Tuesday, May 01, 2012

Izza Vents His Spleen

Fed up with the low level ongoing anti accounting barracking from the Bullindgdon set at the heart of government, Michale Izza (CEO of The ICAEW) has vented his spleen.

In a letter to Cameron, Izza says that, while such remarks may be tongue-in-cheek, they undermine the significant contribution that the profession makes to the UK economy.

Izza should not be too surprised at the barracking about tax avoidance and accountants from Cameron, Osborne and their ilk. Their background means that their financial affairs are handled by trusts and (ironically) accountants. They have no real world interaction with HMRC or the "mundane" daily matters of the finance that the rest of us have.

Georgie Porgie and Cameron need to be reminded of the wise words of Lord Templeman in 1992:
"There is no morality in a tax and no illegality or immorality in a tax avoidance scheme."

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