Thursday, April 30, 2015

Irregular verbs - tax

At it's simplest perhaps we have:

I only pursue approved tax incentives
You look for tax avoidance opportunities
He breaks the law and evades tax

A variation on this is:
I pay all the tax due
You look for easy ways to avoid paying all the tax due
He engages in aggressive tax planning

A new version has just appeared online. It parodies how Margaret Hodge might explain herself following recent revelations about her benefitting from the Liechtenstein Disclosure Facility (LDF) she has ridiculed whilst Chair of the Public Accounts Committee.

I manage my financial affairs sensibly 
 You engage in aggressive avoidance 
 He/She is a slimy tax cheat

This was first posted by Tom McClelland on AccountingWeb.co.uk.

There have been other examples of irregular tax verbs in the past. I spotted this one that relates to the different ways the Coalition government has supported investment in shale gas and the renewables sector.

I receive public spending
You get tax incentives
He gets a subsidy

What further variations can you come up with?

Monday, April 20, 2015

The liar, the Revenue and the wardrobe

A little late to the party on this one, but worth recording for posterity. And yes, the title is a variation on the same theme adopted in most other reports of this story.

A bookkeeper, keen to avoid arrest in connection with a £140,000 VAT fraud, hid in her bedroom wardrobe.  Unsurprisingly, after looking under her bed, the wardrobe was the next place that police officers looked.

The accused, Donna Magee (44), was arrested by HMRC in February 2012. Concerns had been raised by reference to fraudulent VAT repayments for the construction of non-existent new business premises.  She has since been tried, found guilty and sentenced.

Mike Parkinson, of HMRC, explained that the investigation shows that tax fraudsters have "no place to hide".  That is certainly true for those who attempt to hide in their own bedrooms!