Do you declare Everything?

« **on:** March 30, 2009, 12:08:03 pm »

from a different thread

Quote from: windywashers on March 30, 2009, 11:11:54 am

no i dont declair everything like 99% of people here, and 99% of business that take cash, big or small.

i earn as much as i can to give my family a good lifestyle

just wondered, do 99% of us break the law?

« **Reply #1 on:** March 30, 2009, 12:34:59 pm »

I even declare the cups of tea/coffee and chocolate biscuits i get given

« **Reply #2 on:** March 30, 2009, 01:54:22 pm »

I even note down and declare the pennies I find in the street

I see that the yes's have it then (so far)

My word, how honest you all are.....

You are not going to get many straight answers on this poll.....

Ian

« **Reply #3 on:** March 30, 2009, 02:08:21 pm »

i declare im the best window cleaner

« **Reply #4 on:** March 30, 2009, 02:40:44 pm »

I'm sure that you're working for the Inland Revenue sent out on a covert operation to infiltrate the world of the window cleaning mafia and report back to your leaders everything you find out.

Dawn raids are iminent; children's piggy banks will be seized and the whole operation will be declared a success :

.

Contact me for payment and I'll make you an offer you can't refuse

« **Reply #5 on:** March 30, 2009, 03:11:20 pm »

.......................................................................no

« **Reply #6 on:** March 30, 2009, 03:33:37 pm »

Yes...everything...have just got my first mortgage and will be transferring to another provider when this 1 is up...so need good 'working' books for the first 5 years of trading.....

After that...I'll review it all

« **Reply #7 on:** March 30, 2009, 03:44:50 pm »

I dunno bout declaring all and sundry but i definitely put down my adult channels subs as a stress reliever. Well,if they can..............so can i

« **Reply #8 on:** March 30, 2009, 04:29:05 pm »

can you get tax relief on sky adult channels ?

« **Reply #9 on:** March 30, 2009, 04:34:18 pm »

bizzarly , today we were given a box of fancy chocolate shortcake biscuits !
not sure if they are a late or slightly early xmas tip !!
they will be dunked , and ( not ) declared !

« **Reply #10 on:** March 30, 2009, 04:43:15 pm »

we have to pay tax? uh oh

« **Reply #11 on:** March 30, 2009, 04:44:37 pm »

i think i may go legit

« **Reply #12 on:** March 30, 2009, 05:04:40 pm »

Quote from: kenaltobelli on March 30, 2009, 04:44:37 pm

i think i may go legit

, I like that you used the word 'may' like your just not quite convinced if the hype and hysteria is true.

« **Reply #13 on:** March 30, 2009, 05:26:07 pm »

richywilts got a load of flak for a similar posted topic a few days back

« **Reply #14 on:** March 30, 2009, 05:28:02 pm »

foxy no you dont say whats his thread called

« **Reply #15 on:** March 30, 2009, 05:49:04 pm »

Quote from: foxy on March 30, 2009, 05:26:07 pm

richywilts got a load of flak for a similar posted topic a few days back

and its still going, did you not sense the humour with the smilly

« **Reply #16 on:** March 30, 2009, 06:09:40 pm »

I declare that I hate my wife!

(I bet you, you don't know what film that line is from?)

« **Reply #17 on:** March 30, 2009, 06:16:38 pm »

I just googled that, and do you believe there is a www.ratemywifey.com site

« **Reply #18 on:** March 30, 2009, 06:24:30 pm »

i declare that everybody who said they do dont

« **Reply #19 on:** March 30, 2009, 06:34:56 pm »

I declare everything, my business is run as honestly as humanly possible.

« **Reply #20 on:** March 30, 2009, 07:08:17 pm »

i declare im a poor window cleaner

« **Reply #21 on:** March 30, 2009, 07:11:46 pm »

Quote from: riahehttrepuR on March 30, 2009, 06:34:56 pm

I declare everything, my business is run as honestly as humanly possible.

What vehicle do you use and how do you account for your non business use private mileage?

« **Reply #22 on:** March 30, 2009, 07:14:41 pm »

Quote from: riahehttrepuR on March 30, 2009, 06:34:56 pm

I declare everything, my business is run as honestly as humanly possible.

and cash, tips, air miles, nector points??mmmmmm

one less for yes??

« **Reply #23 on:** March 30, 2009, 07:17:46 pm »

I do declare the lot, not worth doing otherwise, and I don't worry about getting caught out.
I use a van for work and a car for personal.
The Tax system allows for you to claim for allsorts (not liquorice ones) so there's no need really to fiddle. All my tools go through the books cos I do use them on the van, got my driveway done through the co cos I need it for the van.

