Chronic :
What is "wiser" is often about already seeing/done things (right or wrong) that you have yet to experience (always learn from your mistakes - better to learn from those of others) .
As a working adult I have experienced 3 recessions.
The first (1990 onwards) I got hit by the IR. Did wrong, but they were in "blood" mode. Actually continued doing it until the legislation changed (too late IR - your 7 seven yrs review period has LONG GONE !!! ) , but because the economy has picked up again, I slipped under the radar.
This one, same tactics again. That is how it goes.
Much of big tax law seems to go where the IR have a lot to lose (VAT repayments to big business etc) , or they want to set a case law precedent where statute law does not exist (IR35, "income splitting" etc) .
Much of the latter affects small fry, and they really try "sledgehammer to crack a nut" tactics.
Small fry are easier and cheaper....... value for money. The reason the government cut a deal with Vodaphone is because they can afford good lawyers so any money the Government got out of them would have been diluted by the costs.
The papers don't like reporting good news. Take the deal with the Swiss banks. The UK is likely to get an extra £1.5billion in tax this year from them but all the papers focus on is the fact that the details of who has Swiss bank accounts will remain anonymous. You just have to balance up morals with cold hard cash at times like this.
Is harry taking to many drugs?
Page 3 of 3
posted on 28/8/11
RDBD. you seem older and wiser so i will listen
posted on 28/8/11
Chronic :
What is "wiser" is often about already seeing/done things (right or wrong) that you have yet to experience (always learn from your mistakes - better to learn from those of others) .
As a working adult I have experienced 3 recessions.
The first (1990 onwards) I got hit by the IR. Did wrong, but they were in "blood" mode. Actually continued doing it until the legislation changed (too late IR - your 7 seven yrs review period has LONG GONE !!! ) , but because the economy has picked up again, I slipped under the radar.
This one, same tactics again. That is how it goes.
Much of big tax law seems to go where the IR have a lot to lose (VAT repayments to big business etc) , or they want to set a case law precedent where statute law does not exist (IR35, "income splitting" etc) .
Much of the latter affects small fry, and they really try "sledgehammer to crack a nut" tactics.
posted on 28/8/11
Small fry are easier and cheaper....... value for money. The reason the government cut a deal with Vodaphone is because they can afford good lawyers so any money the Government got out of them would have been diluted by the costs.
The papers don't like reporting good news. Take the deal with the Swiss banks. The UK is likely to get an extra £1.5billion in tax this year from them but all the papers focus on is the fact that the details of who has Swiss bank accounts will remain anonymous. You just have to balance up morals with cold hard cash at times like this.
Page 3 of 3