[East coast window cleaning Services]

Under a grand 

The most my corp tax has ever been was £1300

deantaberner.............. Ever you accountant is pants or your earning a bomb

How much do you turn over P&R?

Dean

Lets say enough to pay a huge mortgage and for the wife to look after the kids at home and drive a nice motor

[Paul Coleman]

My bill was quite low last year - only about £700 in all.  That was caused by having very high capital outlays to get WFP started though.  It meant that the profit margin for first year WFP was actually a lot lower than the last year of trad.  Also, it took a year for my turnover to start feeling the benefit of WFP as I opted to have more time off rather than fill in the resulting gaps with work.  Not sure what I will be paying this January yet.  I know my income was higher but there are also other capital items that will start to kick in as well as the lower, second year of items from the previous year.  My accountant has had all the paperwork for a while and I expect we will be meeting straight after Christmas.  January 2010 is when I will really get a whopping bill as my turnover went up a lot and there will be a big payment on account differential to make up.

[Oakley Windows]

Im expecting some sort of a hefty rise this year being nearly a year WFP.

After converting from trad I had an immediate and quite dramatic rise in income due to the higher output possible with WFP. Nearly a year down the line my income is 50% higher.

I still have some capital expenditure to go through the books and Id say my reciepts are pretty hefty but Im gonna have a sizeable bill this year me thinks.

Thank God its done monthly.

Matt

[scud]

I'll tell you what my tax bill is

It's a private matter between me and the Inland Revenue.

Don't ask again!!

[eddie d]

my last bill was 9k for the yre
that was including class 4 ni.
i also pay vat on the flat rate of around 15k.
so thats 24 k in tax.
i do pay my dues .
i was better off on the ladder with nout but my ladder.
my fellow wc around here vary from paying nothing to similar amounts as me .
i hate paying all this tax ,which is wasted on dole cheats and the like.

it could be worse of coarse.

[alanwilson]

can  I ask why you are paying flat rate VAT?

[eddie d]

what do you mean why?

[William Tyndale]

my last bill was 9k for the yre
that was including class 4 ni.
i also pay vat on the flat rate of around 15k.
so thats 24 k in tax.
i do pay my dues .
i was better off on the ladder with nout but my ladder.
my fellow wc around here vary from paying nothing to similar amounts as me .
i hate paying all this tax ,which is wasted on dole cheats and the like.

it could be worse of coarse.

I dont get this, if you pay 15k in vat then your tunover must be over 150k, so how come you only pay 9k in tax?
Plus you cant count vat as YOUR tax bill as you simply collect it for Customs.

[eddie d]

i sub work out as well and have other expences.
you can say that your just collecting the vat but the reality is that -
if the customer cant claim the vat back and they are happy to pay say 115 including vat ,they would be happy paying that amount regardless.ie if i wasnt vat liable i would charge 115 anyway .

[alanwilson]

what I mean is, is there any advantage?

[William Tyndale]

Fair enough, but dont claim the 15k as your tax liability, it doesn't work that way with vat.

[eddie d]

i think it does work that way .its just another tax.
i dont see any advantage to paying vat .its just that when your turnover is above 67k you are liabke for vat

[ronnie paton]

some people just want to argue, if he turns over 150k he has wages say at least two people vehcle running costs maybe a unit stationary and office spending banking charges any loans or finance canvassing/telesales costs insurances maintence and new equipment costs employees nat ins covering holidays paying holidays and then he would take some profits has divedens.

Its a bigger picture than most think so that has to be considered before they question WHY he only pays 8k tax.

[eddie d]

thats right ronnie.
the truth is after all the exes im probably better off as a one man band .

off to bed nackered

[Dean Taberner]

do any of you low tax payers have employees?

im totally astounded by the size of my tax bill to others on here.

this is my first year with employees so I was expecting a rise but some of the tax bills quoted on here are crazy.

Dean.

[Paul Coleman]

do any of you low tax payers have employees?

im totally astounded by the size of my tax bill to others on here.

this is my first year with employees so I was expecting a rise but some of the tax bills quoted on here are crazy.

Dean.

Not sure if you classified me as a low payer but no, I don't have any employees.  Bear in mind that my first year with WFP involved a lot of high putlays with a turnover that was marginally below my last year on the ladder.  The turnover could have been higher but because there were a lot of difficult distractions in my personal life, I chose to have time off to sort things out.  This meant that by the time my capital allowances were taken into account, my profits were very low.  This was only sustained because a) the capital expenditure was made with loans that had low repayment rates and b) I increased my level of personal debt.  Of course that is not sustainable but was necessary to get me through a difficult time away from work.  I'll be paying for that for several years to come but I have no regrets.  I now need to squirrel away as much as possible for future tax bills while repaying a higher level of debt - just as the economy seems to be going belly up.  So yes, my tax bill was low but only at the expense of higher future bills.

[peter holley]

do any of you low tax payers have employees?

im totally astounded by the size of my tax bill to others on here.

this is my first year with employees so I was expecting a rise but some of the tax bills quoted on here are crazy.

Dean.

i too am astounded.... mine is over 6k, and i have been very shrewd.... i have help 1 day a week and pay him cash in hand.....

[sageorgeta]

i too am astounded.... mine is over 6k, and i have been very shrewd.... i have help 1 day a week and pay him cash in hand.....

You are treading on thin ice paying someone cash in hand.....other than being against the law the tax man also takes very keen interest in these types of subjects.Think before you post. :

[jsm]

my last bill was 9k for the yre
that was including class 4 ni.
i also pay vat on the flat rate of around 15k.
so thats 24 k in tax.
i do pay my dues .
i was better off on the ladder with nout but my ladder.
my fellow wc around here vary from paying nothing to similar amounts as me .
i hate paying all this tax ,which is wasted on dole cheats and the like.

it could be worse of coarse.

Whats even worse is a dole cheat that cleans windows ---- 

[Chameleon]

my last bill was 9k for the yre
that was including class 4 ni.
i also pay vat on the flat rate of around 15k.
so thats 24 k in tax.
i do pay my dues .
i was better off on the ladder with nout but my ladder.
my fellow wc around here vary from paying nothing to similar amounts as me .
i hate paying all this tax ,which is wasted on dole cheats and the like.

it could be worse of coarse.

my last bill was 9k for the yre
that was including class 4 ni.
i also pay vat on the flat rate of around 15k.
so thats 24 k in tax.
i do pay my dues .
i was better off on the ladder with nout but my ladder.
my fellow wc around here vary from paying nothing to similar amounts as me .
i hate paying all this tax ,which is wasted on dole cheats and the like.

it could be worse of coarse.

Whats even worse is a dole cheat that cleans windows ---- 

Just because someone doesn't pay tax, oh!, Sorry a LARGE amount of tax, doesn't make his a scrounging waste of rations!
I for one have never been on the dole!
Never claimed one lousy Cent for being unemployed!
I did a business course, maybe some of you should follow suit!
Tax? Tax, sorry LARGE amounts of tax is paid by people who don't know how to run a business... successfully!

Just ask all the (30, I believe!) Billionaires living in Britain at this time!
Do you think they pay tax, oh sorry LARGE amounts of tax?
I will make it simple for you... NO!
end of!