What does 'certified' copies mean?
Accounting Fun
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14h ago
Accountants frequently ask new clients to either bring their passport into the office or to supply certified copies. It's a requirement of the anti-money laundering regulations. An accountant told me recently that a new client recently sent him a package.  On opening it the accountant found a copy of the client's passport. What else?  Another one. Same as the first.  And another, and another.  Indeed the package simply contained almost 3 dozen photocopies of the client's passport.  None had been certified by a solicitor - or anyone. The accountant called the client ..read more
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Songs about tax avoidance?
Accounting Fun
by
1w ago
 The titles were cleaned up eventually of course! VAT's the way uh-huh uh-huh I like it  Greedy Woman by Roy Orbison  I want it tax free - by Queen  Hello, is it me money you're looking for?  I'd do anything for love (but I won't pay tax)  The Long and Winding Fraud  Save your tax exemptions for me - by the Brotherhood of (the Isle of) Man  Got to get you into my life (so I can claim the relevant deductions)  Leaving on a Jet Plane - having paid no VAT on it  My Tax Breaks bring all the rich to the yard  I'm going to Barbados  Tax ha ..read more
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For every tax problem...
Accounting Fun
by
2w ago
 For every tax problem there is a solution - which is straightforward, uncomplicated and wrong ..read more
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Before PwC, before Coopers & Lybrand, there was Cooper Brothers.....
Accounting Fun
by
3w ago
PwC was initially called PriceWaterhouseCoopers having been formed by the merger of Coopers and Lybrand and Price Waterhouse. Long before that merger Coopers & Lybrand was originally called Cooper Brothers and based in Gutter Lane, London.  Indeed they may have been the only building with an address identified as being in Gutter Lane.  Legend has it that at one stage the partners wrote to the Corporation of London suggesting that, in view of their long tenancy, it might be appropriate to rename the place Coopers Lane.  The Corporation, so the story goes, wrote back ..read more
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Are some tax advisers paying more than they need to?
Accounting Fun
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3w ago
Some years ago on my first visit to Penrith, Cumbria, to present a talk to the local CIOT branch, I took a cab to the venue.  The driver asked me what I was doing in Penrith and I explained: “I’m here to give a lecture to a group of tax advisers”.  For a moment I was thrown as he seemed very miffed.  It then became clear from his reply that he had misheard me: “It would be nice to have been invited. I’ve been a taxi driver here for over ten years!” I was unable to keep a straight face!  I shared the story during my talk and at the tea-break one of the delegates came ove ..read more
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"Morton's Fork" - the rock and a hard place options for taxpayers
Accounting Fun
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1M ago
The expression "Morton's Fork" originates from a policy of tax collection. It was devised by John Morton, who was Lord Chancellor of England in 1487, under the rule of King Henry VII.  Morton's approach was that if the subject lived in luxury and had clearly spent a lot of money on himself, he obviously had sufficient income to spare for the king.  Alternatively, if the subject lived frugally, and showed no sign of being wealthy, he must have substantial savings and could therefore afford to give it to the king.  These arguments were the two prongs of the fork and regardless ..read more
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The accountant with a special time clock
Accounting Fun
by
1M ago
Years ago there was an unscrupulous accountant who always overcharged his customers.   He had a special clock built that ran faster than other clocks. It ran at nearly twice the speed of a normal clock so that 1 hour would appear as 2 hours.  He then tracked his time by using the fast clock and in essence doubled his billing hours.   He bragged about his overcharging process to his close friends and his wife.  He also bragged about other topics such as his golf score, his time in running the mile and his endurance when being intimate with his wife.  &nbs ..read more
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Are all accountants....?
Accounting Fun
by
1M ago
When you start searching in Google you may have noticed that it often offers to complete your search string.  In effect the system recognises and offers you the rest of what other people have searched for even if the words are in a different order.  Here are some of the suggestions Google offered me recently by reference to the few words I typed in each case:  Are all accountants....  .... the same? .... boring? ..... alcoholics? Why are most accountants....  .....female? (a surprisingly common question it seems, possibly related to the film industry where the acco ..read more
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10 pop bands featuring accountants - or do they?
Accounting Fun
by
1M ago
Ledger Zeppelin  The Rolling Balances  Fleetwood Macroeconomics  The Balance Sheetles  The Fiscal Fighters  The Profit Margin Boys The Doublie Entry Bothers  The Black Eyed P&Ls  Cashabian ABBA (Accountants Balancing Books Always ..read more
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Money, Money, Money - fun quotes
Accounting Fun
by
2M ago
 "There's money. And then there's MY money" - Anonymous client to accountant about funding a forthcoming tax bill "Money is better than poverty, if only for financial reasons" - Woody Allen "I can't afford to die; I'd lose too much money" - George Burns "One of the mysteries of human conduct is why adult men and women are ready to sign documents they have not read, at the behest of salesmen they don't know, binding them to pay for articles they do not want, with money they do not have." - Gerald Hurst,   "Nothing is as irritating as the fellow who chats pleasantly to you whil ..read more
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