Bespoke Tax Advice to Managing Directors, Owners and high net worth individuals.
On this website, we offer free advice to business owners of key tax issues and opportunities that they should be aware of in order to protect their assets and preserve their private wealth.
Thrasymachus [450 BC] defined justice as the will of the stronger and thus all governments are the same.
Extreme views on the left or the right end up meeting in the same back parking lot where they agree the people are the great unwashed and are too stupid to see they need to be manipulated and controlled. They are like the street magicians who keep moving the shells around in circles to ensure the player picks the wrong one every time.
Whatever the politicians declare to be illegal only renders that target tax-freeand a more viable business.
The point about taxes is rather simple. If government stopped taxing people then political lobbying would stop. If we ended career politicians and returned to citizen democracy, things would become fairer for everyone.
Detroit: Following the City’s bankruptcy in 2013, $9B of unfunded City pension obligations were cancelled.
Japan: – Government debt is now the highest in the world @ 230% of GDP; much of it financed by bonds purchased by Japanese pension funds. How will the government make good on these bonds? Most likely by inflation or default.
UK: – For the past 8 years, there have been continued reductions in allowable tax efficient pension contributions and lifetime allowances [wef Apr14, £1¼M lifetime limit and £40K contributions pa].
You do not have to be subject to these arbitrary restrictions and caps and you can plan for a wealthier retirement. Contact us for further information.
Mark Twain once said, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” And we totally agree with that. When it comes to mitigating tax, you need to understand the importance of knowing what you don’t know.
People who are smart often overestimate what they know, and this tendency can grow, particularly if they are financially successful. This may lead to missed opportunities to save tax because they believe they know better.
George Osborne was full of tough talk on multinational tax avoidance in the Autumn Statement. “We want the most competitive corporate tax system of any major economy.” What Mr Osborne means is that he wants businesses to pay less in corporate taxes in the UK than in any other major economy. And he’s delivering on that.
By a 526 to 86 vote, the EU have passed a regulation that will require an EU country to accept a bailout, if offered. With the Cyprus bailout, a condition was that savers pay a tax on deposits. Who is next? Spain? Ireland? Greece? Let’s be quite clear; the European Union has confiscated the private property of the citizens in Cyprus without debate, legislation or Parliamentary agreement. Pay attention please. The EU, the ECB and the IMF have just advocated the confiscation of private property for their own indulgence.
Will capital controls be introduced by national governments? Bear in mind that the original proposal for Cyprus was a 40% “haircut” compared to the 6.75% – 9.9% implemented.
Savers and asset owners, more than ever, need to protect their assets NOW.
Over this parliament the Chancellor is planning to borrow much more than he originally intended. He will be borrowing £64B more in 2014–15 than he forecast just two years ago.
The Government is now pursuing a looser policy than that permitted by the last government’s Fiscal Responsibility Act. Had that legislation not been repealed, the Chancellor would have been obliged to cut spending or increase taxes by around an additional £8B next year.
Thanks to QE, the Chancellor is raising more than £100B a year without having to ask Parliament to hike taxes and without having to convince investors to part with money, while unfairly taking the credit for avoiding national bankruptcy.
QE is one branch of the state (the Treasury), borrowing money from another branch of the state (the Bank of England) and everybody in the City is cheering madly, despite the dangerous circularity of the exercise. To many, this will sound like accounting fraud, but this is quantitative easing, the perfectly legitimate wonder drug that was meant to cure the economy but to which George Osborne is now hopelessly addicted.
The figures make astonishing reading. Since Aug. 1st, the Debt Management Office, which is tasked with raising cash for the Treasury, has sold £34B of new IOUs. During the same time, the Bank of England bought £32B of them. The difference is the net amount the market had to absorb. There is actually a scarcity of some kinds of gilts. Interest rates on government debt are no longer a meaningful representation of what private lenders are demanding to extend cash to the British state. There is a false market in government bonds.