Ken Livingstone denies tax evasion allegations...
By Rebecca Burn-Callander, managementtoday.co.uk, Monday, 12 March 2012 09:30AM
Quote of the day: 'I am not offshore. I am running a small company, just like hundreds of thousands of people. It's a smear campaign currently being run.' Mayoral candidate Ken Livingstone has had a rather irksome weekend. A national newspaper has revealed that his earnings (from broadcasting, speaking engagements etc) are funneled into a holding company, Silveta. This effectively bypasses the 59% income tax rate, plumping for 20% corporation tax instead. Livingstone has been left red-faced over the fiasco, given his former comments on taxation: '[We should] sweep away tax scams and everybody should pay tax at the same rate on earnings and other income.'
And Red Ken's defence? To tar rival Boris Johnson with the same brush, of course: 'The simple fact is, and the hypocrisy of all this, is Boris Johnson has exactly the same arrangements to handle his earnings from television. Almost everybody in the media, who is not employed directly, has exactly the same arrangements,' he blustered.
This article was first published on managementtoday.co.uk
- Social Media Manager/Director Pitch Consultants £Highly competitive + benefits, Leicestershire
- Senior Online Trading/Commercial Manager Pitch Consultants £Highly competitive + benefits, Leicestershire
- Video Sales Account Manager Salt £35 - £45 per annum + Com, City of London
- Senior Planner Buyer Dot-Gap £35k, London (Central), London (Greater)
- Assistant Brand Manager Ball & Hoolahan £28,000 per annum, South East England
- Google's European leader says viewing habits are 'changing dramatically'
- Martin Sorrell talks Maurice Lévy, Tesco, and the global outlook
- Tesco media review pits Initiative against MediaCom and ZenithOptimedia
- Land Rover to move global ad account into Spark44
- Viacom to bring Breaking Bad to Freeview with Spike launch
- 'Advertisers are snake oil salesmen', says Peter Oborne