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
You decide to block some up… Clever – less windows, less tax to pay…
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