No Truce

I think that the title of your log is quite interesting in many ways. The use of the word truce for example.

What the government seems to be saying is that the banks appear to being told that they should help out SME's. Now, let us look a bit deeper.

If you are a SME then you usually have to pay your taxes retrospectively, not only PAYE and National Insurance but also any Corporation tax, and VAT which you may owe.

Now then, let us say that you have taken on more debt than you can afford, so you actually spend the money which you owe to the taxpayer. The taxman chases you for your debt, quite rightly, you say I haven't got the money, I've spent it. What happens next. The taxman should say ok you've spent what you us, so we will bankrupt you, no problem. So, if you don't pay by the due date you're finished.

The taxman will say, if you can't pay then I would go to the nearest bank and borrow the money. The bank is going to say, I think, get lost, you are not a good risk, forget it, we actually want the money we lent to you back, so before the taxman bankrupts you, we will, because the taxman has first call.

This is not government, this is corruption, nothing else. I want those that owe their taxes to pay them. No truce Nick, no truce at all.