Jacob Rees-Mogg investigated by standards watchdog

[johnofgwent]

I find it very interesting, that it is only three.

I find it interesting that the individual now seemingly in charge of this circus finds it acceptable to pose for a gay dating online site in grubby underwear.

Given the shitloads the wanker collects on expenses he might have at least worn a decent suit.

[Streetwalker]

Labour still trying to spend our taxes on another investigation ,well at least its not a public enquiry 

Anyway , when the investigation comes up with nothing to see here , move along now folks , maybe the deputy leader of the Labour party should be given a bill for wasting everyone's time and money .

[papasmurf]

So three Tories give advance notice of their intent to comply with new regulations and you find that "interesting". ?

Given it is a perfectly legitimate pursuit until the standards body days otherwise, I'd be far more interested in the state of the wallpaper ...

I find it very interesting, that it is only three.

[johnofgwent]

Interesting:-


https://www.bbc.co.uk/news/uk-politics-59497444

Tory MPs give up adviser jobs ahead of expected rules change

Published13 hours ago

Three Tory MPs have given up second jobs as advisers to firms ahead of a likely change to Parliament's rules.

Former party leader Sir Iain Duncan Smith, ex-health minister Steve Brine and former Northern Ireland Secretary Julian Smith have made the move.

So three Tories give advance notice of their intent to comply with new regulations and you find that "interesting". ?

Given it is a perfectly legitimate pursuit until the standards body days otherwise, I'd be far more interested in the state of the wallpaper ...

[papasmurf]

Interesting:-


https://www.bbc.co.uk/news/uk-politics-59497444

Tory MPs give up adviser jobs ahead of expected rules change

Published13 hours ago

Three Tory MPs have given up second jobs as advisers to firms ahead of a likely change to Parliament's rules.

Former party leader Sir Iain Duncan Smith, ex-health minister Steve Brine and former Northern Ireland Secretary Julian Smith have made the move.

[papasmurf]

I'm sure there are, but your oft stat d position on the political party he is a member of makes you the last person the parliamentary standards people should listen to.

I don't expect them to listen to me. However Rees Mogg has some explaining to do:-


https://www.icij.org/investigations/pandora-papers/global-investigation-tax-havens-offshore/

An ICIJ analysis identified hundreds of offshore companies that ended relationships with the scandal-tarred law firm Mossack Fonseca after the release of the Panama Papers investigation. Other providers took over as the companies' offshore agents.

One of those companies was controlled by an offshore trust whose beneficiaries included the wife of Jacob Rees-Mogg, a member of the British Conservative Party and current leader of the House of Commons.

The Pandora Papers indicate that a holding company and a trust benefiting his spouse, Helena de Chair, owned "pictures and paintings" worth $3.5 million.

[johnofgwent]

Rees Mogg needs investigating anyway there are other "anomalies."

I'm sure there are, but your oft stat d position on the political party he is a member of makes you the last person the parliamentary standards people should listen to.

[papasmurf]

Correct but with a simple difference, the loan was taken due to cash flow and fully repaid.

Rees Mogg needs investigating anyway there are other "anomalies."

[Nick]

Another potential fiddle:-

https://www.franciswilksandjones.co.uk/abuse-of-a-directors-loan-account/


Misconduct

Where a directors loan is used as an alternative form of income, there are a number of areas of misconduct.

Firstly, such behaviour could comprise tax fraud as it would effectively be disguised remuneration where remuneration normally subject to PAYE/NI is "disguised" as a loan, to avoid such a liability.

Often the loan is never repaid or written off via accounting entries (which are relatively easy to instigate in a small company) and thus the company is permitted to participate in a tax avoidance scheme.

For many small companies, the directors loan is unauthorised by shareholders and may not be accounted for in its books and records – it is merely something which is constructed to account for unauthorised drawings from the company by directors.

As a side issue, if a company has not accounted for the tax due on the director's loan account balance as at the year-end, then this in itself can form grounds for a finding of misconduct.

Correct but with a simple difference, the loan was taken due to cash flow and fully repaid.

[johnofgwent]

Well he wouldn't be the first politician to see a loan as a neat way to avoid onerous reporting requirements on cashflow gains.

Labour used this trick all the time to keep the party afloat, even handed out a few gongs for it.

The rules are exactly as Mogg says. Loans are not reportable as income. He SAYS he repaid them with interest as per HMRC regulations OR declared them as dividends. He has the right to do either as long as the latter DOES get declared. I can't be arsed to check if he did.

The parliamentary standards people DO have the right to check that including poking into his tax affairs to check he is working within the rules, and if he's lying or he's f**ked up the paperwork then he's in very deep shit.

BUT

If labour want the rules surrounding the register changed that's fair enough but until they are the gobby bitch should butt out of making public criticism lest she topple her "colleagues"

[papasmurf]

Directors Loan Account.

Another potential fiddle:-

https://www.franciswilksandjones.co.uk/abuse-of-a-directors-loan-account/


Misconduct

Where a directors loan is used as an alternative form of income, there are a number of areas of misconduct.

Firstly, such behaviour could comprise tax fraud as it would effectively be disguised remuneration where remuneration normally subject to PAYE/NI is "disguised" as a loan, to avoid such a liability.

Often the loan is never repaid or written off via accounting entries (which are relatively easy to instigate in a small company) and thus the company is permitted to participate in a tax avoidance scheme.

For many small companies, the directors loan is unauthorised by shareholders and may not be accounted for in its books and records – it is merely something which is constructed to account for unauthorised drawings from the company by directors.

As a side issue, if a company has not accounted for the tax due on the director's loan account balance as at the year-end, then this in itself can form grounds for a finding of misconduct.

[Nick]

Disability Living Allowance?

Directors Loan Account. 

[papasmurf]

From what I can see from the article there is nothing to investigate, any money that is added to the DLA is not salary and therefore doesn't need to be reported. Strikes me ms Rayner has a touch of the green eyed monster and just wants to take a senior rich Tory out.

Disability Living Allowance?

[Nick]

ww.bbc.co.uk/news/uk-politics-59491565

Shame really. I like Rees-Mogg. It seems a harmless enough tax dodge and unless he is using the money to fund a chain of  brothels staffed by underage children I can't see that it matters a lot. Still, he has Angela Rayner bringing the charges and she usually f**ks up, so it should be fun.

From what I can see from the article there is nothing to investigate, any money that is added to the DLA is not salary and therefore doesn't need to be reported. Strikes me ms Rayner has a touch of the green eyed monster and just wants to take a senior rich Tory out. 

[Borchester]

ww.bbc.co.uk/news/uk-politics-59491565

Shame really. I like Rees-Mogg. It seems a harmless enough tax dodge and unless he is using the money to fund a chain of  brothels staffed by underage children I can't see that it matters a lot. Still, he has Angela Rayner bringing the charges and she usually fucks up, so it should be fun.