So, a story about people bartering the odd brace of pheasant or a rabbit or two for a pint. Excellent, lovely and all that. Then:
Thought to derive from the Old French "barater" to deceive, the practise dates back thousands of years, but technically is still legal in this country.
Of course it\’s still bloody legal. There\’s no law that says that money must be used as the means of exchange: only that money may be.
Sadly though, I think I\’m right in saying that tax is still due on barter arrangements.
Tax is still due on bartering? Why? I know it’s true but how do you police it? That’s what’s so stupid about tax authorities. The whole things based largely on trust and yet they pretend to have all-seeing eyes in order to frighten people to declaring every transaction, even within families. It seems really dumb to tax income. Where’s the incentive?
I will be happy to present to HMRC 40% of any pheasants or grouse I receive in barter. Of course, by the time I get round to paying my bill, the entrails might be a bit on the whiffy side but, heh, not my problem.
Is there anything that says taxes MUST be paid in Sterling.?
I do remember some years ago the story of the boss who paid his workers using gold sovereigns and calculated their tax liability on the basis that a sovereign was worth £1.1s
Taxman soon stomped on that idea and calculated on the gold value.
Guinea?