Tax - how much of your gross do you pay?

do_ron_ron said:
The same people will be complaining about the lack of doctors, nurses, teachers etc, etc, etc...............

And cannot see that it is avoidance behaviour that is causing it.
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Omg.... They are still paying more in tax than someone earning £40k PAYE.... I don't see your point. They are still net contributors. Do the mafff
 
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do_ron_ron said:
The same people will be complaining about the lack of doctors, nurses, teachers etc, etc, etc...............

And cannot see that it is avoidance behaviour that is causing it.
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The country could run on the tax money that is already generated if less of it was pee'd up the wall on government contracts organised through the old boys club, who are funnily enough the same people who'll do nothing more than pay lip service to the tax laws that allow creative accounting because it works quite nicely for them and their chums.
 
Anyone with a decent turnover should be a Ltd company

-Keep tax low
-Isolate their personal possessions if the company fails
-Expand the list of things they can claim against, like sustenance or entertaining clients :)

I work in two PAYE jobs and also have own business, but as a VAT registered sole trader

I run as a sole trader as it's pretty much a lifestyle business income wise, so it's tax liability end of year is very small (after I have paid my wife who is a housewife PAYE to work for me, she does my admin... it also allows me to claim for her Xmas dinner / staff party once a year)

Being VAT registered sole trader allows me to buy things VAT free claimed back against my profits (so 20% off then 20% again) for all sorts of business items... coffee machine, power tools, business interwebs, business phone, home use against my rent and bills... the savings can be huge

Anyone who is surprised Op does what he does should not take it out on him, it's within the law and every Ltd company in the country runs this very way for the same reasons
 
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Lima said:
Omg.... They are still paying more in tax than someone earning £40k PAYE.... I don't see your point. They are still net contributors. Do the mafff
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No s*** Sherlock, someone earning a greater amount pays more tax. Well whoever would have thought it?
I will make it as simple as I can for you so you can understand

Less tax = fewer doctors, nurses, teachers.
 
tom_e said:
The country could run on the tax money that is already generated if less of it was pee'd up the wall on government contracts organised through the old boys club, who are funnily enough the same people who'll do nothing more than pay lip service to the tax laws that allow creative accounting because it works quite nicely for them and their chums.
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I agree with that point. It is the bottom end of society that is being hit hardest because of the above. You also forgot the list of vanity projects and the revolving door between politicians and top civil servants and the companies they were awarding contracts to.
 
Flukester said:
Anyone who is surprised Op does what he does should not take it out on him, it's within the law and every Ltd company in the country runs this very way for the same reasons
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It's been said before, just because its legal doesn't make it moral. And there is next to no likelihood of getting the law changed because it benefits those in power.
 
platypus said:
It's been said before, just because its legal doesn't make it moral. And there is next to no likelihood of getting the law changed because it benefits those in power.
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These tax laws also benefit 'legitimate' start ups/small businesses, especially when they are trying to establish themselves.
Unfortunately the rules can also be exploited, but it's not easy to allow one but not the other.
 
platypus said:
It's been said before, just because its legal doesn't make it moral. And there is next to no likelihood of getting the law changed because it benefits those in power.
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It is entirely moral, as that's how the government want Ltd company's to operate.

How does it benefit people in power ?, anyone can start a Ltd company, of course you have to have a viable business idea to make it work


So in a way, it benefits people who have the balls to go out and start a business... fair play, those businesses may grow over time and employ people PAYE, which benefits everyone
 
platypus said:
This is not the definition of morality.
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ok true, you got me there, but what is not moral about paying tax based on what the law tells you to pay

Only a idiot would pay more than was needed.... if you apply morals to tax you will end up screwing yourself

Do you pay DVLA more road tax than asked as you think roads need more repairs ?
 
coolsurfer said:

I am trying to discuss the fairness of the UK tax system. And whether it is deemed justifiable to follow what the large corporations are doing in terms of tax minimisation.

Also if its not fair, what is the fair rate of tax? Last time I checked Google pays an effective rate of 3%. Employed I would have paid 27%. Is there a midway figure that is fair when looking at what the mega corporations earning billions do? Many think not but if you have a pension invested in such companies then it would indeed be hypocritical.
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Penis Hotdog Fair. :)
 
Flukester said:
ok true, you got me there, but what is not moral about paying tax based on what the law tells you to pay

Only a idiot would pay more than was needed.... if you apply morals to tax you will end up screwing yourself

Do you pay DVLA more road tax than asked as you think roads need more repairs ?
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No because VED isn't used to finance road repairs. :p
 
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