Originally posted by cailin maith
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Dodgy contractor schemes, undercutting and competition
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While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.' -
Originally posted by doodab View PostThe two structures are so different that you either compare net contributions to the exchequer or you pick some basically random numbers out of the ether. If you're going to willfully miss or avoid that point there is no point in debating it.Comment
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Originally posted by cailin maith View PostOh and ATW don't you weigh in here with your guff. You are in the unique (certainly in here) position that you actually run a bona fide business with employees etc. I don't want to get into a stupid debate with you.
My view that Ltd contractors pay corp tax and then income tax on dividends, NICs should be merged with income tax and therefore make it completely clean.
Splitting ownership (shares) with wife is also OK in my view given that wifes in UK own 50% anyway - it's only fair that they'll own 50% of liabilities then.Last edited by AtW; 20 March 2014, 17:07.Comment
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Originally posted by Old Greg View PostWhat I find interesting (and I'm not taking a shot at CM here cos I'm not like that) is the outraged denial particularly in the hallowed grounds of the NTRT thread that a low cost base leads to undercuttingComment
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Originally posted by sasguru View PostI doubt it's happened very much to me, and I'm expensive.
The "scheme folk" are judgement-lacking cretins, perhaps they congregate in certain sectors not others?
OG's point hardly seems worth debating, it's so obvious. It's the same as a builder who offers a decent discount for cash-in-hand versus one who insists on doing everything through the books. They can cahrge the same and one makes more profit, or one can undercut the other.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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I came across consulting companies wining business on the basis of phoney experience/knowledge they did not really have. Scheming and dishonesty pays these days.If UKIP are the answer, then it must have been a very stupid question.Comment
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Originally posted by mos View PostI came across consulting companies wining business on the basis of phoney experience/knowledge they did not really have. Scheming and dishonesty pays these days.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
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Originally posted by AtW View PostTo be fair they are right - the main objective of those dodgy schemes is to screw over the Govt (all taxpayers) rather than specific contractors. Typically people who got into those schemes had good enough contracting record to make lots of money and they really resented paying tax on that whole wad.
2. Anecdotally, I think a lot of newbies got sacked into schemes. Perhaps that's not the general picture.Comment
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It is possible scheme users could have undercut Ltds. Just like it's possible Ltds could undercut umbrella users.
But I don't think this is anything you need to worry about in future.
Any scheme users that aren't bankrupt are going back to Ltd.Last edited by DonkeyRhubarb; 20 March 2014, 17:37.Comment
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Originally posted by Old Greg View PostI dare not stray onto the holy ground of the NTRT thread for fear of angering the Mighty Ones.Comment
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