Archive

Posts Tagged ‘Tax’

Morally wrong and unfair #London #unfair #taxation #takingadvantage #commonsense #taxpayer #TFL


Here’s another list that I should have started years ago but hey ho….

This slideshow requires JavaScript.

1. June 2014 London Congestion charge to rise by 15%. Ever heard of inflation Boris? Just in case you haven’t, it’s currently about 2%, so where’s the justification in a 15% rise in this TAX?

2. July 2013 Diplomats owe over £60m in unpaid congestion charge fines. Just beggars belief in this day and age!

 

 

 

Watch this space for more hypocrisy…

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?

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

September 3, 2013 Leave a comment

Neon

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!

ECB official says proposed transaction tax may not be worth it – Independent.ie


German Logo of the ECB.

German Logo of the ECB. (Photo credit: Wikipedia)

ECB official says proposed transaction tax may not be worth it – Independent.ie.

Another lightbulb moment from the ECB, if only they could see the nonsense of Basel III as well, then everything could get back to normal.

Time for this nonsense to stop #Apple #tax #morality #cheating #evasion


English: Apple's headquarters at Infinite Loop...

English: Apple’s headquarters at Infinite Loop in Cupertino, California, USA. (Photo credit: Wikipedia)

 

Apple chief calls on US government to slash US corporate tax | Technology | The Guardian.

 

Reading through this article, I can hardly believe my eyes!

 

Apple has admitted stashing tax free cash in Ireland.

 

So why don’t the authorities just make them pay tax on the income?

 

If an individual earns money worldwide, it is taxable irrespective of whether it is repatriated to the individuals country of domicile?

 

Apple is a US company, just man up and pay the tax.

 

Common sense, the morality of paying tax.

 

 

BBC News – Apple ‘among largest tax avoiders in US’ – Senate committee #avoidance #tax #commonsense #windfall #taxation


BBC News – Apple ‘among largest tax avoiders in US’ – Senate committee.

Apple, Amazon, Starbucks, Goldman join the ever-growing list of mega corporates who think it’s ‘clever’ to pay no tax.

What are the authorities doing, oh yes they are chasing honest hard-working individuals who want to own their own home and educate their children.

If you are a corporate or a billionaire, no tax, no problem.

The world has gone totally bonkers.

Commonsense, whatever happened to it? Want to sort the problem out, then windfall tax these big corporates who are cheating society.

Taxation Magazine

Taxation Magazine (Photo credit: Wikipedia)