Do you have an expired taxi
hirty-six-year-old Neil Jones from Suffolk has a most unusual hobby – he collects tax discs, and would like to know whether you would be willing to help increase his collection of over 120,000 by sending him your expired VED. Neil began collecting in 1984 when he was eleven, and his oldest example dates back to 1922.
Neil said: “Most taxi drivers, when they renew their disc, tend to do one of two things; they either throw the old one away
new one over the top of the old one, resulting in a wad of them accumulating in the holder
, or they slip the .
Rather than doing that, would you be kind enough to please send any unwanted, expired
“It does not matter to me how old or how recent the discs are, even ones as recent as last year
additions to my collection, nor which make,
So if you would like to donate your tax disc to Neil you can send them direct to him at: Number
Photo courtesy of Metro
The Steedman Column
I
Revenue’s “ Time to pay “ scheme
yourself one step ahead of the taxman!
n these troubled times the time to pay scheme
with regular announcements usually made to achieve popularity in the run up to the general election. To be fair to Alistair Darling, the new found softly softly way of dealing with those falling behind with tax payments has helped enormously the thousands of businesses who have fallen on tough times during the last couple of years. The amount of corporate tax rescheduled through the business support
service was formally announced in November 2008.The taxman’s largesse has helped many struggling companies and sole traders who either had lending facilities withdrawn or had
to business groups. A spokesman for the
‘A lot of our members said how surprised they were when their requests were being accepted
without much in the way of paperwork and bureaucracy.’ Stephen Alambritis said.
even more important if the economy improves
stretched by the demands of growth.
rescheduled arrangements such arrangements that have always been available to those who
treasury, has said the scheme would remain in place as long as it was needed. While this is to be admired, a word of caution is required and it is crucial for anyone having made an arrangement to stick to it, as failure to do so will result in heavy-handed treatment and court actions.
On a similar vein, the tax enquiry processes, which I have written about recently in my columns, are now looking quite complicated and almost all new investigations are dealt with in a new format from the relatively informal approach of previous years. Where individual Inspectors
investigate often on their own, and using their initiative to close small cases and concentrate on bigger ones, the new approach is to work in
cover in the case of vat registered businesses all potential areas of tax avoidance or record
disc VED to give away?
T
keeping. The secret nowadays therefore is to be one step ahead and if you do run a shop or pub or hairdresser for example, it is vital to be prepared if a visit is scheduled often at short notice to your premises. Taxi drivers also should not take it for granted that simply watching fuel ratios and what goes in the bank is all that is required. Nowadays it is important to do a self- check of your outgoings for instance, to make sure that the drawings available from your business per your records really do cover your total outgoings including spending and savings. One way to check this is to do what the taxmen themselves do by preparing a “ takings build
of your household including mortgage, council tax, utility bills, entertainment expenses, pocket money for children, holidays, savings including pension plan payments etc. When doing this, list
presents and household improvements as well as clothing and motor expenses if you have a private vehicle in addition to your taxi. This is exactly the approach that they take and also remember that in these days of freedom of information, it is public knowledge through experian and similar companies, just how much you spend on car payments and credit cards each month. Similarly
Ricky Stedman
8
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