The Mudcat Café TM
Thread #157132   Message #3707050
Posted By: Teribus
07-May-15 - 12:21 AM
Thread Name: BS: Pro / Anti Thatcher Squabble Thread...
Subject: RE: BS: Pro / Anti Thatcher Squabble Thread...
"those cunning tax accountants might even find ways of making their own fees tax-deductible"

Of course tax accountants fees are legitimate expenses to defray against tax - that is why everyone should use one.

As stated previously elsewhere I worked on a zero-hours contract basis for about 30 years (i.e. No guaranteed hours, if you didn't work you didn't get paid) and always used an accountant for my tax returns, standard deductions were:

1: My Personal allowances
2: His services
3: Private pension payments that were limited to ~17% of net relevant earnings (i.e. gross earnings, did not include investment income or interest)
4: Travel & living expenses (When relevant)
5: Medical expenses (Associated with work - mandatory requirement)
6: Training & refresher courses (Required for professional qualifications and upkeep of same to maintain and improve job prospects)
7: Calculation of "Time out of the country" due to work and credit for tax paid elsewhere

Provided I conscientiously kept records and receipts the guy I used could do this easily within three days and he always saved me money.

Nothing whatsoever stopping anyone from using the services of someone who knows the tax system of this country to minimise the amount of tax paid that is perfectly legal. Sure enough you have to spend, but you are spending for your benefit, like renting or owning, rent is money you put into somebody else's pocket for no benefit to you, whereas the money you use each month to pay off a mortgage is money ultimately going into your pocket.

GUEST,punkfolkrocker - 06 May 15 - 10:29 PM - Ask Mrs pfr if the ladies still want their hair cut by their usual hairdresser? If as you say the business was long established and thriving, what you have just described presents an ideal business opportunity for those employed there.