Problems with Jeremy Corbyn’s tax return? Blame the accountants!
The document shows Jeremy Corbyn paid £35,298 in tax for the period 2015-16 [Image: Stefan Wermuth/Reuters].
So all should be well – unless, of course, the firm he employed was PricewaterhouseCoopers!
An aide for Corbyn was unable to explain the omission and agreed that it did not look quite right. The issue would be raised with the accountant who worked on the tax returns, he said.
“This year, for the first time, Jeremy appointed a firm of accountants to do his tax. The accountants were provided with all the relevant information,” said the aide. “We are confident that the overall ‘tax paid’ figure was right.”
The aide went on to confirm that Corbyn had been paid for both his MP and leader roles and that this was not a case of tax not being paid because “the tax was deducted at source” for both salaries.
Source: Jeremy Corbyn publishes tax return, revealing total income of £114,342 | Politics | The Guardian
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One amongst a number of controversies regarding PricewaterhouseCoopers:
In 2012, the Accountancy and Actuarial Discipline Board (AADB) of the UK fined PwC a record £1.4m for wrongly reporting to the Financial Services Authority that JP Morgan Securities had complied with client money rules which protects client funds. The accountants neglected to check whether JP Morgan had the correct systems in place, and failed to gather sufficient evidence to form opinions on the issue, and as a result, failed to report that JP Morgan failed to hold client money separate from JP Morgan’s money. It is the greatest penalty administered to a professional accountancy firm in the UK. Wikipedia
Here’s another:
In 2007, PwC was criticised by the Treasury Select Committee of the Parliament of the United Kingdom for helping Northern Rock, a client of the firm, to sell its mortgage assets while also acting as its auditor. In 2011, a House of Lords inquiry criticized PwC for not drawing attention to the risks in the business model followed by Northern Rock, which was rescued by the UK government during the financial crisis.
I generally like your articles but this is poorly researched and just exacerbates the fake news circulating about Jeremy Corbin.
There was no mistake made by him or his accountants. The tax return is 6 pages long. The item was clearly listed. If you can’t understand accounts, find someone who does and get them to explain it to you.
Is that advice for everybody else in the media who, like me, hasn’t picked up on whatever you’re mentioning.
Only three pages of Mr Corbyn’s tax return were published on his website when I looked yesterday, while writing my first article on the subject.
I see that more pages have appeared since, but I cannot seem to open the attachments, therefore it is impossible to verify what you’re saying.
Unfortunately, you are still responsible for your own tax return, and most accountancy firms make sure they have got themselves out of any liability.
They don’t do anything, just process the info and submit it to HMRC. insist you are responsible for your information, stats and calculations. any mistake or omission is yours.
I have pointed out that many business consultants, accountants just offer to put their name to it and avoid any responsibility or liability.
It seems Mr Corbyn’s return is all correct and above-board, in fact.
May be he should go to KPMG, you know the financial accounting subsidiary of Atos, UNUM, Maximus, they are taking all the govt accounting jobs, and business and statutory services and aiming to be No1 accountants to all business including small and medium in the country and across the world, Boasted in 2012 that they would bring the arrogant doctors to their knees when doctors objected to being told to put finances first, not their patients or standards of practice.
Hmmm Atos and KPMG have the GP commissioning managing contract. You know the one that directs and orders GPs to strike off and ignore patients and award them for doing so. or does not give them commissioning or permission to operate as a GP in first place
Maybe not.
MIKE
Simple answer-the MSM have failed to report ALL the additional income is accounted for on page 3 of his tax return, which was published on his site, along with pages 1,2,4,5 & 6 of that return.
One might almost suspect they have an agenda?
Steve