No Income Tax, No VAT... Page 2

Early morning ponderings about Del Boy's financial situation, in-depth fan theories, tax, eggs. This thread has it all!

I think we should be nice to tax inspectors. Unsung heroes they are. I read David Foster Wallace's final (incomplete) novel which was largely about the tedium and boredom of working at the IRS. It was brilliant. Called 'The Pale King'. Here's an except of Wallace's tax man hero thoughts:

"'Gentlemen, here is a truth: Enduring tedium over real time in a confined space is what real courage is. Such endurance is, as it happens, the distillate of what is, today, in this world neither I nor you have made, heroism ... By which,' he said, 'I mean true heroism, not heroism as you might know it from films or the tales of childhood. You are now nearly at childhood's end; you are ready for the truth's weight, to bear it. The truth is that the heroism of your childhood entertainments was not true valor. Gentlemen, welcome to the world of reality -- there is no audience. No one to applaud, to admire. No one to see you. Do you understand? Here is the truth -- actual heroism receives no ovation, entertains no one. No one queues up to see it. No one is interested ... True heroism is you, alone, in a designated workspace. True heroism is minutes, hours, weeks, year upon year of the quiet, precise, judicious exercise of probity and care -- with no one there to see or cheer. This is the world. Just you and the job, at your desk. You and the return, you and the cash-flow data, you and the inventory protocol, you and the depreciation schedules, you and the numbers.'"

Quote: Billy Bunter @ 29th May 2017, 11:18 AM

Anyone can trade without HMRC necessarily being aware, especially in these days of self-assessment. The onus is on the individual firstly to register, then to complete returns accurately, then to pay the due amount. How many these days trade, for example, on the internet or in a market? Unless they are "shopped", HMRC would never be aware. And, if they are made aware, do they have the resources to follow it up?

The fact that he is trading as "Trotters International Traders" is irrelevant. Doesn't make HMRC any more aware. Different if you register as a limited company of course. But even they are dependent on returns being accurately completed and due amounts paid.

I speak as a former Collector of Taxes (until retirement).

Maybe you are the person to ask another vexing question I have of Del Boy's finances :) In the fifteen years since I first saw the 2001 Christmas Special, I've never been able to find anyone knowledgeable enough to explain it to me.

After winning over six million, Del and Rodney invested in the Central American market and made, according to Del, "more money than the Royal Mint." Then the market crashes (perhaps due to 9/11, but this isn't specified) and they lose it all. Now bust, they discover they owe the Inland Revenue £48,754, plus interest. I've always wondered why that was.

Quote: Dave @ 29th May 2017, 8:13 PM

Maybe you are the person to ask another vexing question I have of Del Boy's finances :) In the fifteen years since I first saw the 2001 Christmas Special, I've never been able to find anyone knowledgeable enough to explain it to me.

After winning over six million, Del and Rodney invested in the Central American market and made, according to Del, "more money than the Royal Mint." Then the market crashes (perhaps due to 9/11, but this isn't specified) and they lose it all. Now bust, they discover they owe the Inland Revenue £48,754, plus interest. I've always wondered why that was.

Not sure about what you are seeking an explanation. Businesses (travel companies that leave their customers stranded, football clubs, Woolworths...) and individuals (Martine McCutcheon, Kerry Katona, Paul Merson...) go bust/bankrupt all the time owing money to various organisations, including the Inland Revenue.

A tax return is filed some 9 months after the tax year to which it relates (and maybe even longer after their accounting year) so, just because somebody earned millions in the tax/accounting year, if it has been frittered away, or otherwise spent, during the ensuing period, they may not have enough of it to pay the tax that fell due.

Quote: Billy Bunter @ 29th May 2017, 4:44 PM

Like I say, I was "only" a collector; not an inspector. A very different animal. Very egotistical most inspectors. You have to take courses and pass exams to become an inspector.

Oh.................how disappointing. Just the bloke with a pad of receipts.

And you wanted an OBE for that ?! Still I suppose you looked up to a tax inspector, but looked down on someone like me.........................I know my place.

What is/was your occupation herc?

Quote: Billy Bunter @ 29th May 2017, 10:22 PM

Not sure about what you are seeking an explanation. Businesses (travel companies that leave their customers stranded, football clubs, Woolworths...) and individuals (Martine McCutcheon, Kerry Katona, Paul Merson...) go bust/bankrupt all the time owing money to various organisations, including the Inland Revenue.

A tax return is filed some 9 months after the tax year to which it relates (and maybe even longer after their accounting year) so, just because somebody earned millions in the tax/accounting year, if it has been frittered away, or otherwise spent, during the ensuing period, they may not have enough of it to pay the tax that fell due.

Ah, I see. Thanks :)

Quote: Davida Grimes @ 30th May 2017, 12:34 AM

What is/was your occupation herc?

Oh..........why do you want to know? :( I'll not be getting that midnight knock on the door will I?

I trained as an engineer, but then found it wasn't for me and so embarked on so many jobs I have (honestly and seriously) lost track of how many I had as in the 60s, jobs were two a penny then and there was at least two companies I worked for twice.

Primarily I have been self employed in photographic sales/servicing, garden retail, photo studio (which nearly bankrupted me Angry ) and finally the guest house, which was primarily my wife's business as I had had enough of self employment and went to work at a high school for over 20 years as a reprographics/audio/video technician, and that's what I retired from two years ago.

Do you need my shoe size and inside leg measurement? :$

9 and 32" next guess anyone

Quote: Stephen Goodlad @ 30th May 2017, 12:00 PM

9 and 32" next guess anyone

Are they both relating to "inside leg", if so that first measurement is a bit light. Cool

Being a tax inspector is a hard job, and we must treat these people with respect.

Quote: Oferic Schim @ 5th July 2021, 3:11 PM

Being a tax inspector is a hard job, and we must treat these people with respect.

Yes we must! Well said!

Well as a Payroll specialist I'm more wondering about Rodney's rights and paygrade
Even with no Tax or Vat I can't see him making very much from what I've seen, I wouldn't be surprised if Derek had employed him as an apprentice in order to be able to pay him less than the minimum wage

Quote: Steve Sunshine @ 6th July 2021, 12:28 AM

Well as a Payroll specialist I'm more wondering about Rodney's rights and paygrade
Even with no Tax or Vat I can't see him making very much from what I've seen, I wouldn't be surprised if Derek had employed him as an apprentice in order to be able to pay him less than the minimum wage

Probably furloughed him too.

Quote: Hercules Grytpype Thynne @ 30th May 2017, 11:37 AM

went to work at a high school for over 20 years as a reprographics/audio/video technician

Is that the bloke in the brown warehouse coat who moves the tele and VHS round from class to class on a Dexion® trolley?

Probably, and it was hookey, bought from sunglasses Ron.