8 month bench, corporation tax installments due

[d000hg]

Other posts in this thread make me think there's more to it than the OP is letting on though...

Not sure about that. It's very common that people mess up when exposed to much greater levels of wealth/cashflow than they are used to, and it's very common for new business owners to mess up no matter how simple "put your tax aside" is as advice. What's the stat, 70% of new businesses go under?

[tractor]

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This thread bears the hallmarks of 'sockitude' all over it.

[northernladuk]

This thread bears the hallmarks of 'sockitude' all over it.

I'm not to sure. I can name at least 5 contractors I know that withdraw every penny the receive from their accounts leaving nil in there and then expect to pay taxes off with next years potential earnings. I know this because all 5 got canned from the role and shat themselves hence 'fessing up about their problem. Stupid situation cause it's just bad planning, they lose it at the beginning of next year anyway. There are enough stupid people out there that do this.

[The Spartan]

I'm not to sure. I can name at least 5 contractors I know that withdraw every penny the receive from their accounts leaving nil in there and then expect to pay taxes off with next years potential earnings. I know this because all 5 got canned from the role and shat themselves hence 'fessing up about their problem. Stupid situation cause it's just bad planning, they lose it at the beginning of next year anyway. There are enough stupid people out there that do this.

Agreed, I've met contractors who are exactly the same I recent paid my corporation tax way before it was due and mentioned it to another contractor. He was both shocked an appalled and said why not do something else with it.

[tractor]

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I'm not to sure. I can name at least 5 contractors I know that withdraw every penny the receive from their accounts leaving nil in there and then expect to pay taxes off with next years potential earnings. I know this because all 5 got canned from the role and shat themselves hence 'fessing up about their problem. Stupid situation cause it's just bad planning, they lose it at the beginning of next year anyway. There are enough stupid people out there that do this.

I agree.....

But they don't all start the account off a month in advance, make 3 posts to validate it, then make a stupid post like this and then disappear. If they were that worried, they would be dribbling over every single word in every single answer until one was given that suited them.

[northernladuk]

I agree.....

But they don't all start the account off a month in advance, make 3 posts to validate it, then make a stupid post like this and then disappear. If they were that worried, they would be dribbling over every single word in every single answer until one was given that suited them.

LOL, well yeah, there is that. There is an MO there so can see your point. Saying that if I had done something this stupid I wouldn't be telling you lot and if I did think it was a good idea I certainly wouldn't be further embarrasing myself after the responses he got

[tractor]

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LOL, well yeah, there is that. There is an MO there so can see your point. Saying that if I had done something this stupid I wouldn't be telling you lot and if I did think it was a good idea I certainly wouldn't be further embarrasing myself after the responses he got

You wouldn't need to, NortherLadyUK's pillow talk is as prolific as it is legendary.

[northernladuk]

You wouldn't need to, NortherLadyUK's pillow talk is as prolific as it is legendary.

It's probably paying her hourly rates for conversations that caused me to dip in to the CT in the first place.

[tractor]

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Agreed, I've met contractors who are exactly the same I recent paid my corporation tax way before it was due and mentioned it to another contractor. He was both shocked an appalled and said why not do something else with it.

It's amazing how few realise that atm, HMRC rate of interest far surpasses any bank

[tractor]

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I'd have to dip in to whats left of the Corp Tax just to pay for that. Her hourly rates are astronomical.

You need to go to uSwitch or something and get on the right tariff