Flybmi airline blames ‘Brexit uncertainty’ as it cancels operations and files for administration
Flybmi has become the latest airline casualty, leaving thousands of passengers stranded and many more with now-worthless advance reservations. The loss-making carrier, based at East Midlands airport, said that it has ceased operations and is filing for administration. A spokesperson for Flybmi said: “It is with a heavy heart that we have made this unavoidable announcement today. The airline has faced several difficulties, including recent spikes in fuel and carbon costs. "These issues have undermined efforts to move the airline into profit. Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe.
It is a bit like conspiracy theories in relation to poker. EITHER 1. "Our business has failed due to poor management" OR 2. "It's because of Brexit"
Managers/owners unsurprisingly opt for number 2.
It will be a standard response for any business that fails/seeks to drive down wages etc for the next 5 years at least.
Brexit will cause very real problems for business in the UK. Some businesses, however well-run, will fail because of it. But nowhere near as many as will claim that is the reason.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
An unusual man-what might be termed a curate's egg.
His avowed "young company" does not sound quite so young when it is realised that it includes the old BP Chemicals/major parts of ICI. Grangemouth provided some, er, fun for a while.
He has always had substantial interests abroad-Ineos is as much Swiss as British, and there are major French/Chinese operations, and have been way before the Referendum.
"Labyrinthine tax plan"? People who are £multi-billionaires always have them-as would everyone who didn't want to pay £10billion in Inheritance tax, and leave it to their family instead. It's not like he hasn't already paid a great deal. Him moving for tax purposes has nothing to do with Brexit
Flybmi airline blames ‘Brexit uncertainty’ as it cancels operations and files for administration
Flybmi has become the latest airline casualty, leaving thousands of passengers stranded and many more with now-worthless advance reservations. The loss-making carrier, based at East Midlands airport, said that it has ceased operations and is filing for administration. A spokesperson for Flybmi said: “It is with a heavy heart that we have made this unavoidable announcement today. The airline has faced several difficulties, including recent spikes in fuel and carbon costs. "These issues have undermined efforts to move the airline into profit. Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe.
It is a bit like conspiracy theories in relation to poker. EITHER 1. "Our business has failed due to poor management" OR 2. "It's because of Brexit"
Managers/owners unsurprisingly opt for number 2.
It will be a standard response for any business that fails/seeks to drive down wages etc for the next 5 years at least.
Brexit will cause very real problems for business in the UK. Some businesses, however well-run, will fail because of it. But nowhere near as many as will claim that is the reason.
Yes, pretty standard to blame whatever is around at the time when a company fails.
In this particular case, Brexit certainly contributed to their downfall. How much, it's hard to say, but certainly it was a significant contributor.
Right , its a bit early for a serious question , but I will leave you this one before I go out walking for the day .....How do you think Brexit will negatively affect you personally ?
How will it affect me personally? Not a great deal, other than house prices have collapsed How will it affect my kids? Quite a lot.
When I was my kids' age, I lived in an England where people had careers, home ownership was attainable, and education was free. Anyone see the same future now?
The UK has been closely financially entwined with its largest trading partner for 45 years. We are now not only leaving, we have no concrete plan as to what we are going to do next, and we are leaving UK businesses totally in the dark, and thus unable to plan for their future.
We chose to leave a trading bloc without a clue as to what we are going to do next, and that risks my childrens' future. People who (at the time) were not allowed to vote, being 15 and 16 then. Whose future is being damaged by people who are not affected in the same way, ie my age and older.
The world is becoming a smaller place, due to technology. And we have just reverted to being an island again. Without a plan.
Flybmi airline blames ‘Brexit uncertainty’ as it cancels operations and files for administration
Flybmi has become the latest airline casualty, leaving thousands of passengers stranded and many more with now-worthless advance reservations. The loss-making carrier, based at East Midlands airport, said that it has ceased operations and is filing for administration. A spokesperson for Flybmi said: “It is with a heavy heart that we have made this unavoidable announcement today. The airline has faced several difficulties, including recent spikes in fuel and carbon costs. "These issues have undermined efforts to move the airline into profit. Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe.
It is a bit like conspiracy theories in relation to poker. EITHER 1. "Our business has failed due to poor management" OR 2. "It's because of Brexit"
Managers/owners unsurprisingly opt for number 2.
It will be a standard response for any business that fails/seeks to drive down wages etc for the next 5 years at least.
