Accountants get it wrong time and again

Posted on / In depth - Tax dodgers face fresh Treasury clampdown.

Lots of accountants government bashing in this FT article, like this:

The Treasury also unveiled plans to extend its disclosure regime by requiring tax planners to register lists of clients taking up certain schemes.

Francesca Lagerberg, head of tax at Grant Thornton professional services, said this would cause further uncertainty in the tax system, potentially deterring some rich people from staying in Britain. “If the aim is to frighten high earners, the government has succeeded,” she said.

Poor little darlings: they're frightened of paying tax. More likely the accountants are frightened of losing out on business.

Either way though accountants have this one seriously wrong: I heard a lawyer last night talking about bankers and claiming they were entrepreneurs. Oh dear, oh dear, oh dear I thought: how wrong you are and how willing you are to abuse ideas to promote greed.

Entrepreneurs are not motivated by money, and are not especially worried by tax. real wealth creators know paying tax is a residual consequence of what they do. Those bereft of ideas (a good description of many accountants) make money by looting it from others - a good description of modern banking. But that is not entrepreneurial activity, does not create wealth, and never will. So those doing it are welcome to leave.