Tuesday Tax Fact!

13 August 2019

If you thought that our UK tax regime was overly complex, spare a thought for our friends over the pond who, when completing their tax returns, have to determine whether their chosen arrows are of the type that are tax exempt or not, the tax efficient kind of arrows apparently being those that measure 5⁄16 of an inch or less in diameter, and which are…er…not suitable for use with a bow.

Forgive me for thinking that a compatibility with a bow would be an essential criteria for an arrow? And who feels compelled to declare an 18th century weapon on their tax return anyway, let alone measure its girth? Tax law, eh? Shoot me. (Tax efficiently though, please…)