Brexit will cause very real problems for business in the UK. Some businesses, however well-run, will fail because of it. But nowhere near as many as will claim that is the reason.
I am sure this is correct. Although the uncertainty is damaging. How many people could have forseen us being in the current situation. Cars left our shores this week bound for Asia. They will arrive after 29th March. Will there be tariffs on them? Not ideal trading arrangements.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
"HAYSIE">A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
">"HAYSIE">A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
">"HAYSIE">A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
If you read first line of your post it says what?
You are hard work. If the man goes to live in Monaco, he will be under no obligation to pay UK tax. Exactly the same as someone who goes to Portugal to work in a hotel. A mate of mine has a bar in Lanzarote, and pays tax there. None of them will be paying UK tax. Even though they could all be accused of avoiding paying tax in the UK, none of them will be guilty of "tax avoidance", as it is a completely different thing, which you clearly don't understand.
After moving to Monaco he will be paying his tax there.
I cant be bothered with any more explaining.
Congratulations on getting your own thread bye the way.
What tax avoidance is Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended. It often involves contrived, artificial transactions that serve little or no purpose other than to produce this advantage. It involves operating within the letter, but not the spirit, of the law. Most tax avoidance schemes simply do not work, and those who use them may end up having to pay much more than the tax they tried to avoid, including penalties.
A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper. The front of the newspaper also features claims that Brexit supporting Conservative MPs have rejected attempts by Theresa May to get them to back her deal for leaving the EU.
It quotes leaked WhatsApp messages from the deputy chairman of the European Research Group of Tory MPs, Steve Baker, saying it insists the so-called backstop - to prevent the return of a hard border in Ireland - be removed from the Withdrawal Agreement. He says a failure to do so would lead to a split in the party.
">"HAYSIE">A prominent Brexiteer is planning to avoid up to £4bn in UK taxes after moving his home and money to Monaco, the Sunday Times reports on its front page. Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
If you read first line of your post it says what?
You are hard work. If the man goes to live in Monaco, he will be under no obligation to pay UK tax. Exactly the same as someone who goes to Portugal to work in a hotel. A mate of mine has a bar in Lanzarote, and pays tax there. None of them will be paying UK tax. Even though they could all be accused of avoiding paying tax in the UK, none of them will be guilty of "tax avoidance", as it is a completely different thing, which you clearly don't understand.
After moving to Monaco he will be paying his tax there.
I cant be bothered with any more explaining.
Congratulations on getting your own thread bye the way.
What tax avoidance is Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended. It often involves contrived, artificial transactions that serve little or no purpose other than to produce this advantage. It involves operating within the letter, but not the spirit, of the law. Most tax avoidance schemes simply do not work, and those who use them may end up having to pay much more than the tax they tried to avoid, including penalties.
So maybe you shouldnt post fake news, it clearly says he is planning to move to AVOID paying tax. By the way its not my thread but day4 eire, i was just repaying him the compliment after he trolled me.
@rainman215 I tried to help by holding out a proverbial Olive Branch, I really did. The explanation Haysie has given is correct, it’s a language thing, English is a conundrum at times, Tax Avoidance and Avoiding paying tax (by moving to another Country) are two different things ( although sounding the same)
@rainman215 I tried to help by holding out a proverbial Olive Branch, I really did. The explanation Haysie has given is correct, it’s a language thing, English is a conundrum at times, Tax Avoidance and Avoiding paying tax (by moving to another Country) are two different things ( although sounding the same)
Thank you Tom, just dont see what him moving to Monaco has to do with Brexit, and maybe the Sunday Times should not report the avoiding tax part of it.
Comments
EITHER 1. "Our business has failed due to poor management" OR
2. "It's because of Brexit"
Managers/owners unsurprisingly opt for number 2.
It will be a standard response for any business that fails/seeks to drive down wages etc for the next 5 years at least.
Brexit will cause very real problems for business in the UK. Some businesses, however well-run, will fail because of it. But nowhere near as many as will claim that is the reason.
His avowed "young company" does not sound quite so young when it is realised that it includes the old BP Chemicals/major parts of ICI. Grangemouth provided some, er, fun for a while.
He has always had substantial interests abroad-Ineos is as much Swiss as British, and there are major French/Chinese operations, and have been way before the Referendum.
"Labyrinthine tax plan"? People who are £multi-billionaires always have them-as would everyone who didn't want to pay £10billion in Inheritance tax, and leave it to their family instead. It's not like he hasn't already paid a great deal. Him moving for tax purposes has nothing to do with Brexit
In this particular case, Brexit certainly contributed to their downfall. How much, it's hard to say, but certainly it was a significant contributor.
