Tuesday 24 July 2012

Bank charge evasion

Of course it's morally wrong to collude with a tradesman in tax evasion by paying cash. Let us not forget that one of the things that has turned the Greek economy into a basket case has been large scale tax evasion and a burgeoning black economy. It's time we stopped seeing dodging the taxman as a faceless, victimless crime because, in the end, we are all the victims of it. That said, it's also time we stopped taxing low earners and small businesses to death. The Libdem policy of raising the personal allowance has been a welcome step in that direction. Increasing the mileage allowance for businesses would be another step in the right direction, one which is long overdue. And we need to remember that businesses pay through the nose in bank charges for every cheque they pay into their business account, which is why many prefer cash. They are not necessarily on the fiddle. Just trying to avoid lining the pockets of bankers.

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