[Oakley Windows]

Might be interesting

[seandyer2003]

my goodness 10, 000 + is this for sole traders??

[NWH]

Oh i get it lets say how much we earn on a forum then,it`s easy enough to work out from your Tax bill lol.

[simon123]

This is not going to happen ! Telling everyone what you payed in tax !  :

[L.J.Thorpe]

Oh i get it lets say how much we earn on a forum then,it`s easy enough to work out from your Tax bill lol.

No it’s not; I turned over a lot more than some window cleaners I know, I didn’t pay any tax, your tax figure alone can be very misleading.

much as i hate to say it he is right.....to an extent (i suppose i should qualify that statement before some clever bugger posts an equation that shows how to work out your turnover etc. based on your tax payment :)

[seandyer2003]

Oh i get it lets say how much we earn on a forum then,it`s easy enough to work out from your Tax bill lol.

No it’s not; I turned over a lot more than some window cleaners I know, I didn’t pay any tax, your tax figure alone can be very misleading.

much as i hate to say it he is right.....to an extent (i suppose i should qualify that statement before some clever bugger posts an equation that shows how to work out your turnover etc. based on your tax payment :)

there would be an easy equation to work it out, if that is actually what they earned, im sure not many are putting EVERYTHING through the books??!

[Oakley Windows]

Oh i get it lets say how much we earn on a forum then,it`s easy enough to work out from your Tax bill lol.

No it’s not; I turned over a lot more than some window cleaners I know, I didn’t pay any tax, your tax figure alone can be very misleading.

much as i hate to say it he is right.....to an extent (i suppose i should qualify that statement before some clever bugger posts an equation that shows how to work out your turnover etc. based on your tax payment :)

I agreed with him once earlier today as well Forpy.

Is it us or him 

[NWH]

It`s not difficult,take an average of someones expenses etc we all know roughly how much that can be,i wouldn`t say on here how much i paid but compared to what some have said it`s way way more.

[Oakley Windows]

It`s not difficult,take an average of someones expenses etc we all know roughly how much that can be,i wouldn`t say on here how much i paid but compared to what some have said it`s way way more.

You started paying it in the end then 

[NWH]

 ;

[Paul Coleman]

I didn't pay very much tax at all myself.  I switched to WFP and in my first year I turned over no more than my last year with trad.  I could have but there were issues in my personal life that took up lots of time.  Set against that were my largish outlays for WFP gear and the first year of capital allowances.  In fact, my bill was quite low without even factoring in the van.  My accountant said that if I factored in the van, my bill would be below zero.  As this would be wasteful, he has delayed factoring in the van until the following year (perfectly legal apparently).  I wasn't aware of this but you can delay bringing a capital item into the accounts for as long as you wish if there is an advantage to be gained from doing so.  Next bill will be larger though even with the van's first year allowance.

[Paul Coleman]

Oh i get it lets say how much we earn on a forum then,it`s easy enough to work out from your Tax bill lol.

No it’s not; I turned over a lot more than some window cleaners I know, I didn’t pay any tax, your tax figure alone can be very misleading.

That's right.  You can have very large capital outlays (these can be funded by borrowing if you don't have the readies) and this will reduce the tax bill a huge amount.  You can still retain a decent profit but only repay loan payments thereby allowing access to your monthly profits to run the business (minus the loan repayments of course).