am aware that I said I wanted a day off yesterday, but I watched slow television on BBC4 last night and added a pile of entries to the glossary, all of which had already been uploaded in draft but most of which had some degree of polish added to them before publication.
Few are going to cause much excitement, but they are the sort of basic entries required if many of the more complicated issues are to be properly understood. I was working in no particular order as is apparent from this list:
Bilateral information exchange
That is 48 new entries bringing the total to well over 100 now.
There are still more than 100 uploaded and in draft at present and about 150 written but not uploaded as yet and at least as many to write. Many of these are more complex though, but by no means all.
And I will be editing all those on which I have asked for comment so far in the light of comments received, all of which I appreciate.
If you want to suggest edits please copy and paste the entry into Word and then edit using track changes and send that to me using glossary@taxresearch.org.uk .
I hope this exercise is of use, but I am enjoying doing it anyway.
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Morning Richard,
Just a note on your glossary re. Capital Gains. These can arise on a Gift of an asset as well as a sale.
Thanks. You are right. Amended.
“an asset not usually owned in the course of a trade”
I’m confused. I own my shop very much in the course of my trade. Does this mean I do not pay Capital Gains Tax if I sell my shop?
What is it about not usually that you did not understand?
Oh, I don’t know if they are unexciting. ‘Nowhere’ takes us to ‘secrecy jurisdictions’, and we may think of this as remote, but it takes us back to how Government can be both ‘hands on’ and ‘hands off’ (nothing to do with us). The most powerful company in British history (perhaps world history) was the East India Company; which historians for too long assumed, defined the ‘private sector’, as a Chartered mercantilist operation. It wasn’t, it filled a space that was undefined; neither public nor private, or rather it was both public and private; it acted as private enterprsie and a governing authority, for example in India. Eventually it was possble to identify the amiguity – in its special management relationship with government; the ‘Secret Committee’.
We think there are no operations that are both public and private in the modern UK. But for many years BP (which began as a public-private enterprise created by Government, retained for the Government a ‘Golden Share’; and how was that quietly exercised). Or more obviously, the BBC. Internationally, look at the development of private security companies hired by major States to carry out security and military operations.All this is overlooked, but it is still alive and well, one way or another
Thanks
You forgot to mention the role that BP in it’s original form as the Anglo/Iranian Oil Company played in ousting the democratically elected Dr. Mossadegh via MI6, empowering the Shah and all the deaths by torture and murder that his police were responsible for – enter the ayatollahs and the Iran we see today. This is just one example of recent history that is never taught in UK schools – keep the people ignorant, much easier to control them this way
I would suggest to Richard that a go-to channel for information and programmes you will never see on any western TV is Al-Jazeera. There has been an excellent series on – the algorithms and the enormous influence they have on so many aspects of financial/social life.
I have, however written comments here several times on the origins of BP in 1908, as a public-private, Admirality led operation with Burmah Oil in Persia (Iran); which provides the origins in Britain’s whole Middle East involvement (while the Persians figured out for themselves they were not receiving the bulk of the rewards for their oil); our entangling with Russia, all of which led eventually to the Mossadegh disaster. The best source I know for the diplomatic development of the WWI consequences, and the mess to come is James Barr’s brilliant book, ‘A Line in the Sand’ (2011).
Will the glossary include ‘growth’?
Yes
Eventually
Gross & net profit would be helpful
Fast track procurement
Tax haven
– all would be helpful
Thanks!
Tax haven is already there
The profit definitions are coming
I am nit sure about fast track procurement
I was just thinking in the context of PPE corruption – and NHS privatisation – procurement & commissioning are words that I think people would value having a better understanding of. Just an idea…
OK….