Guest Tracker Posted March 11, 2011 Share Posted March 11, 2011 One of the few perks of being self employed has been the ability to legally avoid - NOT evade - income tax by various means which I managed to do right from when I first went self employed in 1991. Over the four different businesses I ran right up to the day I finally packed up in 2008 I quite legally and above board never paid a penny in income tax - magic! However I made sure I always paid my basic NI to protect my state pension - at least up to age 60 whereupon the kind tax man paid it for me because, being part time, I didn't earn enough! Not that I ever earned a fortune but it provided a very comfortable way of life for my wife - and I and our accountant who truly was a genius! The ability to not to have to deal with offensive customers is fabulous as is the ability to slap a county court summons onto deliberate non bill payers - not that there were many of either I am happy to say - as most customers were good genuine people - a fair cross section of British folk I guess! The downside could have been that I had no protection of employment other than my own ability and wit and that I had no generously funded by someone else pension schem to look forward to. Nevertheless it was a great way of life and I loved every minute of it far more than ever I did being an employee. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted March 11, 2011 Share Posted March 11, 2011 Tracker - 2011-03-11 7:25 PM One of the few perks of being self employed has been the ability to legally avoid - NOT evade - income tax by various means which I managed to do right from when I first went self employed in 1991. 8-) 8-) You obviously had a much smarter accountant than mine Rich B-) I had one like that when I first started but their bill was bigger than my tax bill 8-) Perhaps I should of perseverd :D Link to comment Share on other sites More sharing options...
Guest Tracker Posted March 11, 2011 Share Posted March 11, 2011 Oh yes indeed Dave - my accountant knew how to charge - but all the while I was paying no tax and he was dealing with the revenue on my behalf I was quite happy to pay him! Link to comment Share on other sites More sharing options...
Guest pelmetman Posted March 11, 2011 Share Posted March 11, 2011 Tracker - 2011-03-11 8:34 PM Oh yes indeed Dave - my accountant knew how to charge - but all the while I was paying no tax and he was dealing with the revenue on my behalf I was quite happy to pay him! I suspect thats why the IR picked on me as I didn't have a fancy accountant to scare them off *-) Mind you she did a good job once she realised they where trying to screw me 8-) still got a bill for 1k of her though *-) Must be nice to live in the public sector Knowing you wont get a letter from the Inland Revenue asking for your accounts, because that would be incest........................... screwing your own (lol) (lol) (lol) Link to comment Share on other sites More sharing options...
Big Momma Posted March 11, 2011 Share Posted March 11, 2011 Tracker - 2011-03-11 8:34 PM Must be nice to live in the public sector Knowing you wont get a letter from the Inland Revenue asking for your accounts, because that would be incest........................... screwing your own (lol) (lol) (lol) Well 'Incest' reigns supreme then, if it didn't then why did they pick on me for the last 5 years to complete self-assessment forms *-) Link to comment Share on other sites More sharing options...
Guest pelmetman Posted March 11, 2011 Share Posted March 11, 2011 Big Momma - 2011-03-11 8:53 PM Well 'Incest' reigns supreme then, if it didn't then why did they pick on me for the last 5 years to complete self-assessment forms *-) Thats NUFFINK (lol) (lol) (lol) (lol) ............You have not had a tax investigation then *-) Can you remember what the payment of £156 into your private account 5years 6months & 3 days ago?......................No.......well thats undeclared tax then matey ;-) and so they go on and on and on and on and on and on and on and on and on and on and on and on and on etc etc etc until after 18 months you dont know whether your coming or going >:-) then wack you with a tax bill and I suspect many people pay up scared witless by their tactics >:-( Yes I have a chip on my shoulder *-) but its cost them a lot more (lol) (lol) The best bit is Sue starts drawing her Civil service pension next year from working for Inland Revenue (lol) (lol) (lol).......I hasten to add as a typist :D Link to comment Share on other sites More sharing options...
