My timeline was, on Thursday evening, chuckling about the fact that Margaret Hodge had run into a little difficulty when being asked by Krishnan Guru-Murthy of Channel 4 News about her own tax arrangements.
Whilst it was certainly quite amusing to watch her use the same answer about her affairs that she has publicly derided the likes of Google, Amazon and Starbucks for, my attention was caught by the clip which proceeded it.
I am not an accountant nor an economist – let alone a business reporter – but so far as I can see Siobhan Kennedy made two glaring errors in that piece.
The first is one same one which everybody seems to make these days: confusing sales with profits. Whether this is deliberate or due to ignorance I leave up to you, dear reader, and your personal prejudices.
It was the second one though which had me, to use the modern parlance, facepalming. Indeed I even went back and listened to it again just to make sure I was hearing correctly:
…making sales which could be subject to income tax under UK law.
Frankly, I’d expect better from a business journalist.