BN66 - Round 2 (Court of Appeal)

[Squicker]

squicker my timing was awful, the day before that was on the forum I posted that about the courts.....gives me a bit more hope since finding out about the supreme court!

:-) Well, we only have to hold our breath a little bit more I think...

[seadog]

Anyone else having problems since they "upgraded" CUK?

I could probably learn to live with the new look and feel (even though I preferred the old minimalist style) but it runs sooooo damn slowly on my older computer I can't be doing with it.

This is one instance where I would fully support retrospection.

I guess HMRC will be pleased though if it curtails my activities.

To the Admisnistrator:-
What prompted the change, and what is the supposed benfit off the change to the format.

Unless there are some unseen technical benefits it isn't obvious to me that it has any benefit to the users. As a property developer I dont use any of the other CUK forums so I dont know if you are changing all teh forum formats.

Can I suggest you you an urgent review with a view to returning to the previous format.

[cojak]

And if you posted this somewhere more appropriate, they might read it.

Forum Feedback

[NickFitz]

To the Admisnistrator:-
What prompted the change, and what is the supposed benfit off the change to the format.

Unless there are some unseen technical benefits it isn't obvious to me that it has any benefit to the users. As a property developer I dont use any of the other CUK forums so I dont know if you are changing all teh forum formats.

Can I suggest you you an urgent review with a view to returning to the previous format.

I'm not the administrator and cannot speak on his or the site's behalf, but I am involved with the forum upgrade and can explain some of the reasons for it.

The forums are powered by a bit of software called vBulletin. Previously the site was running on version 3. Version 4 was released last year, and that is the version to which the forum has now been upgraded. As a result of the release of version 4, the makers of the software will in the future cease to support version 3, and this will result in it becoming increasingly insecure.

All web software is susceptible to security vulnerabilities, and malevolent people put a lot of effort into discovering such vulnerabilities. A widely-used piece of software like vBulletin is an important target for such ne'er-do-wells, as the discovery of a vulnerability allows them to attack many thousands of web sites and thereby infect the computers of many millions of people with malware, spyware, trojans, viruses, botnet software... you name it, they will try to do it.

Once support for version 3 of vBulletin ends, any security holes in it will remain unpatched. If the forum continued to run on that version, then every user of the forum would in the future be at risk of having their computer attacked, simply by visiting the site, when a new vulnerability was discovered and exploited. By moving to version 4, the site is running on a version that will continue to be upgraded whenever a risk of attack is discovered, and the users of the site will be safer than they would otherwise be.

If you are having problems because you are using Internet Explorer version 6 or 7, rest assured that I am working to improve support for those browsers. (Internet Explorer 8 doesn't seem to have any problems, apart from a few teething troubles that also affect browsers such as Safari, Opera, Firefox, and Chrome.) Some quick fixes have already been rolled out to deal with one or two of the most obvious problems, and the work continues.

It is also planned to offer a less obtrusive colour scheme, for those who don't like this one, and a scheme more suitable for use with handheld devices such as mobile phones.

If you have any specific bugs you would like to report, please check the thread cojak links to in the post above this one and, if you don't already see it listed, add it on. Your help will be much appreciated, as it is a non-trivial challenge for one individual to check every single aspect of the site on seven different browsers for Windows, four browsers for Macintosh, and five for Linux - a total of sixteen different combinations.

[DownButNotOut]

preparing for the worst

a bit off thread but advice needed. if i have the funds to pay my current liability but the funds are sitting in my company account how I withdraw them?

If I withdraw them as a dividend wouldn't I have to pay tax on the tax?

[Emigre]

a bit off thread but advice needed. if i have the funds to pay my current liability but the funds are sitting in my company account how I withdraw them?

If I withdraw them as a dividend wouldn't I have to pay tax on the tax?

