Reply to: The biggest cheque I ever wrote...

[BrilloPad]

...just cleared from my business account. Corporation tax bill for my first full year of contracting/freelancing/running my business.

Feel a bit sick now

I once paid £130k by cheque. But it was towards paying off mortgage so I didn't mind.

[orac]

this years corporation tax

this years corporation tax

Nil

Company loss (2,500)

therefore

already money off next year

before you start personal tax also nil

[KentPhilip]

You should write a book like Felix Dennis did. And coat the front and back covers with photos of all the cheques he wrote to the Inland Revenue. One million Five Hundred and twenty six thousand and blah blah
Eight million six hundred thousand....
the book was called "how to get rich"
The best therapy...

[swamp]

Don't know about writing the biggest cheque, but I've just received the biggest cheque of my life after selling my old flat.



And it's tax free!

[HairyArsedBloke]

I think for me the defining moment was when I realised that I got to choose my own hotels, transport and office kit.

Oh yeah, baby. That is one orgasmic moment.

[Sysman]

If you're paying more in tax than you used to bring home, you need a tax accountant... The defining moment is when you're avoiding more tax than you used to bring home.

Not really true when you started work in the inflationary 70s.

I think for me the defining moment was when I realised that I got to choose my own hotels, transport and office kit. If I chose cheap, it left me with more profit, but if necessary I could choose expensive to get the job done properly.

[Jeebo72]

You could always earn less money! The bigger the cheque, the more you made, enjoy ...

[badger7579]

...just cleared from my business account. Corporation tax bill for my first full year of contracting/freelancing/running my business.

Feel a bit sick now

Know what you mean, had to the same thing last month... It does hurt

[NotAllThere]

If you're paying more in tax than you used to bring home, you need a tax accountant... The defining moment is when you're avoiding more tax than you used to bring home.

[Lumiere]

What's a "cheque"? Is that a special type of internet banking?

Allows you to send someone a single payment > £10000 for free ...

[d000hg]

how big though? eh? hmm? eh?

A gentleman doesn't mention numbers. Fairly close to what I used to earn 5 years ago... I am just about at what I'm told is a defining moment, when you first pay more in tax than you used to bring home.

[DS23]

how big though? eh? hmm? eh?

[HairyArsedBloke]

...just cleared from my business account. Corporation tax bill for my first full year of contracting/freelancing/running my business.

Feel a bit sick now

I had the same reaction when I did my first one over twenty years ago.

Now I don't have to worry about such things.

[d000hg]

What's a "cheque"? Is that a special type of internet banking?

It's what my accountant recommended. Given that they work exclusively over the internet with me, I don't think they are stuck in the past.

[sweetandsour]

What's a "cheque"? Is that a special type of internet banking?

I think it is a primitive form of payment mechanism used during the last century.

I have a vague recollection of taking ten cheques for £1.40 into the cashiers' office of my local council to pay all ten instalments of my (reduced) Community Charge bill sometime in 1992 or 1993.

For some reason the cashier was not very amused.