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Pl plastering said:
Exact same,its piss poor management tbh..get penalised for having a buisness and not being a 1 man band.why cant there just pay furlough to directors and let them work aswell as there still taking tax in,majority of directors get f**k all furlough anyhow it's a drop in the ocean to what self employed are getting,we have come off furlough now but havnt any full weeks booked in as of yet and we have money coming into buisness account nxt week so we cant furlough..
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If your limited like myself, we can't complain, we've chosen to be limited for various reasons. Paying lower tax ( all legitimate)is one of those, because we take our income as dividends and pay corporation tax, and as such and by result pay less tax and ni.
 
Donzo said:
I know only 1 person that got a audit,1 man band plasterer,he got ripped to shreds by hmrc.
He got stuck in by a customer who was a cop.
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I know a couple that have been aduited, they can back tax you for years and going forward never leave you alone. I know of a roofer not a big outfit but was fiddling the vat for a few years, in the end he had to pay the vat they'd caluculated at £57,000 or 22 weeks in prison, he remortgaged and paid it up.
 
owls said:
If your limited like myself, we can't complain, we've chosen to be limited for various reasons. Paying lower tax ( all legitimate)is one of those, because we take our income as dividends and pay corporation tax, and as such and by result pay less tax and ni.
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Ye but we still pay more tax than the average joe,well I did last year if I added up my self assessment tax and corp tax combined
 
owls said:
I know a couple that have been aduited, they can back tax you for years and going forward never leave you alone. I know of a roofer not a big outfit but was fiddling the vat for a few years, in the end he had to pay the vat they'd caluculated at £57,000 or 22 weeks in prison, he remortgaged and paid it up.
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Vat mob you dont mess with.
 
Unless they give you a form with specific questions they can’t say you fiddled it.
Are you affected yes or not? That’s it!
 
Pl plastering said:
Ye but we still pay more tax than the average joe,well I did last year if I added up my self assessment tax and corp tax combined
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Self assesment, corporation tax, vat, income tax on workers paye, cis tax the list is endless, my return is over a 100 grand a year, yet I get nothing back, but that’s the way it is I guess.
 
Monkey Boy said:
Unless they give you a form with specific questions they can’t say you fiddled it.
Are you affected yes or not? That’s it!
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A lot on here don't seem to know how HMRC work if you're being looked at, and it isn't by asking you things or suggesting things. They'll look at similar businesses and say all one man band plasterers earn around this much and should pay that in tax.

Then they write to whoever is in their sights and say you owe us £XXXXX. The you have to pay an accountant to prove why you think they're wrong. If you can't prove it with bank statements and corroborating paperwork then you have to pay or they'll take it away. There's no negotiation, just a figure for you to disprove or not and it has to be done at your cost not theirs.

Also worth mentioning that the old idea of watch out for the VAT people (customs and excise) they're worse than the tax people (Inland Revenue) is long out of date. It's now HMRC Her Majesty's Revenue & Customs, they're one and the same now as they were combined in 2005. So everything you've heard/know about Customs applies equally to Inland Revenue.
 
Dansouthcoast84 said:
we did. but now builders are back when merchants opened up again its getting plaster and render on walls so builders can catch up again. but where everyone isnt where should be timing wise were not filling the weeks up. so cant furlough as need to get job done. but not bringing in the money should be.
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I know it would not be popular but could you discuss dropping wages for a month or two rather than having to lay off with the promise of making it up if and when you can?
Tough times call for tough decisions.
 
imago said:
A lot on here don't seem to know how HMRC work if you're being looked at, and it isn't by asking you things or suggesting things. They'll look at similar businesses and say all one man band plasterers earn around this much and should pay that in tax.

Then they write to whoever is in their sights and say you owe us £XXXXX. The you have to pay an accountant to prove why you think they're wrong. If you can't prove it with bank statements and corroborating paperwork then you have to pay or they'll take it away. There's no negotiation, just a figure for you to disprove or not and it has to be done at your cost not theirs.

Also worth mentioning that the old idea of watch out for the VAT people (customs and excise) they're worse than the tax people (Inland Revenue) is long out of date. It's now HMRC Her Majesty's Revenue & Customs, they're one and the same now as they were combined in 2005. So everything you've heard/know about Customs applies equally to Inland Revenue.
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How can they say you earn £x because all your neighbouring plasterers earn that. What if one works 2 days a week ?
 
windy said:
How can they say you earn £x because all your neighbouring plasterers earn that. What if one works 2 days a week ?
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That's exactly my point (and what's wrong with the system). With HMRC you are guilty until you prove otherwise. They don't have to justify their 'calculations' you have to prove they're worng and provide evidence. It costs a lot to do it as you need to have an accountant prepare the submission.

I, like a lot of people, have an insurance specifically to cover the costs of a HMRC audit and defending my position. IIRC it costs about £150:00 a year and it's recommended by my accountant even though they do everything by the book.

It doesn't matter how good your accountant is, or how straight you are with everything. If they want to take a look and make a judgement the best outcome you can hope for is that you spend thousands proving you're right.
 
Any lads who think there will have normal tax rebates coming to them the next 2 years need to take a reality check I'd imagine
 
imago said:
That's exactly my point (and what's wrong with the system). With HMRC you are guilty until you prove otherwise. They don't have to justify their 'calculations' you have to prove they're worng and provide evidence. It costs a lot to do it as you need to have an accountant prepare the submission.

I, like a lot of people, have an insurance specifically to cover the costs of a HMRC audit and defending my position. IIRC it costs about £150:00 a year and it's recommended by my accountant even though they do everything by the book.

