HSBC and Barclay’s avoid almost £3bn Income Tax in 2012

Following on from my earlier research into Barclay’s and HSBC avoiding unitary taxation, further excellent research conducted by me shows that they have avoided other forms of taxation which have exactly the same legal and moral value as unitary taxation.

On the basis of the rules of Monopoly being in effect for all of 2012, I have estimated that Barclay’s would have landed on Income Tax approximately 6 million times and HSBC 8.5 million times.

This gives a total Income Tax liability of £2.9bn. Their accounts show no such payment so they have avoided this entire amount.

In addition to this amount, it is thought that they also owe about £1.5bn in Super Tax.

Over five years these combined revenues would be enough to build the high speed rail link to Narnia.

In other factually correct but unfortunately fictitious tax avoidance news, I have calculated Richard Murphy’s Annual Bullshit Levy for 2012/13 at £85bn.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s