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Posts Tagged ‘Brightside Group’

#Ukip donor #Arron_Banks shows tax cheque …

Posted by Greg Lance - Watkins (Greg_L-W) on 28/02/2017

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#Ukip donor #Arron_Banks shows tax cheque …
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Posted by:
Greg Lance – Watkins
Greg_L-W

eMail: Greg_L-W@BTconnect.com

https://InfoWebSiteUK.wordpress.com

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Hi,

Ukip donor Arron Banks shows tax cheque sent to HMRC for £1.86m

Ukip hopes release of benefactor’s tax cheque will end speculation about financial affairs of former Tory donor
Ukip's new donor Arron Banks, who has pledged £1m to the party.
Ukip’s new donor Arron Banks, who has pledged £1m to the party. Photograph: Matt Cardy/Getty

A former Tory donor who pledged £1m to Ukip, only to face criticisms for basing his business interests in tax havens, has released evidence that he paid £1.86m in British tax this year.

Arron Banks, a businessman from Bristol, claimed on the day of David Cameron’s conference speech that he had once given £250,000 to the Tories but would now give £1m to Ukip instead.

The Tories said they could not find a record of his donations, saying they could only locate a £25,000 gift. He then faced questions because some of his businesses appear to be based in the low-tax jurisdictions of Gibraltar and the Isle of Man.

But Banks’s public relations chief, Bridget Rowe, a former Sunday Mirror editor, released a copy of a cheque sent by Banks to HM Revenue & Customs for £1.865m in February this year.

Cheque supplied by Arron Banks as proof of paying tax
The cheque supplied by Banks as proof he paid tax in Britain this year. Photograph: Arron Banks

Ukip hopes that the document will help to quell questions about Banks’s tax affairs since he emerged as one of Britain’s most generous political donors on Wednesday.

His money will be used to fund the general election campaign as Ukip threatens to destabilise the three main Westminster parties.

Companies House records, which are supposed to show a comprehensive record of past and present interests of a director, appear to show that Banks has set up 37 different companies using slight variations of his name.

Using the name Aron Fraser Andrew Banks, he was a director of Eclipse Insurance Services but resigned in 1995, records show.

Arron Banks is registered as a secretary of African Compass Trading, which appears to be still trading.

The same company is also registered as having a director called Arron Andrew Fraser Banks who is also still involved in another firm, Vavista Ltd.

Under the name Arron Fraser Andrew Banks he is registered as a former director or former secretary of 34 different companies, but has resigned from all of them.

The first, third and fourth names, according to Companies House records, use the same date of birth but register different lists of companies.

A spokesman for Banks said that he declined to answer questions over his Companies House entries as well as other matters and preferred instead to “correct [the Guardian’s] mistakes in court”.

Banks appeared to come from nowhere last week when a press release from the anti-federalist party announced that a major Tory donor had defected, following the defections of the MPs Mark Reckless and Douglas Carswell.

The businessman who had made his fortune from insurance announced a tenfold increase in his planned donation to Ukip – to £1m – after William Hague told the BBC he had not heard of him.

Ukip claimed that he had given £250,000 to the Tories. But from Electoral Commission records, he gave £5,000 under the name Arron F Banks in May 2009 to Thornbury and Vale Conservative Association; and a second payment of £20,000 to Northavon Conservative Association in January 2007.

A Ukip source said that he had also loaned £75,417 to Thornbury and Yate Conservative party through his former company Panacea Finance in September 2007. This loan was registered on the Electoral Commission’s website and has to be paid back in 2022.

However, Companies House records show that Banks resigned from the company in September 2005, two years before the loan was granted. This raises questions over whether he was controlling the firm at the time, or whether he was using the firm as a “proxy donor”.

Banks’s office declined to send a further explanation of how else he had paid the Tories any money.

The Conservatives have also said they can find no record to substantiate Banks’s claim that he was a Tory party official in Basingstoke.

Again, Banks declined to comment.

Interest in Banks increased when it emerged that his Facebook page included photographs of him holding a shotgun and sitting in a red sports car.

Banks, 48, says he is worth about £100m. Friends say that he has a controlling interest in a former De Beers diamond mine in Kimberley, South Africa, and another licence to mine in Lesotho.

He met the media before a black-tie fundraising dinner for a Belize children’s hospital on Wednesday night. One of the dinner guests was Kim Simplis-Barrow, the wife of the Belize prime minister, Dean Barrow.

Rock Services Ltd, of which Banks is a director, had a turnover of £19.7m last year and paid corporation tax of £12,000. The company deducted £19.6m in “administrative expenses”.

The main activity appears to be “recharge of goods and services” with Southern Rock Insurance Company – a part of the group of companies that is based in Gibraltar. Southern Rock Insurance states on its website that it underwrite policies for the customers of GoSkippy.com, which is run by Banks. Because it is based in Gibraltar, there is little information available on it.

Rock Services and Southern Rock Insurance’s ultimate holding company is Rock Holdings Ltd, a company based on the Isle of Man.

Banks dismissed questions about his decision to base some of his firms in the low-tax jurisdictions.

