Some news, views and comments about everything and anything, relevant and irreverent.
“The more things change the more they stay the same”. Whoever wrote that never worked in the ever altering reality of the British tax system. “Don’t blink or you’ll miss it” might be more apposite…
Being expert in tax changes was not the forte of Jean-Baptiste Alphonse Karr. The famous nineteenth-century French man of letters may have penned that often slightly misquoted epigram, but he clearly was not referring to the shifting sands of the UK tax regime - unless once again exercising his famously bitter wit.
As we stumble our zig-zag course through the political conference season, we could be forgiven for confusing the diametric rhetoric of the various leaders’ speeches, with the firm policies of the government's tax regime. Maybe Monsieur Alphonse Karr would apply his editor’s pen and correct that to ‘governments’ in the plural, in the context of tax regimes.
Many questions spring to mind. Are we in for a mansion tax or a stamp duty reform? Is the working tax credit going to pay for a national insurance rebate? Where are the income tax thresholds going to be this time next year?
At Springfords, we check the lie of the taxation land on a daily basis. Whether there’s a party conference scheduled or not, we’re on the tax case.
We know that whatever Dave, Ed, Nick, Nigel, Alex (or Nicola) or anyone else may be saying, there’s plenty more going on to affect your tax position. While you sleep, markets move and governments act, and that could have taxing implications for you. Does an ever-so-slight arithmetical oversight turn your supermarket shares from a profit to a loss? Does an investigation into Britain’s Mediterranean out-station mean your tax haven is no longer rock solid? Whether banking on Tesco, or salting away your profits in Gibraltar, crossing the line on your balance sheet doesn’t just mean the difference between a capital gain and a tax write off, it could be the driver that derails your wealth management.
If considering all your risks and obligations, and trying to keep in touch with all your investment tax demands, leaves you with a tense, nervous headache, then rather than reaching for the medicine cabinet, speak to us ... we’re just the tonic. Even Jean-Baptiste would find it difficult to be acerbic about that.