« **Reply #24 on:** March 30, 2009, 07:21:21 pm »

Im sure the majority here agree with investing in their business to secure your future. Well my investment into my business involves running it legitimately and paying the investment of taxes!

This way I assure the future of my business and my ability to operate my firm! Plus the taxes we pay go towards schools, fire engines, roads, hospitals, all these things are an investment for my future health and prosperity, and I for one are willing for the government to have it.

I wouldn't be able to walk if it wasn't for the NHS, and if I couldn't walk, I wouldn't be able to work!

« **Reply #25 on:** March 30, 2009, 07:22:30 pm »

I declare everything. I also make sure that I put every legit expense down too - even a few pence to park while cleaning or quoting.

« **Reply #26 on:** March 30, 2009, 08:00:53 pm »

i declare there is some porkies being told

« **Reply #27 on:** March 30, 2009, 08:03:56 pm »

basically i declare everything and on the other hand i claim for everything (business wise) down to even a new bootlace then let the accountant sort it out..

« **Reply #28 on:** March 30, 2009, 08:04:45 pm »

Quote from: riahehttrepuR on March 30, 2009, 07:21:21 pm

Plus the taxes we pay go towards schools, fire engines, roads, hospitals, all these things are an investment for my future health and prosperity, and I for one are willing for the government to have it.

They also go to daft wars in Iraq, Afganistan, working out exit policies for both places; porn for MPs husbands, MPs second homes (when they live closer to Parliment than the second home they're claiming for); and lots of other naff stuff too.

« **Reply #29 on:** March 30, 2009, 08:06:39 pm »

Quote from: ladder garder on March 30, 2009, 06:16:38 pm

I just googled that, and do you believe there is a www.ratemywifey.com site

I can beat that

http://www.ratemypoo.com/today.html

Dont even think about asking

« **Reply #30 on:** March 30, 2009, 08:10:26 pm »

Quote from: windywashers on March 30, 2009, 06:24:30 pm

i declare that everybody who said they do dont

You know, I believe you before anyone else. Even those guys who employ; there's loads of 'cash in hand bonuses' to be given there.

It's easily possible to pay the minimum wage, say 30 hours a week, so they get the full wack of Tax Credits; then 'bonus them' in cash when they meet their targets.

« **Reply #31 on:** March 30, 2009, 08:10:53 pm »

I,m getting £23,000 pounds per year allowance off the taxpayers, to let my wife watch blue movies................................................Oooh very topical!

« **Reply #32 on:** March 30, 2009, 08:32:37 pm »

Quote from: ladder garder on March 30, 2009, 05:49:04 pm

Quote from: foxy on March 30, 2009, 05:26:07 pm
richywilts got a load of flak for a similar posted topic a few days back

and its still going, did you not sense the humour with the smilly

ladder garder; many of the later humorous comments were off topic and meant in a jocular manner

. most of the early replies to richywilts thread were serious and some were hostile

.

« **Reply #33 on:** March 30, 2009, 08:34:37 pm »

matt oakley i looked at that, now ive done a little sick in my mouth

« **Reply #34 on:** March 30, 2009, 08:34:48 pm »

Quote from: kenaltobelli on March 30, 2009, 05:28:02 pm

foxy no you dont say whats his thread called

Haha, nearly spat my food out

« **Reply #35 on:** March 30, 2009, 08:44:16 pm »

Quote from: sparklebright on March 30, 2009, 07:17:46 pm

I do declare the lot, not worth doing otherwise, and I don't worry about getting caught out.
I use a van for work and a car for personal.
The Tax system allows for you to claim for allsorts (not liquorice ones) so there's no need really to fiddle. All my tools go through the books cos I do use them on the van, got my driveway done through the co cos I need it for the van.

Do you claim 100% business use for your tools & drive or do you use either for any other purpose?

You may use or need them but is that use/need 100% exclusive?

« **Reply #36 on:** March 30, 2009, 08:47:39 pm »

Quote from: seandyer2003 on March 30, 2009, 08:34:48 pm

Quote from: kenaltobelli on March 30, 2009, 05:28:02 pm
foxy no you dont say whats his thread called

Haha, nearly spat my food out

there are some dry n's

« **Reply #37 on:** March 30, 2009, 09:09:00 pm »

Quote from: iwitot on March 30, 2009, 08:10:53 pm

I,m getting £23,000 pounds per year allowance off the taxpayers, to let my wife watch blue movies................................................Oooh very topical!

And he could have just clicked on redtube and got it all for free. DON'T YOU DARE.