Asked if his companies paid full corporation tax, he said: “I paid over £2.5m of income tax last year so I’m not going to get knocked on that one, thank you very much. I really resented that, by the way. My insurance business, like a lot of them, is based in Gibraltar but I’ve got UK businesses as well that deal with customers and pay tax like everyone else.”

Charlie Elphicke, a Conservative MP and former tax lawyer, said: ‘Everyone knows that companies in tax havens like Gibraltar and Bermuda are often used to help minimise tax. This evidence raises serious questions about Mr Banks’s conduct and consistency of identity.”

To view the original article CLICK HERE

aaFor more facts about Arron Banks CLICK HERE or HERE & ALSO HERE plus CLICK HERE & HERE and HERE TOO also HERE & HERE

Regards,

Greg_L-W.

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Posted by: Greg Lance-Watkins
tel: 44 (0)1594 – 528 337
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Posted in Hillsborough, Paul Nuttall, UKIP | Tagged: , , , , , , , , , , , | Leave a Comment »

#Arron_Banks Shows Increasingly Why He WAS Well Suited To Run #Ukip …

Posted by Greg Lance - Watkins (Greg_L-W) on 27/02/2017

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#Arron_Banks Shows Increasingly Why He WAS Well Suited To Run #Ukip …
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Posted by:
Greg Lance – Watkins
Greg_L-W

eMail: Greg_L-W@BTconnect.com

https://InfoWebSiteUK.wordpress.com

www.InfoWebSite.UK

~~~~~~~~~~#########~~~~~~~~~~000a ukip-025 count.png~~~~~~~~~~#########~~~~~~~~~~

.

Hi,

living within a few miles of Arron Banks I have been aware of his progress to some extent for many years and am not remotely surprised to have read this article below!

You will find numerouse comments about Arron Banks & his background that I have written and you may well remember a most revealing article by an old friend of mine Daniel Foggo, which he wrote some years ago!

Before reading the article published below you may well find this article gives pause for thought and some interesting background CLICK HERE

Ukip and Brexit donor Arron Banks under financial spotlight

Allegations of ‘serious and widespread’ failings while chief executive of Brightside Group

  • banks-aaron-03
© Bloomberg
The business career of Arron Banks, the biggest financial backer of the Brexit campaign, has come under scrutiny, after a court case alleged “serious and widespread” financial failings during his time as chief executive of an insurance company.
The dispute centres on events that took place during Mr Banks’ tenure at the head of Brightside Group, an insurance company that he co-founded but from which he was ousted in 2012.
Under Mr Banks, Brightside paid £17m to buy technology platforms that he co-owned. But Brightside’s new owners allege that the key software “suffered from a number of fundamental failings”.
They complain they would not have bought the company for £127m in 2014 had they known Brightside’s true financial position and have brought a negligence case against the company’s previous auditors, Baker Tilly, now RSM.
RSM has denied all allegations and said that it was never asked to review the technical merits of the online platform that Brightside bought. Mr Banks is not a party to the negligence claim and was not present at Brightside for the entire period covered by the claim.
But the auditors, in their defence, stated that if negligence did occur the responsibility should lie with Brightside’s former directors, implicitly including Mr Banks, for failing to carry out proper due diligence and failing to “take any adequate steps” in response to problems revealed by annual audits.
It also accuses the directors of “failing to bring all relevant matters to the attention” of the auditors. Mr Banks told the Financial Times that his current insurance company, GoSkippy, and Brightside had settled a separate legal claim, preventing further claims against him.
A close ally of Nigel Farage, Mr Banks has donated £1.3m to the UK Independence party since 2014, and during the referendum campaign set up his own group, Leave. EU, to which he lent £6m. This week, after tensions with Ukip’s new leader, he pledged to transform Leave. EU into a “direct democracy” group, modelled on Italy’s Five Star Movement.
Brightside claims that its owners AnaCap have had to spend £35m to stabilise the company and have lost a further £25m because of software problems. The company would have “ceased trading” in 2014 had its true position been known, its claim argues.
Auditors RSM argue that the claimants have failed to show a connection between any alleged breaches of accounting rules and their subsequent losses. Mr Banks has thrived on controversy, launching a rightwing news site and saying that he is “sick to death” of hearing about the Hillsborough disaster.
He has identified insurance as the source of most of his wealth, although he also has mining and other investments in Africa.
After co-founding Brightside in 2005 with John Gannon and Paul Chase-Gardener, he was chief executive between 2011 and 2012. In an interview with the New Statesman, Mr Banks recalled being so angry at being ousted that he punched Mr Gannon in the face “as hard as I could”.
During Mr Banks’ time as chief executive, Brightside bought ESystems and EDevelopment for £17m, in what Mr Banks called “a significant step forward”. The companies, which provided the online platform and software used by Brightside, were owned by Rock Holdings, which was beneficially owned by Mr Banks, Mr Gannon and Mr Chase-Gardener.
In their legal claim, Brightside’s new owners state that the software’s back office functionality “never worked” and that it was “incapable” of the controls necessary to protect “client money”. Brightside’s claim accuses its auditors RSM, of failing to conduct proper due diligence. It also argues that Brightside’s wider financial problems should have been recognised by its auditors, including during Mr Banks’ time as chief executive.
RSM says it identified “a significant deficiency” in Brightside’s internal financial controls in 2011 but that the problem remained unaddressed a year later. It says it passed the relevant audit report to various executives including Mr Chase-Gardener, then the finance director, but not Mr Banks, who left in June 2012.
Brightside has also filed a claim against Mr Chase-Gardener alleging breach of his duties as a director. Mr Chase-Gardener, who is contesting that claim, did not respond to a request for comment, made via his accountant. RSM said in a statement that it “would not be appropriate for us to comment on ongoing litigation”.
To read the original article CLICK HERE

Regards,

Greg_L-W.

