Get a (second) life

Dec 3, 2008, 09:09 AM

Authors : Mike

Show link : Yes

Show link in individual comments : No

Show Printer-friendly URLs list : Yes

User can post comments : No

Display comments : No

Sticky at top of lists : No

Promoted to front page : No

Premium content : No

Feature in listings page : No

Post date : Dec 3, 2008, 09:09 AM

I had a trip into Second Life yesterday, courtesy of the CIOT. I was interviewing their representative Tax Anderton, who sounded remarkably like Tolley Seminars Online guru (and CIOT council member) Chris Jones.
We looked at the potential real-life consequences of trading in Second Life.
Some people make worthwhile profits selling their skills in animation and design there.
Although trades take place in 'Linden dollars', they can be exchanged for real ones at around L$250 - US$1.
Others employ the classic technique of buying something in bulk and splitting it into smaller parcels (badges of a trade, anyone?) - although in Second Life it's normally land that is bought in bulk, rather than toilet rolls.
I was amused to hear afterwards that the credit crunch has hit Second Life, too.
Due to oversupply and the deflation in the bubble of excitement that surrounded it, the price of land has apparently fallen from L$12 per sq m in early 2007 to about L$2 now.
Almost as bad as the London housing market.

Return to Taxation.co.uk for real-life tax advice.

Tags :

Tax Topic Tags :