{"id":18439,"date":"2012-12-02T20:23:50","date_gmt":"2012-12-02T20:23:50","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=18439"},"modified":"2012-12-02T20:23:50","modified_gmt":"2012-12-02T20:23:50","slug":"deloitte-playing-the-transfer-pricing-game","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/12\/02\/deloitte-playing-the-transfer-pricing-game\/","title":{"rendered":"Deloitte: playing the transfer pricing game"},"content":{"rendered":"<p>I have been sent the accounts of Deloitte Limited to 31 May 2012 this evening. As the accounts say:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-19.54.45.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-18440\" title=\"Screen shot 2012-12-02 at 19.54.45\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-19.54.45.png\" alt=\"\" width=\"650\" height=\"214\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-19.54.45.png 650w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-19.54.45-300x98.png 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/a><\/p>\n<p>Seems fair enough. So what does the profit and loss account say?<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.16.09.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-18442\" title=\"Screen shot 2012-12-02 at 20.16.09\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.16.09.png\" alt=\"\" width=\"648\" height=\"569\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.16.09.png 648w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.16.09-300x263.png 300w\" sizes=\"auto, (max-width: 648px) 100vw, 648px\" \/><\/a><\/p>\n<p>Hang on? \u00a3728 million of turnover and not a penny of profit or tax due? It would seem like it, but not quite: This is the tax note:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-18443\" title=\"Screen shot 2012-12-02 at 20.17.32\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32.png\" alt=\"\" width=\"657\" height=\"665\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32.png 657w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-296x300.png 296w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-96x96.png 96w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-24x24.png 24w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-36x36.png 36w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-48x48.png 48w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2012\/12\/Screen-shot-2012-12-02-at-20.17.32-64x64.png 64w\" sizes=\"auto, (max-width: 657px) 100vw, 657px\" \/><\/a><\/p>\n<p>So, here we have a company employing Deloitte's staff, giving them no legal protection because there are no reserves to ensure that if they\u00a0pursue\u00a0a claim it will necessarily be paid\u00a0since\u00a0the balance sheet\u00a0reveals\u00a0that this\u00a0company\u00a0has just \u00a32 of share capital and no reserves, whilst we also learn that the whole arrangement is considered even by the normally laid back HMRC to be so odd they charged \u00a39.7 million of tax for failing to transfer\u00a0price\u00a0properly, which cost the\u00a0Deloitte\u00a0partners\u00a0paid.<\/p>\n<p>Now please don't tell me Deloitte don't structure their affairs for tax and almost certainly\u00a0regulatory\u00a0avoidance purposes. Because of you do I won't believe you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have been sent the accounts of Deloitte Limited to 31 May 2012 this evening. As the accounts say: Seems fair enough. So what does<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/12\/02\/deloitte-playing-the-transfer-pricing-game\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[],"class_list":["post-18439","post","type-post","status-publish","format-standard","hentry","category-deloittes"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/18439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=18439"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/18439\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=18439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=18439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=18439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}