It doesn't matter how good your accountant is, or how straight you are with everything. If they want to take a look and make a judgement the best outcome you can hope for is that you spend thousands proving you're right.
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The emphasis is on you to prove your right, rather than them to prove your right.
Keep everything above boardfor piece of mind.
 
Dansouthcoast84 said:
we did. but now builders are back when merchants opened up again its getting plaster and render on walls so builders can catch up again. but where everyone isnt where should be timing wise were not filling the weeks up. so cant furlough as need to get job done. but not bringing in the money should be.
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There's the flexible furlough scheme starting soon where you work some days and the government will pay the other days, next month i think.
 
Back to this next pay out in August...
I stopped working March 23rd. Started working again 14th May. The wedge they gave me covered all of March April and May in theory with no questions ask’d. They said if we are eligible or not and will call it again in August. “Being affected” is relative to your trade. Hairdressers shafted completely, others - no materials local or customer cancelling is a minimal affect but still an affect, longer hours for same achievement because of social distancing etc..
If HMRC are not asking questions then they can’t say ought this time round. It is not like filling in a tax return with a signed declaration at the end which becomes a legal document. Take it if you can
 
Monkey Boy said:
Back to this next pay out in August...
I stopped working March 23rd. Started working again 14th May. The wedge they gave me covered all of March April and May in theory with no questions ask’d. They said if we are eligible or not and will call it again in August. “Being affected” is relative to your trade. Hairdressers shafted completely, others - no materials local or customer cancelling is a minimal affect but still an affect, longer hours for same achievement because of social distancing etc..
If HMRC are not asking questions then they can’t say ought this time round. It is not like filling in a tax return with a signed declaration at the end which becomes a legal document. Take it if you can
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getting silly this lockdown shiite
starting to look like cletues out of the siimpsons :rayos:
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Donzo said:
I know only 1 person that got a audit,1 man band plasterer,he got ripped to shreds by hmrc.
He got stuck in by a customer who was a cop.
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I've worked for many coppers in the past and it's usually a struggle to get bank transfer , they always want or expect to pay cash lol
 
imago said:
Imago is right, they use comparision data and you have to prove why they are wrong. Usually they will finally stick you with something, just maybe a bit less than they originally suggested. My parents got hit by this. It's even easier now, the big computer just looks at a trade across the uk and sends out the bill/suggestion you may have been underpaying.
Speculating here - the less variables/materials there is, then the easier it is to compute, so single trades like painters and spreads, roofers, are easy pickings.
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Pl plastering said:
But did you put a tax return in?
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Same as Hobo, pension and investments. Yes you have to put in a tax return because you are still working. But if the pension makes up a big part of your total annual income they say it is non-trade and you get nowt for trade profit. My income therefore dropped by maybe 30% or more but my trade overhead bills haven't.
My trading insurance - 3rd party etc all due start of June, will equal roughly what I would have made, profit, on maybe 3-4 jobs that I don't have. Next year I suppose I will be posting a huge loss and carrying it forward for future years.
 
Brimstone said:
Same as Hobo, pension and investments. Yes you have to put in a tax return because you are still working. But if the pension makes up a big part of your total annual income they say it is non-trade and you get nowt for trade profit. My income therefore dropped by maybe 30% or more but my trade overhead bills haven't.
My trading insurance - 3rd party etc all due start of June, will equal roughly what I would have made, profit, on maybe 3-4 jobs that I don't have. Next year I suppose I will be posting a huge loss and carrying it forward for future years.
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So is it state pension? That's hardly f**k is it?
 
bof said:
I've worked for many coppers in the past and it's usually a struggle to get bank transfer , they always want or expect to pay cash lol
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I did a job for a guy who worked for c.i.d..anyway didnt know,quoted job through watsapp..said at end cash payment.get there and tells me his job is c.i.d..ooppsey..he was sound as tho,even offered to buy me a kfc at 10.30 am as he was getting buckets in for kids.there not all wankers
 
Pl plastering said:
I did a job for a guy who worked for c.i.d..anyway didnt know,quoted job through watsapp..said at end cash payment.get there and tells me his job is c.i.d..ooppsey..he was sound as tho,even offered to buy me a kfc at 10.30 am as he was getting buckets in for kids.there not all wankers
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They all stick together, many have trades jobs to work on days off , all doing up each others houses paying cash to each other
They always pay prompt and never quibble
One sparky turned up on a job a few years back , got a bad vibe and thought he'd recognised me from an earlier drugs bust but still nobody said anything ,, none of them fancy picking up a trowel lol
 
bof said:
They all stick together, many have trades jobs to work on days off , all doing up each others houses paying cash to each other
They always pay prompt and never quibble
One sparky turned up on a job a few years back , got a bad vibe and thought he'd recognised me from an earlier drugs bust but still nobody said anything ,, none of them fancy picking up a trowel lol
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Cant imagine c.i.d having two jobs.bet hes on £60k plus a year..paid me b4 I hot tools in van,hate asking for money wen job done,that awkward silence at end when your telling them uve finished etc and stood there thinking wheres my f**k**g money
 
Pl plastering said:
So is it state pension? That's hardly f**k is it?
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No its a company pension that I stopped working for a long time ago. I'm not complaining about that, it's a beans on toast survivable income if you don't do 'owt else with your life. But I do and I'm prepared to work for it. But here I am, stuck at home for the sake of my mrs and not getting any work calls even if I could. So I'm fckd off, 'specially with lying politico's and their puppetmasters.
 
No plaster and I couldn't even find some plumbing fittings for 2 little jobs I had lined up...can only assume they come from China. ..
 
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