The Brexit referendum thread: potential consequences for GB, EU and the Brits in CH - Page 658

#**13141** 29.08.2018, 11:41

	Quote:	fatmanfilms
	I can't think of any British companies doing this on any major scale, Mainly US companies such as Apple, Amazon & Google. As Mr Trump has fixed the problem by reducing US tax rates, it's old news & not very relevant as Ireland & Luxembourg benefited the most & will remain in the EU.

Moggy Moggy Moggy, oi oi oi.

fatmanfilms · #**13142** 29.08.2018, 11:46

	Quote:
	Moggy Moggy Moggy, oi oi oi.

Holding money offshore does not make any difference to the personal tax liability to a UK resident, not for income tax, CGT or Inheritance tax. The £ was not freely convertible until Margret Thatcher abolished Exchange controls in 1979, a far more important reason to hold non UK assets.

#**13143** 29.08.2018, 11:49

	Quote:	fatmanfilms
	Holding money offshore does not make any difference to the personal tax liability to a UK resident, not for income tax, CGT or Inheritance tax.

Why are you moving the goalposts from company finance to personal?

fatmanfilms · #**13144** 29.08.2018, 11:56

	Quote:
	Why are you moving the goalposts from company finance to personal?

I was not, read the quote I was replying to. 'Moggy Moggy Moggy, oi oi oi.'
Or was he referring to the Morris Motor Company?

#**13145** 29.08.2018, 12:00

	Quote:	fatmanfilms
	I was not, read the quote I was replying to. 'Moggy Moggy Moggy, oi oi oi.' Or was he referring to the Morris Motor Company?

He? What? Sigh.

fatmanfilms · #**13146** 29.08.2018, 12:05

	Quote:
	He? What? Sigh.

Since when was Rees-Mogg a company & not an individual. Therefore it was you who moved the goal posts not me.

#**13147** 29.08.2018, 12:13

	Quote:	fatmanfilms
	Since when was Rees-Mogg a company & not an individual. Therefore it was you who moved the goal posts not me.

Double sigh. Use the tiniest modicum of deductive reasoning, bitte.

marton · #**13148** 29.08.2018, 14:28

	Quote:
	BREXIT DELAYED: UK and EU drop October deadline for deal - EU exit schedule WON’T be met

Source

Just gets worse!

fatmanfilms · #**13149** 29.08.2018, 14:47

	Quote:	marton
	Source Just gets worse!

Aston Martin believes no deal will be good for the car industry.
https://uk.finance.yahoo.com/news/br...105214153.html

#**13150** 29.08.2018, 14:57

	Quote:	fatmanfilms
	Aston Martin believes no deal will be good for the car industry. https://uk.finance.yahoo.com/news/br...105214153.html

	Quote:
	He said: "If a tariff barrier went in place it would even itself out, and we would probably benefit from a weaker pound.

I thought the Brexiteers were adamant that the pound would not weaken?

marton · #**13151** 29.08.2018, 15:07

	Quote:	fatmanfilms
	Aston Martin believes no deal will be good for the car industry. https://uk.finance.yahoo.com/news/br...105214153.html

Also said "He added that the car maker was increasing its stock of engines in case there are any issues after Brexit".

Somehow contradictory?

fatmanfilms · #**13152** 29.08.2018, 15:08

	Quote:
	I thought the Brexiteers were adamant that the pound would not weaken?

I don't think anyone is bothered by the value of the £, you hold assets if wealth preservation is your goal. If people were bothered then nterest rates would rise until the currency was at the desired level. Currently interest rates are 2% below the rate of inflation......., so your being paid 2% to borrow money.

#**13153** 29.08.2018, 15:13

	Quote:	fatmanfilms
	I don't think anyone is bothered by the value of the £, you hold assets if wealth preservation is your goal. If people were bothered then nterest rates would rise until the currency was at the desired level. Currently interest rates are 2% below the rate of inflation......., so your being paid 2% to borrow money.

Yeah but that's nothing to do with what your man at Aston Martin was saying. Presumably to him, he IS bothered by the value of the pound otherwise he wouldn't have said...

	Quote:
	He said: "If a tariff barrier went in place it would even itself out, and we would probably benefit from a weaker pound.

Strong pound and his business is on the back foot, right?

fatmanfilms · #**13154** 29.08.2018, 15:57

	Quote:
	Yeah but that's nothing to do with what your man at Aston Martin was saying. Presumably to him, he IS bothered by the value of the pound otherwise he wouldn't have said... Strong pound and his business is on the back foot, right?

Most business's will benefit from a weaker pound as profits will be higher in pounds & the share price will rise accordingly. SNB has spent billions trying to devalue the CHF, although it has been more successful recently.

Urs Max · #**13155** 29.08.2018, 16:04

	Quote:	fatmanfilms
	Aston Martin believes no deal will be good for the car industry. https://uk.finance.yahoo.com/news/br...105214153.html

"If a tariff barrier went in place it would even itself out, and we would probably benefit from a weaker pound."

That's exactly the situation since the vote:
net zero tariffs coupled with a weaker pound.

So how has the UK's car industry been doing the last two years?

fatmanfilms · #**13156** 29.08.2018, 16:05

	Quote:	Urs Max
	"If a tariff barrier went in place it would even itself out, and we would probably benefit from a weaker pound." That's exactly the situation since the vote. How has the UK's car industry been doing?

There have been no tariffs applied as yet so your definition of 'exactly' is somewhat different from mine.
Remember VW/AUDI group sell more cars to the UK than to the USA & Japan combined, not bad for a little island.

#**13157** 29.08.2018, 16:10

	Quote:	fatmanfilms
	There have been no tariffs applied as yet so your definition of 'exactly' is somewhat different from mine. Remember VW/AUDI group sell more cars to the UK than to the USA & Japan combined, not bad for a little island.

How will that work out with a weaker pound?

Maybe there'll be a glut of astonishingly cheap, post Brexit Aston Martins up for grabs so every cloud, and all that...

Urs Max · #**13158** 29.08.2018, 16:11

Zero tariffs on either side now equals net zero tariffs, the same result Palmer expects when he says that those from a no-deal Brexit would "even itself out".

Inded the same net situation.

#**13159** 29.08.2018, 16:13

A nice analogy for the enthusiasm for Brexit...

https://www.theguardian.com/politics...-royal-academy

fatmanfilms · #**13160** 29.08.2018, 16:17

	Quote:
	How will that work out with a weaker pound? Maybe there'll be a glut of astonishingly cheap, post Brexit Aston Martins up for grabs so every cloud, and all that...

Audi will lose a lot of money as they currently sell for what the market will bear. Tarrif's & currency loss will be paid almost entirely by VW/Audi if they wish to maintain their sales.

Car prices have not increased by 20% to compensate for losses in the £ value since the BREXIT vote......

Shop prices have bee falling for over 5 years & rising 0.1% last month for the first time since April 2013.
https://www.theguardian.com/business...han-five-years