Redundancy

[Lance]

Very nice but this isn't one. He's put the minimum effort in to understanding how to be a contractor and he's put minimum effort in to trying to end it. He will have a standard setup so the standard advice will stand.

Generally you are right about the sweeping statements but he's asking a bunch of contractors not tax specialists with no details so he's getting an answer based on a pretty solid set of assumptions. Hardly a sweeping generalisation.

No. I think it’s fair to call it a sweeping generalisation.
It’s also almost certainly correct based on the reasonable assumptions though.

Sweeping generalisations aren’t always bad. To suggest otherwise is a sweeping generalisation as well.

[northernladuk]

No. I think it’s fair to call it a sweeping generalisation.
It’s also almost certainly correct based on the reasonable assumptions though.

Eh?? Haven't you just contradicted yourself there?

[WTFH]

[QUOTE=northernladuk;2481783]He hasn't got one. Have a look at his posting history. It makes for some very odd reading as he's only just asking how to pay himself but he's already trading.


Good point, well made.

Nishant, get yourself an accountant. Something in the back of my mind thinks that you might not be being completely honest with us, or are trying to hoodwink the taxman.

You need an accountant.

In your previous post you said the company was not profitable, yet here you think it has enough money to pay redundancy, well there must be money sitting in it then!

[Lance]

Eh?? Haven't you just contradicted yourself there?

I think I disappeared in a loop of logic.

[Lance]

Good point, well made.

Nishant, get yourself an accountant. Something in the back of my mind thinks that you might not be being completely honest with us, or are trying to hoodwink the taxman.

You need an accountant.

In your previous post you said the company was not profitable, yet here you think it has enough money to pay redundancy, well there must be money sitting in it then!

Previous posts directly contradict each other. Started contracting in March, yet in September hadn’t started at all????

OP is a liar, a sockie or an idiot (or combination of).

[WTFH]

Previous posts directly contradict each other. Started contracting in March, yet in September hadn’t started at all????

OP is a liar, a sockie or an idiot (or combination of).

I don’t believe he is a sockie, I believe he has been given some bad accountancy advice from friends/relatives, or perhaps none at all and possibly thinks that he doesn’t need to pay tax etc.

[northernladuk]

WWTFHS. We see plenty of these types on here thrashing about so although very strange it's not beyond the realms of possibility. Look at the guys story in the link I posted. Makes some incredible reading buy I've no doubt there are plenty of people like that out there.

[Lance]

WWTFHS. We see plenty of these types on here thrashing about so although very strange it's not beyond the realms of possibility. Look at the guys story in the link I posted. Makes some incredible reading buy I've no doubt there are plenty of people like that out there.

In that link HMRC accused the locum of basically lying and the tribunal ‘were sympathetic’ to that view.

There are plenty of people who think they can just get away with it, and many do unfortunately. I have zero sympathy when they get caught.
The OP probably isn’t a sockie, but the conflicting tales suggest a liar to me. One trying to see if a slightly different lie has a different outcome (trying it on here before trying it on with HMRC).

[ChimpMaster]

I don’t believe he is a sockie, I believe he has been given some bad accountancy advice from friends/relatives, or perhaps none at all and possibly thinks that he doesn’t need to pay tax etc.

Isn't it a CUK rule to ban anyone accusing others of being a sockie in the professional forums? Or did I misread that sometime earlier.

[northernladuk]

Isn't it a CUK rule to ban anyone accusing others of being a sockie in the professional forums? Or did I misread that sometime earlier.

That's the Wednesday afternoon rule. It's different on a Thursday morning. How rigorously it's enforced also depends on the mood of any one of the mods at any given time..

Hope that clears it up for you.