« **Reply #38 on:** March 30, 2009, 09:09:53 pm »

Quote from: dai on March 30, 2009, 09:09:00 pm

Quote from: iwitot on March 30, 2009, 08:10:53 pm
I,m getting £23,000 pounds per year allowance off the taxpayers, to let my wife watch blue movies................................................Oooh very topical!

And he could have just clicked on redtube and got it all for free. DON'T YOU DARE.

« **Reply #39 on:** March 30, 2009, 09:30:40 pm »

If I built an extension on my house for an office, would I be able to claim tax on that?

« **Reply #40 on:** March 30, 2009, 09:58:21 pm »

Quote from: colley614 on March 30, 2009, 09:30:40 pm

If I built an extension on my house for an office, would I be able to claim tax on that?

It's not often I say this, but that's definately a case of 'get an accountant'; and there'll be stuff like capital gains to consider if you claim for building an office and sell for a profit in the future. Or maybe you die... what's the implactions then?

« **Reply #41 on:** March 30, 2009, 10:08:30 pm »

I have a very good accountant who is contactable anytime of the day/night.

The only instructions I have given him is, I do not want to pay tax, so now he makes sure that my tax liablity is as small as legally possible.

For this his fee is well worthwhile.

« **Reply #42 on:** March 30, 2009, 10:13:37 pm »

Quote from: Pure HYDRO Cleaners Ltd on March 30, 2009, 10:08:30 pm

I have a very good accountant who is contactable anytime of the day/night.

The only instructions I have given him is, I do not want to pay tax, so now he makes sure that my tax liablity is as small as legally possible.

For this his fee is well worthwhile.

I want to pay tax; I want to pay LOADS AND LOADS AND LOADS OF TAX; the more the better.

I'd love to pay £10,000,000 in tax!

Why?

Because you pay tax on your profit and the more tax you pay, the more profit you've made.

If you pay little or no tax, you've made little or no profit.

Or you've lied.

« **Reply #43 on:** March 30, 2009, 10:15:01 pm »

My tax bill is fairly average; but I do work with Wor Lass and she uses her tax allowance as well!

« **Reply #44 on:** March 30, 2009, 10:33:47 pm »

I pay tax but if my accountant can find legal ways to kept this to a minimum who am I to complain

« **Reply #45 on:** March 30, 2009, 10:40:13 pm »

Quote from: Pure HYDRO Cleaners Ltd on March 30, 2009, 10:33:47 pm

I pay tax but if my accountant can find legal ways to kept this to a minimum who am I to complain

As far as I know accountants don't have any magic wands to be able to reduce your tax bill.

Can you give me an example of how yours reduces yours?

I mean turnover minus expenses equals profit; full stop.

« **Reply #46 on:** March 30, 2009, 10:44:56 pm »

Hydro,

I see you're Ltd; I've just noticed; now I know next to nothing about Ltd companies (apart from a few general facts); so maybe in your case you could be correct with regards to an accountant.

« **Reply #47 on:** March 30, 2009, 11:14:17 pm »

Tosh

My accountant advised me to go Ltd to reduce my tax liablity, I do not know all of the loop holes but one was because i am Ltd I pay myself my yearly tax allowance (£6250) as my wage which is free from Income Tax and National Insurance, I then can also take out of the company £25000 in Tax Free Dividends.

I do have to pay corporartion tax of 21% but unlike income tax which increases from 20% to 40% when I reach £34000, the corporation tax rate 21% is upto £2000000.

I am also thinking of buying property both here and abroad which the company will own, but because I own the company I therefore own the property, but it is tax deductable.

There is also something about moving this property into a SIBS pension which is also tax favaurably.

I don't pretend to know all of the loop holes thats why I am only a window and carpet cleaner. :

« **Reply #48 on:** March 31, 2009, 05:35:21 am »

Quote from: Tosh on March 30, 2009, 10:40:13 pm

Quote from: Pure HYDRO Cleaners Ltd on March 30, 2009, 10:33:47 pm
I pay tax but if my accountant can find legal ways to kept this to a minimum who am I to complain

As far as I know accountants don't have any magic wands to be able to reduce your tax bill.

Can you give me an example of how yours reduces yours?

I mean turnover minus expenses equals profit; full stop.

One small thing that can help is to buy large capital items near the end of an accounting year. They may then be used to offset tax from the start of the accounting year that you are in (i.e. backdate 11 and a bit months). That way you start getting tax relief a year sooner than if you had waited a couple more weeks. Also, the opposite can apply. You can delay offsetting capital items as long as you wish if you wouldn't have paid much tax anyway for the year that you bought something. There is now a way of ofsetting the whole of certain items in year one as well (enterprise allowance?? or something like that) though I don't think it applies to vehicles.

Poll

Do you declare everything?