HMRC think you are tax evading scum - what will you do?

[DimPrawn]

Close up shop, retrain in a trade and get paid cash in hand while sticking two fingers up to HMRC

I know most drag and drop artists here look down on the trades, but with the constant perma-boom in housing and house prices, they make a lot more money than you think, and the cash in hand culture REALLY boosts ones lifstyle, whilst simultaneously to HMR&C.

I know a few "proper" millionaires, they are all ex trades people who used their skills and connections and tax advantages (cough) to do property renovation and live the dream.

[d000hg]

Maybe since you're all "business owners" and "entrepreneurs" you should do what such people do when circumstances change, and adapt your business to a more profitable/less disadvantageous area.

[DimPrawn]

Maybe since you're all "business owners" and "entrepreneurs" you should do what such people do when circumstances change, and adapt your business to a more profitable/less disadvantageous area.

Yep.

[The Spartan]

I know most drag and drop artists here look down on the trades, but with the constant perma-boom in housing and house prices, they make a lot more money than you think, and the cash in hand culture REALLY boosts ones lifstyle, whilst simultaneously to HMR&C.

I know a few "proper" millionaires, they are all ex trades people who used their skills and connections and tax advantages (cough) to do property renovation and live the dream.

My youngest brother has his own roofing company, the other brother is bricklayer as is my brother in law and they are all raking it in, not including what they get paid in cash in hand. I'm thinking of seriously retraining as an electrician and as a sideline installation of home entertainment systems etc

[barrydidit]

I'm gonna go permie at 2 different places and flit between them using holiday, sick days, duvet days, parental leave and WFH in order to maintain my income stream.

[DimPrawn]

My youngest brother has his own roofing company, the other brother is bricklayer as is my brother in law and they are all raking it in, not including what they get paid in cash in hand. I'm thinking of seriously retraining as an electrician and as a sideline installation of home entertainment systems etc

I'd avoid anything fancy like that, just buy cheap knackered property, fix them up, rent them out to those on benefits, rinse and repeat.

[WTFH]

Become a politician.


Hey presto, no problems with expenses.
Guaranteed rate increase every year and you can complain you don't want it but are being forced to take it
Great pension scheme.
Contract renewal every 4-5 years.
More holidays than school teachers.
All you have to do is commit to a series of projects every few years, then not deliver them to plan, on time or within budget.
No issue with IR35.
No qualifications needed.
No agency creaming off your work.
No moral integrity required.
And you can stick 2 fingers up at the chancellor every day you can be ar$ed to go to work.

[aoxomoxoa]

My youngest brother has his own roofing company, the other brother is bricklayer as is my brother in law and they are all raking it in, not including what they get paid in cash in hand. I'm thinking of seriously retraining as an electrician and as a sideline installation of home entertainment systems etc

Why not train to bleed radiators?

[The Spartan]

Why not train to bleed radiators?

lol why not, I'll see what the local skills centre is offering

[Chuck]

My youngest brother has his own roofing company, the other brother is bricklayer as is my brother in law and they are all raking it in, not including what they get paid in cash in hand. I'm thinking of seriously retraining as an electrician and as a sideline installation of home entertainment systems etc

I don't know what line you are currently in, but forget becoming an electrician/plumber/trade of your choice.

I did it and it's incredibly hard. You're a newbie, up against long established competition. Until you become established, you'll get paid peanuts for the few jobs you can find, despite what the tabloid press may have you believe. Your customers, when you can find them, will resent every penny they pay you; they don't think about the insurance, van, tools etc that you have to carry.

The jobs that pay best are the big ones, so you'll need an apprentice or a subbie, at a huge cost and bureaucracy to you. They will let you down by going off sick after a night in the pub watching the soccer. They will turn up late or forget their tools.

It was such a good feeling to leave it all behind and get back in to IT. I may hate it, but it's easy compared to the real world.