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Comment Re:So the taxes were collected from salaries inste (Score 2) 244

And Facebook has been around for longer than 2012, 2013, 2014 and 2015, so its had time to accrue year on year liabilities like this. Facebook hasn't just taken one single liability, its actually done the intelligent thing and spread the liabilities out across the years so it doesnt get hit with one £300Million bill.

Comment Re:So the taxes were collected from salaries inste (Score 2) 244

You do pay out that £35Million if its been on the books as future liabilities and it matures in the current financial year, so long as your cash flow allows you to.

The problem here is the confusion that deferred bonuses and share options creates in situations such as these - the options and bonuses were earned in previous years, and matured in these accounts financial years, so it generates an "odd" impression of the current years accounts.

Comment Re:Transfer pricing (Score 1) 244

If you actually bother to read the accounts, licensing in this regard counts for basically nothing of Facebook UK's accounts during the previous financial period - its very very easy to actually see where the money is going, and the bulk of it was on wages and share options maturing for staff, which have long been booked as future liabilities.

Comment Re:So the taxes were collected from salaries inste (Score 3, Informative) 244

In the UK a corporation takes in revenue - from that revenue, it deducts all necessary outgoings such as operating expenses, wages, investment, acquisitions (asset or otherwise) etc etc. What is left is the profit. Corporation Tax is based on that profit.

According to the full accounts, Facebook made a loss of £28.4Million in the previous financial year off of a turn over of £104Million (the accounts list "administrative expenses" of £131.5Million on that turn over).

The bulk of that administrative expense was staff related costs - a wage bill of £40.8Million, and a deferred share based payments charge of £35.5Million, which along with employers contributions totals £86.3Million.

The figure of £4,327 is based on the loss, as a nominal figure.

The figure of £35Million is based on share options and grants maturing for staff - they aren't straight bonuses, they have been on the books for a long time.

Comment Re:Uh huh. (Score 1) 479

Wolfgang Hatz, developer of Porsche’s Formula One and Le Mans racing engines

Thats hardly a glowing CV, as Porsche hasn't had an involvement in F1 in nearly 25 years - and even then, its last involvement was with an engine so poor it failed to score a single point and indeed failed to qualify for half the races...

Comment Re:We trust what Uber says now? (Score 4, Insightful) 103

Just like a restaurant which doesn't give a toss about minimum wage, where its ingredients come from, the cleanliness of the kitchens or the reliability of the refrigeration - but the customers love the public face, service and price, so that restaurant should be given a break when it comes to following the rules other restaurants have to abide by...

Comment This ruling won't fix anything (Score 5, Insightful) 203

Simply keeping the data in the EU won't fix anything so long as that data is still being held by US controlled entities, as those entities will still be forced to hand over the data regardless of where it is (lets face it, Microsofts battle against that particular issue is destined to fail).

The only real way this is going to be solved is to force all EU data to be stored by entities that are not owned or controlled by a non-EU entity. Which means Amazon SaRL will be unconnected to Amazon.com and effectively competing against each other.

Comment Re:This was not a screw-up (Score 1) 408

We do not have a deep submergence communication system, only a system which requires the patrol subs to be at a given depth to be able to receive a communication at a set time during their patrol.

Without a method to contact the subs at depth, we have no ability to authorise a launch on demand so instead we use a beacon system - if the sub doesnt detect a transmission at the predetermined time, and they also dont detect several other 24/7 transmissions, then the Captain opens a letter the PM has issued the Royal Navy, and follows the instructions in that letter.

Comment Re:This was not a screw-up (Score 3, Informative) 408

The system the Royal Navy uses to come to a decision as to whether to launch or not is purely cost based - our nuclear deterrent launch authority is independent to that of the US, so we cant use their infrastructure to issue launch authority as that may be denied to us on occasion. Since replacing that infrastructure is a big and costly venture, unjustifiable for the two submarines that are on armed patrol, we use a simpler system.

As we havent had an issue yet, I'd say its perfectly adequate...

Comment Re:What about the rights of those injured by firea (Score 1) 1164

Its interesting that in the US Constitution, the right to bear arms came before the right for black people to not be treated as property. There's something fundamentally wrong with that, and yet the US Constitution is upheld as something the world should admire and strive to work toward...

You've been Berkeley'ed!