Click above for what became the consented plan, plus Transport page.


Financial Times: Topshop at Brent Cross says "Welcome Home"

Daily Mail:
"Sir Philip Green is the multi-billionaire 'King of the High Street' who commutes to work by private jet from the tax haven of Monaco.

"And his tax affairs were brought into the spotlight in 2010 when he was appointed by David Cameron as a government spending tsar charged with finding Whitehall savings.

"Sir Philip, who left school at 15 to go into business, lives in London hotels during the week.

"But his business empire is mostly owned in the name of his wife Tina (pictured together above), who lives in the tax haven, where Sir Philip spends his weekends. The couple moved there in 1998.

"In the past, he has joked that the vast sums paid into his wife's bank account are 'housekeeping money'.

"This set-up will have saved himself £125million in tax, experts have claimed.

"He remains a UK taxpayer because he spends more than 90 days a year here running his businesses but he ensured that when he bought Bhs in 2000 and Arcadia in 2002, the transactions were in his wife's name.

"Mrs Green has long been Monaco based with their children Brandon and Chloe, meaning she escapes the tax rules for citizens living in the UK.

"There is nothing illegal in the set-up but he arrangement is thought to have saved the couple tens of millions of pounds in tax over the years. He famously paid his family a £1.2billion dividend in 2005. Lady Tina was able to receive the dividend tax-free because she is an official resident of Monaco.

"Asked about his wife's tax status he replied: 'My wife's not a tax exile - my family do not live in the United Kingdom, it's somewhat different.'

"And questioned over whether Britain would benefit from owners of British businesses paying all their taxes in the country, Sir Philip added: 'We do pay all our tax in Britain, I think we have paid over the last five years some £300-400 million in taxes on profits that have been made on our company.

" 'I'm a UK taxpayer, I work here every week, we employ 45,000 people in the UK and we have got a £500 million payroll.'

Read more: http://www.dailymail.co.uk/news/article-2243875/Topshop-tycoon-Sir-Philip-Green-enjoys-500MILLION-payday-selling-25-stake-High-Street-fashion-chain.html

No comments:

Post a Comment