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Energy prices - gone nuts.

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russdx1 said:
It would not surprise me if Neil dodges more tax than anyone else on this forum :D but don’t worry it’s “all legit”

Just ignore the scare mongering garbage.

Hopefully you have planning permission for your bins outside your house or that will be the next thing your accused of :D
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I could run everything though my limited company - claim a dividend and probably save more in tax than most people here earn but I choose not too so stick that in your wheelie bin and smoke it! :D
 
Neil McRae said:
I could run everything though my limited company - claim a dividend and probably save more in tax than most people here earn but I choose not too so stick that in your wheelie bin and smoke it! :D
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what ever helps you sleep at night :)
 
Rob zombie said:
FFS Neil, get off your high horse. It's a legitimate company expense which I'm currently paying out of my personal money. The costs of running a business are meant to be accounted for on the books and deducted from profits before corporation tax. It's not a tax dodge.... it's literally how a company is meant to balance the books. The government get plenty of money from me don't worry and yes I pay VAT and am VAT registered. Every time I mention company expenses you jump on it as though I'm some sort of Premier League football player hiding all my money in offshore accounts or something. I'm simply trying to work out what should legitimately go through the company instead of out of my own pocket. Most of my electricity bill is from running two big desktop PC's and 6 monitors night and day. It would be nice to be able to claim back the actual amount of money they use, but I've never claimed a penny over the years. Turns out I could as a minimum claim £312 per year towards it.

Anyway, the benefit in case it still isn't clear is that you pay corporation tax on profit and if you're not deducting the expenses of running that business then you're not going to be in business very long.
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No I jump on it because the advice you are getting that makes you believe you are saving money seems questionable to me but knock yourself out!

Neil.
 
UK Law favours corporations not individuals. FACT. This is why most accountants and tax advisors will advise you to form a company in the majority of cases where you intend to carry on some sort of business or trade, unless it is pin-money.

Tax planning is very different to tax avoidance. One is legal, the other is not.

Biggest fraud in Pinball is VAT fraud. Buy a pinball, claim the VAT back, sell the pinball at sometime in the future and do not charge VAT.
 
AlanJ said:
UK Law favours corporations not individuals. FACT. This is why most accountants and tax advisors will advise you to form a company in the majority of cases where you intend to carry on some sort of business or trade, unless it is pin-money.

Tax planning is very different to tax avoidance. One is legal, the other is not.

Biggest fraud in Pinball is VAT fraud. Buy a pinball, claim the VAT back, sell the pinball at sometime in the future and do not charge VAT.
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Tax avoidance is 100% legal, tax evasion is illegal, the former is considered an ethical concern.
 
Wouldn’t it be ironic if a certain person on here had been bringing reasonably high value items into the UK in his checked in luggage then NOT declaring it to UK customs! Wouldn’t it be even more ironic if he was then asking openly on a thread if anyone else wanted items bringing in to avoid VAT/duty payments. Makes you wonder could he possibly of brought any other undeclared items into the UK, maybe a watch, maybe Buzz Aldrin’s flight jacket 😂 obviously all maybes!

I’m sure he’ll be along here to add his laughing emoji to the bottom of the post, and yes he would be correct its hilarious!

I’m also very pleased he’s not my accountant, he’s quite clearly misguided in many areas.

Oh, back on thread, wholesale price of gas in Europe has increased again!

Peace and love everyone!
 
Looks like I won't be able to put the broadband into my company name until the contract comes up for renewal in 2 years time. Wish I'd known this a month ago. Urgh. 56F8BDA2-7562-4E8F-B924-48879D28F6E0.jpeg
 
Rob zombie said:
Looks like I won't be able to put the broadband into my company name until the contract comes up for renewal in 2 years time. Wish I'd known this a month ago. Urgh. View attachment 176747
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Yeah you cant just claim personal internet on the company, it needs to be in the company name, and most isp's wont let you just rename it, you need to cancel / create a brand new one (and in some cases have to go down special business broadband route, depending who you go with)
 
kevlar said:
Did anything ever come of the points system that was being brought in on the forum for mis-behaving? is there a leaderboard somewhere? just wondering....
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The issue with the point system is who gets them in this situation, @Rob zombie for an off topic comment or the righteous comments by @Neil McRae? Or everyone else who then jumped in rather than ignored both of them derailing the thread.
I found it hard to identify a victim so I kept the points for myself.
 
taz turbo said:
Wouldn’t it be ironic if a certain person on here had been bringing reasonably high value items into the UK in his checked in luggage then NOT declaring it to UK customs! Wouldn’t it be even more ironic if he was then asking openly on a thread if anyone else wanted items bringing in to avoid VAT/duty payments. Makes you wonder could he possibly of brought any other undeclared items into the UK, maybe a watch, maybe Buzz Aldrin’s flight jacket 😂 obviously all maybes!

I’m sure he’ll be along here to add his laughing emoji to the bottom of the post, and yes he would be correct its hilarious!

I’m also very pleased he’s not my accountant, he’s quite clearly misguided in many areas.

Oh, back on thread, wholesale price of gas in Europe has increased again!

Peace and love everyone!
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Wouldn't it be ironic if a certain person was too much of a chicken **** to state what he thinks and was so much of a chicken **** and so wrong about all that he wrote that he wouldn't actually post someone's name. I'm also pleased I'm not your accountant I couldn't stand the stench.

and I have a jacket given to me by Gene Cernan.

Neil.
 
AlanJ said:
UK Law favours corporations not individuals. FACT. This is why most accountants and tax advisors will advise you to form a company in the majority of cases where you intend to carry on some sort of business or trade, unless it is pin-money.

Tax planning is very different to tax avoidance. One is legal, the other is not.

Biggest fraud in Pinball is VAT fraud. Buy a pinball, claim the VAT back, sell the pinball at sometime in the future and do not charge VAT.
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Sorry Alan but I +totally+ disagree. UK Law favours those with money or good legal advice (with money) and people who don't know the law or fear companies who think they are acting legally when they are not.

This year I took a kitchen company to court because we had a bunch of doors have the veneer de-bond from the door. They claimed some BS about an ombudsman which I ignored because they claimed that was the law when it was not. I took them to court and won both the cost of my kitchen, replacement doors and legal costs.

Biggest fraud in pinball was Star Wars :D

Neil.
 
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