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| Profit for the people who employ them isn't value. If they save their employer £1'000'000 in taxes that's obviously a massive gain for them, but that gain comes at the public's cost. For society this is a zero-sum game. No value got produced, it's just a transfer (or lack thereof, if for instance taxes were avoided).
Very much the same applies to most of the financial sector's forms of trading. | |
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If they make £50,000,000 profit for the Bank, the bank pays them £5,000,000, the employee pays roughly £2,250,000 in income tax & the company pays £8,550,000 Corporation tax. Any dividends paid out will likely have further taxation on shareholders depending on their individual situation. National insurance is also paid by the employer & employee
Thats a total £10,800,000 the government gets in tax, which is a MASSIVE benefit to the public.
I don't understand how the company could save any tax, could you explain?