skybluesam66
Well-Known Member
A lot who have been fiddling tax returns are now getting bitten also
there is also the darker world eg prostitutes etc
there is also the darker world eg prostitutes etc
Proud to work at HMRC (1 Viewer)
- Thread starter Sky Blue Pete
- Start date
Terry Gibson's perm
Well-Known Member
You are not wrong I actually find it quite funny to see the people who have been taking loads of cash moaning about it, but I especially enjoy the ones who have played the system by paying themselves dividends getting stung.
clint van damme
Well-Known Member
Unfortunately I was Listening to a piece on the radio and there's quite a few small charities who go down the dividend route and some of them are likely to fold.
I'm all for bashing the government at any opportunity but to be fair to them they've put some good schemes in place but unfortunately there will be some who need and deserve help who fall through the cracks.
Terry Gibson's perm
Well-Known Member
For builders etc it’s just a tax dodge, I saw a friend who does a lot of cash work and pays dividends moaning as he could live on the offer they made.
Yep there's a lot of it
There is also a lot of it that is structured into the running of companies, where in reality the individual is an employee
I'm know many who work for the same client year in year out.
Not just construction either TV production,Car manufacturers design etc .
Pete might know but I think there is an initiative to wipe it out.
Don't know if they will succeed .
IR35 or something
clint van damme
Well-Known Member
I agree, there's a lot of people use it to avoid paying their dues and I understand why the government has excludes them from the scheme.
It just means that unfortunately it catches out some genuine people.
Sky_Blue_Dreamer
Well-Known Member
IR35 has been going on for the best part of 20 years, trying to enforce workers rights by saying if more than x% of your income is from a single source you're an employee, not a contractor. Also if the contract you signed prohibits you from working elsewhere in the same industry.
jimmyhillsfanclub
Well-Known Member
There are many & varied reasons why sole traders become Ltd. companies.....The main one is in the name, as a corporation you have limited liability, so if the business goes tits up, you don't lose your house etc.
Dividends still get taxed as do all profits via corporation tax....its probably still marginally favourable from a personal tax point of view, but only just....
...but thats before you factor in the zero paid holidays, zero sick pay, additional accounting/admin/MTD compliance/insurance costs & no employer pension contributions as you are your own employer....
...whilst I'm sure there are some that exploit or abuse the system to the max, most of us one-man band types are just trying to make a honest living & do the right thing in an ever changing & often confusing tax & business landscape.....
....I'm currently still grafting everyday whilst losing about 80% of my turnover......so I'm extremely jealous of anyone who is still getting 80% of their wedge for sitting in the garden drinking.
Happy Friday folks.
Dividends still get taxed as do all profits via corporation tax....its probably still marginally favourable from a personal tax point of view, but only just....
...but thats before you factor in the zero paid holidays, zero sick pay, additional accounting/admin/MTD compliance/insurance costs & no employer pension contributions as you are your own employer....
...whilst I'm sure there are some that exploit or abuse the system to the max, most of us one-man band types are just trying to make a honest living & do the right thing in an ever changing & often confusing tax & business landscape.....
....I'm currently still grafting everyday whilst losing about 80% of my turnover......so I'm extremely jealous of anyone who is still getting 80% of their wedge for sitting in the garden drinking.
Happy Friday folks.
Sky_Blue_Dreamer
Well-Known Member
Yes. Very common method of payment with the 'company'.
shmmeee
Well-Known Member
Id have thought serious sex workers pay taxes like any other business. I knew a girl who did, had an accountant and everything. Of course the lower end won’t.
Sbarcher
Well-Known Member
No great advantage being Limited now. Used to be able to pay much less than minimum wage to be below the NI threshold but still get the credit. You could then throw a big wedge of dividend up to the standard tax threshold without incurring any further tax. Now, the divi is only £2000pa tax free although anything over this is only taxed at 7.5% up to the std tax threshold.
After Corporation Tax it's still just about worthwhile, although having the extra red tape and balance sheet take up alot of time.
After Corporation Tax it's still just about worthwhile, although having the extra red tape and balance sheet take up alot of time.
Sky Blue Pete
Well-Known Member
You are correct the criminal act is now the person paying i think. One project we did at work into the industry there was a lot of shaking heads and saying they didn’t want to work on it morally but then the cases started and people were dealing with them as normal lol
shmmeee
Well-Known Member
It was explained to me that they can’t solicit for custom but the actual act of being paid to have sex is legal. This girl saw it as any other job, she’s got a mortgage and a pension. I wonder if she’s claiming the government support scheme right now
Sky Blue Pete
Well-Known Member
Should do it she’s entitled she’s certainly on the front lineIt was explained to me that they can’t solicit for custom but the actual act of being paid to have sex is legal. This girl saw it as any other job, she’s got a mortgage and a pension. I wonder if she’s claiming the government support scheme right now
RegTheDonk
Well-Known Member
Thanks to Pete and all, been keeping an eye on their web site. You can now put in your UTR and NI deatails and it'll give you a date when you can claim. Not sure if this superceeds them contacting you anyway.
Enter your Self Assessment Unique Taxpayer Reference - Self-Employment Income Support Scheme - GOV.UK
Enter your Self Assessment Unique Taxpayer Reference - Self-Employment Income Support Scheme - GOV.UK
Sky Blue Pete
Well-Known Member
Good work Reg
Skybluemichael
Well-Known Member
Thank you HMRC, sent off for my self employed grant should be with me in 6days first money I’ve had in 10weeks,
RegTheDonk
Well-Known Member
Good stuff and hope you're able to start working asap, keeping safe and alert of course.
Hope the process was easy and didn't lock up. My lad has his "appointment" today at midday...the daugher on Saturday.
Sky Blue Pete
Well-Known Member
Mentioned your feedback on my team call this morning. It’s so nice to hear the difference our work makes.
Feel for the many of you coping without any income for so long and your sacrifice is appreciated.
If anyone does have any questions about this please feel to put them on here but please look at gov.uk first as the site is something I am very proud of on behalf of colleagues and is clear and excellent.
Feel for the many of you coping without any income for so long and your sacrifice is appreciated.
If anyone does have any questions about this please feel to put them on here but please look at gov.uk first as the site is something I am very proud of on behalf of colleagues and is clear and excellent.
thekidfromstrettoncamp
Well-Known Member
Sky Blue Pete At my age don't bother HMRC very much but any time I have had an instant and precise answer everytime.In fact any Goverment department I have had the same treatment a big thanks to you all.
Sky Blue Pete
Well-Known Member
As at midnight 17/5
JRS - £11,100,000,000 claimed by 986000 employers that are furloughing 8,000, 000 jobs
SEISS - £6,100,000,000 claimed by 2,000,000 people
phenomenal figures
hate the Tories but this was a good thing
JRS - £11,100,000,000 claimed by 986000 employers that are furloughing 8,000, 000 jobs
SEISS - £6,100,000,000 claimed by 2,000,000 people
phenomenal figures
hate the Tories but this was a good thing
clint van damme
Well-Known Member
When is the self employed scheme open until Pete?
Sky Blue Pete
Well-Known Member
I don’t know let me look
Check if you can claim a grant through the Self-Employment Income Support Scheme