£400K tax bill £400K tax bill - Page 2
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Thread: £400K tax bill

  1. #11

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    Quote Originally Posted by TheFaQQer View Post
    Salary £8k
    Pension £32k
    Gross Profit £10k
    Corporation tax £2k
    Net profit £2k

    Pay our £5k in dividends and you leave £3k in the company
    Profit? 2k expenses and you don't pay any tax at all. An accountant, insurance, website, etc should get you there.
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  2. #12

    Should post faster

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    Quote Originally Posted by LondonManc View Post
    Profit? 2k expenses and you don't pay any tax at all. An accountant, insurance, website, etc should get you there.
    Also bring your kids up free using tax credits because you don't 'earn' anything and pension doesn't count

  3. #13

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    Quote Originally Posted by LondonManc View Post
    Profit? 2k expenses and you don't pay any tax at all. An accountant, insurance, website, etc should get you there.
    You would need £10k in expenses to get the profit to zero and hence paying no corporation tax. An unlikely scenario though, it’s contractors taking the p1ss that have caused the problems we have today.
    "The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." Cicero

  4. #14

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    Quote Originally Posted by NotAllThere View Post
    4x? INKSPE.
    yep they pay their cleaners £20 an hour !
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  5. #15

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    Quote Originally Posted by TheFaQQer View Post
    Salary £8k
    Pension £32k
    Gross Profit £10k
    Corporation tax £2k
    Net profit £2k

    Pay our £5k in dividends and you leave £3k in the company
    How many days do you bill a year?

  6. #16

    Faqqed Off

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    Quote Originally Posted by PurpleGorilla View Post
    How many days do you bill a year?
    It varies from year to year. I always aim to work no more than 9 months of the year - some years I manage to do that, some years I work more than that because I can.

    I'd guess at between 160 and 220 feels about right.
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