Reply to: Top end guys don't have a ltd

[Flashman]

FFS do I look like an Aussie pole-choker to you (for that is who this is )

At least he's quite an entertaining troll, though.

[MaryPoppins]

I like him actually, even if his username sounds like it comes from a governmental hygiene recommendation

FTFY.


Hopefully.

[sasguru]

Quiet afternoon in Portugal Sas ?

FFS do I look like an Aussie pole-choker to you (for that is who this is )

At least he's quite an entertaining troll, though.

[MrMarkyMark]

I like him actually, even if his username sounds like it comes from a governmental feminine hygiene recommendation

[ContractorHardman]

The point is, the additional overhead and hassle you go through to run a LTD just isn't worth it when your bringing in top dollar.

Yeah I could save 20% tax (I doubt it's that much)... But who cares. 80% of a pile is still a pile. And I have no hassle, and get my dough every two weeks instead of having to leave it in a company account and take a divvie. And I don't have to worry about IR35, business accounts, receipts, etc etc. I just stash some cash for tax and that's that.

I'm telling you, I'm not exaggerating - the majority of the big contractors are not running LTDs. But if you want to take the p1ss go for it. It's your lower level guys who do all that stuff- because they have too. Contracting at low levels is a one way ticket out of careerdom for them- so they have to do maximum milking. For those who chose their skill set with a wise long term view, who will come back in to senior perm roles on 100k+ at the end of contracting - it's not so important.

I know a BA who jumps through many hoops and pays 10% tax legally. Bores the life out of me he does- once he starts talking abour his complicated setup. The amount of flying he has to do, maintaining properties in various places- ridiculous, and a bit bad taste actually. I enjoy paying a lot of tax, since I take lot of dough out for doing not very much.

The energy is better spent learning a better skill that earns more money. Then kick back and define your lifestyle. That's true freedom. The hassle that you boys go through is beyond a joke- it's not freedom but another form of hardship. You're a slave to your accounts.

For the same reason, I didn't save any money when I was a permie in my 20s. I made sure I was doing work to set up my contracting career, and I partied all my permie income away. It was not efficient to save at those levels. I saved plenty once I started contracting. Why waste your time?

I am just messing with you pal! Thanks for the effort on the post though, I didn't read it! You may be at the top of your game but you are at the bottom of my concerns

[vetran]

I am all choked up.

You should change your Monday special then!

[northernladyuk]

I reckon you should try an Aussie accent.

I am all choked up.

[SueEllen]

Isn't back to front rhyming slag?

See you next...

(Deliberately spelt wrong.)

[Dylan]

Isn't back to front rhyming slag?

[DimPrawn]

Gotcha.


Chuck another shrimp on the Barbie, Sheila..

[ChimpMaster]

<snip>
I'm telling you, I'm not exaggerating - the majority of the big contractors are not running LTDs. But if you want to take the p1ss go for it. It's your lower level guys who do all that stuff- because they have too. Contracting at low levels is a one way ticket out of careerdom for them- so they have to do maximum milking. For those who chose their skill set with a wise long term view, who will come back in to senior perm roles on 100k+ at the end of contracting - it's not so important.

I know a BA who jumps through many hoops and pays 10% tax legally. Bores the life out of me he does- once he starts talking abour his complicated setup. The amount of flying he has to do, maintaining properties in various places- ridiculous, and a bit bad taste actually. I enjoy paying a lot of tax, since I take lot of dough out for doing not very much.

<snip>

1. The majority of 'big contractors' I knew in the City were in the past using dodgy tax avoidance schemes. No doubt you are too, in your theoretical mind as it slips slowly into a state of delightful dementia.
2. £100k perm salary is really not that much any more if you are capable.
3. "maintaining properties in various places"? What's that got to do with anything. I guess you're one of his tenants, given that you enjoy throwing money away.

Idiot. 81.

[MaryPoppins]

I reckon you should try an Aussie accent.

Gotcha.


Chuck another shrimp on the Barbie, Sheila..

[mudskipper]

I read that (sadly rather disjointed) monologue in my head using a hybrid Partridge/Brent voice - most enjoyable.

I reckon you should try an Aussie accent.

[MaryPoppins]

I read that (sadly rather disjointed) monologue in my head using a hybrid Partridge/Brent voice - most enjoyable.

[kaiser78]

The 'hassle' is a few hours maximum each month ... yes, MONTH. To create the invoice, complete my expense forms and update my spreadsheet. Then once a year I send this off to my accountant to process. He sorts out my quarterly payroll so no hassle for me there. So yes, 25 hours a year is a real hassle

Don't rise to it mate. OP's just a spouting jerk trying to get some attention - must have been picked on by the girls when he was little.