Opinion Archives - Optimal Compliance

Slave, worker, employee or servant?

Take our Quiz! Select the correct term for each definition… But first… What is a slave? A slave is a person who is owned by another person. A slave is not free. Typically, a slave has no rights and is forced to work, day after day, without pay. Slaves are fed a modest diet to keep them […]

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Tom

RTI is causing ‘real time’ payroll problems – how about some ‘real time’ acceptance of responsibility from HMRC?

The Revenue’s Technological Ineptitude is why your payroll numbers don’t tally with theirs all of a sudden. RTI is the biggest overhaul to payroll legislation since 1944. It was introduced a year ago and we are told by HMRC that ‘everything is working well’, so why is it that thousands of businesses are experiencing problems […]

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Catherine

I can’t pay my tax – will HMRC close my business down?

The answer is – yes, quite possibly. HMRC do not care about your business HMRC has no interest in your business, or you, or your team members. It’s a horrible fact but it is true. HMRC are there to collect your money, plain and simple. It’s not the fault of the folks who work there. It’s the […]

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Catherine

“Twenty years of schoolin’ and they put you on the Day-Shift”

You go to school, you do your GCSEs, your A Levels and then you head off to university. This seems to be the default gateway into the Wonderful World of Work for people growing up in the UK. Any deviation from this predetermined pathway is often met with raised eyebrows from peers and parents alike. […]

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Tom

Why your business structure is like a wireless radio

You’re a business owner. You run your own business. You have a team of people that work with you. You all have smart phones and laptops, you have a superfast internet connection. You shop online, you use GPS regularly, you Skype with colleagues and friends in far flung parts of the world, you interact with […]

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Catherine

Banks – Do we really need them? Part 2: Bitcoin

Bitcoin: the future of global trading or a bubble waiting to burst? The Bitcoin is a decentralised digital currency, launched in 2009, which is currently being traded by millions of individuals and businesses across the globe. Bitcoins are an independent currency in that they rely on no central banking system and thus retain their monetary […]

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Tom

PAYE is killing your business

PAYE is a tax on employment and if you run a business where your team is as much a part of making things happen as you are, then PAYE is killing your business. Paying tax as you earn is a minimum of 42.8 % and can be as much as 53.8% It is broken down […]

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Catherine

Banks – Do we really need them?

Banks are one of those day-old institutions, along with government and taxation, which have been around so long it’s hard to imagine life without them. We tend to accept them as staples of modern society and consequently never really question them or consider alternatives – if indeed there are any. For now, as much as […]

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Tom

Euro debt slavery – where will it end?

The root of the problem is simple: economic activity, culture and, of course, language varies considerably across Europe. This alone makes the realities of a single currency complicated and prone to disaster. But, before we get into the debts, let’s begin by taking a light-hearted look at some of the ‘slaves’ (and indeed the ‘masters’), […]

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David

How to spend a trillion pounds and have nothing to show for it…

According to Management Consultant to the Public Sector, Neil Glass AKA David Craig, in the years between 1997 and 2007 Labour managed to spend approximately £1.3 trillion (a little over a trillion, taking inflation into account). A trillion is a number that we, as a nation, have been forced to become depressingly familiar with, in […]

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Catherine

Tax fairness and freedom. Who is paying their fair share?

Tax doesn’t need to be taxing. That’s how the advertising slogan goes. And if you’re Barclays Bank or one of the other multi-billion pound corporations that merrily pays nothing (or next to nothing), it’s true. On the other hand, if you’re a small business owner, freelancer, or good old fashioned wage slave, tax isn’t just […]

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David

Tax evasion? Tax avoidance? Who holds the moral high ground?

We are told that aggressive tax avoidance is “morally repugnant” We’re also told that many of these schemes are legal. In fact, they’re not. But tax law is so complicated, so arcane, so twisted, it’s easy to bend the truth. Because the real aim of the tax system is to transfer wealth to the wealthy, […]

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David