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No contract, no income = spend corporation tax money?

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    #11
    Originally posted by eek View Post
    Robbing the mafia is less risky...
    We're more likely to need the horses for meat, shortly

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      #12
      Spend the lot, there's only two ways out if this

      1. debt jubilee for all
      2. Increase taxes massively

      Once Covid ends there's no way the Tories will be able to wind back all this free cash for people sitting on their arse.

      Comment


        #13
        Originally posted by bingobob777 View Post
        Spend the lot, there's only two ways out if this

        1. debt jubilee for all
        2. Increase taxes massively

        Once Covid ends there's no way the Tories will be able to wind back all this free cash for people sitting on their arse.
        The normal rules do not apply to HMRC....

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          #14
          Originally posted by juckky View Post
          Having read those responses you've convinced me that doing such a thing would be like robbing the mafia.



          qh
          He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

          I look forward to your all knowing and likely sarcastic and unhelpful reply.

          Comment


            #15
            Originally posted by eek View Post
            Robbing the mafia is less risky...
            Yep, you can make a deal with the mob.

            Comment


              #16
              No entirely true.

              In 2005 I had a bit of a bump and was struggling to pay my tax. Wrote a letter, made a call and offered a payment structure over the next six months to pay it off and they were pretty decent about it. After every cheque I sent in I phoned them up to confirm they got it and that they were happy with the progress and they were fine.

              Be proactive, polite and professional with them. Do what you say you will do.

              Six months from now HMRC is going to be up to their eyeballs in broke people; new rules.

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                #17
                Hierarchy is:

                1: Always pay VAT without exception - even if you have to sell your kids
                2: Corp Tax less so - but don't expect to be able to run a Ltd company again until at least 2 years after

                HTH

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                  #18
                  Originally posted by GJABS View Post

                  There are many other things you could do first before doing that, such as selling the house, ... Purposefully spending Corporation tax money on yourself is not, and could even land you in jail. ...
                  Chortle!

                  They're soft as tulipe regarding corporation tax - You can run up a debt of £20,000 before they even notice, and then they'll just fire off computer-generated letters for months, and only then pass it on to a debt management company, with which you can agree a nice small weekly sum to pay it off over several months.

                  So ignore, all that doom-laden advice, and tuck into the corporation tax.

                  VAT is somewhat different, and they will jump on you fairly promptly for spending that!

                  Sell your house indeed!
                  Work in the public sector? Read the IR35 FAQ here

                  Comment


                    #19
                    Originally posted by Benny View Post
                    Hierarchy is:

                    1: Always pay VAT without exception - even if you have to sell your kids
                    2: Corp Tax less so - but don't expect to be able to run a Ltd company again until at least 2 years after

                    HTH
                    Since Customs and Excise merged with inland revenue that is out of date.

                    Comment


                      #20
                      Originally posted by bingobob777 View Post
                      Spend the lot, there's only two ways out if this

                      1. debt jubilee for all
                      2. Increase taxes massively

                      Once Covid ends there's no way the Tories will be able to wind back all this free cash for people sitting on their arse.
                      Agreed spend it. And it will be number 1. Maybe even with a new cashless global currency.

                      Originally posted by Benny View Post
                      2: Corp Tax less so - but don't expect to be able to run a Ltd company again until at least 2 years after
                      Given HMRC's plan to make running a ltd company utterly pointless, that wouldn't be a factor in my consideration.

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