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Mistermeaner

If cash was removed all together would that fix the shadow economy problem?

Guess criminals could then use dollars or euros, or 'payment in kind'

Conrad

gadgetmind wrote: »

We certainly have a thriving black economy, but I'm not convinced that it's out of control.

I knew a taxi driver who didn't declare all the cash, but he was caught on a sweep, and couldn't match his expenditure to his declared income. I also know of a fish and chip shop owner who was caught in a sting on VAT evasion and was given a £50k+ back-dated assessment on Christmas eve with 5 days to pay it.

Both lost their houses and the latter lost his business too.

Yes, some people get away with these crimes, but you don't mess with the tax man and sleep soundly at night.

I wish it were so but its not my experienced based on years in business dealing with these sorts of enquirers and the same applies to the various Accountants I know.

I'm not just talking small business either, quite often they own reasonably large enterprises.

Knocking the corporation tax by way of scratching your company and starting another is rife according to my Accountant says there's zilch the tax man can do about it.

A building company owning very good mate gave a classic example recently. He priced up a big job for a wealthy Nigerian chap in Surrey and the client calls him to say the job is his but what is this strange mention of VAT, he he he, cmon my friend lets talk like grown ups. My mate has a family and had no choice but to play along, and we're talking a very big job here.

antrobus

danothy wrote: »

We also all know that zero hour contracts are called zero hour contracts because people work zero hours while employed on them. Not sure how that is better than no work at all.

If there were significant numbers of people employed under zero hours contacts who were actually working zero hours, then the effect would be apparent from ONS data on Actual Hours Worked.

Since the number for the 'all workers' average of 32 hours in the Jun-Aug 2015 quarter is pretty much the same as it has been for the past decade, I would say that you were wrong.

P.S. Zero hour contracts are not called zero hour contracts because people work zero hours; they are called zero hour contracts because people have a guarantee of zero hours. Thus it is perfectly possible for somebody to be employed under a zero hour contract, but actually work 35 hours a week and count as full time employed in the LMS.

antrobus

lisyloo wrote: »

There is also the issue of underemployment, which is people having less employment than they would wish.....

There is also the issue of overemployment, which is people having more employment than they would wish. When things are booming, you tend to have more overemployment than undemployment, when things are not so good, the reverse is the case.

danothy

antrobus wrote: »

Zero hour contracts are not called zero hour contracts because people work zero hours

Yeah they are, the clue is in the name. It's basically just a contract that stops you working, created by the government to massage employment figures, and implemented by Sports Direct in exchange for being able to avoid tax. Use a magnifying glass, find all the lies.

gadgetmind

danothy wrote: »

It's basically just a contract that stops you working, created by the government to massage employment figures

Hang on, do you actually believe this stuff? I thought you were just acting stupid for comic effect, but I'm now starting to have my doubts.

antrobus

danothy wrote: »

Yeah they are, the clue is in the name....

Zero-hours contracts, or casual contracts, allow employers to hire staff with no guarantee of work.

http://www.bbc.co.uk/news/business-23573442

danothy wrote: »

...It's basically just a contract that stops you working, created by the government to massage employment figures, and implemented by Sports Direct in exchange for being able to avoid tax......

Which government? Zero hours contracts have been around for ages. See NHS nursing banks or LEA supply teachers.

danothy wrote: »

..Use a magnifying glass, find all the lies.

I don't need a magnifying glass to find your lies. Google will do.:)

cells

The roaring 20s are about to return

I think the period 2020-2030 is going to see a huge boom as the semi AI technologies start to come to market and bring in a lot more wealth the first of the significant ones which will be robo-cars.

antrobus

cells wrote: »

The roaring 20s are about to return...

Bearing in mind that when the 1920s began, the UK was in the middle of the most severe recession it has ever experienced, I think I'd pick a different decade.:)

Generali

Conrad wrote: »

I wish it were so but its not my experienced based on years in business dealing with these sorts of enquirers and the same applies to the various Accountants I know.

I'm not just talking small business either, quite often they own reasonably large enterprises.

Knocking the corporation tax by way of scratching your company and starting another is rife according to my Accountant says there's zilch the tax man can do about it.

A building company owning very good mate gave a classic example recently. He priced up a big job for a wealthy Nigerian chap in Surrey and the client calls him to say the job is his but what is this strange mention of VAT, he he he, cmon my friend lets talk like grown ups. My mate has a family and had no choice but to play along, and we're talking a very big job here.

Don't mention it.