Sorry
philbky, I thought you &
Shed were talking about corporation tax. Which is why I pointed out your assertion was wrong.
Originally Posted by
Shed-on-a-Pole
On this point, keep in mind that many corporate entities announce their (taxable) profits from a London HQ address. But many of these profits are generated from economic activity in the UK regions and internationally. Is it appropriate for London to claim ownership of this tax revenue stream? It is very easy to spin the data.
Originally Posted by
philbky
my over 40 years in UK business management tells me they do not do this for the remainder of revenue through taxation such as VAT, PAYE and NI, as the cost in manpower, time and the value to the exchequer of such a breakdown is not worth the expenditure, so the bulk of revenue raised from corporate entities is attributed to the location of the reporting office.
As you say (& the IFS also say), the "cost in manpower, time and the value to the exchequer of such a breakdown is not worth the expenditure". But it cuts both ways as I live in the South but my tax office is in the North - so my tax contribution is allocated to the North.