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thewilliam
24 Dec 2012 - 4:20 PM


Quote: Unless you are a seriously high roller, your tax bill isn't significant as an individual contribution. It may be significant to you, but in the grand scheme of things... it's a token.

But when there are 20 million "little tokens" it all adds up!

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24 Dec 2012 - 4:20 PM

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tomcat
tomcat e2 Member 85742 forum poststomcat vcard United Kingdom15 Constructive Critique Points
24 Dec 2012 - 10:45 PM


Quote: Each cruise missile costs about 868,000

I am not doubting your maths for one momentSmile, but it was built by a company that pays taxes, employs people who pay taxes, uses materials supplied by a company, who pay taxes, who again employ people who pay taxes. The materials come from a raw source, who ...................need I go onWink

Last Modified By tomcat at 24 Dec 2012 - 10:46 PM
Focus_Man
Focus_Man  4481 forum posts United Kingdom631 Constructive Critique Points
25 Dec 2012 - 9:00 AM


Quote: , public sector always paid us within 30 days, the private sector and one particular large organisation regularly pays 60 days plus, if they can get away with it 90 days.

Well either you were fortunate in that regard (It is not what public sector contractors and suppliers have told me, mind you) or I was unfortunate in the private sector. Only one company tried to put me on to 90 days and I refused to do any more work for them as their business was very little and spasmodic. One other company oput me on 60 days and so I invoiced weekly, which took off 21 days. Another multi-national paid me on receipt of invoice for two reasons, firstly they valued my work and secondly because I was a small company and I guess they had a vested interest in my remaining in business. I invoiced generally on 30 days and got paid it.

I suppose what it does show is how different companies, usually buyers (purchasing managers these days) try to show their worth by screwing down suppliers, contractors and consultants. If you are good at what you do you can survice and prosper by sticking to your guns and realising your value. In the end, some businesses didn't want me to retire which is why occasionally I do a bit of consultancy. Mind you being retired and still having to complete self assessment is putting me off so I may pack up altogether this year. HMRC won't just allow me to pay a lump sum with minimal paperwork, it seems it always has to be the full whack.

lemmy
lemmy  61672 forum posts United Kingdom
25 Dec 2012 - 2:32 PM


Quote: Mind you being retired and still having to complete self assessment is putting me off so I may pack up altogether this year

Ditto me. My income is from photography and in order to claim allowances and so on on my equipment I remained on schedule D when I retired.

But since I only do self generated work I want to do now, for enjoyment rather than money, all the b****y form filling and record keeping was getting me down. So I elected to come off Schedule D and now I don't have to fill in all the forms.

Of course, I also have to pay tax at my full rate on any earnings from my photography with no allowances for cameras and so on. I accept the extra tax and send the revenue a cheque for the 'extra earnings not taxed at source'. I don't like giving them more than I have to but I've balanced my convenience against the extra tax and my convenience wins out.

I do recognise that I am very fortunate in being financially able to make such a choice, though. If times get hard, I guess I'd have to start filling in the forms again Sad

Focus_Man
Focus_Man  4481 forum posts United Kingdom631 Constructive Critique Points
26 Dec 2012 - 10:43 AM


Quote: Mind you being retired and still having to complete self assessment is putting me off so I may pack up altogether this year

Ditto me. My income is from photography and in order to claim allowances and so on on my equipment I remained on schedule D when I retired.

But since I only do self generated work I want to do now, for enjoyment rather than money, all the b****y form filling and record keeping was getting me down. So I elected to come off Schedule D and now I don't have to fill in all the forms.

Of course, I also have to pay tax at my full rate on any earnings from my photography with no allowances for cameras and so on. I accept the extra tax and send the revenue a cheque for the 'extra earnings not taxed at source'. I don't like giving them more than I have to but I've balanced my convenience against the extra tax and my convenience wins out.

I do recognise that I am very fortunate in being financially able to make such a choice, though. If times get hard, I guess I'd have to start filling in the forms again Sad

Times are not hard that's why I am considering packing in the extra work. I have always enjoyed being able to go into a plant at breakfast time for a meeting. having some nice scran and chatting to old friends before picking up a nice chunk of work. It is just that I am getting p****d off with self assessment. I do want to be able to book expenses as I have to travel a 40mile return trip for most of the work and that trip can end up being 4 such trips one one job as well as all the other items like printer cartridges, DVDs paper mobile calls etc not to mention the cost of breakfast lol. It would appear that extra work and thereby extra income tax from pensioners, is not made easy and is therefore discouraging and for a lot, where cash in hand can happen (It can't for my industrial work) it does make people consider not declaring it. Some HMRC guys are just very rude and unhelpful.

When I worked for myself full time they were no different. I once had to cancel a days work for a VAT revue. The person failed to show but nobody bothered to let me know until I telephoned to see what had happened. I was told without an apology that the person had telephoned in sick and another appointment would be made in due course. That meant another day without income. It would have been nice to let me know as soon as they knew and to perhaps say "Sorry, I know the inconvenience it causes and we will do our best to accommodate you at your convenience for our next visit." No chance.

Last Modified By Focus_Man at 26 Dec 2012 - 10:45 AM

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