Tax flags

A British guy was chatting with his American friend and was jokingly explaining about the red, white and blue in our National flag.

"Our flag symbolises our taxes," he said. "We get red when we talk about them, white when we get our tax bill, and blue after we pay them."

"That's the same with us," the American said, "only we see stars, too."

Very thick skinned accountant wanted by boss of Ryanair

I was amused by this headline in The Times: Wanted by Ryanair: accountant, very thick-skinned.

Rarely does an accountancy job qualify as a hazardous posting in a hostile environment. However, there is a vacancy for a personal aide to the notoriously volatile boss of Ryanair.

The Irish airline is advertising for an “assistant to Ryanair’s CEO”, Michael O’Leary, stipulating an “ambitious qualified accountant” able to work in a “demanding, challenging and interesting role”.

Good luck if this appeals and you get the job!

Death and Taxes and Zombies

The following academic paper was brought to my attention after I tweeted a link to a newspaper report that incorrectly implied that more and more people are being 'hit' by inheritance tax while they are still alive.

This article fills a glaring gap in the academic literature by examining how the estate and income tax laws apply to the undead. Beginning with the critical question of whether the undead should be considered dead for estate tax purposes, the article continues on to address income tax issues the undead are likely to face. In addition to zombies, the article also considers how estate and income tax laws should apply to vampires and ghosts. Given the difficulties identified herein of applying existing tax law to the undead, new legislation may be warranted. However, any new legislation is certain to raise its own set of problems. The point here is not to identify the appropriate approach. Rather, it is to goad Congress and the IRS into action before it is too late.

The paper was inspired by the following perception:

The U.S. stands on the precipice of a financial disaster, and Congress has done nothing but bicker. Of course, I refer to the coming day when the undead walk the earth, feasting on the living. A zombie apocalypse will create an urgent need for significant government revenues to protect the living, while at the same time rendering a large portion of the taxpaying public dead or undead. The government’s failure to anticipate or plan for this eventuality could cripple its ability to respond effectively, putting us all at risk. 

Death and Taxes and Zombies was written by Adam Chodorow of Arizona State University (ASU) - Sandra Day O'Connor College of Law and published July 5, 2012
98 Iowa Law Review 1207 (2013) 

With many thanks to Iain Campbell for the link

John Challis on why he didn't become a tax inspector

John Challis tells the story that in the late 1970's he was summoned by one of her Majesty's Tax Inspectors to discuss his meagre contribution to the Inland Revenue.

John notes that he sat before a middle-aged grey suited man who had obviously not seen the light of day for some time and, after a few minutes silence, the Inspector looked up and said: "You seem to be remarkably unsuccessful in your chosen profession, why don't you give it up and do something more rewarding?"

John thought for a moment and replied: "What? You mean become a tax inspector or something?"

"There's no need to be offensive," replied the Inspector.

John says he's rather glad he didn't follow the Inspector's advice. [Since then he's gone onto star as Boysie in Only Fools and Horses and in the spin-off sit com The Green Green Grass]

Dictionary definition (or not) of timesheet

As suggested by Cara Miller of Miller Walsh Associates in an article for Accountancy Age:

Timesheet (noun): swearword commonplace in many a UK accountany office. Bane of life. Likely to cause lots of sighing. Method of keeping boss happy while driving everyone else crazy...

Can you suggest any further definitions?

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...