How will it affect my kids? Quite a lot.
When I was my kids' age, I lived in an England where people had careers, home ownership was attainable, and education was free. Anyone see the same future now?
The UK has been closely financially entwined with its largest trading partner for 45 years. We are now not only leaving, we have no concrete plan as to what we are going to do next, and we are leaving UK businesses totally in the dark, and thus unable to plan for their future.
We chose to leave a trading bloc without a clue as to what we are going to do next, and that risks my childrens' future. People who (at the time) were not allowed to vote, being 15 and 16 then. Whose future is being damaged by people who are not affected in the same way, ie my age and older.
The world is becoming a smaller place, due to technology. And we have just reverted to being an island again. Without a plan.
Although the uncertainty is damaging.
How many people could have forseen us being in the current situation.
Cars left our shores this week bound for Asia.
They will arrive after 29th March.
Will there be tariffs on them?
Not ideal trading arrangements.
Project fear didnt work in Norway either.
We currently check passports of people arriving in the country, yet we don't check those of people leaving.
This results in us not knowing who is here at any particular time.
Some estimates suggest that we currently have 1.5 million illegal immigrants.
The illegal nature of this would suggest that few will contribute to our economy, and the majority will be working for cash.
You would think that the first step to addressing this issue would be finding out who is here illegally.
This would not prove very difficult.
We don't need Brexit just to be able to enforce some controls on our borders.
Dont you read what you post ?
The first line of your post mentions he is planning to move to AVOID up to £4bn in UK taxes.
Sir Jim Radcliffe - who built up the chemicals giant Ineos and is Britain's richest man - has been working with accountants PwC on a "labyrinthine" tax avoidance plan, a source told the paper.
My apologies should of said tax avoidance.
If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
If you read first line of your post it says what?
The first line of your post mentions he is planning to move to AVOID up to £4bn in UK taxes. If he is going to live elsewhere, how is that tax avoidance?
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
If you read first line of your post it says what?
You are hard work.
If the man goes to live in Monaco, he will be under no obligation to pay UK tax.
Exactly the same as someone who goes to Portugal to work in a hotel.
A mate of mine has a bar in Lanzarote, and pays tax there.
None of them will be paying UK tax.
Even though they could all be accused of avoiding paying tax in the UK, none of them will be guilty of "tax avoidance", as it is a completely different thing, which you clearly don't understand.
After moving to Monaco he will be paying his tax there.
I cant be bothered with any more explaining.
Congratulations on getting your own thread bye the way.
What tax avoidance is
Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended.
It often involves contrived, artificial transactions that serve little or no purpose other than to produce this advantage. It involves operating within the letter, but not the spirit, of the law.
Most tax avoidance schemes simply do not work, and those who use them may end up having to pay much more than the tax they tried to avoid, including penalties.
I was reading what you posted.
Moving to Monaco to avoid paying tax in the UK is not tax avoidance.
If you read first line of your post it says what?
You are hard work.
If the man goes to live in Monaco, he will be under no obligation to pay UK tax.
Exactly the same as someone who goes to Portugal to work in a hotel.
A mate of mine has a bar in Lanzarote, and pays tax there.
None of them will be paying UK tax.
Even though they could all be accused of avoiding paying tax in the UK, none of them will be guilty of "tax avoidance", as it is a completely different thing, which you clearly don't understand.
After moving to Monaco he will be paying his tax there.
I cant be bothered with any more explaining.
Congratulations on getting your own thread bye the way.
What tax avoidance is
Tax avoidance involves bending the rules of the tax system to gain a tax advantage that Parliament never intended.
It often involves contrived, artificial transactions that serve little or no purpose other than to produce this advantage. It involves operating within the letter, but not the spirit, of the law.
Most tax avoidance schemes simply do not work, and those who use them may end up having to pay much more than the tax they tried to avoid, including penalties.
So maybe you shouldnt post fake news, it clearly says he is planning to move to AVOID paying tax.
By the way its not my thread but day4 eire, i was just repaying him the compliment after he trolled me.
I tried to help by holding out a proverbial Olive Branch, I really did.
The explanation Haysie has given is correct, it’s a language thing, English is a conundrum at times, Tax Avoidance and Avoiding paying tax (by moving to another Country) are two different things ( although sounding the same)