Originally posted by d000hg
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Coproration Tax To Rise to 25%
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Originally posted by d000hg View PostA small hair salon? A sandwich shop or pub? Someone running a B&B?
Really not hard when you look outside your own bubble. Many businesses make very little profit especially if they pay salaries rather than just use dividends.
For that matter, many contractors have profits under £50k once salary and pension and everything is worked out.
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Originally posted by Great Parks View Post
Hardly. How many of those you've listed are going to be incorporated?
There are also tradesmen who are incorporated. Some of them will make under 50K profit."You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by Great Parks View Post
Hardly. How many of those you've listed are going to be incorporated?
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When the Govt announced self employed Coronavirus support it was restricted to profits of upto £50K per annum. Strange the number is the same even though the business model is different, self employed don't pay Corp Tax... somebody somewhere in the civil service has a 50K magic number somewhere?This default font is sooooooooooooo boring and so are short usernamesComment
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Originally posted by MPwannadecentincome View Postsomebody somewhere in the civil service has a 50K magic number somewhere?Comment
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Well, in this case this is profits, which would be after PAYE costs and pension, but yes you could be right on the what people perceive as being well off.
I predict some large pension payments will be made from 2023 onwards to offset profits to keep the corp tax liability to the minimum.This default font is sooooooooooooo boring and so are short usernamesComment
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Originally posted by MPwannadecentincome View PostI predict some large pension payments will be made from 2023 onwards
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Originally posted by MPwannadecentincome View PostI predict some large pension payments will be made from 2023 onwards to offset profits to keep the corp tax liability to the minimum.
I am what I drink, and I'm a bitter manComment
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