Old Holborn has spotted something rather odd in the Finance Bill:
"Legislation to prevent the practice of disguised remuneration, which uses trusts to provide non-repayable tax free loans and offshore pension schemes to avoid tax, was included in the Finance Bill.
With one minor clause:
section 554E (8) "specifically exempts members of the House of Commons and the Independent Parliamentary Standards Authority from the new legislation in situations where they are actually caught by it"
The "troughing" continues! Not surprised by this are you?
7 comments:
Stunning post. Accountancy Age doesn’t really say how appalling this is, although Old Holborn does, as you’d expect. It’s such a cliché, but ‘banana republic’ was my first thought - and my second.
AKH: Thank you, you are once again very kind.
I saw this and could only thing what utter audacity, in broad daylight now, the cockroaches have come out of the cracks and are operating in broad daylight. Appalling, my first reaction, saw that on OH the other day also. Oh yes, and where is BBC, MSM, the rest? Daylight robbery, of an entire nation.
A: Agreed re the cockroaches!
The Telegraph's on it:
http://blogs.telegraph.co.uk/finance/ianmcowie/100009953/why-should-mps-be-exempt-from-new-law-to-block-tax-avoidance/
section 554E (8) "specifically exempts members of the House of Commons and the Independent Parliamentary Standards Authority from the new legislation in situations where they are actually caught by it"
Bass todds.
TT: So am I with an email to my constituency MP, one David Cameron.
JH: Thats a new one on me - translation please?
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