Dec

5

Zoltan Veres in an awesome display of aerobatics


Wow

Dec

5

The War on Wine

December 5, 2008 | Leave a Comment

An article in The Times today will surely disappoint many wine lovers throughout the country. The new Crime Bill, which is to be published next week, will include a ban on cut-price drink promotions in an effort to curb irresponsible drinking. The bill will bring about an end to “buy-one-get-one-free” deals and will stop the practice of allowing women to drink free of charge. It will require clubs and pubs to serve wine in smaller glasses as well. The Home Office has also resolved not to ban “happy hours” in pubs and bars throughout England and Wales. But don’t get too excited, the department may decide to give local councils the ability to outlaw them in their respective regions.

This legislation is just a small episode in the series of government restrictions on alcohol and smoking that people have suffered over the past few years. Considering the institution of the smoking ban in pubs and restaurants in July 2007, proposals to tighten pub licensing laws, and talks of allowing bars to only fill two thirds of each pint, it is safe to say that the government is becoming bolder in its attempts at regulation.

Many, including the wine industry, argue that this and other bills will affect moderate drinkers as well, causing them to unjustly suffer the same restrictions and higher prices. It has been established that excessive drinking can lead to crime and disorder, but the measures the government is taking will not be effective in stopping someone keen on drinking him or herself into oblivion. Alcoholics will drink whether or not they can get two beers for the price of one. In the meantime, those who enjoy a glass of wine or a pint every so often are left to suffer.

I Despair!

Nov

23

It’s widely rumored in the mainstream press that the clever fellows at Downing Street will cut the main rate of VAT from 17.5% to 15%.  Bravo, tax cuts should generally be applauded.  What’s troubling me though is that those same clever fellows don’t have a particularly good record of er, well, being very clever.  When Brown abolished the 10p starting rate of tax he pain failed to see or understand the consequences of his action. He made swathes of low earners worse off and had to conceed the gaff in parliament in an embarassing u-turn.

Tax in this country is complicated.  Very complicated.  I know this because I advise tax payers.  When VAT was introduced in the UK on 1st April 1973 it was described by the chancellor of the day as “a simple tax”.  A tax so simple that it took a court to decide if a jaffa cake was a cake or a biscuit.  HM Revenue and Customs wanted it classed as a biscuit so they could tax it, biscuits being a luxury item and cakes apparently being a necessity, biscuits are standard rated goods taxed at the main rate of VAT, cakes are Zero rated.  We have exemption, partial exemption, opted to tax, not opted to tax, second hand goods schemes, cash accounting, retail schemes and the flat rate scheme amongst other things to get ones head around.

So lets take the flat rate scheme as an example.  Lets say a small business is currently in the flat rate scheme.  Every invoice that that business raises for standard rate supply, we’ll assume here that all supplies are standard rated, needs to carry a vat charge on it at 17.5%.  Lets say this particular scheme means the business has to pay over 13% of its gross revenue in vat under the terms of the flat rate scheme.  This is the current state of affairs:

Fees charged £1000 + vat of £175 = £1175.

Due to lazy B on benefits Mr Brown 13% of gross = £152.75

Deemed input to offset against real vat incurred = £175 - £152.75 = £22.25

No need to keep detailed complicated vat records, thank you very much.

OK, now lets suppose those cunningly clever chaps at Downing Street woo the country tomorrow with a cut in VAT from 17.5% to 15%, lets do the maths again….

Fees charged £1000 + vat of £150

Due to MP’s pension fund Mr Brown 13% of gross = £149.50

Deemed input to offset against real vat incurred- £150 - £149.50 = £0.50p

Hum… it seems that 97 and 3/4rs percent of the input relief has vanished.  Where the small business got £22.25 contribution towards its VAT overhead it now gets £0.50p

I may be pleasantly surprised tomorrow and they may deal with this problem in some blindingly obvious simple way that doesn’t involve gallons of midnight oil to understand.  I sincerely hope they do, but I’m weary of this administration and their ability to cock up everything they do.

Oct

10

FTSE at sub 4000

October 10, 2008 | Leave a Comment

FTSE

It had to happen sooner or later.  I’m just amazed its taken so long for the markets to realise what a folly the over bloated valuations have been for the last few years.  I honestly won’t be surprised to see the FTSE 10 below 3000 this side of Christmas

Jul

13

No1 Rocking the NEC


For the second year running No1 has played the NEC in the national rock & pop festival. This country has some good kids in it which is sometimes all to easy to lose sight of.

Jun

21

Yeah baby!!!

Jun

9

iMac

June 9, 2008 | Leave a Comment

My Mac’s arrived….yeah baby!

May

26

I covet…..

May 26, 2008 | Leave a Comment

Mac

Oh man….I’ve just got to have one!

Apr

16

Gym pass

April 16, 2008 | Leave a Comment

My Gym wrote to me today congratulating me on being one of their most active users.  They sent me a free guest pass which is now available to the first person to ask for it.  The gym is Virgin Active in Solihull, but Virgin allow members and so presumably guests to use any of their gyms throughout the country.  email me if you want it.  First come first served.

Apr

16

Politics

April 16, 2008 | Leave a Comment

I joined the Libertarian party a few weeks ago, they being the only party with an albeit evolving manifesto that I can approve of. Today I got my welcome pack from the party which included a couple of business cards which on the back contains a synopsis of what they/we stand for. I’ll repeat it here:

“Libertarians believe in individual liberty, personal responsibility, and freedom from government - on all issues at all times. We don’t say government is too big in one area, but then in another area push for a law to force people to do what we want. We believe in individual liberty, personal responsibility, and freedom from government - on all issues at all times.”

Bravo I say. What do you say?

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