2008: Eagle Eye – Caruso
Death has just become more taxing. The HMRC are somewhat smug about their new computer upgrade which seems to work – perhaps the first state computer system to work properly? Its a strange world when you frame collecting tax as helping the nation to reduce its national deficit, yet that is precisely how HMRC seem to be portraying themselves. Now, I know that there are some people that dodge tax and of course should pay up – and there are those that hide vast sums offshore, however, collecting the right tax should be “normal” not seen as a positive move to reduce the debt reduction. The debt, which seems to be a constantly moving target, is reduced by repayment, which means in UK plc we need to produce more, sell more, and buy fewer imports. We need to create jobs and get good sustainable businesses started (yes, I know you know). So who has some good ideas about how to do this? apparently the politicians don’t have many.
The tax system is one that now seems to be increasingly moving to one of sentiment. Back in medieval times, of course it was the King that taxed the population, who is seems were largely poor. It would appear that something of a reversal is occurring, with a 75% tax rate in France. This is not much better than taxing the poor and frankly is simply a philosophy based on envy. The rich must pay their taxes, which should be fair to all. So I have little sympathy with those who pay less than their au pair, tax must be fair.
HMRC are claiming to have already recovered £26m in unpaid inheritance tax. This is because their new super computer (“The Connect“) made by Detica and owned by BAE systems, can sift through and cross reference bank accounts, employment history and company ownership and property purchases. So be warned, if you haven’t been declaring tax properly, you are now officially playing a game of “chicken” with HMRC. Don’t believe that HMRC won’t find out, this is the new technological age and one where advisers are culpable if they don’t whistle blow. Thankfully not an experience I have ever had. This is the age of the electonic eye…. just realised that my last post was about personal data security… I’m not getting paranoid (I hope). Anyway, for financial planning that is open, transparent and above board that won’t get you into problems with the taxman, well, you know where I am.
As its Friday, have a look at this trailer for Eagle Eye, not a bad film, topical for the times – particularly in light of news that Britain may become a CCTV drone nation in the next 5 years.

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