King of the North

[A4R0N]

Watch this if you want to see the King In The North destroy BBC puppet Nick Robinson. Literally as Salmond dispels the scaremongering about RBS and Lloyds registering to London (which won't change anything for RBS as Salmond explains and Lloyds are ALREADY based in London) the infostream at the bottom is saying "RBS to register in England on a Yes vote". They're not even good at pretending not to be biased.


https://www.youtube.com/watch?v=rHmLb-RIbrM&app=desktop

[scottish]

How it is being biased, they are changing their registered HQ to London on a Yes vote?

[A4R0N]

How it is being biased, they are changing their registered HQ to London on a Yes vote?

because it doesn't have any affect on jobs or banking in Scotland. Lloyds are already in London so that wouldn't change but for some reason that can still be used as a Better Together argument by the BBC

[-:Undertaker:-]

BetterTogether have learnt literally nothing, they've just recently gone and blown a 20% lead within weeks due to this kind of pathetic scaremongering over economics (there is reason to be concerned regarding the currency issue, but not for any other reason) and now they're at it again.

At the end of the day, any Scottish nationalist who doesn't see himself as British won't and shouldn't be prepared to sacrifice national independence and sovereignty over the weak threats of a few multinational corporations. Independence is x1000 times more precious than tax revenues.

Britain is fed the same kind of lies by corporations regarding the EU, and they're just the same as the lies we were fed over the Euro back in 2000.

[Kardan]

because it doesn't have any affect on jobs or banking in Scotland. Lloyds are already in London so that wouldn't change but for some reason that can still be used as a Better Together argument by the BBC

It does have an impact on jobs for sure. From what I've read though, it's not a major impact that some people are saying - a large majority of people working for these companies won't have any change implemented onto them. So it's a small change, but I guess that counts as an impact.

[scottish]

Well, correct me if i'm wrong but if their main HQ is on London they'll be primarily paying UK taxes, not Scotland.

So sure it might not effect jobs or banking in Scotland, but it will have a massive impact on taxing if three main companies are pulling their taxes out of Scotland.

Lloyds moved their HQ in February (due to the independence vote iirc) and then split into TSB/Lloyds as different firms didn't it? So maybe they're referring to the TSB HQ (which might be in Edinburgh). idk though about lloyds

- - - Updated - - -


BetterTogether have learnt literally nothing, they've just recently gone and blown a 20% lead within weeks due to this kind of pathetic scaremongering over economics (there is reason to be concerned regarding the currency issue, but not for any other reason) and now they're at it again.

At the end of the day, any Scottish nationalist who doesn't see himself as British won't and shouldn't be prepared to sacrifice national independence and sovereignty over the weak threats of a few multinational corporations. Independence is x1000 times more precious than tax revenues.

Britain is fed the same kind of lies by corporations regarding the EU, and they're just the same as the lies we were fed over the Euro back in 2000.

they've aided Pro Independence on avoiding issues like that though, because they've scaremongered so much people think whatever comes out of Better Together is complete BS now, so they can avoid serious issues and say 'oh they said this and look at it now'

[xxMATTGxx]

"King of the North" - Well, that means there's going to be red wedding then. We all know what happens then!


It seems that the TSB is the one that is based in Scotland. But Lloyd's Bank have HQs in England and Scotland - Oh boy, this gets confusing.

[A4R0N]

Well, correct me if i'm wrong but if their main HQ is on London they'll be primarily paying UK taxes, not Scotland.

So sure it might not effect jobs or banking in Scotland, but it will have a massive impact on taxing if three main companies are pulling their taxes out of Scotland.

As Salmond explains in his answer- corporate tax is based on economic activity, not in where their HQ is. Ie if the banking stays the same the taxes stay same (of course unless corporate tax rates change etc.)

[Michael]

The fact Salmond had to bring in a bunch of his own supporters to a press conference shows his desperation, he may have had a shining star moment on the polls last week but I'm sure that's all over now. The guy relies on cheap cracks for his victories like the one above. To vote 'yes' to leave Scotland would be foolish, Salmond is weak and when the when the time comes, the Scottish public will know better.

[A4R0N]

The worst part is that when reported on the news, it broadcasted nick robinson's question and then cut off saying "he didn't answer", despite this very obvious meaty response

[Kardan]

As Salmond explains in his answer- corporate tax is based on economic activity, not in where their HQ is. Ie if the banking stays the same the taxes stay same (of course unless corporate tax rates change etc.)




Multinationals typically want to be tax resident in the UK rather than elsewhere because tax rules are more "friendly" than in other countries, such as the US, Mr Stevens said.

For example, in the UK, when a holding company distributes profits as dividends to shareholders, the company does not pay tax on the profits, but it does in the US.

This becomes especially interesting for companies if their subsidiaries are tax resident in countries with lenient tax rules.

For example, if a subsidiary or "operating" company is tax resident in a place such as the Cayman Islands, which has no corporation tax, then profits can be funnelled up to the holding company in the UK, and distributed to shareholders as dividends, without the company paying tax on those dividends.

If there is a majority Yes vote in Scotland, when it becomes independent it will have the same friendly regime as the rest of the UK. However, the two parallel sets of rules would gradually diverge over time, Mr Stevens said.

It may be that an independent Scotland's tax regime is eventually more attractive to multinational companies than the UK.

However, there's no indication that Scotland would become either more or less attractive to holding companies.


So basically, these international companies are in the UK for a reason. If Independence happens, they won't be in the UK, and whilst initially there's no difference in taxes, it could all change now that Scotland have control over that. So it's just security really. These companies don't want things to change for the worse, so they're making sure of that by making sure they're staying with the same UK tax system.

Of course, for all we know, Scotland could change the tax system to be better than the UK, and you could easily have companies coming back to Scotland. But there is a difference on tax depending on which country you're in.

[A4R0N]

So basically, these international companies are in the UK for a reason. If Independence happens, they won't be in the UK, and whilst initially there's no difference in taxes, it could all change now that Scotland have control over that. So it's just security really. These companies don't want things to change for the worse, so they're making sure of that by making sure they're staying with the same UK tax system.

Of course, for all we know, Scotland could change the tax system to be better than the UK, and you could easily have companies coming back to Scotland. But there is a difference on tax depending on which country you're in.

so basically the bbc and the no campaign are scaremongering who'd have thought it

[scottish]

So what happens if our taxes aren't more attractive than the UK then what?

like I don't care what it's doing, if they're in the UK then they're benefiting from the UK system how, if they're paying Scotland taxes and not the UK?

If what alex says is true, then having your HQ in Scotland or UK doesn't matter, as they're operating here and it's going to cost them whatever we charge for corp tax?

Obviously UK = safety of BoE backup. Independent Scotland = no financial backup

[Kardan]

so basically the bbc and the no campaign are scaremongering who'd have thought it

I wouldn't say the BBC are, that text I quoted was from the BBC. They're actually explaining that what the no campaign is saying isn't as bad as it sounds initially. I would agree that the No campaign (Even though I am on their side) is exaggerating things to make independence sound bad - but for sure there's also times where I think the independence campaign are saying exaggerated things to make an independent Scotland sound better than it would be in reality. (E.g Salmond's figures on oil income).

It works both ways, and quite frankly, I don't think it would be possible with either side doing some exaggerating.