The 'who's' getting shafted over tax avoidance thread?

[doodab]

None of this dodges taxes though, eh?

And neither does taking a loan from ones company and then paying it off with a dividend. The effect is the same as crediting the dividend directly, it's nothing more than an accounting convenience.

[AtW]

And neither does taking a loan from ones company

At 0% MASSIVE unsecured loan without any time limits?

So, are you saying now that the following is not tax dodge:

1) setup Ltd
2) invoice for work via Ltd
3) pay 20% corp tax
4) loan yourself all the money, no security etc - 0% rate, but say 4% or whatever BIK rate
5) spend on hookers, cars, drugs - when you default company just winds up

So, one such loan per year from new company with effective tax rate of like 25%?

[MarillionFan]

At 0% MASSIVE unsecured loan without any time limits?

So, are you saying now that the following is not tax dodge:

1) setup Ltd
2) invoice for work via Ltd
3) pay 20% corp tax
4) loan yourself all the money, no security etc - 0% rate, but say 4% or whatever BIK rate
5) spend on hookers, cars, drugs - when you default company just winds up

So, one such loan per year from new company with effective tax rate of like 25%?

Hookers and drugs are expensible.

[AtW]

Hookers and drugs are expensible.

If it's escorts business then they are wholly necessary right?

[doodab]

At 0% MASSIVE unsecured loan without any time limits?

So, are you saying now that the following is not tax dodge:

1) setup Ltd
2) invoice for work via Ltd
3) pay 20% corp tax
4) loan yourself all the money, no security etc - 0% rate, but say 4% or whatever BIK rate
5) spend on hookers, cars, drugs - when you default company just winds up

So, one such loan per year from new company with effective tax rate of like 25%?

No, I'm saying that taking a loan and paying it off in a short timeframe with a dividend, which is what Chris Hoy has actually done, isn't a tax dodge.

[MarillionFan]

If it's escorts business then they are wholly necessary right?

Staff bonding.

[AtW]

No, I'm saying that taking a loan and paying it off in a short timeframe with a dividend, which is what Chris Hoy has actually done, isn't a tax dodge.

What is it - legitimate bona fide business operation for the company that he is a director of?

[Mich the Tester]

What is it - legitimate bona fide business operation for the company that he is a director of?

Yes.

[AtW]

Yes.

In which case I'd like to apply for such 0% loan from his company to buy a house (but he does not get any security on it), without any specific term to repay loan.

[doodab]

In which case I'd like to apply for such 0% loan from his company to buy a house (but he does not get any security on it), without any specific term to repay loan.

You can't apply because you are not a director of his company. You are however free to take such a loan from your own company.