UK - 'Payment in gold bullion banned under new law to combat tax evasion '

Comments

  • ReallylikecryptoReallylikecrypto Posts: 30 Tin ✭
    The UK needs to revisit all the books and movies that ever came out with a similar theme to George Orwell's 1984. It's like people are in zombie mode, walking down the high street, looking in the travel agent windows at the great holiday deals they can get, and then to go home and grass their neighbours up to the rozzers for putting a Golly"toy" in their upstairs window.

    Wooo! Glad I got that off my chest.(That was intense.)
  • vangvang Posts: 6 Tin ✭
    "tax evasion" mright
  • HClausenHClausen Posts: 36 Copper ✭✭
    Hmm...
    Some here find taxes, and the ensuing control of citizens, "Morally repugnant".
    It's a necessary evil, but the massive control that follows is an insult to formerly free citizens :(
  • RocketDogRocketDog Posts: 464 Bronze ✭✭✭
    We are all slaves. No doubt about it.
  • mr1mr1 Posts: 344 Bronze ✭✭✭
    I don't like the ruling mentioned in the article, but I think the headline of the article is very misleading.

    From what I can tell...when it says "Payment in gold bullion banned...", it is not talking about payments for goods or services in gold, it is referring to salaries/wages/bonuses paid in gold. And it is not even totally clear whether the ruling bans all payment of wages in gold. The ruling was specifically meant to crack down on tax loopholes where companies use gold for salary payments in order to avoid taxes. So if a company and employee are not using it to avoid taxes, but end up paying the normal amount of tax, it seems like they might be able to still pay wages with gold.

    Of course, government regulations often seem to grow beyond initial intentions so I wouldn't be surprised if this ruling does end up being as bad as the article headline implies.
  • GoldNRollGoldNRoll Posts: 44 Tin ✭
    This is a perfect timing for Goldmoney to turn a bad news into an opportunity for us all: write an open letter to the PM, stating clearly that the payment of wages in Gold is not intented to aviod taxation, but is intented to protect both business and employees from currency devaluation. Goldmoney could ask in the letter that instead of banning the payment of wages in Gold, the Government accepts the payment of taxes in bullion.
  • paddy10tellyspaddy10tellys Posts: 211 Bronze ✭✭✭
    @mr1 - thin end of the wedge.
    UK = Cowslip's warren
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