Lets not forget that bookmakers do keep records, and any punter that consistently wins, or even beats the odds with sufficient regularity that the bookies calculate that the punter will win in the long run, either gets banned or has stakes reduced to pennies.
A "three strikes and you're out" system would certainly see the HMRC helplines closed. And there would need to be a new system to replace HMRC issuing tax codes.
It makes you wonder if we really need HMRC. Let the accountants be responsible for issuing penalties to their clients who miss deadlines or don't pay on time, and make accountants investigate competitors clients returns (one investigation for every 100 returns you submit) in return for 50% of any extra tax they recover. We do everything else, this would be a small price to pay to get rid of a load of bureaucratic inefficiency.
Just tax the lot, sweets, cakes, biscuits, confectionery, you name it, anything similar, at 20%. No more arguments. Government gets a bit extra in the coffers. Everyone is happy, apart from the fatties.
Given that eBay do no due diligence on new buyers/sellers, and are happy for business sellers to register as private sellers (and so not have to accept returns, not have to display their name and address anywhere, and presumably not pay tax) and eBay take a cut of these illicit profits, are eBay guilty of money laundering? If so, the scale of the problem suggests that the size of the fine would wipe out the national debt.
If past budgets are anything to go by then we will hear all the important bits over the next 8weeks as they are leaked to the press. Then the changes that get favourable press will find their way into the budget speech, while the least favourable will be dropped.
The letter being sent to agents states: “We need your help..."
Dear HMRC, Thank you for your letter requesting our help. Please find enclosed a schedule of our fees, terms and conditions, a money laundering statement, and a letter of engagement etc etc".
When self assessment started there was no indexation for overlap relief on the grounds that you could use it whenever you liked. Now that taxpayers are being forced to use overlap relief they should be given an indexation uplift as the choice has been removed.
Employers NIC should be based on the total wage bill, not the pay of individual employees. It is one of the reasons many large employers have loads of staff on 2 day weeks which, as well as reducing the Employers NIC payable compared to similar hours by full time staff, also often increases the benefits bill.
My answers
Lets not forget that bookmakers do keep records, and any punter that consistently wins, or even beats the odds with sufficient regularity that the bookies calculate that the punter will win in the long run, either gets banned or has stakes reduced to pennies.
A "three strikes and you're out" system would certainly see the HMRC helplines closed. And there would need to be a new system to replace HMRC issuing tax codes.
As anyone who takes the Guardian/Daily Mail* will know, toilet rolls are a luxury and are far from essential.
*delete as you see fit.
It makes you wonder if we really need HMRC. Let the accountants be responsible for issuing penalties to their clients who miss deadlines or don't pay on time, and make accountants investigate competitors clients returns (one investigation for every 100 returns you submit) in return for 50% of any extra tax they recover. We do everything else, this would be a small price to pay to get rid of a load of bureaucratic inefficiency.
Just tax the lot, sweets, cakes, biscuits, confectionery, you name it, anything similar, at 20%. No more arguments. Government gets a bit extra in the coffers. Everyone is happy, apart from the fatties.
Given that eBay do no due diligence on new buyers/sellers, and are happy for business sellers to register as private sellers (and so not have to accept returns, not have to display their name and address anywhere, and presumably not pay tax) and eBay take a cut of these illicit profits, are eBay guilty of money laundering? If so, the scale of the problem suggests that the size of the fine would wipe out the national debt.
If past budgets are anything to go by then we will hear all the important bits over the next 8weeks as they are leaked to the press. Then the changes that get favourable press will find their way into the budget speech, while the least favourable will be dropped.
The letter being sent to agents states: “We need your help..."
Dear HMRC, Thank you for your letter requesting our help. Please find enclosed a schedule of our fees, terms and conditions, a money laundering statement, and a letter of engagement etc etc".
When self assessment started there was no indexation for overlap relief on the grounds that you could use it whenever you liked. Now that taxpayers are being forced to use overlap relief they should be given an indexation uplift as the choice has been removed.
Employers NIC should be based on the total wage bill, not the pay of individual employees. It is one of the reasons many large employers have loads of staff on 2 day weeks which, as well as reducing the Employers NIC payable compared to similar hours by full time staff, also often increases the benefits bill.