The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Saturday, 29 February

Play It Again Sam - Daft Evaders Shamed

The HMRC has chosen not to talk about identifiable schemes when asked by ThisWeekinFM such as Cobalt Data Centres that saw the elite of the footballing world plough vast amounts of money in to an Enterprise Zone Allowance on the promise that tax relief would see them absolved of paying taxes on other amounts in their fortunes. This effectively provided the investors with a 'tax profit' paid for by the honest, hard-working people who enjoy the beautiful game.

Wayne Rooney, Arsene Wenger, Terry Venables, Roy Hodgson, Marouane Fellaini, and Kenny Dalglish were among 675 investors of £79 million in 2011 that received £131 million in tax allowances, a BBC investigation found. Their money helped build two data centres on Tyneside that remain unoccupied.

The HMRC told ThisWeekinFM: 'The Enterprise Zone Allowance (EZA) was designed to provide strategic fiscal support to economically deprived areas of the UK. HMRC will not tolerate any abuse. When we find evidence of abuse we crack down to make sure the EZA relief works as Parliament intended by supporting economic regeneration and rejuvenating local economies'. HMRC is now attempting to get the money back whilst the football folk and other celebrities that were enticed in to the Harcourt Capital scheme have called on their agents to protect their blackened names.

Picture: The still unoccupied Tyneside Cobalt Data Centres that saw investors get more back in tax than they actually invested

Article written by Robin Snow

Share



Related Articles

Reaching the Zenith in Slough

Zenium has confirmed it will be entering the UK data centre market with the strategic acquisition of a facility in Slough, West London. Branded London One, this will...

 Read Full Article
Stamp Duty Case Stamped On

  According to The Guardian, HMRC has been knocked back in its attempt to recover £50 million in Stamp Duty pertaining to the £959 Million sale of...

 Read Full Article
All Connected and Raring to Go

The Vision247’s data centre in Chiswick Park in London is fully operational with connections to the predominant data centres via a proprietary fibre optic...

 Read Full Article
New Rental Tax Rules Could Cost Investors £Millions

The latest taxation changes to commercial and residential property could cost non-UK companies £millions. The latest set of changes come in to force on 6 April...

 Read Full Article
Minimum Wage Cheating Is On The Rise

A new report from the Low Pay Commission has found that the number of people paid less than the statutory minimum wage in the UK increased in 2018. The largest numbers of...

 Read Full Article
Are Mission-critical Environments Just A Zinc Whisker Away From Disaster?

Data centres are hidden, sleeping giants that are critical to the operation of many businesses, writes Jenna Bluedorn. However, in this digital age, the mission-critical...

 Read Full Article
Vroom With A View - Bicester Plans Automotive Resort

Bicester Heritage has planned a 344-room hotel as part of an overall vision for a souped-up automotive resort on a former RAF site. The plans have been submitted for...

 Read Full Article
Wake-up And Smell The Coffee - Starbucks Takes LEED

Starbucks has just opened  the first-of-its-kind drive-thru in Yeading with new sustainable design features. The brand new store is LEED (Leadership in Energy and...

 Read Full Article
Hoxton Hub

International co-working developer, Areaworks, opened  its first site in the UK, in Hoxton, East London, on the evening of July 5. It brings a new way of working...

 Read Full Article
Property Price World Cup - England Fall At Final Hurdle

London’s West End has been ranked second most expensive office market in the world with the City of London back in the Top 10 - but which city keeps on giving a...

 Read Full Article