Bookkeeping Bites – Tax Myth #2!

🍅Well, sometimes, sure, yeah, of course! 🍅How about 💥tax avoidance 💥 and 💥tax evasion 💥? Same thing? What do you think?
Welcome to the second myth in our Tax Myth series…
Myth 💥 Tax avoidance is illegal 💥 Y’know, It ain’t!
Lets look at the 17th century 🏢 window tax 🏢 of good old William of 🍊 Orange 🍊
You have umpteen 🏢 windows 🏢, you’re gonna have to hand over 💷 wonga 💷 for every window.
🙅🏽 You think of a couple of sneaky ways to get out of this 🙅🏽🙅‍♂️
1️⃣ You decide to block some up… Clever – less windows, less tax to pay…
2️⃣ You decide to lie about how many windows you have…. Clever – less windows, less tax to pay..
But only one is illegal – which one?
💥 NUMBER 2 is illegal 💥 It would be classed as 💥 TAX EVASION 💥 consciously deciding to lie, to not declare income, to reduce your tax burden.
🤓 NUMBER 1 is TAX AVOIDANCE 🤓 Whilst sometimes still not morally correct, it could be viewed as you 💥 organising your business and personal life 💥 so that you pay no more tax that you should do…
❓Our advice ❓ 💥 BE CAREFUL 💥 out there……. There are many people that will tell you of kosher tax avoidance schemes….. ❓Really ❓ Ask yourself, does it sound too good to be true? Then it probably is…
Big G has a useful ditty on tax avoidance here – its a bit dated, but the essence of it still stand…
😍😍😍 Stay on the right side of William 🍊 Orange 🍊everyone 😍😍😍