BN66 - Round 2 (Court of Appeal)

[smalldog]

I dont remember the original, but the video spells it out so clearly. Gordon Brown is bankrupting the country and leaving a legacy of debt for our children.

There's another video on the website that states "the average Briton will have to work 4 extra years of their life to pay off their share of the debt [created by this govt.]".

I wonder if that's their "fair share" of the debt?

and sorry how exactly am I benefiting from Gordie spending all this debt on my behalf? I haven't been to the doctors in years, or hospital ever. Have private health insurance and I dont have children, if I did they are going to private school anyway. I assume my council tax and road taxes pay for my local public services, police and fire as per the schedule I receive from my council annually, so to reiterate where is my 4 years worth of debt going???

[Emigre]

Fair Share

I think we're all getting carried away here...NOT. Just to put it in perspective, the Govt raised somewhere in the region of £535bn in 2008/09 from all sources. Budget deficit this year is estimated at £178bn (and you can bet that's understated) which is 33%. That is the equivalent to anyone of you lucky enough to receive £60k after tax, overspending through borrowing by £20k in a year.

http://www.hmrc.gov.uk/stats/income_tax/table2-8.pdf

So what's your fair share of tax? Govt receipts of Income Tax come to just £150bn in a year, so if income tax rates at all levels were doubled the deficit would not be covered - worth noting of course that if you were paying 100% tax you wouldn't have too much left to pay NI, VAT, excise duties on petrol, beer, wine, spirits, cigarettes etc etc.

Prudence? I think not.

Where has all the money gone?

[Squicker]

A while ago I was at a social function & found myself sitting next to a barrister who does tax work. He said that until a few years ago the taxpayers and their advisors were sometimes crooked. Now, he said, it is the Revenue that behave like crooks.

I thought that he was using the term loosely until I read the article. What HMRC are doing here is a crime. Can anyone trust a bank to keep information secret if even government bodies buy data that has been stolen by insiders?

Here is the link again:

http://www.accountancymagazine.com/c...UseBVCookie=No

Amazing. So the only people with whom HMRC will cut deals are criminals.

That's sending out a fantastic message, well done.

They do say that the public sector workplace is a collecting ground for the gormless that can't get proper jobs. It now appears to be harbouring a collection of criminals also!

[Vallah]

There's an interview in the latest CIOT magazine with the head of the HMRC anti-avoidance unit:

Clicky

[Tax_shouldnt_be_taxing]

Where has all the money gone?

Emigre,

It's gone on Fractional Reserve Banking. Worth a Google as it shows just how flawed the western banking system is.

[Tax_shouldnt_be_taxing]

There's an interview in the latest CIOT magazine with the head of the HMRC anti-avoidance unit:

Clicky

Hmmm, this extract is particularly interesting:

Where there is no formal consultation process, Walton says that the group tries to make sure there is a forum in place, in which people can raise an issue they are having a problem with. ‘I would certainly hope that if anyone’s got an issue about anything we’ve been doing that people could feel they could drop me a line or give me a ring, and say “Sue, I think you’re stepping over the mark here; do something about it.”

So the new head of AAG is happy for folks to give her a ring. Anybody???

[deckster]

There's an interview in the latest CIOT magazine with the head of the HMRC anti-avoidance unit:

Clicky

Odd that. Lots of stuff on disclosure, detection and closing schemes down quickly. Nothing at all about sitting on returns for eight years, panicking, imposing restrospective legislation and putting families out on the street.

Methinks the CIOT missed an opportunity to ask some probing questions rather than sitting there with their tongues firmly up HMRC's fundament.

[PlaneSailing]

Emigre,

It's gone on Fractional Reserve Banking. Worth a Google as it shows just how flawed the western banking system is.

I'm sure the politicians love having the bankers as hate
figures, as it distracts from certain other expense related
'transgressions'.

The disapperaing billions aren't strictly all with the banks:

According to the NAO

At Budget 2009, the Treasury provisionally estimated that final
net losses across all the financial sector interventions may lie
within a range from £20 billion to £50 billion. The estimate
was set out as a range because of inherent uncertainty over the
potential outcomes from these interventions. The high end of the
range was included in the fiscal projections in Budget 2009. The
Treasury has said it will update this estimate in the 2009
Pre-Budget Report.

which is a lot of money. However:

Britain's financial services industry paid £61.4bn in taxes in the
year to March 2009 – accounting for more than a tenth of total UK
tax receipts – despite the banking-led recession. (PWC research)

So one years worth of tax take will cover the Government's losses and leave
£10-40 billion left over to spend on potholes, hospitals or helicopters.

And in the years before 2009, the Treasury was quite happy receiving
tens of billions of pounds from the sector and didn't feel the need to
complain about excessive profits.

I'm not saying it's right, but as with so many other things, there can
be another view.

[johnnyguitar]

Hmmm, this extract is particularly interesting:

Where there is no formal consultation process, Walton says that the group tries to make sure there is a forum in place, in which people can raise an issue they are having a problem with. ‘I would certainly hope that if anyone’s got an issue about anything we’ve been doing that people could feel they could drop me a line or give me a ring, and say “Sue, I think you’re stepping over the mark here; do something about it.”

So the new head of AAG is happy for folks to give her a ring. Anybody???

Definitely think it's worth someone speaking to her - someone from this 'user community' as opposed to the legal bods. Just to point out that what is happening to us seems to go against her mission statement and to ask if there is room for some understanding here.

[StellaFan]

presumably the contact email address would end with @hmrc.gsi.gov.uk