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Banning tax haven companies from government support will not impact Britain's tax exiles
All in this together?

Following controversy over the prospect of taxpayer funds being made available to support companies with a history of tax avoidance, there have been calls in the UK and around the world to exclude companies based in tax havens from accessing government support.

Whilst such eye-catching policies are popular, they are likely to be ineffective, according to our report published today, Paying in Equally?

Instead, our report suggests a package of reforms aimed at meeting the government’s goal of ensuring that all who benefit from state support pay in on an equal basis. 

Our report was covered in the Times, and we also had an op-ed published in the New Statesman covering some of the issues 

Photo by Edwin Hooper on Unsplash

Read the full report here
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Wars, taxes, and excess profits

Yesterday was the 75th anniversary of VE Day, remembering a war that cost the United Kingdom dearly, in both lives and money. In an article last week we looked at how government's taxed excess profits in wartime, and asked what lessons could be learnt for the tax system as we weather the current crisis.

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News roundup

Matalan, owned by John Hargreaves, is furloughing its staff. During an £84m tax dispute, Hargeaves told HMRC he had moved to Monaco and was no longer a tax resident in the UK. Hargreaves and his family have amassed a £600 million fortune, according to The Sunday Times rich list

After Burger King failed to pay its rent last month, McDonald's is now seeking a rent cut. Both fast-food giants have historically been associated with tax avoidance.

House of Fraser and Sports Direct have reportedly asked their managers to work while on furlough, in direct breach of government rules. “They are doing it secretly so people don’t know what they are doing,” one worker told the Guardian.

EA and Activision Blizzard have seen demand jump as virus lockdowns force people to stay at home. Activision Blizzard, the company behind the Call of Duty series, said an average of 407 million people had played its games online each month in the first quarter of this year. We previously reported in World of Taxcraft how Activision Blizzard shifted €5bn to companies in Bermuda and Barbados between 2013-2017.

A luxury health club in Scotland where Madonna was married in 2000 has furloughed its staff. The club, which costs £30,000 to join, has been owned by the tax-haven registered Scytherbolle Limited since 2003.

Photo by Joshua Austin on Unsplash

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