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AT82
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#121
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#121
(Original post by JSM)
but your parents were also lucky as as you admitted the government helped them to pay in order to keep it . . .
But my parents had already had the house 17 years before that happened. It wasn't the government that helped, it was the fact my dad got his pension (which he paid for) released early that was the reason he kept it. My dad wasn't entitled to the dole but if he was it would have helped hugely and would have stoped my parents getting into huge debt which has decreased their consumer spending power.

I just think you need to compromise your ideas a bit, I agree with you that a lot of money is being wasted on things like the dole, EMA but at the same time some people would really benifet from these things. Its the child care Level 1 students who get £40 a week EMA to study some useless subject that should not be entitled to it. Not the poor A level students who getting A's. EMA is marketed completly wrong though and I hate the principles of EMA a loan or bursery would work much better.

Similary what do you think about the dole being like a loan? you pay it back when you get a job? (like top up fees). If you don't get a job within two years you get the dole loan stopped. What do you think of this?
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JSM
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#122
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#122
(Original post by Joey_Johns)
Your dad is obviously not my dads accountant. My Dad didnt pay a penny of income tax last year and our company has a 7 figure turnover.
absolute *******s, even murdoch can not manage to evade all income tax here and he is a foreign national. IF he is self employed he gets special tax breaks and turnover is not as important as profits or his actual salary
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JSM
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#123
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#123
(Original post by amazingtrade)
But my parents had already had the house 17 years before that happened. It wasn't the government that helped, it was the fact my dad got his pension (which he paid for) released early that was the reason he kept it. My dad wasn't entitled to the dole but if he was it would have helped hugely and would have stoped my parents getting into huge debt which has decreased their consumer spending power. I just think you need to compromise your ideas a bit, I agree with you that a lot of money is being wasted on things like the dole, EMA but at the same time some people would really benifet from these things. Its the child care Level 1 students who get £40 a week EMA to study some useless subject that should not be entitled to it. Not the poor A level students who getting A's. EMA is marketed completly wrong though and I hate the principles of EMA a loan or bursery would work much better. Similary what do you think about the dole being like a loan? you pay it back when you get a job? (like top up fees). If you don't get a job within two years you get the dole loan stopped. What do you think of this?

although i would still disagree with the dole in principle that is a smart compromise, i liked the original dole - 35p a week for a maximum of fifteen weeks. Hehe, i will have to pay for my gov pension anyway but i dont get it if i go private, which lets face it i will have to as the gov one is ridiculous. Same with education and health services.
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Juwel
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#124
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#124
Maybe because he isn't employed that he doesn't pay income tax. But he has to pay corporation tax don't he?
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Joey_Johns
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#125
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#125
(Original post by JSM)
absolute *******s, even murdoch can not manage to evade all income tax here and he is a foreign national. IF he is self employed he gets special tax breaks and turnover is not as important as profits or his actual salary
Lol. In effect my dad did pay tax. But the government also gave him a cheque back at the end of the year which was actually bigger than the amount he paid. It isnt *******s its fact. It was due to a government incentive for our industry over the past two years.

He will have to pay tax this year because the loop hole has now been closed. Er, I know what turnover is thankyou.
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AT82
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#126
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#126
(Original post by ZJuwelH)
Maybe because he isn't employed that he doesn't pay income tax. But he has to pay corporation tax don't he?
There is a new law coming out next year to try and cut down on this. I think corporate tax is going to be raised to level of income tax. This is to stop people setting them selves up as limited companies to avoid having to pay as much.
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JSM
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#127
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#127
(Original post by Joey_Johns)
Lol. In effect my dad did pay tax. But the government also gave him a cheque back at the end of the year which was actually bigger than the amount he paid. It isnt *******s its fact. It was due to a government incentive for our industry over the past two years.

He will have to pay tax this year because the loop hole has now been closed. Er, I know what turnover is thankyou.
exactly, special tax breaks
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LH
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#128
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#128
(Original post by Joey_Johns)
Lol. In effect my dad did pay tax. But the government also gave him a cheque back at the end of the year which was actually bigger than the amount he paid. It isnt *******s its fact. It was due to a government incentive for our industry over the past two years.

He will have to pay tax this year because the loop hole has now been closed. Er, I know what turnover is thankyou.
What industry is it?
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Juwel
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#129
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#129
(Original post by amazingtrade)
There is a new law coming out next year to try and cut down on this. I think corporate tax is going to be raised to level of income tax. This is to stop people setting them selves up as limited companies to avoid having to pay as much.
Even then the accounts can be doctored so that profits look lower and therefore less is paid in tax.
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Joey_Johns
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#130
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#130
(Original post by JSM)
exactly, special tax breaks
Say what? Absolute bollcocks? lol.

There is another tax break my dad has now invested in, which will pay back a huge sum of cash this year as well. Like I said if you know where to put your money, you can pay very little tax. You just need a good, top class accountant who is up to date with every years governmental tax breaks. Its not rocket science.
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Joey_Johns
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#131
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#131
(Original post by Lord Huntroyde)
What industry is it?
Lol. Engineering. And no it isnt in the Clitheroe area.
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AT82
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#132
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#132
(Original post by ZJuwelH)
Even then the accounts can be doctored so that profits look lower and therefore less is paid in tax.
It depends on what type of company it is but if it was a PLC this would put off a lot of potential investors as the company will look like is performing poor. LTD companies is different because its likely the director's will know the investors.
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JSM
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#133
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#133
(Original post by Joey_Johns)
Say what? Absolute bollcocks? lol.

There is another tax break my dad has now invested in, which will pay back a huge sum of cash this year as well. Like I said if you know where to put your money, you can pay very little tax. You just need a good, top class accountant who is up to date with every years governmental tax breaks. Its not rocket science.
see, he did pay income tax, he just got tax back, so i was right and if you are a pay as you earn person it is a lot harder compared to owning your own business.
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Juwel
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#134
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#134
(Original post by amazingtrade)
It depends on what type of company it is but if it was a PLC this would put off a lot of potential investors as the company will look like is performing poor. LTD companies is different because its likely the director's will know the investors.
Yeah, a plc probably wouldn't mind the tax as their profits and share premiums are usually quite high.
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Joey_Johns
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#135
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#135
(Original post by JSM)
see, he did pay income tax, he just got tax back, so i was right and if you are a pay as you earn person it is a lot harder compared to owning your own business.
But in effect he didnt so you wernt right. Its like with me, if I want anything I charge it to the company so we get tax back at the end of the year. I do originally pay for it but dont really as we get the money back.

Correct, but it isnt hard to set up a business and get special tax breaks, you just have to know what to do. The business doesnt even have to make money to get tax breaks, thats whats so great about the government.
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JSM
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#136
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#136
(Original post by Joey_Johns)
But in effect he didnt so you wernt right. Its like with me, if I want anything I charge it to the company so we get tax back at the end of the year. I do originally pay for it but dont really as we get the money back.

Correct, but it isnt hard to set up a business and get special tax breaks, you just have to know what to do. The business doesnt even have to make money to get tax breaks, thats whats so great about the government.
in effect, he didnt but whatever he still had to pay income tax, he doesnt get away without paying it
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