FabSwingers.com > Forums > Virus > Tesco's to hand back all the furlough scheme money.
Tesco's to hand back all the furlough scheme money.
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By (user no longer on site) OP
over a year ago
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Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work. |
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By *ovelybumCouple
over a year ago
Tunbridge Wells |
Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!! |
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By (user no longer on site) OP
over a year ago
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"It’s not furlough money, it’s business rate relief that it received as support through the pandemic.
I don’t think Tesco furloughed any of their staff"
It was badly worded sorry. |
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"Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!! "
Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? |
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By (user no longer on site) OP
over a year ago
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"Wonder how many other supermarkets will follow suit? 
Morrisons have done likewise."
That's great.
I hope most do. I'd say there will be some reporters who'll latch on to those who haven't.
The money was intended for those who were/would struggle and if they weren't then we're they really entitled to it? |
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By *ax777Man
over a year ago
Not here |
"Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!!
Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "
It has nothing to do with Capital Gains. It would be subject to Corporation Tax, it at 18% so they would still benefit by 82% .
The reason it’s being paid back is that there was a backlash when Tesco paid a dividend to shareholders after receiving the relief. |
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By (user no longer on site)
over a year ago
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"Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!!
Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ?
It has nothing to do with Capital Gains. It would be subject to Corporation Tax, it at 18% so they would still benefit by 82% .
The reason it’s being paid back is that there was a backlash when Tesco paid a dividend to shareholders after receiving the relief. "
This is what I was going to say; they gave the extra money to shareholders. If they hadn't been criticised/caught they would have 100% kept it. |
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By *cadMan
over a year ago
Liverpool |
Amazing?? Get a grip, they were shamed into it.
They did this for nothing other than brand preservation, as they (and other retailers who have done well out of COVID) have come under increasing pressure and scrutiny to do so.
They were okay to pay £300 million dividends to shareholders, but only after immense pressure they buckled and agreed to pay the relief fund back.
Had nobody in the media collared them over it, they'd still be happy to continue without paying the money back. |
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It's good PR for them having it in the news now, with Christmas shopping underway.
They're still open with reduced hours, so have done very nicely over this period. Still as hard to find staff on the shopfloor to help though.  |
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By (user no longer on site)
over a year ago
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"Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!!
Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "
you pay corporation tax on profit
capital gains tax is a personal tax paid on would you believe it ... capital gains |
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"Amazing?? Get a grip, they were shamed into it.
They did this for nothing other than brand preservation, as they (and other retailers who have done well out of COVID) have come under increasing pressure and scrutiny to do so.
They were okay to pay £300 million dividends to shareholders, but only after immense pressure they buckled and agreed to pay the relief fund back.
Had nobody in the media collared them over it, they'd still be happy to continue without paying the money back."
This..
There's little other than this to say, certainly it's not been done because they wanted to.. |
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By *extasy19Couple
over a year ago
Northampton |
Tesco acted because they had come under huge pressure from the press and the "red wall" Conservatives - their board was hammered in a Zoom call led by Esther McVey. According to The Times today they were being threatened with a covid windfall tax and Tesco had an emergency two day long board meeting on Tuesday and Wednesday. Alistair Osborne was scathing of their motives this morning. Once Tesco moved the rest had to follow. |
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"What about instead of giving it to the government give it to all the nurses and doctors who are not getting a pay rise.
Or use it to build homes for homeless people"
The Dr and nurses are getting a pay rise, it was agreed before Covid and the government are honouring it, however they are not getting separately agreed pay rise like the police and other public sector workers as theirs was already approved.
And yes the NHS pay rise is approx 4.4% compared to the 1% the others are getting.
Don't believe |
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"What about instead of giving it to the government give it to all the nurses and doctors who are not getting a pay rise.
Or use it to build homes for homeless people
The Dr and nurses are getting a pay rise, it was agreed before Covid and the government are honouring it, however they are not getting separately agreed pay rise like the police and other public sector workers as theirs was already approved.
