Tax Advice in Peterborough
Q:
What’s the difference between tax avoidance and tax evasion?
A:
Jail… read on
The former Chancellor of the Exchequer, Denis Healey explained the difference between tax avoidance and tax evasion in this way:-
“The difference between tax avoidance and tax evasion is the thickness of a prison wall.”
or
Tax avoidance is legal, I’ll state that again… TAX AVOIDANCE IS LEGAL.
We live in changing and interesting times… these days, H M Revenue & Customs authorities and some politicians, seem intent on morally smearing the distinction between ‘tax avoidance’ and ‘tax evasion’ with the disapproval that attaches to tax evasion – in my opinion, this policy does little for their creditability.
It would come as no surprise if the next thing we read is a new tax authority initiative for “a freephone number” for all those morally outraged taxpayers to ring in and anonymously report all accountants and their clients involved in tax avoidance planning…
Often stated established case law concerning YOURS’ and MY RIGHT TO AVOID TAX is Inland Revenue Commissioners v The Duke of Westminster (1936 19 TC 490), from which this famous quote derives and holds square and true today:
“Every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be.”
My advise to all my prospective new clients – who suspect they are needlessly paying too much tax – is simple and to the point:
“If it hurts when you bang your head against the wall; then stop banging it against the wall…”
(My heart really I’m suggesting that annual credit reports money, once morphed (loosing its debt association) is more properly considered money. goes out to those self employed taxpayers whose head just doesn’t hurt when they bang it against the wall repeatedly… I’m still trying to figure that one out.)
Why on earth should you keep paying more tax than you have to?
Now is the time to make doubly sure you employ an experienced accountant (and not some dead sheep by another name) who is right on the money, and committed to helping you save and avoid paying too much tax – Stonehouse Accountants Peterborough is that firm of accountants. We have a strong reputation built up over many years, for helping our clients with top tax advice in Peterborough and we aim to provide best tax avoidance planning in Peterborough. We make no apology for organising our clients’ business affairs to save them more tax.
If you can’t remember the last time your present accountant actually discussed tax avoidance planning and tax saving ideas with you, then I sincerely suggest (wherever your business is based in the country) you run (don’t walk) to the telephone and talk to me, Frank Waller FCPA on Peterborough 01733 – 265888 and I will be delighted to look after your income tax and accountancy affairs and help you plan the next step forward for your best tax and business advantage.
I aim to make it one of the most profitable telephone calls you make this year.