Posted by: Brian Clarke | November 5, 2010

Vodafone

Vodafone have been in the news lately, but perhaps not the tabloids. It seems they did some tax planning, and profits have been tucked away in Luxembourg. It all saves £6bn or so in tax.

The most complete reporting on this that I’ve seen so far has been in Private Eye. There are still crucial facts missing from the reporting of the case, so we can’t make up our own minds about it just yet. But in essence what HM Revenue & Customs and Vodafone seem to have done is arrive at some kind of compromise deal. But HMRC aren’t authorised to do deals like that … Mohammed al-Fayed found that out a few years ago.

And £6bn would help a lot with the national deficit. There are some relevant facts still to come out on this.

But meanwhile people have been marching and picketing. It’s not often that tax has that effect on people. This could have a messy ending.


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