~~~~~~~~~~#########~~~~~~~~~~
Posted by: Greg Lance-Watkins
tel: 44 (0)1594 – 528 337
Calls from ‘Number Withheld’ phones Are Blocked

All unanswered messages are recorded.
Leave your name & a UK land line number & I will return your call.

‘e’Mail Address: Greg_L-W@BTconnect.com

www.InfoWebSite.UK

DO MAKE USE of LINKS,
>SEARCH<
&
>Side Bars<
&
The Top Bar >PAGES<

Also:

ABOUT ME, Details & Links: CLICK HERE
Accuracy & Copyright Statement: CLICK HERE
UKIP Its ASSOCIATES & DETAILS: CLICK HERE
Summary & archive, facts & comments on Ukip: http://Ukip-vs-EUkip.com
General ‘Stuff’: http://GL-W.com
Leave-The-EU Referendum & BreXit Process CLICK HERE
Documents, Essays & Treaties: CLICK HERE
The Hamlet of Stroat: CLICK HERE
Data & The Study of a Wind Turbine Application: CLICK HERE
Health Blog.: CLICK HERE
Chepstow Chat: CLICK HERE
Christopher Story: CLICK HERE
Des Watkins DFC; CdeG: CLICK HERE/
Hollie Greig etc.: CLICK HERE
Psycheocracy: CLICK HERE
The McCann Case: CLICK HERE
The Speculative Society of Edinburgh: CLICK HERE
Stolen Kids, Dunblane: CLICK HERE
Stolen Kids, Bloggers: CLICK HERE
Views I respect & almost Totally Share: CLICK HERE
A Concept of Governance Worthy of Developement: CLICK HERE

Skype: GregL-W

TWITTER: @Greg_LW

Stolen Kids Blogs with links:
http://StolenKids-Bloggers.Blogspot.com
Stolen Oyster with links:
http://StolenOyster-Bloggers.Blogspot.com
Stolen Trust with links:
http://StolenTrust-Bloggers.Blogspot.com
Stolen Childhood with links:
http://StolenChildhood-Bloggers.Blogspot.com
NB:
  1. I NEVER post anonymously on the internet
  2. ALL MY BLOGS & WEB SITES are clearly sourced to me
  3. I do NOT use an obfuscated eMail address to hide behind
  4. I do NOT use or bother reading FaceBook
  5. I DO have a Voice Mail Message System
  6. I ONLY GUARANTEE to answer identifiable eMails
  7. I ONLY GUARANTEE to phone back identifiable UK Land Line Messages
  8. I do NOT accept phone calls from witheld numbers
  9. I Regret due to BT in this area I have a rubbish Broadband connection
  10. I AM opposed to British membership of The EU
  11. I AM opposed to Welsh, Scottish or English Independence within an interdependent UK
  12. I am NOT a WARMIST
  13. I do NOT believe the IPCC Climate Propaganda re Anthropogenic Global Warming
  14. I AM strongly opposed to the subsidy or use of failed technologies eg. WIND TURBINES
  15. I AM IN FAVOUR of rapid research & development of NEW NUCLEAR technologies
  16. I see no evidence to trust POLITICIANS at any level or of any persuasion
  17. I do NOT believe in GODS singular or plural, Bronze Age or Modern
  18. I value the NHS as a HEALTH SERVICE NOT a Lifestyle support
  19. I believe in a DEATH PENALTY for serial or GBH rape.
  20. I believe in a DEATH PENALTY for serial, terrorist, mass or for pleasure murder.
  21. I believe in a DEATH PENALTY for serial gross child abuse including sexual.
  22. I do NOT trust or believe in armed police
  23. I do NOT believe in prolonging human life beyond reasonable expectation of sentient participatory intellectual existence
  24. I believe in EUTHENASIA under clearly defined & legal terms
  25. I try to make every effort to NOT infringe copyrights in any commercial way & make all corrections of fact brought to my attention by an identifiable individual

Please Be Sure To
.Follow Greg_LW on Twitter.

Re-TWEET my Twitterings

& Publicise My Blogs
To Spread The Facts World Wide
~~~~~~~~~~#########~~~~~~~~~~

Posted in Hillsborough, Paul Nuttall, UKIP | Tagged: , , , , , , , , , , , | Leave a Comment »

 
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