A new revamped version of this blog can be found here>>>
The blog was relaunched at the start of 2015. Each week it features one of the tax tips published by the Tax Advice Network in a newsletter aimed at accountants in general practice.
The original TaxBuzz blog contains over 400 posts and was active from 2007-2011.
Tax commentary, insights and debunking were all provided by Mark Lee, who remains Chairman of the Tax Advice Network - the UK's premier network of vetted independent specialist tax experts.
Tuesday, May 15, 2012
Don't get me wrong. I'm still an active blogger - especially for Ambitious Accountants where I share tips, insights and advice for a key target audience. I have posted almost 500 items there over the last few years and routinely adapt blog posts for inclusion in talks and longer articles.
But returning to this Tax-Buzz blog, the main purpose was to attract traffic and interest for the Tax Advice Network. Initially the blog was embedded in the site and then at the end of 2007 we moved to this blogspot platform as it is more Google friendly.
I also had an idea at the outset that the blog would evidence my stance as an independent tax commentator and explainer of complex tax issues. But for each year of blogging here I reckon I have had no more than two approaches by the media for interviews or comment. Not really worth the effort I think it's fair to say.
And my life has moved on. I remain Chairman of the Tax Advice Network and we publish a weekly practical tax tips newsletter written especially for accountants in general practice. Beyond this though my income generative writing, mentoring, facilitating and speaking gigs have no direct connection with tax commentary issues. When I reviewed how I was spending my time I realised that blogging here was taking too much time for no perceived benefit. So I stopped.
The writing was on the wall when I posted this piece last November: After 400 Tax-Buzz blog posts - what now?
I was recently advised to make it clear that the absence of any Tax-Buzz blog posts in 2012 was a conscious decision. Maybe I'll find an new angle that better resonates with my other activities. There's certainly no absence of tax stories these days to highlight, flag, explain or clarify. But for now I'll leave it to others.
Friday, December 30, 2011
HMRC turn the Spotlight on the newest EBT related tax avoidance schemes
The best tax advice you will ever hear
9 Aug 2011
Wednesday, November 30, 2011
I read in The Telegraph today, for example,
“It looks like this freeze will pay for the SEIS,” [Seed Enterprise Investment Scheme]and that:
“That will be very good for start-up businesses, but will have limited appeal for ordinary investors. This is robbing the ordinary people to pay for perks for the very rich.”Come on. The annual exemption is intended as a convenience to avoid 'normal' people being in default for failing to disclose relatively small capital gains. I had been more concerned the exemption was going to be reduced to £1,000 (as was proposed in the Lib Dem manifesto).
As it stands the only people to benefit from the exemption on a regular basis need to be wealthy enough to realise capital gains of more than £10,000 each year. 'Gains' here means capital profits, which means disposing of capital assets (eg shares) worth many times that sum. They do it as an alternative to generating a further £10,000 of income which would be subject to 40% or 50% tax. Few 'normal' people can do that year after year.
So today I speak to all those commentators mourning the freezing of the CGT annual allowance at £10,600. For attempting to paint this as a problem for 'normal' people you get my Tax Fallacy of the week award.
Monday, November 28, 2011
Surprisingly though I could find no reference to the survey or, what I would describe as, the Tax Taunt, on the Confused.com website. Could this be because of the criticism and backlash the report produced?
"Insurance comparison firm Confused.com has provoked a storm of criticism from both cyclists and drivers alike with a ham-fisted and error-strewn press release aimed at promoting an equally confused road safety campaign and ostensibly highlighting the problem of road rage on Britain’s roads which has instead managed to alienate – not to mention confuse – almost everyone at whom it was aimed."
RoadCC then lists a number of alleged errors and further commentary in the same style and tone
Assuming the maths on RoadCC site are correct I think it's only fair to present Confused.com with my Tax Taunt of the week award.