Tax Avoidance

Written by Katie
October 26, 2011
Business News

Do as I say not as I do

The coalition government are right to tackle tax evasion and we at a&c chartered accountants fully support this. Perhaps the members of the government should check their own house is in order first before they preach. It has been reported in The Sun that the Business Secretary, Vince Cable, failed to register for VAT in respect of lucrative media work a number of years ago, which resulted in him paying a £500 penalty and thousands of pounds in under declared VAT to HM Revenue and Customs. Under Vat rules if your turnover for services or goods supplied exceeds £73,000 in a 12 month period then you have an obligation to register for VAT within 30days

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