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

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d000hg

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#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

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#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
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#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!
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#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
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#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!
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#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?

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#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.
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#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.
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#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.
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#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
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