Firstly, if you make a payment to HMRC and we eventually win you may find it very difficult to get your money back, and if you do there will be little or no interest paid with it. So on account is not advised. By all mean get a CTD if that makes you sleep happier, see first post on this thread for info.

In terms of extracting funds out of limited companies, you are right that you will pay tax on any dividend, although you will be able to offset the tax credit attaching to the dividend. If your dividends are in the basic rate band that is the tax that you will effectively pay. If some or all are in the higher rate band those are the rates you'll pay.

There are more efficient ways of getting funds out of companies, some more aggressive than others, but you should seek professional advice on this. There is no one hat fits all answer. Your age and personal circumstances will dictate what options are available to you.

You are under no real pressure to make that payment now so you have time to properly review your options. If you can find a solution to getting cash out of your Ltd you may wish to use that solution anyway, paying HMRC only when and if the Courts rule that they are allowed to come calling.

HTH

[WhiteCat]

Perparing for the worst & extracting company money

a bit off thread but advice needed. if i have the funds to pay my current liability but the funds are sitting in my company account how I withdraw them?

If I withdraw them as a dividend wouldn't I have to pay tax on the tax?

Emigre's right, there will always be a tax liability on what you extract from the company. I set up a subsidiary company some years ago which bought (on a company mortgage) a house which is currently rented out. I thought of selling up and using the equity in the house to buy CTDs, but paying CGT on the house sale, then tax at 40% on the dividends I'd need to take money out of the company made this a ridiculous option, just to pay yet more tax.

I'm now just remortgaging my family home for as much as I can get. With mortgage rates down below 3% it's a good way of conjuring money out of nothing. Might be worth considering if this is a possibility for you ?

[Morlock]

Takling Funds Out of Ltd Coy

a bit off thread but advice needed. if i have the funds to pay my current liability but the funds are sitting in my company account how I withdraw them?

If I withdraw them as a dividend wouldn't I have to pay tax on the tax?

Consider taking the funds out as a loan, and paying the loan back in installments. Charge yourself a realistic rate of interest (eg BOE Base Rate) otherwise you'll be taxed on it as a benefit in kind (as if the company had actually paid you the interest). The repaid interest becomes taxable profit for the company.

[DonkeyRhubarb]

Consider taking the funds out as a loan, and paying the loan back in installments. Charge yourself a realistic rate of interest (eg BOE Base Rate) otherwise you'll be taxed on it as a benefit in kind (as if the company had actually paid you the interest). The repaid interest becomes taxable profit for the company.

According to HMRC, the minimum interest rate for a loan not to be treated as a BIK is currently 4%. God knows how they come up with this but clearly it bears no relation to the base rate.

HM Revenue & Customs: Rates and allowances - interest rates

[KiwiGuy]

a Billion

The next time you hear a politician use the
Word 'billion' in a casual manner, think about
Whether you want the 'politicians' spending
YOUR tax money.

A billion is a difficult number to comprehend,
But one advertising agency did a good job of
Putting that figure into some perspective in
One of it's releases.

A.
A billion seconds ago it was 1959.

B.
A billion minutes ago Jesus was alive.

C.
A billion hours ago our ancestors were
Living in the Stone Age.

D.
A billion days ago no-one walked on the earth on two feet.

E.
A billion Pounds ago was only
13 hours and 12 minutes,
At the rate our government
Is spending it.


Stamp Duty
Tobacco Tax
Corporate Income Tax
Income Tax

Council Tax
Unemployment Tax
Fishing License Tax
Petrol/Diesel Tax
Inheritance Tax
(tax on top of tax)
Alcohol Tax
V.A.T.
Marriage License Tax
Property Tax
Service charge taxes
Social Security Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Workers Compensation Tax

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago...
And our nation was one of the most prosperous in the world.

We had absolutely no national debt...
We had the largest middle class in the world...
And Mum stayed home to raise the kids.

What happened?
Can you spell 'politicians!'


I hope this goes around the UK
At least 100 times
What the hell happened?????