LondonPM1's very own pollution thread

[BR14]

you still here?
must you pollute Every thread with your tedious mediocrity??

[BlasterBates]

I agree with LondonPM1, this is not tax evasion. In any year you can make a reasonable assumption about the number of billable days based on your contract rates and provided it's within a range typical for that type of business then it isn't tax evasion. It might be queried or disputed by a tax official based on your income from previous years, but I doubt very much they would treat this as fraud, provided your income doesn't exceed £230,000.

This is tax avoidance as I was taught in my accountancy course where your accounting has a certain amount of leeway provided you can justify it from a commercial perspective, and not taking holiday, having no training or not taking time out for marketing yourself is not what you would use as an assumption for estimating your income, regardless of what happened in the previous year or even last few years.

[jamesbrown]

you still here?
must you pollute Every thread with your tedious mediocrity??

+1 FOLPM1

[eek]

I agree with LondonPM1, this is not tax evasion. In any year you can make a reasonable assumption about the number of billable days based on your contract rates and provided it's within a range typical for that type of business then it isn't tax evasion. It might be queried or disputed by a tax official based on your income from previous years, but I doubt very much they would treat this as fraud.

This is tax avoidance as I was taught in my accountancy course where your accounting has a certain amount of leeway provided you can justify it from a commercial perspective, and not taking holiday, having no training or not taking time out for marketing yourself is not what you would use as an assumption for estimating your income, regardless of what happened in the previous year or even last few years.

You don't save any money if you are a contractor on the flat rate scheme as it's been set at 16.5% of turnover for the since April 2017 - so if he is claiming to be profiting by a few % from VAT then he has been using the wrong rate for at least 2 years - and that to me isn't avoidance it would evasion.

[LondonPM1]

you still here?
must you pollute Every thread with your tedious mediocrity??

Must we really have only people who agree with you. Welcome to nazi germany

[LondonPM1]

You don't save any money if you are a contractor on the flat rate scheme as it's been set at 16.5% of turnover for the since April 2017 - so if he is claiming to be profiting by a few % from VAT then he has been using the wrong rate for at least 2 years - and that to me isn't avoidance it would evasion.

Id love to be provied wrong but when i was doing this flat rate vat resulted on a few % benefit for the LTD

[ladymuck]

Id love to be provied wrong but when i was doing this flat rate vat resulted on a few % benefit for the LTD

Maybe you did before the rules changed but not since April 2017. You're in a net negative position after just a few hundred quid of expenditure. People on this forum did all the sums around this years ago and calculated the break even point. It was at a pitiful level.

[eek]

Id love to be provied wrong but when i was doing this flat rate vat resulted on a few % benefit for the LTD

What you actually said wasn't that it WAS possible but that it is possible

84% retention is possible if you max out expenses and draw salary and wife also on payroll and you make a few % from VAT

And it is possible to work 252 days in a year - Sometimes even more if weekends are possible

And I'm calling you out as the idiotic no research that every single one of your posts confirms you to be.

[LondonPM1]

What you actually said wasn't that it WAS possible but that it is possible



And I'm calling you out as the idiotic no research that every single one of your posts confirms you to be.

Hahahah

What is the point of trying to engage in a discussion with people who do not want to hear or discuss it professionally

I am speaking from experience that Flat rate for me was a few % - I ve been harrassed for being tax evasion and blaster comes along to stick up for me -

[eek]

Hahahah

What is the point of trying to engage in a discussion with people who do not want to hear or discuss it professionally

I am speaking from experience that Flat rate for me was a few % - I ve been harrassed for being tax evasion and blaster comes along to stick up for me -

Because your arguments aren't based on research - they are based on crap ideas that you post without checking whether what was true in the past is still true now - and it wouldn't be so bad but you continually do it even after we've called you out multiple times for posting things that are no longer correct and have been superseded.