The LETSystem Design Manual

4.1 LETSystems and Relations with Government

Existing regulations on taxation, Social Security etc are as relevant to local money as 19th century transport regulations were to the first aircraft.
Landsman Community Services Ltd will persist in bringing to the attention of national and local authorities:

  • the benefits that will be realized by communities everywhere establishing their own LETSystems, and
  • that these benefits can be greatly enhanced by minor amendments to current legislation.

Our immediate direction will be to open discussion on principles that local LETS credits are:

  • a) liable for tax assessment and should thus be payable for tax commitments, and
  • b) only partially applicable to necessities and hence their receipt should not necessarily entail reduction of Social Security entitlement.

Landsman Community Services Ltd Paper No.4.1 Version No 1.3 17 August 94
Written by Michael Linton of Landsman Community Services Ltd. and Angus Soutar of Robert Soutar Ltd.
Compiled 10-01-95 by Andy Blunt and Adrian Steele of LETSgo Manchester
Sources:
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