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Old 3rd Jun 2002, 10:14
  #7 (permalink)  
poetpilot
 
Join Date: Jun 2001
Location: Manchester, UK
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Thanks guys, I rather suspected that what you've said was the case.

It's not just the Avgas taxes, I suspect its also the severe personal and hidden taxation that's going on as well that's hitting the professional classes - e.g. IR35 for those who work in IT (like myself). For anyone who doesnt know about IR35 I wont explain it here, just check it out at the Inland Revenue website www.inlandrevenue.gov.uk

Interestingly, some titbits have come out recently to show that those of us who are independent IT contractors may be in a better position if we can show our companies are being genuinely entreprenurial and trying to do other things.

Hence my interest in purchasing/operating/renting aircraft - e.g. if I'm going to have to pay £12k upwards to the taxman in what I consider to be excessive penalties, I may as well throw it into an aircraft. My accountant agrees and is encouraging me to do this.
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