Tax - how much of your gross do you pay?

peterwalkley said:
How are you getting round IR35 ? Those rules were introduced to stop people taking the mick when it came to salary vs dividend income.

EDIT: And you are taking the mick.
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As a locum pharmacist one day I might work for Boots, another day Lloyds, Tesco, various Independents within a 60mile radius. IR35 need not apply as I'm in different stores all the time.

Am I scamming the system or have I just set my affairs up such that I minimise what I have to pay?

Also if I make pension contributions via the company I don't have to pay the 20% corporation tax on that so theoretically if I could live on £670 I could siphon all the profits into a company pension paying no tax until retirement.
 
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robfosters said:
No, you're a Tax fiddler. I'm phoning HMRC. And wtf is a freelance pharmacist anyway?
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Freelance also called locum pharmacists basically works for themselves and gets work either through and agency or contacts, usually working at a firm just for a day or sometimes block multiple day bookings. Payment is made gross into a company bank account.
 
coolsurfer said:
Also if I make pension contributions via the company I don't have to pay the 20% corporation tax on that so theoretically if I could live on £670 I could siphon all the profits into a company pension paying no tax until retirement.
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No you couldn't, there's an annual limit how much you can contribute to your pension (both your own and company contributions) after which it's taxable.
 
Wouldn't it be easier to set up a holding company in the Cayman Islands who pay you via short term scrip credit default swaps that you use to buy gold Krugerrands which are cashed out into Bitcoin on the international dateline each night through an automated buyback mezzanine financing arrangement?
 
Pudney said:
No you couldn't, there's an annual limit how much you can contribute to your pension (both your own and company contributions) after which it's taxable.
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Youre right I think it's £40k/£50k for company pension and salary for personal upto £40k??

Current earnings <£50k at the moment.
 
My last payslip says I paid £1103.73 in TAX and NI in total for the month :(

Damn that tax man. But I sleep easy knowing I contribute to the UK. Unlike the OP - why don't you just leave the UK, you're a bane on our society. You will certainly be using more tax funding than you are putting in.
 
Someone shop OP to HMRC just for the sake of being a prat.

This is why i hate the UK tax system for nonsense like this.

Here come 10 other prats justifying it too...

i paid 7000 in Tax beat that ! Shame its not in £'s
 
coolsurfer said:
Sorry but I am not doing anything illegal.
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You are not, but you are paying yourself below the legal salary to get around some rules that are outdated and need fixing. People who abuse the system are bad. The system needs closing up though.
 
I think somebiody already said it but yeh im a Player hater ! lol I hate the game more though.

Good for you whatever, its just repulsively smug. I wish the UK WOULD REVIEW ITS TAX SYSTEM oops caps lock but ill leave it on :P

yeah paying yourself <minimum wage is "smart" really.. i dunno, im fake angry :P
 
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