The Times go for Hodge !

Labour chief given £1.5m shares from tax haven

Labour’s fiercest critic of tax avoidance and “secretive” offshore funds has received more than £1.5 million in shares from the tax haven of Liechtenstein. The money came through a controversial scheme that lets wealthy Britons move undeclared assets back to the UK without facing criminal action.

http://www.thetimes.co.uk/tto/news/politics/article4425622.ece

Spotted for us by Samson

5 thoughts on “The Times go for Hodge !

  1. “Ms Hodge, Labour’s candidate for Barking and Dagenham in east London, said that she had “no role in setting it [LSF] up or running it, and was not a beneficiary of the foundation until 2011, when the shares were brought onshore via the Liechtenstein Disclosure Facility, ending the structure my relatives created. At that point I then inherited additional UK shares in Stemcor. I was of course aware of this transfer and the increase in my shareholding.
    “As a shareholder I have on a number of occasions sought and received assurances from the executive that the company always paid the appropriate tax. All I could do as a shareholder in a company not run by me, and over which I had no influence or control, was to ensure that any shares I held were above board and that I paid all relevant taxes in full. Every time I received any benefit from the company this happened.”
    Ms Hodge said the LSF had been set up in 1970 by her “extended family: Jewish refugees who fled Austria and Germany for France and the United States”. Her immediate family, including her German-born father, moved from Cairo to Britain in 1948.
    Dividends paid by Stemcor from 1995 until the Link Steel Foundation was wound up in 2011 would have totalled £1,418,166.56, of which Ms Hodge’s share would have been £283,633.31. A tax expert consulted by The Times said that in the 1990s it was common for dividend income to be paid offshore, in some cases to an account in another jurisdiction — to minimise tax. It is not known whether this was the case with Ms Hodge’s family foundation. From 1995-2011 dividend tax amounted to about 25 per cent in Britain.”

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  2. For the low down on the tax avoidance shenanigans of the wealthy read: “The Great Tax Robbery” by Richard Brooks. It is a real eye opener. They are all at it including premier league players who if non dom. need not pay a penny.
    “Tax is for the ordinary people”

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    • Yes, Brooks – a writer for Private Rye is excellent.
      With Non-dom status, it is not as much that football players from overseas – whose stay in UK is usually limited to just a few years – can avoid UK tax, if they are paid offshore; it is that the status can be inherited from parents by people who have lived in UK all their life. It is however an status that doesn’t exist in any other country, there is no justification for it, and does need to go.

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