Just come back from summer hols

Dear Readers, I have just come back from summer hols to find quite a bit of the nice parts of
England affected by floods. It did not look like we were very well-prepared and I read that
Hull is still suffering in the aftermath. Gordon B. has made the money promises he used to
squash when they were made by his big mate TonyB.
http://www.searchaccountant.co.uk/
Alistair Darling's big idea (which has been recycled a few times) is 30 year mortgages, which
even in States don't actually last 30 years, because they are rescheduled. One idea for a more
stable market in UK residential property was higher stamp duty, which was suppose to
have cooled prices. Nice one Gordon Brown, who has now suggested concreting over the
South East, so that there is more supply. However, demand is distorted what with buy-to-let,
people accumulating 20 properties and with foreign buying. If Madonna buys up half a street
for her kids and servants, then there are less swanky houses for the rest of us.
To be fair it is not just the UK, which has outrageous property prices. Capital cities throughout
Europe have seen sharp rises, while some parts of the US, such as New York have also
experienced major appreciation. In the US there can be some really nifty tax breaks for
buying residential property.

Tevez, who owns him?

I am trying to understand the murky Carlos Tevez affair. Who does own him? West Ham, Man Utd or Media Sports Investment? Despite the influx of new players I think Man Utd will still be
hard-pressed to win the Champions League this season. In recent years they have come up
against Real Madrid and AC Milan twice and have been found wanting. Just hope that
Man Utd will not go out too early!!
If you are interested in Manchester accountants then there are a few. I suppose I don't begrudge the amount of money the players make since it is a relatively short working life,
although the second career won't be running a pub like in the old days. Frannie Lee and
Mick Channon have been equally successful following their footballing days in their new
careers but they are rare exceptions.

Don't forget the new tax charge for the Man with the Van!

Don't forget that the Man with the Van will be liable to a £3,000 benefit in kind charge for private use, which is a shame. Does he have to buy two vans!! That does not sound environmentally friendly. The Weymouth accountants Roger Wood & Co notes that the
smoking ban applies to commercial vans from July 1st.
Roger Wood also goes through the new regulations, which affect the transfer of cash
by travellers to or from the European Union to non-EU countries. This is to help fight
money laundering and counter tax evasion. Sums of 10,000 euros or more have to be
declared.

Tax errors by the HMRC

In the UK, the National Audit Office has found that £157m was overpaid to the HMRC in tax
for the 2006/07 tax year. Apparently, pensioners are more likely to be affected by tax
mistakes. The HMRC also wants the power to dip into bank and building society accounts
to get unpaid tax rather than go through the bother of a legal process.
The tax system has become too complicated and this leads to the mistakes and to the lack of
trust on both sides. Apparently, the ancient Egyptians had a sophisticated tax revenue
system linked to the performance of the Nile. I am not suggesting that the UK one should
be linked to rivers, which would be in poor taste given the flood damage in England, but
there should be an easier way of paying tax. If you have trouble, go and see an accountant!!

accountants in Bath

Dear Readers, have you ever been to Bath, famous for its Roman features, in the west of England? If you have, you know it pays to book accommodation ahead. We just turned
up and eventually ended in "Basil Fawlty" territory. The B and B owner gave us the smallest British cooked breakfast ever with one chipolata representing the usual two sausages. The bread and breakfast place was very nice in being a newly redecorated house in the country outside Bath except for the "Basil Fawlty" moments.
Bath is very picturesque although there is the problem of tourist prices. If the sun is shining and you close your eyes you think you could be somewhere in Italy (pricewise). This is because of the rip-off tourist prices.

If you ever need an accountant in the don't worry!! There are plenty on the searchaccountant site. www.searchaccountant.co.uk.

Stocks and shares

Dear Readers,
don't you hate the UK tax treatment of shares!! There is the stamp duty when you originally
buy, so no wonder people are spread betting and trading in contracts of difference to
avoid the tax. Then, if you are lucky enough to make a profit, you have to do pesky
calculations for taper relief. Or if your tax affairs are complex, you can get accountants
to do the calculations.
On the other hand the tax affairs of most people are simple but it just needs a bit of a
share portfolio, a second home or a buy-to-let property to make tax affairs complicated.
I suppose there could be a tax onslaught on second homes both in the UK and abroad.
Houses and flats are not very mobile and so are easy to tax. Stamp duty could rise to
continental levels. I suppose there could be conflicts between individual national
tax administrations trying to raise as much tax revenue as possible from
residential property. In Spain, different rates of capital gains tax are levied on property
sales depending on whether you are resident and non-resident and I am sure countries
will try and raise the tax take from foreigners (Brits).
If you do self-assessment, don't forget the July 31st deadline from HMRC if the 2005-06
tax return has not been sent in by January 31st. There will be a second automatic penalty
of £100.

Accountancy matters

Dear Readers, a survey of Robert Waters notes that there is a shortage of accounants.
Accountancy is seen as a general way into business so that banks and commercial companies
are having to take non-qualified staff for internal accounts. Small companies can use
the services of accountancy practices. For instance, in Kingswood, Bristol you could see what
Evans & Partners has to offer in terms of tax, accounts and payroll. It aims to take the
strain over red tape.
Bristol is also famous for its nightlife and was once considered the cultural capital of Wales
before the renaissance of Cardiff. The city is famous for the friendly rivalry between its
two clubs although a Gashead once told me that the main problem with Bristol was that there
were too many City fans on the council. Bristol Rovers will have to play a few games
in Cheltenham next season following their amazing promotion.