And CFAVs
The move back to VA being at Acting Rank and the week long camp I’m starting a week today will deliver a sizable chunk of cash before HMRC come along (£1k) this could push me into the Higher Rate, I’ve no problem paying 40% on this segment, but it does reduce the amount of savings interest I can generate tax free from £1k to £500.
Might have to increase my pension contribution to offset.
Martin Lewis covered a very similar scenario in his latest podcast.
And they could volunteer as CFAVs?
These elements of the tax system surely must have been done deliberately to create an image (and reality) of tax being disincentivising and punishing.*
Much like parties crippling the public sector so they can claim it “doesn’t work” and sell it off to private interests.
Why don’t we all rally around a policy point of simplifying the tax system but also making sure it prevents spiralling wealth inequality?
*for normal people
Politicians of all flavours have been talking about simplifying the tax code for years, yet it keeps getting longer.
Before I’m accused (again) of being a conspiracy theorist: I usually find incompetence easier to believe as an explanation than conspiracy.
Indeed…
Ive often thought… and i stress i dont want to get rid of cash.. BUT.
Cashless society… HMRC given full and total power to see bank accounts…
How will your average druggie pay for their hit? Cant see most dealers accpeting bartering for their Oz of smack or whatwver…
“Here you go mate, 600 banannas for 3 wraps of coke”…
Kill the black economy, put everything into the tax mans eyes.
Got to be good… right… right?
How I pay my gardener, decorator or cleaner is my business, their responsibility to declare it to HMRC.
Indeed.
But if you could only pay via BACs it would be traceable.
Therefore taxable.
Why should I change how I renumerate people for providing a service? I could pay them in US dollars, for instance.
Why should you have a choice?
Why shouldn’t I, it’s called freedom of choice, maybe you’ve heard about it?
It’s called Parliamentry democracy maybe you’ve heard of it?
It’s up to the retailer/provider to decide what methods and currency’s of payment they will accept
Since when has Parliament put any legislation before the House? The obnoxious and failed politician Balls suggested this under the Brown terror, and that flew like a block of concrete.
And small businesses are disproportionably hit by electronic card charges, which is why I always try to use cash with them. Some businesses I know have a floor limit on accepting card payments and one advertised that it paid £400 per month in card charges.
I try to avoid businesses that only use a cashless transaction profile.
£400 a month is nothing compared to the costs associated with handling cash.
This idea that cash is free is a load of rubbish. The only advantage of running cash is the ability to keep it off the books and not pay tax on it.
Especially if that person is the likes of G4S. I can’t imagine those cash in transit type contracts are cheap…
There’s a reason the drivers look dressed for a riot rather than a trip to your local Tesco 
I know we spend a lot of time talking about things with actual legal basis like humans rights etc, but “freedom of choice” literally isn’t one of those things.
You can certainly make an argument in favour of your ability to have that choice, but it isn’t something that stands on its own.
People have made some really interesting points about the cost of cash, for example. I hadn’t considered those!
The risks and benefits are for the business owner to decide, not the government. Are you suggesting without evidence that business owners who accept cash are dishonest?
I don’t think that’s what they’re suggesting.
Though I’ve certainly experienced people trying to charge more for card use or offer a discount for cash. That’s definitely illegal.
