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- Thread starter hammers4spanner
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Some are saying it's 60p a week others are saying it'll cost 240 quid extra per year!
Some are saying it's 60p a week others are saying it'll cost 240 quid extra per year!
If you made 35, 000 profit, the first 10,000 is free. But it will cost 2% of 25,000- so £250.
Don't know where they are getting the 60p a week from.
The main one that affects me as a ltd co is the reduction from £5000 to £2000 tax free dividends. There's £600 lost!
Looks like being ltd is getting very close to sole trader.
Will need to add 50p an hour to cover that cost. ( works out @ 42.5p)
Don't know where they are getting the 60p a week from.
The main one that affects me as a ltd co is the reduction from £5000 to £2000 tax free dividends. There's £600 lost!
Looks like being ltd is getting very close to sole trader.
Will need to add 50p an hour to cover that cost. ( works out @ 42.5p)
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Totally agree, in same boat myself and reckon his little stunt has cost me £800 plus. So much for encouraging the small business man. Makes you feel like wrapping up the Ltd co, deregistering for vat and carrying out more cash jobs rather than trying to be above board.
Totally agree, in same boat myself and reckon his little stunt has cost me £800 plus. So much for encouraging the small business man. Makes you feel like wrapping up the Ltd co, deregistering for vat and carrying out more cash jobs rather than trying to be above board.
Its very frustrating that they seem to want to target the small businesses out there for extra revenue when its public knowledge that all big companies are avoiding tax. The big companies can afford very good lawyers who will tie up HMRC with mountains of paperwork so they go for the easy target like us.
They seem to want to bring self employed people in line with employed people for taxable contributions while not taking into account the downsides like no paid holiday, no sick pay, no pension etc
They seem to want to bring self employed people in line with employed people for taxable contributions while not taking into account the downsides like no paid holiday, no sick pay, no pension etc
Its very frustrating that they seem to want to target the small businesses out there for extra revenue when its public knowledge that all big companies are avoiding tax. The big companies can afford very good lawyers who will tie up HMRC with mountains of paperwork so they go for the easy target like us.
They seem to want to bring self employed people in line with employed people for taxable contributions while not taking into account the downsides like no paid holiday, no sick pay, no pension etc
They seem to want to bring self employed people in line with employed people for taxable contributions while not taking into account the downsides like no paid holiday, no sick pay, no pension etc
If you're self employed and not charging yourself out at a rate that would cover the cost of employing someone, you're doing something wrong.
In other words, if you employed someone, you would have to include in the hourly rate all that you mentioned above.
If you can't charge yourself out at a minimum of 30% over what an employee would cost you, up your rates or become an employee.
Why work for yourself if you can't make the same wages and benefits you would get as an employee + profit on top for your employer.
couple days work mate. put in a weekend.
onnnnnnly joking. tbh i wasn't paying attention and am not versed in the subject at hand.
nor do i plan to be. but i'm sure it's worth knowing about.
onnnnnnly joking. tbh i wasn't paying attention and am not versed in the subject at hand.
nor do i plan to be. but i'm sure it's worth knowing about.
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