Archive for the ‘Banking Euro Crisis’ Category

honourable effort from Pingit but isn’t maths taught at school any more? #education

October 1, 2013 Leave a comment

Jersey Français : Jersey

Jersey Français : Jersey (Photo credit: Wikipedia)

‘Split the bill with Barclays Pingit

We’ve all been there – out for a team lunch or a birthday dinner with a large group of people and, when the bill arrives, you’re left to figure out what everyone owes.

Now you can use the Barclays Pingit in-app calculator to quickly work out how to split the cost, add individual tips and request payments from your friends. So you won’t be left out of pocket’


HM Revenue & Customs: Tackling tax avoidance: Spotlights #QE #BOE #HMRC #tax #taxpayer #saver #pension #hypocrisy

September 9, 2013 Leave a comment

HM Revenue and Customs seen from Parliament Sq...

HM Revenue & Customs: Tackling tax avoidance: Spotlights.

Interesting article from HMRC on tax avoidance.

Go towards the bottom of the page…

Further information, tax planning to be wary of:

Tax planning to be wary of

  • It sounds too good to be true.
  • Artificial or contrived arrangements are involved.
  • It seems very complex given what you want to do.
  • There are guaranteed returns with apparently no risk.
  • There are secrecy or confidentiality agreements.
  • Upfront fees are payable or the arrangement is on a no win/no fee basis.
  • The scheme is said to be vetted by a top lawyer or accountant but no details of their opinion are provided.
  • The scheme is said to be approved by HMRC (it does not follow that this is true).
  • Taxation of income is delayed or tax deductions accelerated.
  • Tax benefits are disproportionate to the commercial activity.
  • Offshore companies or trusts are involved for no sound commercial reason.
  • The involvement of professional trustees is claimed to guarantee that the arrangements succeed.
  • A tax haven or banking secrecy country is involved without any sound commercial reason.
  • Tax exempt entities, such as pension funds, are involved inappropriately.
  • It contains exit arrangements designed to sidestep tax consequences.
  • It involves money going in a circle back to where it started.
  • Low risk loans to be paid off by future earnings are involved.
  • The scheme promoter lends the funding needed.
  • There is a requirement to take out insurance against the failure of the tax planning to deliver the tax benefits.

is it just me, or do some of these sound like the definition of QE?

Common sense?

Carney Cripples Savers for Years With Rates Pledge: U.K. – Bloomberg #savers #pension

September 9, 2013 Leave a comment

cropped-tomb-commonsense.jpgCarney Cripples Savers for Years With Rates Pledge: U.K. – Bloomberg.

Seems a bit harsh to kick Mr Carney in the ‘painfuls’ when his predecessor Mr King failed to even spot the financial crisis. Either way neither will go hungry.

Common sense and fairness, not really!

BBC News – Vodafone: No UK tax to pay on £84bn sale #pension #taxpayer #fairness #HMRC #UK #takingthep

September 3, 2013 Leave a comment


Neon (Photo credit: Wikipedia)

BBC News – Vodafone: No UK tax to pay on £84bn sale.

What an absolute disgrace.

So whilst hard-working honest people pay through the nose for the mistakes of the banks and the treasury over the past few years, corporate UK walks away again, laughing in the face of HMRC!

No wonder the UK stock market is near a high.

Want to solve the financial crisis and budget deficit? Don’t look at me, look at the NON taxpayers.

Common sense, has the UK government or HMRC got any?

Legal & General, just wondering how this works? #pension #saver #savers #prudence #savings

August 7, 2013 Leave a comment

no wonder the younger generation don't bother saving!

no wonder the younger generation don’t bother saving!

Despite announcing a profit after tax up 15% to £464m yesterday, I was shocked to receive my pension statement this morning showing the following.

According to my statement my fund value has increased by 17% over the past 6 months. Not bad at all to be honest. So why has my projected pension  actually decreased in value?

Something not right here surely?

Common sense, don’t save, just spend spend spend!

Payday Loans Firms Face Competition Inquiry #RBS #Lloyds #Cable #loanshark

English: Cash Advance, Payday Advance Store Ou...

English: Cash Advance, Payday Advance Store Outlet in Toronto downtown. (Photo credit: Wikipedia)

Payday Loans Firms Face Competition Inquiry.

Well this is a refreshing start.

But I could save everyone a lot of time and money by letting you know that if our high street banks started to support ‘individuals’ in their time of need by lending money at sensible rates, the payday industry would simply disappear.

After all it’s not rocket science, just common sense.