Updated: Aug 5
I gather there is an interesting standoff in Whitehall as the head of HMRC is refusing to sign off on the '£1,000 for taking furloughed staff back' scheme as it 'doesn't represent good value for money.' In all the years that I've been 'interested' in tax, this is the first time I can recall this happening - or at least publicly. And I'm not sure what happens next ! If it goes through, and those policing it don't agree with it, what sort of approach are we going to see to enforcing compliance ? Meanwhile, it's a bit nauseating to see the media applying blackmail tactics to high profile companies trying to get them not to claim for the money. Primark (not claiming) are being publicly praised, pressure is being piled on the likes of M&S, BA etc to do the same. The whole thing leaves a bad taste in the mouth. After all, assuming that they are complying with the rules, where does the line get drawn ? Voluntarily paying an extra 5% tax for the common good ? Take this to the next stage, at the smaller end of the economy, will we see employees putting pressure on their employers to pass it on ? I hope not. Missed an edition ? See them at http://www.positiveaccountant.com What are my positives today ? 1. I'm not Ron Wayne Go on, you hadn't heard of him either had you ? But I bet you've heard of his former colleagues Steve Jobs and Steve Wozniak. Ron Wayne was the third co-founder of Apple (present market valuation of $1.73 trillion.) The reason you haven't heard of him ? He left in the 1970's, selling his 10% stake for $800. So next time you're thinking you're having a bad day think about Ron, who will be reminded of this deal every time he takes a phone call. 2. I don't run a Cruise Line I stumbled across a fascinating article last week about cruise ships and what is having to be done with them at the moment. I thought aircraft were bad enough but these are something else. See the link below. A ship costs $2-3m per month just to float ! https://thepointsguy.com/news/cruise-lines-could-store-ships-months-coronavirus/ Typically, then I bumped into one moored just off Southwold (not a typical Cruise Line destination !). Turns out it is a Cunard vessel, the Queen Victoria. Picture below 3.
Regular readers will remember Vol 2 Ed 20, where John had accidentally stumbled into an Islamic Finance mortgage deal and pulled out at the last minute. Today our hero received a normal, conventional mortgage offer. The sort where he keeps ownership of his house and pays interest on the debt. What am I talking to clients about today ? Oddly enough, two clients have contacted me to talk about alternative property uses. One has a small industrial facility remaining after relocating, the other an office premises which may not be needed in the 'work from home' era. Neither property lends itself to residential conversion, but both are looking at whether there is some kind of online retail/distribution type business. Great examples of thinking outside the box, which we're all having to do now. Stay safe, stay positive Adrian email@example.com 07917 338342 Queen Victoria moored off Southwold. Not far from the fleet of oil tanker mentioned in Vol 2 Ed 14.