Government plans "Backdated Tax"
Discussion
Read in The Telegraph today that the Government are planning to introduce the power for the Inland Revenue to go back and impose what they consider to be "proper tax" on all those whom they deem as underpayers.
This will be backed dated to Dec 2nd 2004.
So if from that date the IR think that you are not paying enough tax then they can re-assess your tax and insist on you paying more!
This is particularly aimed at the self-employed and small businesses, so beware.
Guess who's bright idea this was? Dawn
in' Primarolo that's who, the bright spark behind IR35.
Last one out of the country please switch the light off...........
This will be backed dated to Dec 2nd 2004.
So if from that date the IR think that you are not paying enough tax then they can re-assess your tax and insist on you paying more!
This is particularly aimed at the self-employed and small businesses, so beware.
Guess who's bright idea this was? Dawn
in' Primarolo that's who, the bright spark behind IR35. Last one out of the country please switch the light off...........
Red Dawn is also considering a similar scheme for some of the various £££ big company and 'considerably more wealthy than yow' individual tax avoidance schemes that currently have to be notified to the Revenue. Gordon has a big hole somewhere other than between his rather slack jaws, and while we could think of appropriate fillers, Red Dawn has folding (yours and mine) in mind.
Whatever they may say its trousers down for the last 7 years, if you cannot counter the fantasyland estimate and your deemed status.
I'm more worried about the amalgamation of Revenue and Customs.
They make the rules up as they go along, what you believe to be correct today will not be true for tomorrow or even yesterday.
If you were to ask why the rent for their offices is paid into an offshore account and isn;t that illegal, expect more than a poke in the eye.
>> Edited by viggen114 on Monday 31st January 23:41
I'm more worried about the amalgamation of Revenue and Customs.
They make the rules up as they go along, what you believe to be correct today will not be true for tomorrow or even yesterday.
If you were to ask why the rent for their offices is paid into an offshore account and isn;t that illegal, expect more than a poke in the eye.
>> Edited by viggen114 on Monday 31st January 23:41
Never had a problem with Custons & Excise, they always seem very good. Have dealt with them for the last 10 years regarding paying VAT and also importing cars from the US and they are professional and you know where you stand. Don't always agree with the import duty but they are just implementing Govewrnment policy.
IR on the otherhand have always been incompetent and it is always "my fault" never theirs. They have moved my tax office at least 6 times in the 10 years and then wonder why they cannot find all of my records......but that is "my fault" not theirs.
I have given up on them and haven't told them I have moved
That will no doubt be a punishable offence so expect to see me being publicly flogged in a town near you soon.......
IR on the otherhand have always been incompetent and it is always "my fault" never theirs. They have moved my tax office at least 6 times in the 10 years and then wonder why they cannot find all of my records......but that is "my fault" not theirs.
I have given up on them and haven't told them I have moved
That will no doubt be a punishable offence so expect to see me being publicly flogged in a town near you soon.......
If that's true (backdated Tax), my thoughts of emigrating to The Bahamas has now reached dizzy new heights - from a 'strong possibility' to a 'near certainty'. The more people that do the same the better - let the country experience a 'loss' to bring the Governemnt to its senses, I say.
Sounds like nonsense scaremongering to me.
Don't local councils pitch their local taxes (Council Tax/Business Rates etc) to the requirements of the local area in any case? In fact, since the 1980s most councils have been held in restraint by central government with various devices (such as "capping") used to PREVENT councils from levying as much as they'd really like to.
Maybe Prescott is hinting that capping may be relaxed.
At the moment, because of capping, councils rely on central government for 75% of their income.
>> Edited by Eric Mc on Tuesday 1st February 12:00
Don't local councils pitch their local taxes (Council Tax/Business Rates etc) to the requirements of the local area in any case? In fact, since the 1980s most councils have been held in restraint by central government with various devices (such as "capping") used to PREVENT councils from levying as much as they'd really like to.
Maybe Prescott is hinting that capping may be relaxed.
At the moment, because of capping, councils rely on central government for 75% of their income.
>> Edited by Eric Mc on Tuesday 1st February 12:00
Eric Mc said:
Sounds like nonsense scaremongering to me.
Don't local councils pitch their local taxes (Council Tax/Business Rates etc) to the requirements of the local area in any case? In fact, since the 1980s most councils have been held in restraint by central government with various devices (such as "capping") used to PREVENT councils from levying as much as they'd really like to.
Maybe Prescott is hinting that capping may be relaxed.
At the moment, because of capping, councils rely on central government for 75% of their income.
>> Edited by Eric Mc on Tuesday 1st February 12:00
I don't wish to be pedantic, but it's not "The Government" who pays it's "the Tax payer".
You ARE being pedantic. Of course it's the taxpayer who pays it and don't we know it.
It is the greatest disservice Mrs Thatcher did to this country - she effectively destroyed Local Government by removing their ability to raise income locally.
Unfortunately, up to now, this government have seen fit to continue this approach.
Edited to state that I think I've confused myself over which "tax" thread I've responded to - DOH!
>> Edited by Eric Mc on Tuesday 1st February 12:17
It is the greatest disservice Mrs Thatcher did to this country - she effectively destroyed Local Government by removing their ability to raise income locally.
Unfortunately, up to now, this government have seen fit to continue this approach.
Edited to state that I think I've confused myself over which "tax" thread I've responded to - DOH!
>> Edited by Eric Mc on Tuesday 1st February 12:17
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff