Tuesday, September 25, 2007

redistribution of wealth

Just read the following.

‘The current position is that , if you own a (holiday) property abroad through a company but it is available for your own use it should be taxed on you as benefit in kind. This side effect of legislation was never intended ………… New draft legislation is now out for comment removing this tax charge…….’

The 'current position' seems perfectly logical to me but the 'never intended' 'side effect' is obviously affecting the net income of the politicians and their cronies who set the rule up in the first place. No I dont suppose they did intend it.

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