Charitable Persimmon? Charitable Chief Executive?

Persimmon January 2018 COMMUNITY CHAMPIONS

Persimmon Community Champions is a national programme by the housebuilding company where charities and groups can apply for funding up to the value of £1,000 to match money they have already raised themselves. Groups and charities can apply every month for a donation.

Persimmon Community Champions  is there to fund good causes and 61 UK charities and community groups received total amount of £59,210  from Persimmon in January 2018.

‘Each of Persimmon’s 29 businesses and the PLC head office are giving away up to £2000 each every month that’s a whopping £60,000 a month available to fund local community initiatives’ according to there web site’. (Who defines whopping? not the chief executive!)

Long Term Incentive Plan (Management Bung)

The Persimmon plc Chief Executive, Jeff Fairburn, has just been awarded a bonus in excess of  £100,000,000. Senior managers claim to be entitled to a further £500,000,000. That is taking entitlement to extremes and has stoked the ire of many.

“Jeff Fairburn considers his plans for any charitable giving to be a private matter and will not comment ”. However the story may not end there as a private charitable trust ( yet to be set up) may be used as a maneuver to avoid  HMRC  tax collectors who are looking to collect income tax and capital gains tax.

Would this potential private charitable trust be independent anf charitable (in Fairburn should we trust). For a better example, why not give 90% or more of the £600 million to an established charity working for the homeless. At least there would be some poetic justice.

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