Socialist tax efficiency

[vwdan]

You are not a proper business and therefore you should not be allowed to claim the tax friendly benefits of working as one. You do not employ people nor do you have any intention of doing so. I bet you pay little or no NI and I bet you also pay dividends. Your own position has been under considerable scrutiny from the revenue for many years and it still is. the fact that you call what you do "transparent" is neither here nor there. you are still avoiding tax using a loophole. The fact that it may be more legitimate than other schemes does not give you the right to judge others.

Uh, tell me more about how I'm not a proper business. Last I checked, hiring staff wasn't a pre-requisite.

That said, I'm super glad you replied with that because for a moment there I was worried you had an argument based on some facts or something. Now I realise you're borderline trolling.

[DodgyAgent]

Uh, tell me more about how I'm not a proper business. Last I checked, hiring staff wasn't a pre-requisite.

That said, I'm super glad you replied with that because for a moment there I was worried you had an argument based on some facts or something. Now I realise you're borderline trolling.

Your Ltd company is a vehicle for earning and minimising tax. In other words avoiding tax.

[SimonMac]

You are not a proper business and therefore you should not be allowed to claim the tax friendly benefits of working as one. You do not employ people nor do you have any intention of doing so. I bet you pay little or no NI and I bet you also pay dividends. Your own position has been under considerable scrutiny from the revenue for many years and it still is. the fact that you call what you do "transparent" is neither here nor there. you are still avoiding tax using a loophole. The fact that it may be more legitimate than other schemes does not give you the right to judge others.

Except for the part about a proper business or not, as much as I hate to agree with him, but he's right.

I am a Ltd company because it is more beneficial to me, simple as.

This is where the distinction between evasion and avoidance needs to be clearly made, as with most other aspects in life if you don't agree with something fight for it to be changed rather than demonise the people who make use of the loopholes the government leave.

[eek]

Your Ltd company is a vehicle for earning and minimising tax. In other words avoiding tax.

Sadly not. In my case the separate legal company is a legal requirement forced upon me by laws implemented to protect the general public from dodgy employment agencies in the mid 1970's. Granted there may be tax implications due to the way I work but you need to separate out the earning bit from the tax bit.

But remember the reason we need a limited company is due to your dodgy parents....

[eek]

Except for the part about a proper business or not, as much as I hate to agree with him, but he's right.

I am a Ltd company because it is more beneficial to me, simple as.

This is where the distinction between evasion and avoidance needs to be clearly made, as with most other aspects in life if you don't agree with something fight for it to be changed rather than demonise the people who make use of the loopholes the government leave.

In my case I use a Ltd company because I don't trust anyone else with my money. I mean have you seen the typical umbrella companies accounts... All that turnover and so little profit. And why do they pay so much tax....

[vwdan]

Your Ltd company is a vehicle for earning and minimising tax. In other words avoiding tax.

No it's not - my Ltd Company is a vehicle for trading while minimising my personal liability and ensuring the company is its own legal entity, just like every other Ltd Company out there.

[DodgyAgent]

No it's not - my Ltd Company is a vehicle for trading while minimising my personal liability and ensuring the company is its own legal entity, just like every other Ltd Company out there.

"minimising my personal liability"

In other words tax avoidance.

[vwdan]

"minimising my personal liability"

In other words tax avoidance.

What? No - which bit of "Limited Liability Company" don't you grasp?

[eek]

What? No - which bit of "Limited Liability Company" don't you grasp?

I think he is talking about your coffee and lunch...

[vwdan]

I think he is talking about your coffee and lunch...

You forgot breakfast, dinner, mileage, first class trains, hotel rooms, laundry (I do this under the £5 per night allowance), software purchases, e-mail, accountancy, hardware purchases, training, exams, vendor partner schemes and everything else HMRC say I can legitimately claim for