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Bounce back tax

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    #21
    Originally posted by Old Greg View Post
    You personally owe the company money, so not as easy to walk away from the company and its debt.
    Especially if one arranges wo/men in suits to extract the debt from oneself

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      #22
      Originally posted by GhostofTarbera View Post
      50K lasts a long time in retirement in Thailand / Vietnam

      Just saying like


      Sent from my iPhone using Contractor UK Forum
      Maybe it does, but unless you take it out as salary, you would still be required to either service the loan until paid (and after 12 months interest is due as well) or pay back the loan before you closed the company.

      If you think the UK Gov can't touch you in Thailand you are sorely mistaken

      Similarly I can't see £50K lasting more than 3 years in Thailand having spenf a lot of time there working - yes a Thai can live on less but a "farang" with all the double-pricing etc. would really struggle to live on £16K a year for any length of time (unless you really like squalour)

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        #23
        Originally posted by oilboil View Post
        Maybe it does, but unless you take it out as salary, you would still be required to either service the loan until paid (and after 12 months interest is due as well) or pay back the loan before you closed the company.

        If you think the UK Gov can't touch you in Thailand you are sorely mistaken

        Similarly I can't see £50K lasting more than 3 years in Thailand having spenf a lot of time there working - yes a Thai can live on less but a "farang" with all the double-pricing etc. would really struggle to live on £16K a year for any length of time (unless you really like squalour)
        I am pretty sure it was just a joke.

        Most people here are contractors earning 100-150k+ a year (200k+ a year technically to qualify for 50k loan), probably not gonna take 50k and go on the run lol.

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          #24
          Originally posted by elsergiovolador View Post
          Especially if one arranges wo/men in suits to extract the debt from oneself
          Tarby can give you some tips on where to find such people if needed

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            #25
            Originally posted by ladymuck View Post
            Tarby can give you some tips on where to find such people if needed
            £50K would last me about 6 weeks in Thailand anyhoo


            Sent from my iPhone using Contractor UK Forum

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