Interested In Advertising? | Contact Us Here
Warning!

 

Welcome to Clean It Up; the UK`s largest cleaning forum with over 34,000 members

 

Please login or register to post and reply to topics.      

 

Forgot your password? Click here

Paul Coleman

Re: tax bill
« Reply #20 on: July 16, 2011, 08:04:24 am »
Already paid mine and have January's in the bank.
Ditto  ;)

Teacher's pets!

I'm similar to Gold, but I pay by standing order, not direct debit.  I can adjust my payments myself that way using interweb banking.

No just being prudent.

I recommend to startups that you only draw 50% of turnover and live off that. That way you always have money saved for Tax and emergencies.

That is pretty much the way I would do it but I would need to increase my turnover a fair bit for that to be possible.  Unfortunately I always seem to be chasing the pound in order to service the debt from past mistakes (in my personal life rather than business life).
What I actually do is have BACS payments into a separate account.  I did this because Santander stopped showing the references.  Those BACS payments do cover the tax and NI.  Unfortunately, I had to make a couple of draws on that money earlier in the year so it won't quite cover it this time.
I'm starting to lean towards Tosh or Gold's way of doing things but with a lower amount.  The payments wouldn't cover the full bill but would take the most difficult bit off it.  If, say, I were to BACS £100 - £150 a month to them that would make a decent dent in it.

GB Window Cleaning

  • Posts: 3262
Re: tax bill
« Reply #21 on: July 16, 2011, 09:08:01 am »
thanks winpro  ;)

Dougaldum

  • Posts: 496
Re: tax bill
« Reply #22 on: July 16, 2011, 03:29:17 pm »
i don't mind the tax i pay it's the n.i that i pay which go's straight to the goverment for they luxury in life :-\

Londoner

Re: tax bill
« Reply #23 on: July 17, 2011, 10:04:18 am »
My tax money is in the bank, I have a seperate account for it and pay the money in by standing order. The only way to be safe. Plus about £20 a week for a sickness/winter fund.

mark dew

  • Posts: 2901
Re: tax bill
« Reply #24 on: July 17, 2011, 07:23:46 pm »
i don't mind the tax i pay it's the n.i that i pay which go's straight to the goverment for they luxury in life :-\

Do we have to pay this then?

I know it's the right thing to do but it isn't a legal requirement, i don't think.
Are their any advantages to ourself in paying this?

Dougaldum

  • Posts: 496
Re: tax bill
« Reply #25 on: July 17, 2011, 07:42:44 pm »
yes you do but it depens on how much make in the year