Wednesday, 27 June 2012

Where's the money, Paul?

As I should be working, I find myself checking on the accounts relating to Paul Uppal MP's company, Pinehurst Securities. I say 'his' company, but he's only a shareholder: the sole director is one Surjit Uppal.

Now Paul's been rather secretive about the nature of the business, but he hasn't been above boasting to property media that he's made several millions from it over the years, and that it's rather successful. So imagine my surprise at discovering that it's on rather a downward trend of late (accounts relate to 2011 - click to enlarge).

There's virtually no money in the bank, the net worth of the company has slumped, debts have increased, and the current assets are less than the £50,000 to get a good dinner with a Cabinet Minister.

Now it's hard to believe that Sneaky Paul is so incompetent that he's been caught out by the recession his government has done its level best to exacerbate. But that must be the reason. Surely he wouldn't engineer liabilities and debts to avoid taxation, would he? And that massive slump in cash and assets - he wouldn't be taking money out of the company, would he? Not that there's anything naughty about that, of course. And after all, the £65,000 an MP earns isn't enough to keep a dog in a kennel.

I have to assume - and I'm sure Paul will confirm - that he doesn't use any 'tax-efficient', 'tax-avoiding' or 'tax-evading' measures to reduce his bills. For instance, taking profits as capital gains rather than income…

Anyone know enough about this stuff to express an opinion?

Anyway, Paul won't starve: he's been on a lovely jolly with the Conservative Friends of India, courtesy of the (very poor) Indian government. Wonder what they want in return, and why Paul didn't mention it in his assiduously-maintained publicity?

6. Overseas visits
Name of donor: Ministry of External Affairs, India
Address of donor: South Block, New Delhi 110 011
Amount of donation (or estimate of the probable value): Flights to and from India and internal flights, hotel accommodation, food and other travel costs; total approximately £8,000.
Destination of visit: India
Date of visit: 17-24 September 2011
Purpose of visit: as part of a delegation of the Conservative Friends of India at the invitation of the High Commission in London and the Ministry of External Affairs, Delhi, meeting politicians and businessmen in Delhi and Mumbai.
(Registered 2 November 2011)

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