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HMRC think you are tax evading scum - what will you do?

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    #51
    Originally posted by VectraMan View Post
    I had a client go bust and not pay. The permies didn't get paid either.

    Even then it's not like you lost money you invested. The tax breaks on dividends are meant to reward shareholders putting in money to fund a startup, or buy a widget making machine so the company can get into the widget business. Most contractors probably only started their companies when they got their first contract job. Nothing's at risk, except maybe the £2 of share capital. And if the risk is that you won't find work, or that the job might end, then those things apply equally to permies.
    Permies are front of the creditors list, employees by law get paid first. Contracting companies are last on the list and very rarely receive a penny.

    Most shareholders don't invest in startups, they buy govt backed, govt owned banking shares making feck all.

    Comment


      #52
      Originally posted by Zero Liability View Post
      Yup a guaranteed revenue stream provided you have no regard for human life.
      A bit like being an MP then
      Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

      No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

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        #53
        Originally posted by VectraMan View Post
        Hands up any contractors that have actually lost money.

        You don't bear a risk.
        Hand shoots up!

        And the worst thing about that was that both the taxman and the VATman wanted their chunk of invoices that never got paid.

        It's along time ago but I think I had to wait a couple of years before I could claim debt relief.
        Last edited by Sysman; 13 August 2015, 15:26.
        Behold the warranty -- the bold print giveth and the fine print taketh away.

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          #54
          Originally posted by VectraMan View Post
          Hands up any contractors that have actually lost money.

          You don't bear a risk.
          I invested and lost £10k in a Plan B.

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            #55
            Originally posted by DimPrawn View Post
            I do hope people here can remember this come the next general election (but please don't vote Labour unless you want to be unemployed for 5 years).
            I plan to retire by 2020, Vote for Korbyn's Real Labour and emigrate.

            HTH

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              #56
              Originally posted by AtW View Post
              I plan to retire by 2020, Vote for Korbyn's Real Labour and emigrate.

              HTH
              Aren't you a permie?!

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                #57
                Originally posted by FatLazyContractor View Post
                Aren't you a permie?!
                Nope, i am a Company Director.

                HTH

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                  #58
                  I nearly lost several K, for a two month contract via an agency ran by (as I later found out) one of the biggest non-paying serial-agency-folding villains in the UK.

                  But as luck would have it, a couple of months later the client (which it seemed was his largest and most lucrative) desperately needed a small but crucial update in one of the scripts that I had written, only a day's work, and I agreed to this only once my previous invoice had been paid in full and the day's new work paid in advance.

                  Over the phone, this guy tried to put a brave face on having to pay up. But I could tell he was suffering, as if his bollocks were in a vice and he was struggling not to scream or even groan.

                  Had it not been for that extra day I'm sure he would never have paid. But in the event, thank God, I was paid in full.
                  Work in the public sector? Read the IR35 FAQ here

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                    #59
                    Originally posted by OwlHoot View Post
                    Over the phone, this guy tried to put a brave face on having to pay up. But I could tell he was suffering, as if his bollocks were in a vice and he was struggling not to scream or even groan.

                    Had it not been for that extra day I'm sure he would never have paid. But in the event, thank God, I was paid in full.
                    Ah ze vice, always works - know yer vices!

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                      #60
                      Originally posted by The Spartan View Post
                      Well until they level the playing field yes, I already pay treble in corporation tax than what would be paid in tax, NI and ER NIC's if I were a permie. Plus from next year another 2k when the dividend tax comes in, what more do they want? Where does it stop?
                      It stops right after payment of inheritance tax on your estate

                      And before that happens - it rubs the lotion on its skin or else it gets the hose again

                      HTH

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