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> Cash-in-hand payments could be banned?
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vidcapper
post Mar 14 2018, 07:53 AM
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http://www.dailymail.co.uk/news/article-54...-Statement.html

Cash-in-hand payments for tradesmen could be banned under a crackdown on tax-dodging proposed in the Spring Statement

The proposals are a bid to gather as much as £3.5 billion from hidden economy
Cash payments common in return for tradesmen charging less for work
Tax authorities take a dim view, believing many workers are flouting the system
Treasury considering example of other countries who have maximum cash limit

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Yeah, yeah, I know the source - but compared to the tax breaks given to some big companies, this is just a drop in the ocean. sad.gif

Besides, tradespeople often give you a much better deal if you pay in cash, so customers would be hit as well as traders...
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5 Silas Frøkner
post Mar 14 2018, 08:22 AM
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The reason you get a better deal is because you’re not paying VAT which is VAT fraud. This needs to be addressed quite urgently but this is not an appropriate way to go about it. Some form of sales/purchase listing that is electronically transmitted would be preferable, like the new system they have in Spain called SII (translates as immediate supply of information) backed up by mandatory electronic invoicing would work best.

Tax breaks and general abuse of corporation tax needs to be addressed, but that doesn’t mean we shouldn’t tackle VAT fraud that’s worth billions per annum

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vidcapper
post Mar 14 2018, 09:05 AM
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QUOTE(5 Silas Frøkner @ Mar 14 2018, 08:22 AM) *
The reason you get a better deal is because you’re not paying VAT which is VAT fraud. This needs to be addressed quite urgently but this is not an appropriate way to go about it. Some form of sales/purchase listing that is electronically transmitted would be preferable, like the new system they have in Spain called SII (translates as immediate supply of information) backed up by mandatory electronic invoicing would work best.

Tax breaks and general abuse of corporation tax needs to be addressed, but that doesn’t mean we shouldn’t tackle VAT fraud that’s worth billions per annum


If only politicians themselves would set a better example.
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5 Silas Frøkner
post Mar 14 2018, 12:35 PM
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They should. The wealthiest in society avoid tax at disgusting rates and that is never going to be effectively dealt with while the people making the laws benefit from the current system. It’s a major down side to the current set up and the nature of politics and those who are able to join the field. They statistically come from a wealthy background and will look after their pocket first
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Popchartfreak
post Mar 14 2018, 12:50 PM
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I agree the rich should first set the example for the rest of us to follow. that said, cash in hand is a fact of life and the only way to stop it is to end cash. Hmmm now there's a likely future thought, more ways to track cash on people claiming benefits. Bound to happen, all they have to do is charge more to people using cash. I think I just invented the first Tory party policy post-Brexit....
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vidcapper
post Mar 14 2018, 02:22 PM
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QUOTE(Popchartfreak @ Mar 14 2018, 12:50 PM) *
I agree the rich should first set the example for the rest of us to follow. that said, cash in hand is a fact of life and the only way to stop it is to end cash. Hmmm now there's a likely future thought, more ways to track cash on people claiming benefits. Bound to happen, all they have to do is charge more to people using cash. I think I just invented the first Tory party policy post-Brexit....


But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail.
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Mariner's Crotch
post Mar 14 2018, 04:21 PM
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This is awful. Just another way to punish the poor.
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Suedehead2
post Mar 14 2018, 04:50 PM
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QUOTE(vidcapper @ Mar 14 2018, 02:22 PM) *
But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail.

I'm not sure the Tories would consider that to be a downside - apart from their offshore dealings of course.
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5 Silas Frøkner
post Mar 14 2018, 07:16 PM
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QUOTE(vidcapper @ Mar 14 2018, 02:22 PM) *
But the downside to that is that it would mean that even legitimate financial dealings could not be kept private - there would inevitably be a paper trail.
No legitimate financial dealing is afraid of a paper trail, in fact in order to be legitimate and legal there must be a paper trail. Only reason to “keep private” is to evade tax


QUOTE(Shia LeMuffQueef @ Mar 14 2018, 04:21 PM) *
This is awful. Just another way to punish the poor.

No it isn’t. It’s a ham fisted solution to a real problem. Cash in hand payments often evade tax. Cash in hand payments to employees are below minimum wage avoiding income tax, national insurance and the employers obligations in respect of national insurance. Preventing cash in hand payments will help the least well off by helping to end their exploitation
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vidcapper
post Mar 15 2018, 06:58 AM
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QUOTE(Suedehead2 @ Mar 14 2018, 04:50 PM) *
I'm not sure the Tories would consider that to be a downside - apart from their offshore dealings of course.


Which is precisely why nothing is likely to end up being done...

QUOTE(5 Silas Frøkner @ Mar 14 2018, 07:16 PM) *
No legitimate financial dealing is afraid of a paper trail, in fact in order to be legitimate and legal there must be a paper trail. Only reason to “keep private” is to evade tax


I disagree - for example, surely it would be better to borrow a few hundred quid off a friend, than have to have to resort to one of those pay-day lender 'loan sharks'?
The latter are definitely something that need tackling!
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Popchartfreak
post Mar 15 2018, 01:37 PM
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QUOTE(vidcapper @ Mar 15 2018, 06:58 AM) *
Which is precisely why nothing is likely to end up being done...
I disagree - for example, surely it would be better to borrow a few hundred quid off a friend, than have to have to resort to one of those pay-day lender 'loan sharks'?
The latter are definitely something that need tackling!


so what's the difference switching it between bank accounts? Gets paid back, evidence is there. Not a problem.

Payday lenders should be banned. or forced to accept reasonable rates of return.
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vidcapper
post Mar 15 2018, 02:48 PM
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QUOTE(Popchartfreak @ Mar 15 2018, 01:37 PM) *
so what's the difference switching it between bank accounts? Gets paid back, evidence is there. Not a problem.

Payday lenders should be banned. or forced to accept reasonable rates of return.


But why should there be an obligation to create a paper trail if you are doing nothing wrong?
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5 Silas Frøkner
post Mar 15 2018, 05:52 PM
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Why shouldn’t there be a paper trail if you’ve done nothing wrong? What are you scared of?
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