Originally posted by Andyw
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Tax Investigations....
Collapse
X
-
Blair, you cannot reach me now,
No matter how you try,
Goodbye cruel Labour,
Your end is nigh.
International Talk Like a Pirate Day -
But you cant say a figure of what the taxman says you owe can you !
and a small flat in the west end is not a good amount !Comment
-
--------------------
deleted
--------------------
I was going to state a rough figure, but I thought better of it as it could be used against me.
All things are relative. What you could do with amount x in 2000 is different to what you can do with the same amount today. Hence the comparison with house prices.Blair, you cannot reach me now,
No matter how you try,
Goodbye cruel Labour,
Your end is nigh.
International Talk Like a Pirate DayComment
-
Comment
-
Originally posted by ArdescoIf he was a plumber and got done for 28k he is either flush and hasn't bothered paying his tax and can afford it or is very very stupid and didn't take enough untraceable cash in hand
plumber, flush - very witty.
he probably went round the bend because he couldnt crack the cistern.
I'll get me coat
(\__/)
(>'.'<)
("")("") Born to Drink. Forced to WorkComment
-
A mate, a builder, was in a partnership but unbeknown to him the partner hadn't been paying VAT properly. My mate's share of the bill was 40 grand, he had to take out a new mortgage to pay it.Comment
-
Same as it's always been. Revenue tend to be more relaxed, as long as you are not obviously taking the piss. Annoy the VAT man at your peril. They tend to take it personally."Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
-
-
Originally posted by AtWSurely this is not true - I thought there was a law which would basically state that pretty much only unpaid tax (if any) can be levied plus some extra fine on top, but nothing unreasonable, ie not £1000 fine for £100 unpaid tax.
The maximum penalty is 100% of the tax due.
And you have to do something really bad to get 100%.
Simple negligence 'with coperation' is going to get a 20-30% penalty.
timComment
-
Originally posted by tim123The maximum penalty is 100% of the tax due.
If that's the case then Blaster's comment - "This is quite normal, if you get selected for investigation each little mistake is subject to a minimum £1000 penalty (or something like that), for example a receipt that can't be justified etc."
is not correct.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment