HMRC Is Shite

HMRC Is Shite
Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.

Monday, 12 November 2012

Lord Myners Talks Bollocks



I see that Lord Myners is venting his spleen about tax avoidance and offshore tax havens.

He has accused multinational companies, such as Starbucks, of leeching tax revenue from Britain to tax havens abroad and attacked accountants for allowing it to happen.

He is quoted in the Telegraph:
"Corporation tax for an MNC (multinational company) operating in the UK is close to being a voluntary payment. The problem is that the tax environment many MNCs are interested in is a zero tax environment."
He suggests that a sales tax be imposed.

Don't we already have that in the guise of VAT?

As "interesting" and "stimulating" as Myners's views may be, I find them to be a tad hypocritical given that during the "halcyon" days of the Broone administration Myners was Financial Services Secretary to HMT (2008-2010). I would have thought that if he were so vexed about corporation tax avoidance then he would have said something, and indeed done something, when he had the opportunity.

Oh, and oddly enough, I see that he was chairman of Aspen Insurance Holdings for 5 years, a Bermuda-based insurance company, that managed to avoid more than £100M a year in tax. On top of that Myners was also chairman of Liberty Ermitage, an offshore fund based in Jersey. For good measure, Gartmore, the fund management company that Lord Myners chaired for 15 years, also ran a Jersey-based offshore business.

The word hypocrite springs to mind!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Taxwise.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is TAXWISE?

TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Taxwise



Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.

Click the link to read about: Tax Investigation for Dummies

HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

5 comments:

  1. Oh, I love it Ken. What short memories these people have not to mention 'convenient'!
    Kris

    ReplyDelete
  2. One should examine oneself for a very long time before thinking of condemning others. ~Moliere

    ReplyDelete
  3. I thought the ability to be hypocritical & talk bollocks was top of the job spec for a politician!

    ReplyDelete
  4. Try any pacesetter practitioner or whiteboard scribe!

    ReplyDelete
  5. "Flexible working arrangements make for happier and far more productive employees"
    Nick Clegg Dep PM 08:50 BBC Breakfast TV 13/11/12

    ReplyDelete