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Do you not think it would do the opposite?wow - that would drive tax evasion up massively
Think of how many people are evading going VAT registered, by whatever means.
Discuss Self employed and finding my groove? in the Gas Engineers Forum area at PlumbersForums.net
Do you not think it would do the opposite?wow - that would drive tax evasion up massively
Do you not think it would do the opposite?
Think of how many people are evading going VAT registered, by whatever means.
There's more incentive for someone not VAT registered to do that. If your not VAT registered and you're getting your customer to pay for all the materials and just charging for labour - whilst it is legal you could argue that's a form of evasion too.many VAT reg people take cash now ***..
raising the 20% tax threshold to £50k this year is most likely to increase tax take ***
Think half of your post is missingEdited and some extra text also
you can use the kids, parents, grand parents, any number you want. The smart people do this to pay little or no tax as well. For example, a child has the same personal tax allowance as a grand parent. So 2 kids plus wife (if not working) plus parents (if not working) plus grandparents. So £12.750 x 8 so over £100k legally earned without tax having to be paid. If you don't have the people then just create numerous Ltd companies instead, keep them for 3 years then fold them for £10 each. No tax, no VAT no nothing. All perfectly legal. The system has gaping holes to enable the wealthy to avoid tax so they can't close them. They work on your training as good sheeple not to be "unfair" LOLIsn't that fraud?
so you become a retailer and have all of the consumer protection laid at your door...wow, now that is stupidGets a bit more iffy if I did it with all parts but my turnover is very roughly 50/50 parts and labour.
I could compensate for markup with labour cost or separate charge and effectively raise threshold to equivalent of £170K
Hi @hometech
I think you've missed the point on both instances there.
My plan involves avoiding VAT registration and is perfectly moral and fair (in my opinion)
Your talking about income tax avoidance and if not technically illegal it is certainly wrong (atleast to the extent your suggesting).
I'm no sheep for contributing towards the running of my country and the support of my fellow Countyman (altho I don't love the bill), I'm a strong, grown arse, responsible and decent man!
Acting as an agent actually absolves me of any responsibilities for parts as the customer has effectively purchased them themselves...?
Not true.multiple companies and or individuals names on receipts removes the vat threshold. Simple.
you can use the kids, parents, grand parents, any number you want. The smart people do this to pay little or no tax as well. For example, a child has the same personal tax allowance as a grand parent. So 2 kids plus wife (if not working) plus parents (if not working) plus grandparents. So £12.750 x 8 so over £100k legally earned without tax having to be paid. If you don't have the people then just create numerous Ltd companies instead, keep them for 3 years then fold them for £10 each. No tax, no VAT no nothing. All perfectly legal. The system has gaping holes to enable the wealthy to avoid tax so they can't close them. They work on your training as good sheeple not to be "unfair" LOL
Reply to Self employed and finding my groove? in the Gas Engineers Forum area at PlumbersForums.net
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