8 ms·

Does he talk about the design of the legal structure for his tax avoidance vehicle that holds the land he has bought up in the UK? lol https://whoownsengland.

Does he talk about the design of the legal structure for his tax avoidance vehicle that holds the land he has bought up in the UK? lol https://whoownsengland.org/2017/09/19/why-is-james-dyson-hoovering-up-land/ https://whoownsengland.org/2017/09/19/why-is-james-dyson-hoo... "By July 2017, Farmers Weekly was reporting that Dyson’s empire had grown to 13,355 hectares, or 33,000 acres."

brink 5y ago
Bill Gates is doing the same thing. It's annoying. https://agfundernews.com/gates-if-not-for-climate-then-why-is-bill-buying-up-so-much-farmland.html https://agfundernews.com/gates-if-not-for-climate-then-why-i...
- verisimi 5y ago
  "Despite sustainable agricultural development being one of the key focus areas for his nonprofit Gates Foundation, the Microsoft co-founder claims that his farmland investments are not tied to climate. But while Gates might be solely focused on returns, one should not overlook farmland investing’s potential to drive sustainability on a massive scale." how is a non-profit able to make farmland investments at all? What exactly is the difference between an investment vehicle and a non-profit? But... these guys care for us!
  - hellbannedguy 5y ago
    1. His 501c3 gives back less than 1% back to the USA. 2. Personally, I feel like most nonprofits are shady, especially the rich boy tax dodging ones. 3. I have paid a tax on every pc I bought over the years because of him. Will never understand his fans.
  - oh_sigh 5y ago
    Because a non-profit in the US just means that they can't distribute profits to the shareholders, not that they can't try to make money. They just need to use their profits to further their mission instead of distributing to shareholders. For example, the Gates Foundation could own a completely conventional farm, and run it like a conventional farm, but any profits they generate could be used to buy and deliver malaria pills to at-need countries (or something like that). That would be an acceptable reason a non-profit owns farmland.
    - missedthecue 5y ago
      The giant German conglomerate Bosch is structured in a similar way. 92% of the company is owned by the Bosch family charitable foundation 'Robert Bosch Stiftung'
    - blitzar 5y ago
      any profits they generate could be used to buy more farms to make more profits to buy more farms with
    - verisimi 5y ago
      sure - it could buy malaria pills, or it could just buy more farms.
- dillondoyle 5y ago
  I think in the US there are also a good tax breaks for creating 'farms' on your land. Since we give so much subsidy to the industry. IIRC lot of billionaires will get sheep grazing or something like that to claim their mega mansions as farms. I thought I remember Marc Cuban is an example but can't find a quick source. So maybe my memory is wrong on this one.
  - 20211215throw 5y ago
    Here in NJ a typical middle class house pays 10-25k/yr in property taxes. But if you have 5 acres and sell a few thousand dollars worth of pumpkins you pay near zero because you're a farm. https://www.nj.com/politics/2019/09/how-to-cut-your-property-taxes-in-nj-start-a-farm.html https://www.nj.com/politics/2019/09/how-to-cut-your-property...
jimnotgym 5y ago
I really dislike Dyson. 1) Move to Singapore, citing that Britain won't join the euro as a factor. 2) EU energy efficiency test goes against his product 3) Campaigns for Brexit I had one of his vacuum cleaners and it was under powered and always needed cleaning inside. I got a Meile with a bag afterwards. Much more powerful for less money.
- jimnotgym 5y ago
  Then the ventilators thing happened. "Don't give resources to medical firms that know how to build ventilators...give it to Dyson who will build it faster, better...unapproved and a complete failure https://www.theguardian.com/technology/2021/apr/22/covid-lancashire-firm-wades-into-dyson-ventilators-row https://www.theguardian.com/technology/2021/apr/22/covid-lan...
  - verytrivial 5y ago
    And stitching up getting Dyson as one of only two brands of approved air ventilation in state schools. Grifter.
    - deleted 5y ago
      [deleted]
  - AngusH 5y ago
    Although it looks like Dyson was not actually paid anything and covered the £20m development cost themselves: https://www.bbc.co.uk/news/business-52409359 https://www.bbc.co.uk/news/business-52409359
- rootusrootus 5y ago
  It's hit or miss. For a plug-in vacuum, there are others I would choose first. But for a cordless stick vacuum, nobody else is comparable.
  - chrisseaton 5y ago
turtlebits 5y ago
I don't get why people hate him so much. I already do the most that I can to reduce my tax basis, is that immoral? I know several people who have moved to Nevada/Texas to avoid paying estate taxes.
- 8note 5y ago
  Yep, it's immoral, and it gets more immoral the richer you get.
- klyrs 5y ago
  With great power comes great responsibility. If you're not a billionaire, the so-called* hatred isn't directed at you and you shouldn't be taking it personally. * not hatred, actually, just greater expectations of those with greater power
  - CamperBob2 5y ago
    No, it just means you're next.
- adwww 5y ago
  You're not a super influential figure with the prime minister in your WhatsApp. Nor did you lobby an entire country to do something stupid to enrich yourself.
thecleaner 5y ago
Curious. Do you have referance to the legal text here ?
tim333 5y ago
It's an oddity of UK tax law that farms are exempt from inheritance tax and so a sensible investment for old rich people who want to pass stuff on. Clarkson's farm was bought for the similar reasons some years before they decided to do a TV show. You don't need odd legal structures - just buy a farm.
- blitzar 5y ago
  The real oddity is that the government takes 40% of your stuff if you die.
  - adwww 5y ago
    If we didn't have that oddity wealth would largely still belong to landed gentry.
    - blitzar 5y ago
      Which it does, as they dont pay any inheritance tax... for the upper tier in society it is openly called a voluntary tax that only the poor (what one might consider middle class I guess) or stupid get stuck with.

