Weird and Wonderful

Even in this day an age there are a few Tax Rules I don’t agree with and we are always hearing in the media the outrage of the ‘Tampon Tax’ so I thought I would look into taxes of the past and reassure myself that it is an ever changing and developing system and sometimes it takes a while to catch up. I just thought I would share some of my findings and thoughts with you.

1. Wallpaper Tax – In 1712, England imposed a tax on printed wallpaper. Builders avoided the tax by hanging plain wallpaper and then painting patterns on the walls…

Having been in our new home a year now and having had multiple builders in I don’t think I would have wanted them painting patterns on my walls – no offence. 

2. Clock Tax – In 1797, the British Clock Tax was introduced, covering all timepieces, including watches and clocks. Funnily enough, people stopped buying watches…

This got me thinking, now a days would this include, computers, TV’s, Phones, Ovens, Microwaves?? Seems we are surrounded by the time everywhere we go.  

3. Window Tax –Window Tax, introduced in 1696, was designed to impose tax relative to the prosperity of the taxpayer. Certain rooms, particularly dairies, cheeserooms and milkhouses were exempt providing they were clearly labelled. To avoid the tax, some houses from the period can be seen to have bricked-up window-spaces. It was repealed in 1851.

Any one else want a cheese room? I think it could catch back on. 

4. Fireplace Tax – In 1660, England placed a tax on fireplaces. The tax led to people covering their fireplaces with bricks to conceal them and avoid paying the tax. It was repealed in 1689.

Did they have the right idea in 1660, and could we see something similar coming back in to combat the pollution issues. I love our wood-burner and make sure we only burn the correct fuel so would be gutted if they banned them completely. 

5. Beard Tax – In 1535, King Henry VIII of England, who wore a beard himself, introduced a tax on beards, varying with the wearer’s social standing. His daughter, Elizabeth I of England, reintroduced the beard tax, taxing every beard of more than two-weeks growth.

Cant help but think this would be a big earner for the government these days, beards are everywhere. £££££££££££££

 

As always with tax reading once you start you just can’t stop so I ended up looking further a field I will update you with my overseas bizarre taxes shortly.

Landlord Tax

Are you a landlord?

Make sure you know what’s happening to tax reliefs for residential landlords, changes to the treatment of finance costs are being phased in from 2017/18 to 2020/21. During these years of change make sure you keep on top of what is needed…or better yet get an accountant to do it for you.

In April we are moving into the penultimate year of phasing in with the finance costs allowable dropping to 25%. Do you know how this will effect you? Don’t be caught out with a bigger than expected tax bill.

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Tax Relief’s

Do you wear a uniform for work?

Make sure you know all the tax reliefs your are entitled to. A commonly over looked relief is the claim for uniform, work clothing and tools. If you haven’t been claiming don’t worry you can claim for the last 5years, this could results in £100s of Tax back. #paytherighttax #taxgeek#smallbusiness
For more info don’t hesitate to get in touch.

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Happy Halloween

Budget Trick or Treats

Summer is officially over as autumn draws in, and it’s nearly Halloween! Happy Halloween to all! 👻 🎃This is a great read https://www.accountingweb.co.uk/…/h…/budget-tricks-or-treats

Making Tax Digital

Digitisation is the way forward, it may not be robots 🤖 or driverless cars 🚙 but HMRC aren’t being left behind. Here comes Making Tax Digital…. https://m.youtube.com/watch?v=TUYe7SjYWR4