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Tax

Advocating for the EITC and a Tax ‘Subway Map’ in Latest IRS News Release

In a straightforward, plain-talking news release (which is refreshing from the IRS), the Taxpayer Advocate Service (TAS), an independent organization within the IRS that helps taxpayers and protects taxpayer rights, released two important items: A special report on how better to administer the Earned Income Tax Credit (EITC), so the people who need it get […]

Tax

Sajid Javid – the fantasist

According to The Evening Standard, London’ evening paper: In a letter to Sir Jon [Thompson, Hmrc’s boss] Mr Javid said: “HMRC must make no deal preparation their absolute top priority as the UK prepares to exit the European Union on 31st October 2019, with or without a deal.” He said HMRC must deliver “critical internal […]

Tax

Project Fear is right: we should be afraid

Full marks to Irish taoiseach Leo Varadkar who said yesterday in response to the suggestion that he was simply promoting Project Fear about Brexit: In terms of fear, I think we should be afraid of a no-deal Brexit … [it] would have very serious impacts on the economy, north and south, and on Britain. It could have […]

Tax

Newsnight – a footnote

I feel I have to post this, and do so as explanation with a little reluctance. On Wednesday night, after being told no one was available to debate with me on Newsnight I posted this fact on Twitter because having previously tweeted that I would be on air I felt I had to explain why […]

Tax

Lessons from Brecon and Radnorshire

This was the election result from Brecon and Radnorshire: Are there any messages? I think so. First, UKIP is dead, beaten by the Monster Raving Loony Party. Second, if we generously assume that Labour is a Remain party, the bote splits 48.8% remain, 50.3% Leave. So not much has changed. Third, Boris was a facto. […]

Tax

What I didn’t get to say on Newsnight

I am writing this on a late train home from Kings Cross. I came to Kings Cross from the Green Room at BBC Newsnight, where I was having an interesting discussion with Jonathan Powell. The I learned I was cancelled for the programme. Jonathan was not. I’ll be honest. I always expect to be cancelled […]

Tax

You couldn’t make it up: Jersey is cracking down on tax avoiders

International Investment has noted: Jersey’s government is planning to launch a crackdown on islanders not paying their due tax, as it estimates to generate an extra arund £40m over the next four years with the initiative. Authorities will focus on ‘high-risk’ taxpayers who are getting their taxes wrong “either mistakenly or deliberately”. Last month it emerged […]

Tax

How tax havens distort the world

The Office for National Statistics published new data on inward foreign direct investment into the UK this week. This is where they show the money coming from. The intermediate position is the declared source i.e. the residence of the entity apparently used to make the investment and the ultimate position the supposed actual source of […]

Tax

The Green New Deal requires wealth taxation

I noted yesterday the questions that might appropriately be asked about the future of capitalism. I suggested it is in crisis because right wing politicians have abandoned it; Brexit threatens it and the left have not learned how to exploit this. There are other dimensions to this issue. As I argued, the economic system that […]

Tax

Can capitalism survive?

Time away permits a little reflection, and whether capitalism can survive is a question I did muse upon. It seems timely to ask for two reasons. The first is because of climate change, where everything must adapt or fall by the wayside in the interests of survival of humanity on earth. The second is because […]

Tax

Will Johnson go to the country?

Will Boris Johnson go the country (as it now is) this autumn? My answer is yes for three reasons. First, this will distract from preparation for no deal. Second, if he wins he can blame the country for choosing no deal, and he likes blame shifting. Third, he thinks he can win. The Tories have […]