Originally posted by LisaContractorUmbrella
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Bedouin Tax Solutions
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Originally posted by Vallah View PostIt's probably more likely that it's a loan direct from the company. It's what most companies who are still offering employed solutions are doing. Either way the poster involved should know.Comment
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Originally posted by thebear14 View PostSo you don't operate an EBT, its a loan direct to your "employees"?Comment
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Originally posted by Vallah View PostWe don't operate an employee based scheme at all. But anyway, we were talking about you and the scheme you signed up to.Comment
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Originally posted by thebear14 View PostYep, and it's been well documented on this thread that joining said scheme was far from my finest hour. Still, bigger losses at seaComment
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Originally posted by Vallah View PostI just find it odd that you don't appear to know the means by which Bedouin have been paying you for the last 6 months. And that rather than trying to find out, you've joined CUK to start a thread about EBTs, which may or may not be the way that they've been paying you. It's just looks a little bit peculiar.Comment
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Originally posted by thebear14 View Post"Start a thread"? I think you mean ask a question and just to illustrate how much a pleasure Bedouin are to deal with this is the response I got when I asked for some tax information "Can you please confirm why you require this information?". So you'll forgive me if I've burdened you by starting this thread however at no point was I aware I specifically asked for your 2 bob's worth. Cheers
You are not going to get a real understanding of other users satisfaction of working for Bedouin or information on how it operates on a public forum. Past and Present users of such schemes tend be under some form of NDA including yourself.Comment
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Originally posted by prozak View PostJeesus effing Christ.
All that risk and only 81%
you can achieve 76% by going limited FFS! Nothing fancy. Just expenses and dividends.
Edumicate yourself before I slap you!
Contractor Calculator - Your Expert Guide to Contracting. For UK Contractors, Freelancers, and Consultants
Your Details Rate £250
Rate Type Daily
Hours per week
Days per week 5
Weeks per year 44
Salary £8,000
Legitimate section 98 expenses £3,000
Pension contributions £0
Other income £0
Tax code 810L
Dividend percentage 100%
Personal Income Net Annual Income £42,066
Net Monthly Income £3,505Comment
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Originally posted by BlasterBates View PostMy advice would be exit the scheme immediatley, go and see an accountant and get your tax affairs in order. You´ve lost the fees but you don´t want a loan, you want your income in your bank account.
I find it sad that people still recommend irresponsible tax schemes."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by cheesy View PostSorry, how does this work? I am a financial trader currently trading my own account, making a lot of money and looking to trade as a limited company to save tax. I spoke to an accountant about this just this week and he was of the opinion that my expectations for how much tax I can save are are unrealistic. I was thinking, tax on dividends is low so I save loads of tax but he pointed out to me that the company first has to pay corporation tax on the profits (what's that these days? 20-25%?) and then I pay cgt (20-25%?) on the divis that are paid to me. I can't see any mention of paying corporation tax on the limited company's profits in your figures. What am I missing? Surely when a contractor has a ltd co., the co. is paid, expenses are taken off, there's a huge amount of net profit and the co. has to pay tax on the profits before any divis are paid out?Comment
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