[pingu]

Living here in Holland with all it's laws and thingies...I thought that dealing with the taxman would be an absolute nightmare...


But this morning Iwent to the accountant discuss my 08/09 figure...now I had already been given 2,5k back in VAT and today they only charged me 715 for income tax....

So I'm well euro's in pocket...all this is because as a new business...you are really helped in the 1st 3 years.....

  to the taxman!!!!

Dave.

[S.A.J]

Wish my income Tax was 715 just been told to pay just under 6k 

[cozy]

What do you mean Dave? Is that 2.5k Vat quarterly? How do they give you an advantage in the first 3 years?

Here, the new tax laws are that under 17.5k a year turnover, you are not liable for VAT.

I think it's alot higher threshold in UK, lucky gits :

[S.A.J]

Now 75K here in the uk.

[pingu]

Here you get charged on every single cent for VAT..

But money I refer to is the money I put away every week to pay VAT an income tax...

But now they want the VAT money every 3 months...gits....as for advantage...they have so many % deals for small companies in the 1st years..these all added really bring down your tax liabilities....

Anything under 50k is really considered small fry here...

Dave...

[cozy]

Bloody hell, I thought it was about 50k. One less headache for you guys. If you go over 50k here you start paying corperation tax! At least Dick Turpin wore a mask

[cozy]

So 2.5K quarterly Dave? You have started too early to get any benefit from the new laws then? I think you can reduce though if you needed to.

Had a tax inspection in 2003, stormtroopers have nothing on these guys. Wanted to know how I had so many DVD's and so many vehicles even though 2 of them were caravans (old).

Took away all the books and files, 7 months later they worked out I owed them about 5 grand.

All worked out in the end, but I'm getting a rottweiler now to stand guard at the door

All that was missing were the long leather coats and john lennon specs!

[Ian Lancaster]

Now 75K here in the uk.

68K was 67K last year but because the economy stagnated Alistair Darling only allowed a token increase

Also it's on a ROLLING system - if your turnover is more than 68K in any consecutive 12 months you must register, so if you have any unusually large incomings, try to spread them over a few months.