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Eldorado

UK's richest Brexiteer to quit Britain

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Eldorado

"Britain’s wealthiest man is allegedly planning to relocate his home and his money to Monaco in an attempt to reduce his tax bill by £4bn.

According to the Sunday Times, Sir Jim Ratcliffe, who is a prominent Brexiteer, has been working with international accountancy firm Pricewaterhouse Coopers (PwC) to help with the tax plan."

Full report at iNews: https://inews.co.uk/news/britains-richest-man-jim-ratcliffe-ineos-tax-plan/

"Britain’s richest man, Sir Jim Ratcliffe, who was knighted less than a year ago for his services to business and investment, has been planning to avoid up to £4bn in tax after switching his home and his fortune to Monaco.

The Sunday Times can disclose that the prominent Brexiteer, who built up the chemicals giant Ineos, has been working with the accountant PwC on the tax avoidance plan. "

Sunday Times Paywalled original article: https://www.thetimes.co.uk/article/sir-jim-ratcliffe-the-uks-richest-man-quits-country-to-save-billions-35x6jphxn

We're all in it together!  lol

Edited by Eldorado
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stevewinn

like arch remainer Richard Branson. Domiciled outside of the UK.

This chemical giant Ineos, i thought i came across this in recent days. ive just found it, yes, at the time i did wonder if the Remain media would go after it, after it sent a letter to the EU. stating "Nobody but nobody in my business seriously invests in Europe" 

just shows what the remain media are like, Sir Jim Ratcliffe takes a swipe at the EU and a few days later, their dragging his name through the mud, with a story which in the papers own words "Britain’s wealthiest man is allegedly planning to relocate his home and his money to Monaco

https://www.ineos.com/news/ineos-group/letter-to-the-european-commission-president-jean-claude-juncker/

 

 

 

Edited by stevewinn
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Gromdor

I guess it's nice to be rich enough to have options if Brexit doesn't work out.

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RoofGardener

Yeah, and he  explicitly stated that his decision to run to a tax haven was down to Brexit. 

Oh wait... no... he wanted to save money on his taxes, it appears ? 

So TOTALLY unrelated to Brexit. He's not even moving his UK BUSINESS headquarters out of the UK. But that won't stop the BBC from trying to make a link. 

Edited by RoofGardener
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Eldorado
23 hours ago, RoofGardener said:

Yeah, and he  explicitly stated that his decision to run to a tax haven was down to Brexit. 

Oh wait... no... he wanted to save money on his taxes, it appears ? 

So TOTALLY unrelated to Brexit. He's not even moving his UK BUSINESS headquarters out of the UK. But that won't stop the BBC from trying to make a link. 

It's the Sunday Times who are saying he's a hypocrite.

"The Sunday Times can disclose that the prominent Brexiteer, who built up the chemicals giant Ineos, has been working with the accountant PwC on the tax avoidance plan."

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RoofGardener
19 hours ago, Eldorado said:

It's the Sunday Times who are saying he's a hypocrite.

"The Sunday Times can disclose that the prominent Brexiteer, who built up the chemicals giant Ineos, has been working with the accountant PwC on the tax avoidance plan."

Ooops..my mistake. There WAS a BBC article, but it was in their "round up of the press" section, citing the Sunday Times. 

Now, in regard to that Sunday Times story, can  ANYONE explain why his stance on Brexit has ANYTHING to do with his personal tax avoidance plans ? That being the case, why did they describe him as "..the prominent Brexiteer" ? The ONLY answer I can find is that they want to discredit him in some way, and discredit Brexit at the same time. 

 

 

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Captain Risky
On 18/02/2019 at 2:44 AM, RoofGardener said:

Yeah, and he  explicitly stated that his decision to run to a tax haven was down to Brexit. 

Oh wait... no... he wanted to save money on his taxes, it appears ? 

So TOTALLY unrelated to Brexit. He's not even moving his UK BUSINESS headquarters out of the UK. But that won't stop the BBC from trying to make a link. 

Whats the difference? He’s leaving to not pay 4 billion in tax. Just as I’ve always said... rich people don’t have a nationality just a lot of passports.

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OverSword
On ‎2‎/‎18‎/‎2019 at 8:09 AM, Eldorado said:

It's the Sunday Times who are saying he's a hypocrite.

"The Sunday Times can disclose that the prominent Brexiteer, who built up the chemicals giant Ineos, has been working with the accountant PwC on the tax avoidance plan."

But it seems that's for his own income not his companies so the relation to Brexit is nullified.  Who wouldn't want to save 4 billion pounds?

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Eldorado
1 minute ago, OverSword said:

But it seems that's for his own income not his companies so the relation to Brexit is nullified.  Who wouldn't want to save 4 billion pounds?

He was apparently vocal about Britain quitting Europe while he himself was quitting Britain for the south of France.

You can't see how that might make him look a BSer or dirty sly old B?

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OverSword
54 minutes ago, Eldorado said:

He was apparently vocal about Britain quitting Europe while he himself was quitting Britain for the south of France.

You can't see how that might make him look a BSer or dirty sly old B?

