Should Contractors pay their fair share of tax? - Contractor UK Bulletin Board

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!

X

d000hg

My post count is Majestic

d000hg is a fount of knowledge

Join Date:

Dec 2007

Location:

My house

Posts:

38983

Thanks (Given):

219

Thanks (Received):

677

Likes (Given):

649

Likes (Received):

2,915
#11

27 January 2016, 14:36

Originally posted by DimPrawn View Post

~~Fair~~ stupid would be a flat rate of tax..

FTFY

Originally posted by MaryPoppins

I'd still not breastfeed a nazi

Originally posted by vetran

Urine is quite nourishing
Reply With Quote
Comment
AtW

I post more often than I breathe

AtW is always on top

Join Date:

Jul 2005

Posts:

63202

Thanks (Given):

2,286

Thanks (Received):

1,319

Likes (Given):

12,616

Likes (Received):

5,563
#12

27 January 2016, 15:06

Originally posted by DimPrawn View Post

Fair would be a flat rate of tax. Say 25% of whatever you earn, whether it be £20K or £2M p.a. But we all know, those in the middle pay the most.

Germany has got 25% flat dividends tax... beats near 40% mark in this country from April
Reply With Quote
Comment
NotAllThere

Permie Swiss

NotAllThere is always on top

Join Date:

Aug 2007

Location:

Far away from HMRC

Posts:

27985

Thanks (Given):

642

Thanks (Received):

2,425

Likes (Given):

4,671

Likes (Received):

8,780
#13

27 January 2016, 15:13

Originally posted by Unix View Post

Yes 10%

Unfair! 1% seems fairer - and then we could laugh at all the scheme users paying such high tax rates.

Down with racism. Long live miscegenation!
Reply With Quote
Comment
PurpleGorilla

Godlike

PurpleGorilla - scorchio!

Join Date:

Jul 2013

Posts:

5820

Thanks (Given):

663

Thanks (Received):

312

Likes (Given):

2,993

Likes (Received):

1,298
#14

27 January 2016, 15:21

I pay more tax as a ltd co (VAT & Corp tax) than when I was a permie.

http://www.cih.org/news-article/disp...housing_market
Reply With Quote
Comment
NotAllThere

Permie Swiss

NotAllThere is always on top

Join Date:

Aug 2007

Location:

Far away from HMRC

Posts:

27985

Thanks (Given):

642

Thanks (Received):

2,425

Likes (Given):

4,671

Likes (Received):

8,780
#15

27 January 2016, 15:24

Originally posted by PurpleGorilla View Post

I pay more tax as a ltd co (VAT & Corp tax) than when I was a permie.

As a ltd co, you don't pay VAT. You just collect it and hand it over.

Down with racism. Long live miscegenation!
Reply With Quote
Comment
d000hg

My post count is Majestic

d000hg is a fount of knowledge

Join Date:

Dec 2007

Location:

My house

Posts:

38983

Thanks (Given):

219

Thanks (Received):

677

Likes (Given):

649

Likes (Received):

2,915
#16

27 January 2016, 15:29

Originally posted by PurpleGorilla View Post

I pay more tax as a ltd co (VAT & Corp tax) than when I was a permie.

You probably earn a lot more too, so what is your point? Google pay more tax than your company, so that's all OK too?

Originally posted by MaryPoppins

I'd still not breastfeed a nazi

Originally posted by vetran

Urine is quite nourishing
Reply With Quote
Comment
VectraMan

Lord of the Vectras

VectraMan - scorchio!

Join Date:

Dec 2005

Location:

European Union (Yorkshire)

Posts:

11460

Thanks (Given):

71

Thanks (Received):

233

Likes (Given):

322

Likes (Received):

1,223
#17

27 January 2016, 15:30

Originally posted by PurpleGorilla View Post

I pay more tax as a ltd co (VAT & Corp tax) than when I was a permie.

You pay more VAT & Corporation Tax than when you were a permie?

Well I'm shocked.

Will work inside IR35. Or for food.
Reply With Quote
Comment
jamesbrown

More fingers than teeth

jamesbrown is a fount of knowledge

Join Date:

Dec 2011

Posts:

13454

Thanks (Given):

271

Thanks (Received):

1,433

Likes (Given):

1,811

Likes (Received):

5,385
#18

27 January 2016, 15:31

Originally posted by PurpleGorilla View Post

I pay more tax as a ltd co (VAT & Corp tax) than when I was a permie.

You collect and remit VAT and it's doubtful whether more tax was paid overall. Your employer was paying CT on any profits you generated, as well Employer's NI etc. These comparisons always strike me as being fatally flawed. It's like comparing contract income w/ a permie salary, apples and pears.
Reply With Quote
Comment
AtW

I post more often than I breathe

AtW is always on top

Join Date:

Jul 2005

Posts:

63202

Thanks (Given):

2,286

Thanks (Received):

1,319

Likes (Given):

12,616

Likes (Received):

5,563
#19

27 January 2016, 15:40

Originally posted by jamesbrown View Post

You collect and remit VAT and it's doubtful whether more tax was paid overall. Your employer was paying CT on any profits you generated, as well Employer's NI etc. These comparisons always strike me as being fatally flawed. It's like comparing contract income w/ a permie salary, apples and pears.

No, they are not fatally flawed - businesses help generate more activity and result in more tax paid, that should be taken into account when taking them directly via corp tax, and also when taxing dividends. VAT is big revenue stream for the budget, much more so than corp tax actually.
Reply With Quote
Comment
FatLazyContractor

Banned

FatLazyContractor is NOT a disguised employee

Join Date:

Sep 2014

Location:

In NLyUK's knickers

Posts:

7799

Thanks (Given):

352

Thanks (Received):

304

Likes (Given):

2,683

Likes (Received):

1,218
#20

27 January 2016, 15:41

Originally posted by MarillionFan View Post

I guarantee no contractor is taking home more than me unless they're on more than 7k a week.

What? Chips?

You fat fu<k
Reply With Quote
Comment

11 to 20 of 74 Previous 1 2 3 4 5 8 template Next

Working...

X