And yes the NHS pay rise is approx 4.4% compared to the 1% the others are getting.
Don't believe everything you read in the papers."
I miss quoted above, it's the nurses that are getting an average of 4.4%, Dr's and other staff are under separate negotiations, so will receive a different %.
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By (user no longer on site)
over a year ago
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"And Aldi now  Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too."
This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell. |
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By *ostafunMan
over a year ago
near ipswich |
"And Aldi now Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too.
This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell. "
Well only the people who made the decision know the real reason everything else is peoples personal opinions,i dont care either way as long as the right thing is done in the end and will support those who have. |
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By *andsCouple
over a year ago
south birmingham |
"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work."
why did they take it in the first place, bit like the mp's with the pay rise, no morals. |
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By *ax777Man
over a year ago
Not here |
"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.
why did they take it in the first place, bit like the mp's with the pay rise, no morals."
In fairness, it was available to all businesses at the beginning of the pandemic and at that stage no one knew how it was going to play out, so I would imagine the take up was pretty much 100% |
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By (user no longer on site) OP
over a year ago
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"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.
why did they take it in the first place, bit like the mp's with the pay rise, no morals."
No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't. |
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By *andsCouple
over a year ago
south birmingham |
"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.
why did they take it in the first place, bit like the mp's with the pay rise, no morals.
No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't. "
Name those that are in it for the people. |
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By *ostafunMan
over a year ago
near ipswich |
"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.
why did they take it in the first place, bit like the mp's with the pay rise, no morals.
No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.
Name those that are in it for the people."
You could turn that around and ask to name the ones that you think are in it for themselves and on what evidence.  |
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By (user no longer on site)
over a year ago
|
"And Aldi now Is that right? i was only going to use tesco and morrisons from now on but if aldi have i will still use them too.
This is the problem; it's now a good PR move for them when actually it was a decision that came from them being greedy as hell. Well only the people who made the decision know the real reason everything else is peoples personal opinions,i dont care either way as long as the right thing is done in the end and will support those who have."
*takes deep breath*
... Nah, I can't be bothered. |
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By *eavenNhellCouple
over a year ago
carrbrook stalybridge |
"Not furlough money but money saved from business rates.
The example other big business which haven't been affected from the pandemic should follow. There are also calls for the money to be handed to the pub sector, which is struggling hardest from the restrictions.
Tumbs up Tesco!!!
Or is it that if they keep it the profit will go up and there will be more to pay in capitalgains tax ? ? "
think its more to do with them quite rightly being criticised for paying out large dividends to share holders whilst benefiting from this Tax relief .suspect the rest are now following suit so as not to come under the same criticism |
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By *andsCouple
over a year ago
south birmingham |
"Think is is amazing and says a lot about the company.
Certainly good to see in the light of so many companies that have taken the furlough money whilst still encouraging staff to work.
why did they take it in the first place, bit like the mp's with the pay rise, no morals.
No comparison. Also not all MPs are as you label them either, probably the complete opposite but you obviously judge all by a few... Much like saying most fabbers are twats, but some aren't.
Name those that are in it for the people.You could turn that around and ask to name the ones that you think are in it for themselves and on what evidence. "
Good answer, like a polititions reply. Judging by the state of everything they do, or dont do, i'd say the majority. |
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By *eavenNhellCouple
over a year ago
carrbrook stalybridge |
"If Tesco's didn't hand it back I wonder if there would be calls for them to hand it back"
There already were after they paid out a dividend to share holders that near enough matched the amount they received
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By *abioMan
over a year ago
Newcastle and Gateshead |
"Sainsbury's have and Asda,not sure about the others
M&S said on Friday that they were not planning to return it bore the coop "
the co-op dont give out dividends.....
they are owned in effect by customers and all theirs "profits" go back into the business'
they are in effect different from the rest of the shops mentioned is the own from priate business and were giving out the the business rates relief to shareholders.... |
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