How dare you accuse the richest Englishman of such slander! ;)

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Ozymandias

The self-employed and PAYE workers of Britain pay tax on a pro-rata basis in accordance with their capacity to earn. They fund and keep the country running. For one thing they can't play the tax avoidance game.

For another they are not rich enough to be financially insulated from the consequences of Brexit. Wealthy Brexiteers will always make money.

Puts into perspective really Ratcliffe's desire to become an expat in order to reduce his personal tax-bill to HMG. 

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Emma_Acid
14 hours ago, OverSword said:

But it seems that's for his own income not his companies so the relation to Brexit is nullified.  Who wouldn't want to save 4 billion pounds?

If that's his tax bill, one would assume he could afford it. It becomes an issue when he tries to position Brexit as a good thing for the country, but then denies us £4bn of tax that could go into the economy. It's staggeringly hypocritical, doesn't matter what the reasons for leaving are.

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OverSword
4 hours ago, Emma_Acid said:

If that's his tax bill, one would assume he could afford it. It becomes an issue when he tries to position Brexit as a good thing for the country, but then denies us £4bn of tax that could go into the economy. It's staggeringly hypocritical, doesn't matter what the reasons for leaving are.

What does his income tax have to do with English sovereignty in their own land? He’s doing what wealthy people have been doing time out of mind. If you think you would not consider doing exactly that were you wealthy enough to do so you’re lying to yourself. What we have here is remoaner propaganda trying to create an anti brexit narrative.

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Eldorado
19 minutes ago, OverSword said:

What does his income tax have to do with English sovereignty in their own land? He’s doing what wealthy people have been doing time out of mind. If you think you would not consider doing exactly that were you wealthy enough to do so you’re lying to yourself. What we have here is remoaner propaganda trying to create an anti brexit narrative.

He was telling people Britain should quit Europe while himself quitting Britain for Europe.

He's a self-serving BSer.  (Like most wealthy people, as you say)

Edited by Eldorado

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RoofGardener
2 minutes ago, Eldorado said:

He was telling people Britain should quit Europe while himself quitting Britain for Europe.

He's a self-serving hypocrite.  (Like most wealthy people, as you say)

He has NEVER sponsored quitting "Europe"... he's sponsored quitting the European Union. 

And Monaco - where Mr Ratcliffe is supposedly setting up domicile - is NOT a member of the European Union.

So, no hypocrisy involved.

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Eldorado
1 minute ago, RoofGardener said:

He has NEVER sponsored quitting "Europe"... he's sponsored quitting the European Union. 

And Monaco - where Mr Ratcliffe is supposedly setting up domicile - is NOT a member of the European Union.

So, no hypocrisy involved.

There certainly is, but I've edited my post to use a more suitable word instead.

He's a BSer.

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RAyMO

It is hypocritical - He argued for removing the UK from the EU on the basis that it will do brilliant things outside of Europe - then cleared off before brexit happens because he knows there will a tax hike to make up for the lost revenue that the UK will in reality experience under Brexit. 

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OverSword
29 minutes ago, RAyMO said:

It is hypocritical - He argued for removing the UK from the EU on the basis that it will do brilliant things outside of Europe - then cleared off before brexit happens because he knows there will a tax hike to make up for the lost revenue that the UK will in reality experience under Brexit. 

It's not hypocritical.  When did he say what may be good for England would necessarily be good for him?  And it is good for England.  Got yourselves out of the fourth reich, you did.

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and then
21 minutes ago, OverSword said:

It's not hypocritical.  When did he say what may be good for England would necessarily be good for him?  And it is good for England.  Got yourselves out of the fourth reich, you did.

That's the way I feel about it too.  The rich have never and will never pay more than they HAVE to pay, just like most other people would act in a similar situation but getting out of the EU tangle is about freedom from tyranny, IMO.

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RoofGardener
2 hours ago, RAyMO said:

It is hypocritical - He argued for removing the UK from the EU on the basis that it will do brilliant things outside of Europe - then cleared off before brexit happens because he knows there will a tax hike to make up for the lost revenue that the UK will in reality experience under Brexit. 

Ahhh... my apologies RAyMO. I'd forgotten that you could read peoples minds, and hence know EXACTLY what his motivations where :) 

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keithisco

He has also announced:

Quote

 

Britain's richest man, Jim Ratcliffe, has announced £1bn worth of investments in the UK oil and chemical industries.

Mr Ratcliffe's company, Ineos, will spend £500m on overhauling the Forties pipeline system, which transports 40% of the UK's North Sea oil and gas.

It will also build a £350m energy plant at Scotland's Grangemouth oil refinery site, which it already owns, as well as a £150m chemicals plant in Hull.

 

Source:

Putting his money and faith in the UK economy

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stevewinn
On 27/02/2019 at 6:05 PM, keithisco said:

He has also announced:

Source:

Putting his money and faith in the UK economy,

plus through his investment and ventures employs 80,000 people. with the average salary being £48,000.

Its that good old British trait, knock, undermine those that provide highend careers and employment.

and what's worse the criticism comes from people who've never created a company or even created a single job. mind boggling.

 

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spartan max2

People moving to places with less taxes is a trend everywhere.

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