Reduce interest by delaying tax payment

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Cyberman replied

3 May 2009, 20:03
Originally posted by HairyArsedBloke View Post

Don't listen to them; they are having you on.

You can do what you like with the money. You could even blow the whole lot down the bookies and the T-man will just say "Stuff happens" and let you off.

I think that only applies if you are an MP.
Leave a comment:
AtW replied

3 May 2009, 18:09
Originally posted by PM-Junkie View Post

go find a dictionary and look up the words "embezzlement" and "fraud".

But if you are an MP then those rules don't apply to you...
Leave a comment:
HairyArsedBloke replied

3 May 2009, 18:04
Don't listen to them; they are having you on.

You can do what you like with the money. You could even blow the whole lot down the bookies and the T-man will just say "Stuff happens" and let you off.
Leave a comment:
PM-Junkie replied

3 May 2009, 18:02
...or better still, go find a dictionary and look up the words "embezzlement" and "fraud".
Leave a comment:
NotAllThere replied

3 May 2009, 17:57
Go search Accounting/Legal - the question has been asked and answered again and again and again.
Leave a comment:
threaded replied

3 May 2009, 14:53
The money in your company belongs to your company, not to you.

If you can't work out the rest from that statement, then before you get yourself in serious trouble, find a nice old accountant who can spare the time to talk to you about being in business and what it means.
Leave a comment:
Tilamok started a topic Reduce interest by delaying tax payment

3 May 2009, 10:41
Reduce interest by delaying tax payment

Hi could someone please help me on this.

I have an offset mortgage with the One Account.

I am a contractor and I'm gonna set up a limited company in the next few weeks. I've been asked when I wish to pay my tax to hmrc. I'm guessing that I can pay the tax at the latest next January.

So instead of the tax sitting in my company account, can I just put it (until next January) in my offset mortgage account to effectively reduce my interest payments?

Thanks
Tags: None