Tax planning is usually a very controversial subject, which is frequently misunderstood by lots of people, including the press. Below are some interesting facts about tax and tax planning, which I hope you enjoy
Tax planning 's been around for years and years. The phrase 'daylight robbery' comes from the practice of taxing windows. In Britain centuries ago, it had been the view of the federal government that only rich people had windows, therefore, they imposed a tax on windows, based on the number in one's house. In order to avoid paying the tax landlords and home owners would brick-up their windows. Therefore, if you see a early building in the united kingdom, particularly around London, you may still see places in which a window should be, which includes instead been replaced with bricks.
There were also a large number of other taxes, which were imposed to raise money for the government. UK income taxes were brought into place, to finance the war against the French, and must be invoked every year by an act of Parliament. In Tax Planning Kidlington , if the act of Parliament isn't passed on the proper day at the proper time, there would be no income tax payable that year.
There was also a tax on hats, payable using the height of a hat. You can see from such strange taxes on hats and windows that it had been a very rudimentary way to tax those that bought more items or who lived in more affluent surroundings. Exactly the same principle applies today in most Western governments
Centuries ago it had been very easy to avoid paying duty using very easy tax planning techniques. For example, brick in up windows, or indeed by way of a shorter hat. Unfortunately today, tax planning can be an a lot more complex world than it ever has been and that seems unlikely to improve in the future.