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Thursday, 21 June 2012

The latest tax scandel

As many of you may well be aware Jimmy Carr, Gary Barlow and several other indivudals have been highlighted as using dodgey accounting methods to avoid tax.

Basically what they have been doing is loaning their money to external banks and have then been having them loan it back to them.

The Prime Minister is of course "Disappointed" and a big fuss is being made.

Now then, yes I do believe that what these people are doing is unethical, I hate tax avoidance especially since it seems to be the rich who manage it.

However, it has also been made perfectly clear that what they are doing is not illegal.

On this grounds I think it is actually the Government who are being very sneaky and are trying to take some scandel pressure of themselves by making a big deal out of this and making out as though Carr etc are the scum of the earth.

The realistic fact is that they have found a loophole in the system and have exploited it. We all would if we had the chance frankly. The Government has to take half of the blame because the fact is what they are doing is still legal.

If it was made illegal THEN they would have grounds to seriously kick off about it. The recent expenses scandel within the Government was more of an issue because certain things were being claimed illegally.

It's like if you leave an evelope full of money on a bench for five me and come back suprised to find it has vanished. You cannot simply blame the criminal for stealing it because it was half your own stupid fault for putting it there and not assuming it was going to be taken.

If there is a loophole in the system then people are going to exploit it, yes they are sneaky A Holes for taking advantage but if the loophole was not there in the first place it couldn't be taken advanatge of.

If the taxman has a problem with what these people have done they they need to change legislation to make such accounting illegal (which to be honest I think they should with all of these sneaky way s rich people avoid taxes), the poorest get taxed the most... because thats logical.

By the way I'm working on a very gloomy post for my next one, so be warned it's deep. You may want to avoid it.

DFTBA

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