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Reply to: Dear UK government

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Previously on "Dear UK government"

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  • SueEllen
    replied
    Originally posted by vetran View Post
    Paying vat & corp tax monthly for large (> £1m turnover) companies makes sense.
    It makes no sense as larger business claim lots of VAT and corp tax refunds, and find loads of allowances they can claim.

    Leave a comment:


  • vetran
    replied
    sort of makes sense to run Jan 1st to December. Even moving to March 31st makes a lot of sense.

    I would make vat payable on any goods / services imported even below the threshold, its easy enough to automate paying it.

    Paying vat & corp tax monthly for large (> £1m turnover) companies makes sense.

    Leave a comment:


  • SueEllen
    replied
    Originally posted by scooterscot View Post
    You'll continue to have several months to complete your accounts by the end of the calendar year.
    The random date in April is fine for me.

    Leave a comment:


  • scooterscot
    replied
    Originally posted by NibblyPig View Post
    I forsee no issues with resolving last minute accounting problems while your accountant is enjoying a nice Christmas dinner, or is visiting family over that festive period..!
    You'll continue to have several months to complete your accounts by the end of the calendar year.

    Leave a comment:


  • NibblyPig
    replied
    I forsee no issues with resolving last minute accounting problems while your accountant is enjoying a nice Christmas dinner, or is visiting family over that festive period..!

    Leave a comment:


  • AtW
    replied
    Originally posted by Waldorf View Post
    No, employers NIC is only paid on salaries over the threshold which is about £8K, this is why many retailers etc employ staff on contracts of 16 hours, so they have no NIC to pay..
    Well, companies get nothing for paying those NICs, so I see no problems with it - it's the tax that should be paid by the recepient, or more correctly - abolished completely or offset it against corp tax due.


    Originally posted by Waldorf View Post
    Sadly, although it would love to abolish this and other taxes, unless we cut spending, which the public seem to have no appetite for, this this is not possible.
    WHAT??!?!?! Tories were elected on the basis that they will cut spending in 2010!!! And in 2015 they got majority to actually implement it, that's ALL they got mandate for - cut spending to at least break even, nothing else.

    Leave a comment:


  • Waldorf
    replied
    Originally posted by AtW View Post
    Is it not on the whole salary actually received already?

    Pretty big tax too - 13% without threshold, on high rates people pay 45% and 13% extra by company - eye watering level of taxation.

    Employer NICs should not even exist - firms generate jobs in the first places, they should not be taxed for it, especially as they get absolutely nothing from "Employers National Insurance Contributions" - at the very least such contributions should be deducated from corp tax due, at least that would encourage employment.

    I agree with the rest of what you say, however since you are a Gidiot supporter that means you can't be trusted in what you say ...
    No, employers NIC is only paid on salaries over the threshold which is about £8K, this is why many retailers etc employ staff on contracts of 16 hours, so they have no NIC to pay.

    Sadly, although it would love to abolish this and other taxes, unless we cut spending, which the public seem to have no appetite for, this this is not possible.

    I wouldn't quite say I am an Osbourne supporter, it's just that he and the Tories are much better than the alternatives.

    Leave a comment:


  • AtW
    replied
    Originally posted by Waldorf View Post
    make employers NIC payable on the whole salary (to remove the tax incentive for employers to only take on part-timers, zero hour contracts etc)
    Is it not on the whole salary actually received already?

    Pretty big tax too - 13% without threshold, on high rates people pay 45% and 13% extra by company - eye watering level of taxation.

    Employer NICs should not even exist - firms generate jobs in the first places, they should not be taxed for it, especially as they get absolutely nothing from "Employers National Insurance Contributions" - at the very least such contributions should be deducated from corp tax due, at least that would encourage employment.

    I agree with the rest of what you say, however since you are a Gidiot supporter that means you can't be trusted in what you say ...

    Leave a comment:


  • Waldorf
    replied
    I would agree to the tax year being aligned to the calendar year, or at the very least change it to 31st March.

    I would also merge tax and personal NIC, remove most, if not all of the reliefs (most tax schemes involve these), widen the VAT base (easier to collect and harder to avoid), make employers NIC payable on the whole salary (to remove the tax incentive for employers to only take on part-timers, zero hour contracts etc) and others to simplify the whole system.

    No new taxes unless at least two were abolished.

    Leave a comment:


  • barrydidit
    replied
    The day they tax getting wood is the day i move to France.

    Leave a comment:


  • jamesbrown
    replied
    Originally posted by barrydidit View Post
    That's right, once they're helping themselves to a fair amount from your bank account you can just concentrate on collecting firewood to keep warm.
    May hay while the firewood tax doesn't shine.

    Leave a comment:


  • AtW
    replied
    Quarterly tax returns coming soon, so you'll have same pain, but 4 times a year...

    Leave a comment:


  • barrydidit
    replied
    That's right, once they're helping themselves to a fair amount from your bank account you can just concentrate on collecting firewood to keep warm.

    Leave a comment:


  • tomtomagain
    replied
    Don't worry. They plan to make it all automatic. Soon you wont need to fill anything in.

    Leave a comment:


  • scooterscot
    started a topic Dear UK government

    Dear UK government

    Make the tax year equal to the calendar year!!!

    Of all the countries in the world we're one of the very few who operates such a convoluted outdated system.

    The amount of time and energy that would be saved without having to go through two sets of annual books just to satisfy this quirky law dating back to the 17th century.

    Get it sorted!!

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