Born Hunter 17,910 Posted March 4, 2021 Report Share Posted March 4, 2021 6 minutes ago, Greb147 said: It also affects small businesses as well, in fact you can be the sole person in a limited company. I've got to be honest, my heart bleeds..... I'm sure non of them have been rinsing what they can off the state for the last 12 months while working full time.... LOL Quote Link to post Share on other sites
Born Hunter 17,910 Posted March 4, 2021 Report Share Posted March 4, 2021 Just now, chartpolski said: I knew it affected limited companies, but if you are a "one man limited company" is there a threshold to be reached before paying the top rate ? Or are you still on PAYE ? If it adversely affects one man type operations, it can't be good. Ive never been self employed, so don't know the mechanics of it . Cheers. I think I read 50k So it won't hit the little guy I don't think. Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 (edited) 3 minutes ago, Born Hunter said: I've got to be honest, my heart bleeds..... I'm sure non of them have been rinsing what they can off the state for the last 12 months while working full time.... LOL Oh it's been a tax fiddle alright for most of these individuals. You have accountants who are on the board who are directors of said companies and such, clearly all false and a fiddle. But on the other hand you have legitimate small businesses who do things by the book who are going to be hurt by it. Edited March 4, 2021 by Greb147 2 Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 4 minutes ago, Born Hunter said: I've got to be honest, my heart bleeds..... I'm sure non of them have been rinsing what they can off the state for the last 12 months while working full time.... LOL Many have and imagine most will have, I do feel sorry though for those that have genuinely been out of work and needed assistance. 1 Quote Link to post Share on other sites
Born Hunter 17,910 Posted March 4, 2021 Report Share Posted March 4, 2021 Just now, Greb147 said: Oh it's been a tax fiddle alright for most of these individuals. You have accountants who are on the board who are directors of said companies and such. But on the other hand you have legitimate small businesses who do things by the book who are going to be hurt by it. I think everyone has been at it, from one man bands up tbh. I don't blame them, you take what you can. No one wants to applaud the likes of Tesco though who voluntarily said they'd pay all their half a billion iirc in tax relief back because they did so well. We've got a bit of a backward attitude in this country where anything big is inherently evil and anything small is inherently good, no matter their actions. 1 Quote Link to post Share on other sites
Born Hunter 17,910 Posted March 4, 2021 Report Share Posted March 4, 2021 1 minute ago, Greb147 said: Many have and imagine most will have, I do feel sorry though for those that have genuinely been out of work and needed assistance. I feel sorry for those who lost their jobs because their company didn't entertain furlough. Like many of my colleagues. Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 1 minute ago, Born Hunter said: I feel sorry for those who lost their jobs because their company didn't entertain furlough. Like many of my colleagues. And what about those cnuts that claimed furlough but didn't pay it out! 1 Quote Link to post Share on other sites
chartpolski 28,007 Posted March 4, 2021 Author Report Share Posted March 4, 2021 9 minutes ago, Born Hunter said: I'd say it would indirectly. Same as any business. If we impede their business and profitability then that will ripple through the economy. Specific examples might not be worth worrying about but my point really is that the corporation tax increase is a sweeping increase, not just notorious tax avoiders. When a companies profitability drops their investment potential drops which impacts jobs, remuneration, R&D etc. The more 'removed' a tax is from the individual citizen the harder it is for the citizen to see it's impact on them. Everyone wants 'big business' to pay for everything because they think it makes them immune from the economic/fiscal consequences. We all applaud because "f**k FB!", meanwhile John who lives up the street and runs a successful landscaping business now can't afford to take on two apprentices this year and will buy a cheaper model of lease truck for the firms fleet. It sounds trivial but the impact is real and multiplied a million fold. Ultimately it might be the right strategy to stimulate the economy to everyone's benefit. Time will tell. I'm just sceptical that they are playing to the masses rather than doing what is best. Very simply, time will tell. On the macro level, yes, I agree; chaos theory, when a butterfly flaps its wings, etc, etc. But on the micro level, and my circumstances in particular, and not wanting to sound selfish, it won't make a damn bit of difference to my relatively frugal existence ! Cheers. Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 Up the PAYE! Quote Link to post Share on other sites
Born Hunter 17,910 Posted March 4, 2021 Report Share Posted March 4, 2021 Who's got a pension? Do we not think that dropping the investment potential of corporations will hit your pension? There's millions of examples like that that will playout all over the economy. We all end up paying for it one way or another. The only difference Sunak's budgets make is how much and how long... Quote Link to post Share on other sites
tatsblisters 10,963 Posted March 4, 2021 Report Share Posted March 4, 2021 Can't believe the Tories are not hammering the poor tbh goes to show how they need the redwall seats they gained in the last election and all this spending to help ordinary working class folk will guarantee Boris a second term. Quote Link to post Share on other sites
king 12,030 Posted March 4, 2021 Report Share Posted March 4, 2021 Just read this...for those who have taken the piss with furlough payments.. Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 Just now, king said: Just read this...for those who have taken the piss with furlough payments.. They say that year in year out mate. Quote Link to post Share on other sites
king 12,030 Posted March 4, 2021 Report Share Posted March 4, 2021 11 minutes ago, Greb147 said: They say that year in year out mate. I agree.but the last year people have been applying for the furlough payments and still working flat out..the tax man can be relentless in his pursuit if he smells blood Quote Link to post Share on other sites
Greb147 6,810 Posted March 4, 2021 Report Share Posted March 4, 2021 4 minutes ago, king said: I agree.but the last year people have been applying for the furlough payments and still working flat out..the tax man can be relentless in his pursuit if he smells blood Most have fiddled it for decades, they know what to do. The government's guidelines were open to interpretation. If your business was affected by the virus then you could claim, they never stated what affected exactly entailed. Quote Link to post Share on other sites
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