Charlie's Tax Return (from The West Wing)

The 3 short clips linked up here are a delightful reminder of how wonderful was the TV show, The West Wing. And even though it addresses US taxes the reason for the discrepancy can just as easily arise under the UK's PAYE system.

The bar at the Taxation Awards

Stephen Mangan was the host at last week's Taxation Awards. This is an annual event for 600 of the UK's top tax advisers - and a few hangers on like me.

Mangan did a superb job. Worth a mention on this blog were his observations after he announced that following the awards ceremony there would be a cash bar.

"A cash bar? At the Taxation awards? Make sure you keep your receipts!"

Oh well. maybe you had to be there...

What do you give the man who has everything?

A tax investigation!

Hidden money away and not told the taxman? Your options...

The following suggestions are those of Phil Hodgen. He has offered this advice especially for those who have hidden money away in Lichtenstein banks, lied and not declared the interest on their accounts:

• Jump up and down and say “It’s not right! The government can’t do illegal stuff like that!” (Response: So what? Cat. Bag. Out.) 
• Sit tight and do nothing. (Response: Inevitable merely postponed. Pain handed to your kids because you won’t deal with it.) 
• Run away to Panama. (Saw that happen last week for a US citizen I know. He is a fugitive for the rest of his life.) 

Or you can be a grown up and clean up your mess. (Why make a money problem into a jail problem?)

A unique way to encourage clients to file their tax returns early

What it takes to become a professional accountant

Every now and then I come across a US video about accountants that I feel fits on this site. I've just become aware of the CPA 2014 Rule the Tube video competition and one of the finalist videos made me really smile. Hope you like it too.

The accountant with a special time clock

There was an unscrupulous accountant who always overcharged his customers.

He had a special clock built that ran faster than other clocks. It ran at nearly twice the speed of a normal clock so that 1 hour would appear as 2 hours. He then tracked his time by using the fast clock and in essence doubled his billing hours.

He bragged about his overcharging process to his close friends and his wife. He also bragged about other topics such as his golf score, his time in running the mile and his endurance when being intimate with his wife.

The latter was his most proud accomplishment. Therefore, it took him by surprise when his wife filed for divorce a year later. He remonstrated with her “Dear why would you leave me? I have given you money, a fine house, companionship and a great love life!”

She replied, “True, you have given me money and a fine house – although by ill gotten gains. Your companionship is shallow because you only think of yourself AND as to your skills in the bedroom, I just wanted you to know that I had a clock made just like the one you use at work!”