brink 5y ago

Bill Gates is doing the same thing. It's annoying. https://agfundernews.com/gates-if-not-for-climate-then-why-is-bill-buying-up-so-much-farmland.html https://agfundernews.com/gates-if-not-for-climate-then-why-i...

verisimi 5y ago
"Despite sustainable agricultural development being one of the key focus areas for his nonprofit Gates Foundation, the Microsoft co-founder claims that his farmland investments are not tied to climate. But while Gates might be solely focused on returns, one should not overlook farmland investing’s potential to drive sustainability on a massive scale." how is a non-profit able to make farmland investments at all? What exactly is the difference between an investment vehicle and a non-profit? But... these guys care for us!
- hellbannedguy 5y ago
  1. His 501c3 gives back less than 1% back to the USA. 2. Personally, I feel like most nonprofits are shady, especially the rich boy tax dodging ones. 3. I have paid a tax on every pc I bought over the years because of him. Will never understand his fans.
- oh_sigh 5y ago
  Because a non-profit in the US just means that they can't distribute profits to the shareholders, not that they can't try to make money. They just need to use their profits to further their mission instead of distributing to shareholders. For example, the Gates Foundation could own a completely conventional farm, and run it like a conventional farm, but any profits they generate could be used to buy and deliver malaria pills to at-need countries (or something like that). That would be an acceptable reason a non-profit owns farmland.
  - missedthecue 5y ago
    The giant German conglomerate Bosch is structured in a similar way. 92% of the company is owned by the Bosch family charitable foundation 'Robert Bosch Stiftung'
  - blitzar 5y ago
    any profits they generate could be used to buy more farms to make more profits to buy more farms with
  - verisimi 5y ago
    sure - it could buy malaria pills, or it could just buy more farms.
dillondoyle 5y ago
I think in the US there are also a good tax breaks for creating 'farms' on your land. Since we give so much subsidy to the industry. IIRC lot of billionaires will get sheep grazing or something like that to claim their mega mansions as farms. I thought I remember Marc Cuban is an example but can't find a quick source. So maybe my memory is wrong on this one.
- 20211215throw 5y ago
  Here in NJ a typical middle class house pays 10-25k/yr in property taxes. But if you have 5 acres and sell a few thousand dollars worth of pumpkins you pay near zero because you're a farm. https://www.nj.com/politics/2019/09/how-to-cut-your-property-taxes-in-nj-start-a-farm.html https://www.nj.com/politics/2019/09/how-to-cut-your-property...

jimnotgym 5y ago

I really dislike Dyson. 1) Move to Singapore, citing that Britain won't join the euro as a factor. 2) EU energy efficiency test goes against his product 3) Campaigns for Brexit I had one of his vacuum cleaners and it was under powered and always needed cleaning inside. I got a Meile with a bag afterwards. Much more powerful for less money.

jimnotgym 5y ago
Then the ventilators thing happened. "Don't give resources to medical firms that know how to build ventilators...give it to Dyson who will build it faster, better...unapproved and a complete failure https://www.theguardian.com/technology/2021/apr/22/covid-lancashire-firm-wades-into-dyson-ventilators-row https://www.theguardian.com/technology/2021/apr/22/covid-lan...
- verytrivial 5y ago
  And stitching up getting Dyson as one of only two brands of approved air ventilation in state schools. Grifter.
  - deleted 5y ago
    [deleted]
- AngusH 5y ago
  Although it looks like Dyson was not actually paid anything and covered the £20m development cost themselves: https://www.bbc.co.uk/news/business-52409359 https://www.bbc.co.uk/news/business-52409359
rootusrootus 5y ago
It's hit or miss. For a plug-in vacuum, there are others I would choose first. But for a cordless stick vacuum, nobody else is comparable.
- chrisseaton 5y ago

turtlebits 5y ago

I don't get why people hate him so much. I already do the most that I can to reduce my tax basis, is that immoral? I know several people who have moved to Nevada/Texas to avoid paying estate taxes.

8note 5y ago
Yep, it's immoral, and it gets more immoral the richer you get.
klyrs 5y ago
With great power comes great responsibility. If you're not a billionaire, the so-called* hatred isn't directed at you and you shouldn't be taking it personally. * not hatred, actually, just greater expectations of those with greater power
- CamperBob2 5y ago
  No, it just means you're next.
adwww 5y ago
You're not a super influential figure with the prime minister in your WhatsApp. Nor did you lobby an entire country to do something stupid to enrich yourself.

thecleaner 5y ago

Curious. Do you have referance to the legal text here ?

tim333 5y ago

It's an oddity of UK tax law that farms are exempt from inheritance tax and so a sensible investment for old rich people who want to pass stuff on. Clarkson's farm was bought for the similar reasons some years before they decided to do a TV show. You don't need odd legal structures - just buy a farm.

blitzar 5y ago
The real oddity is that the government takes 40% of your stuff if you die.
- adwww 5y ago
  If we didn't have that oddity wealth would largely still belong to landed gentry.
  - blitzar 5y ago
    Which it does, as they dont pay any inheritance tax... for the upper tier in society it is openly called a voluntary tax that only the poor (what one might consider middle class I guess) or stupid get stuck with.