Guest Tracker Posted March 12, 2011 Share Posted March 12, 2011 pelmetman - 2011-03-11 9:10 PM Can you remember what the payment of £156 into your private account 5years 6months & 3 days ago?......................No.......well thats undeclared tax then matey ;-) and so they go on and on and on and on and on and on and on and on and on and on and on and on and on etc etc etc until after 18 months you dont know whether your coming or going >:-) then wack you with a tax bill and I suspect many people pay up scared witless by their tactics :D Which is exactly what my accountant told me in 1991! So I've kept very detailed accounts of all monies in and out ever since and even bought my first computer in 1992 just for that job too because nobody can read my writing - not even me! As the accountant also said - after so many years who knows what a payment related to but as long as you can show a reasonable explanation and preferably a bit of paper to support it then you are more than likely OK because they can't prove otherwise! I had a VAT investigation once because I had switched accounts programmes and set up some of the categories incorrectly but the guy was great - he came along looked at the computer with me and said I can see what you have done wrong - put it right and pay any balance and we will forget it - so I did and it cost me nearly a hundred quid of what turned out to their money anyway! I must have an honest face - or something! Nil carborundum illigitemi! Link to comment Share on other sites More sharing options...
Big Momma Posted March 12, 2011 Share Posted March 12, 2011 pelmetman - 2011-03-11 9:10 PM The best bit is Sue starts drawing her Civil service pension next year from working for Inland Revenue (lol) (lol) (lol).......I hasten to add as a typist :D So because she is a 'typist' that makes everything else you have said about Public Sector workers not applicable to her :D The word 'hypocrite' springs to mind *-) Link to comment Share on other sites More sharing options...
Big Momma Posted March 12, 2011 Share Posted March 12, 2011 Big Momma - 2011-03-12 3:42 PM pelmetman - 2011-03-11 9:10 PM The best bit is Sue starts drawing her Civil service pension next year from working for Inland Revenue (lol) (lol) (lol).......I hasten to add as a typist :D So because she is a 'typist' that makes everything else you have said about Public Sector workers not applicable to her :D The word 'hypocrite' springs to mind *-) Ooops very, very sorry pelmetman. Just re-read that and it came across a lot harsher than I had intended. Was meant to be more 'tongue in cheek', apologies again, no malicious intent intended :-S Link to comment Share on other sites More sharing options...
Guest pelmetman Posted March 12, 2011 Share Posted March 12, 2011 Big Momma - 2011-03-12 3:42 PM So because she is a 'typist' that makes everything else you have said about Public Sector workers not applicable to her :D The word 'hypocrite' springs to mind *-) It's worse than that in 7 years time I get my Navy pension at 60 (lol) (lol) As for being hypocritical :-S .......I dont think so, as I have had the advantage of being on both sides of the fence, and even back in 84 when I left there was a certain level of waste, but now after over a decade of Labour tax and spend the country is nearly bankrupt *-) A friend of ours recently left the Navy as a fleet Cheif Petty Officer (Warrant Officer) and has a very nice pension which he can draw straight away :D Now after being head hunted by a military supply company he is in the private sector................and admits he's never had to work so hard (lol) Link to comment Share on other sites More sharing options...
Big Momma Posted March 12, 2011 Share Posted March 12, 2011 pelmetman - 2011-03-12 5:49 PM It's worse than that in 7 years time I get my Navy pension at 60 (lol) (lol) (lol) I started receiving my military pension after serving 22 years in October 2002, nearly 9 years ago and i am still under 55yrs old. Get a big pension rise this year on my 55th Birthday even with the freeze :D :D :D Link to comment Share on other sites More sharing options...
Guest pelmetman Posted March 12, 2011 Share Posted March 12, 2011 Big Momma - 2011-03-12 6:33 PM I started receiving my military pension after serving 22 years in October 2002, nearly 9 years ago and i am still under 55yrs old. Get a big pension rise this year on my 55th Birthday even with the freeze :D :D :D I only managed 10 years :D............. I started to become a bit of a rebel so thought I'd better leave before they chucked me out (lol) (lol) So which mob were you in BM? The Senior Service like me, the Riff RAF..........................or a Pongo (lol) (lol) Link to comment Share on other sites More sharing options...
Big Momma Posted March 13, 2011 Share Posted March 13, 2011 pelmetman - 2011-03-12 6:38 PM Big Momma - 2011-03-12 6:33 PM I started receiving my military pension after serving 22 years in October 2002, nearly 9 years ago and i am still under 55yrs old. Get a big pension rise this year on my 55th Birthday even with the freeze :D :D :D I only managed 10 years :D............. I started to become a bit of a rebel so thought I'd better leave before they chucked me out (lol) (lol) So which mob were you in BM? The Senior Service like me, the Riff RAF..........................or a Pongo (lol) (lol) What you would have referred to as "Crab Fat" :D :D Link to comment Share on other sites More sharing options...
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