Items subject to WAT at such a high level that you have not yet taken them home?
I have a new pair of bike shoes delivered to work which I'm not taking home just yet. This is nothing compared to my colleague who has had his (new unused) wetsuit in the office since November.
I tend to hide lots of things to aviod the GAT they would incur, you could almost say that I am a GAT evasion expert... i think this came up in another thread about the things which are hidden from partners etc... I hid bike shoes, pedals, tri shorts and Garmin 405 at work until the gf was a way for a weekend, then snuck them home so she wouldn't notice
I'm under investigation by the Tax Women (the wife). I need a good W.A.T evasion accountant, failing that i need your very best methods of righting off as much as possible. My guess is that collectively we can shrink my W.A.T bill by as much as 75%. So, what can you do for me?
I'm under investigation by the Tax Women (the wife).... So, what can you do for me?
No, No, No. You have it all wrong, evasion will get you nowhere, except a one way ticket for the fast train to troubleville.
Key principles:
1. Never, ever, ever lie. You will be found it. Things will be far, far worse.
2. It is always better to ask for forgiveness, than for permission.
This second principle is key. The psychology of asking for permission demands a negotiation. This involves compromise through bargaining, which will put up the tax costs. Asking for forgiveness demands mercy and thus generosity as a response, this will lower the tax costs.
So, by all means store things up, but then go begging for forgiveness. Be contrite, sincere, and disclose all your sins. Sure, you will have to pay some Spouse Added Tax (SAT), but it will be far, far lower than what you would have to pay for individual items, and much much lower than if you had asked prior to purchase.
My way to avoid FAT is to buy all the items i want online (usually wiggle) and then purchase some items for the fiancee but in the wrong size/colour. when i get home i proudly declare that i have some FAT payments as i needed some items. this is met with much glee. then she tries them on and shamefully says she doesnt like them. i feign irritation and she gets a bit upset and i come out looking like the nice guy cos i will return them. never had to actually purchase something to replace the tems that dont fit. been working a treat for 2 years now!
escelation. If you start avoiding WAT payments then they will start installing databases and keeping track, ultimately meaning more WAT as we will have to finance such a system.
I have another PAT, Parent Added Tax. Being a student, and making the most of the holidays living at home eating pretty much everything in the house at their expense, they are not too thrilled when yet another box arrives from wiggle with various things I need. "If you can afford all of this silly stuff, then why cant you buy your own food..." So purchases have to be hastily accompanied by promises of dog-walking, chores, washing up and watering the plants
I think that a combination of evasion and disclosure would probably work best - disclose on the items which you believe will attract a low level of WAT (etc) but evade it on the large more WAT intensive items. This way you 1) appear to be disclosing items which attract WAT, which therefore keeps you below radar as it were, 2) it caught later can claim disclosure citing other examples of when you disclosed WAT due, and 3) oh i can't think of a 3 but you get the idea!
Major annual WAT return in our house last night after buying new trainers. The old ones were starting to cause my legs to hurt. New stuff is now divided into "essential" "over the next several months" "eventually" and "lottery win" categories [:D]
That's my WAT management plan, too. Essential now, eventually, and when I win the lotto. I justify the lotto parts by saying I'll be buying the wife a car and a house anyways, so I can get my 5k bike.
The eventually is post-credit-crunch deferred for the most part, and the essential now is really only new trainers and some bike maintenance (I've a wheel out of true) and possibly a new bike on CycleToWork scheme...
Comments
Items subject to WAT at such a high level that you have not yet taken them home?
I have a new pair of bike shoes delivered to work which I'm not taking home just yet. This is nothing compared to my colleague who has had his (new unused) wetsuit in the office since November.
I tried to explain that they would make me quicker. A mistake. "Pedal faster" I was told.
We're going shopping tomorrow.
http://forum.220magazine.com/tm.asp?m=27501&mpage=5&key=garmin瀇
No, No, No. You have it all wrong, evasion will get you nowhere, except a one way ticket for the fast train to troubleville.
Key principles:
1. Never, ever, ever lie. You will be found it. Things will be far, far worse.
2. It is always better to ask for forgiveness, than for permission.
This second principle is key. The psychology of asking for permission demands a negotiation. This involves compromise through bargaining, which will put up the tax costs. Asking for forgiveness demands mercy and thus generosity as a response, this will lower the tax costs.
So, by all means store things up, but then go begging for forgiveness. Be contrite, sincere, and disclose all your sins. Sure, you will have to pay some Spouse Added Tax (SAT), but it will be far, far lower than what you would have to pay for individual items, and much much lower than if you had asked prior to purchase.
The eventually is post-credit-crunch deferred for the most part, and the essential now is really only new trainers and some bike maintenance (I've a wheel out of true) and possibly a new bike on CycleToWork scheme...