Philip Green’s wealth has shrunk as Arcadia’s fortunes have faded
Well, yes, that’s how capitalism works. Own something going up in value you get richer. Own something on the downside you get poorer. That’s rather the point of the system in fact.
This though is a lie:
A large chunk of that money came from a £1.2bn dividend in 2005, the biggest in British corporate history. No tax was paid on the dividend paid to Tina Green because of her base in tax-free Monaco.
Corporation tax was paid before that distribution. For that’s how the tax system works. Dividends are taxed at the corporate level before distribution.
