Friday, March 29, 2019

When the taxman chases the recently departed

A few weeks after Bernie died, his sister, Susie, intercepted a letter sent to him by HMRC. It was a request for a tax return.

Susie took the letter to her accountant who, after asking a few questions, suggested she reply as follows and pp the letter 'from Bernie (deceased)':
One of the advantages of having died is that there is no tax in heaven. It's a beautiful place. When I was alive I paid tax through the PAYE system and had not had any direct dealings with the taxman for many years. I can't say I'm that fussed about the outstanding return as I had no unearned income and left very little in the way of an inheritance for my sole living relative, my sister. Also, such matters seem so mundane since my recent demise. I might add that I have not yet met anyone from HMRC up here!

Friday, March 22, 2019

How to persuade the taxman your dog is a tax deductible business expense

Many years ago a publican had a meeting with a tax inspector in his pub. The publican had been claiming tax relief in respect the upkeep of his 'guard dog' but the taxman was unwilling to concede that this was acceptable.

The publican pointed out that upstairs in the pub were both the dog and the lunchtime takings. He invited the taxman to go upstairs, on his own, and if the taxman returned with the takings the publican would agree to add back the disputed expenses.

The taxman's refused to go upstairs and allowed the expense in full.

My thanks to Barry Jefford of George Hay, Chartered Accountants, for the story which was told to him by his client, being the publican in question.

Friday, March 15, 2019

Popular searches about tax and accountants

Listed below are some of the suggestions from Google based on popular searches.

Why is tax....
                      .... so high
                      .... important
                      .... theft
                      .... avoidance legal
                      .... avoidance unethical
                      .... going digital

Why are accountants....
                                     .... paid so much
                                     .... so boring
                                     .... so expensive
                                     .... so busy in January
                                     .... paid so little
                                     .... so arrogant
                                     .... underpaid
                                     .... in high demand

Friday, March 08, 2019

Famous classic films remade especially for accountants

Star Wars: Tax Return of the Jedi
Double Entry Indemnity, shown with: Double Insolvency
Journal to the Centre of the Earth
Abridged Too Far
Audit About Eve, and the follow up: Auditors of the Lost Ark
Trial balance of the century
VAT on a Hot Tin Roof
Evasion of the income snatchers
Far From the Adding Crowd
The Returns Of The Pink Panther
The Jungle Bookkeeper
Close enough encounters
Indiana Jones And The Ledgers Of Doom
Fatal subtraction, and the sequel: Fatal deduction

Any more?

Friday, March 01, 2019

6 fun quotes showing what Americans think about paying taxes

“The government deficit is the difference between the amount of money the government spends and the amount it has the nerve to collect.” – Sam Ewing
“And now I lay me down to sleep. I pray the Lord my soul to take, if the tax-collector hasn’t got it before I wake.” – Ogden Nash
“There’s nothing wrong with the younger generation that becoming taxpayers won’t cure.” – Dan Bennett
“Worried about an IRS audit? Avoid what’s called a red flag. That’s something the IRS always looks for. For example, say you have some money left in your bank account after paying taxes. That’s a red flag.” – Jay Leno
“Tax day is the day that ordinary Americans send their money to Washington, D.C., and wealthy Americans send their money to the Cayman Islands.” – Jimmy Kimmel
“It’s income tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta.” – D. Barry

"Morton's Fork" - the rock and a hard place options for taxpayers

The expression "Morton's Fork" originates from a policy of tax collection. It was devised by John Morton, who was Lord Chancel...