And? They haven't done anything illegal.
Whoever wrote the article knows naff all about how F1 is organised either.
To make the point that none of the teams pay any tax is irreverent. The teams are nothing to do with Mr E's empire and don't pay tax because they don't make a profit.
The truth being i cannot see peeps jumping up and down because immigrants have been given the rights to live here take our benefits and state pension, most/not all will never work and PAY NO TAX but will get everything in return and a dole chq every week for doing nowt but breathing ...
It is down to the Government to bring in legislation to ensure we are all in it together. Yet as with the smoking advertising on their packages it is those who influence you that will get their way.
Money talks, bullshit walks unless your within the circle that influences.
It's not tax dodging, because tax dodging is illegal.
It's paying extremely knowledgable accountants probably an awful lot of money to work their way round the tax laws so none are broken but the minimum amount of tax possible is paid.
If I could do it I would and I suspect you would too.
If I was to take out a loan to buy equipment that I need to do the work, I could claim the interest on that loan against tax. This is how I understand F1 does it.
The fact that the loan comes from another, legally separate, company within the same group is irrelevant but it does mean that the money all comes out of the same bucket and doesn't actually go anywhere.
It's a loophole that would be virtually impossible to close.
So if one limited company loans money to another, it's just the same as if I was to loan you some money, we are completely separate legal entities and there is no way that anyone could say that we aren't.
I'm not happy with the way tax works either and if there was a legal way of reducing what I pay I would.
Amazon does billions of pounds of trade with millions of customers in the UK. Yet Amazon tells us they don't carry out any transactions in the UK and therefore they don't need to pay any corporation tax.
Oh don't worry too much about the 40% tax bracket. Not long after you start paying that you stop paying national insurance contributions. (well it drops from 12% to 2%) The 40% bracket is not as painful as those who pay it like to make out it is.
But equally the huge Amazon warehouses scattered all around the country employ thousands of people. All these people pay their income tax, National Insurance and spend their money so are contributing by paying VAT too. I suspect that the combined contributions to the economy made by the workers at Amazon total more than Amazon would pay if they declared all their income as UK based.