Fazer declared bankrupt

[The Somalian]

so dappy going into big brother I heard, also Evander Holyfield is going in also

[Guest 90210]

they need more blacks in big brother

 

seriously

 

 

 

SERIOUSLY

[RaiKkoNen]

 

 

 

 

If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

 

Since when do individuals pay corporation tax bro?

 

You pay income tax on all your general earnings, interest income and dividend income.

 

Also HMRC won't tell you how much tax is due, unless they make a determination for that amount, and that will only happen if you fail to file a return, in which case they'll make an estimate for the amount.

 

Most of the taxes paid to HMRC are self assessed, only people who aren't self assessing are employees as tax is deducted at source.

 

Stop misinforming people ffs.

 

I can only speak for myself as a contractor using a limited company, not a sole trader as I know they do things differently 

 

If you have a limited company its more tax efficient to take money out as dividends and pay corporation tax on that as apposed to taking out a salary and paying income tax on it

 

Thats what I do as this is what my accountant advised me to do. This is also what most other contractors that have their own limited companies do.

 

 

I also never said HMRC tells you how much tax is due, your accountant does obviously but if HMRC thinks what you are paying is fishy they will request an audit and nobody wants that as its costly and if your accounts aint accurate your f*cked.

 

Its also obviously bait if by the time your taxes are due you dont pay in anything which I assume Dappy and all the other bankruptees are guilty of doing in which case they get flagged 

 

relax gee, I didn't mean to get you mad

 

Not mad la, with regards to taking out dividends as remuneration, that's accurate, you'll pay tax on divs at 10% at basic rate and 32.5% on higher. But the tax you pay on those divs is still income tax. ONLY companies pay corporation tax.

 

Your accountant is ripping you off though, but I can respect his hustle.

[TF S4DK]

[Guest 90210]

fekky di fek

[Niall Ferguson]

Lol at the comments in here re property

Stick to talking about pictures of buff chicks

[seven]

Lol at the comments in here re property

Stick to talking about pictures of buff chicks

Dfghhgssdfcghfda

Funny how this guy guy thinks he's above everyone else...probably still living at mums still scratching his balls

Like me

[Sole]

the only bit real about that post was the sock tho.