When large corporations report their quarterly figures they are usually described as ‘pre-tax.’ Obscene profits of millions of pounds, upon which it should be easy to levy the standard tax prevailing at the time.
If the general public is allowed to know how much profit has been made then it should be simple to work out what 20 per cent of that sum should be, and therefore report that too.
However by using the accounting phrase ‘pre-tax’, are the company, and the Revenue effectively saying we haven’t decided how much of our tax liabilities we are going to pay.
High profile companies can employ expensive spratts to catch mackerel, with impunity, but end of year fever has gripped many small or sole traders as they struggle to not only get accounts registered but also pay any tax due, by the due date or risk penalties.
If you are one of these hard working businesses, trying to do the right thing and stay the right side of the law, what sort of message does recent publicity of the likes of Google, send?
Many small businesses are run by ambitious and committed owners but cannot scale their businesses to the size that allows them to have a cosy relationship with the Revenue.
Isn’t it about time that the many either get the same privileges as the few, or more correctly the few are simply required to play and pay to the same rules as the majority