dismissal and statutory redundancy pay, the right to request flexible working (except in the case of two weeks’ parental leave), and some rights to request time off for training.

Nobody in their right mind would do this and expert opinion is that take-up will be small. So why do it?

Well, it’s not about the workers at all. It’s about helping company bosses avoid paying their taxes. Even the right-wing-leaning BBC was unable to cover up the facts (although it left them until the end of the article):

“Companies can also claim some corporation tax deductions on the issuance of shares to employees.”

Yes – it’s a tax dodge!

Reblogged from Another Tory ‘bait-and-switch’ scam – shares-for-rights scheme is employers’ tax dodge. 428 words.

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Written by Smiling Carcass

02/09/2013 at 1:23 AM

2 Responses

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  1. BRITISH GOVERNMENT APPOINTS PRIVATE INSURANCE COMPANY UNUM IN ORDER TO DESTROY WELFARE SYSTEM
    http://blacktrianglecampaign.org/2011/09/07/new-labour-the-market-state-and-the-end-of-welfare/

    peter777

    16/09/2013 at 2:52 PM


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