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'Extend and pretend' in the High street?.

So if I understand this correctly taxpayers are susidising cut price tracky bottoms?.

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'Extend and pretend' in the High street?.

So if I understand this correctly taxpayers are susidising cut price tracky bottoms?.

Made by slaves in countries we have deficits with.

Yep.

Osborne's rebalanced economy.

Edit: With a bit of luck they'll extend and pretend with Liverpool FC's finance in 2 weeks too. Then Hicks and Gillett can stay for a little while longer. :)

Edited by Frank Sidebottom

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They lose money on every sale, but they make it up on volume.

whilst a funny comment...it is the way bankers think..

whenever I am quized about my business, the boffin ALWAYS asks about Turnover.

My Wifes, place, they have upped the targets so that the bankers would be happy...have they hit them...no, but the bankers were delighted that targets were up.

I get the message....with increased turnover, you have higher cash flows, so at any one time, there is more at the bank....this means exit is more comfortable for the bank.

Less comfortable for trade creditors, customers left in the lurch, and future investment.

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This whole thing of heavily indebted companies making huge losses .. Who is funding the losses? Is RBS chucking good money after bad or are they simply not being paid some of the interest?

Erm....you are.

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'Extend and pretend' in the High street?.

So if I understand this correctly taxpayers are susidising cut price tracky bottoms?.

:angry:

Well, it looks like we can see here, an illustration of yet another great use of tax payers money.

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I get the message....with increased turnover, you have higher cash flows, so at any one time, there is more at the bank....this means exit is more comfortable for the bank.

For a small buisness your relationship with your bank depends only on turnover ..

Very low turnover and you are on the computerised banking system .. "The computer says no" type of thing ..

Higher turnover and it's the "Buisness banking "Team" in Swansea ..

Very high turnover and you have a local bank manager (like the old days ..)

I just had a huge outlay job on top of several late invoices so I "Lent" myself £6000 from the savings account then I got paid £6000 by a client so I paid it back .. then a load of nessesary purchases and bills came up and I was out of money again so I "Borrowed" it again .. then a load of invoices came in so I paid it back again ..

This morning my new local Bank Manager called .. He wants to come and see me and talk about the buisness ..

If you want the best service from your bank just Merry-go-round the money ..

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Erm....you are.

Not so much .. because I have five children .. I do pay a little bit of tax on my savings interest but due to the stupid way the tax system works it massively pays me to make a very small profit from the buisness.

This way I get vast quantities of tax credits this year and next year. Then I have one year where I don't invest in new equipment and make a huge profit .. Then sell the company to my "partner" who funds the purchase with a bank loan pay the 12% CGT .. then run the company without profit for a few more years to pay back the loan ..

Rinse and repeat .. the Tax system in this country is MENTAL .. It only benefits speculators and tax avioders .. People who work for their money get shafted at every turn ..

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Not so much .. because I have five children .. I do pay a little bit of tax on my savings interest but due to the stupid way the tax system works it massively pays me to make a very small profit from the buisness.

This way I get vast quantities of tax credits this year and next year. Then I have one year where I don't invest in new equipment and make a huge profit .. Then sell the company to my "partner" who funds the purchase with a bank loan pay the 12% CGT .. then run the company without profit for a few more years to pay back the loan ..

Rinse and repeat .. the Tax system in this country is MENTAL .. It only benefits speculators and tax avioders .. People who work for their money get shafted at every turn ..

indeed...

Its also why they are running out of liquidity again.

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Not so much .. because I have five children .. I do pay a little bit of tax on my savings interest but due to the stupid way the tax system works it massively pays me to make a very small profit from the buisness.

This way I get vast quantities of tax credits this year and next year. Then I have one year where I don't invest in new equipment and make a huge profit .. Then sell the company to my "partner" who funds the purchase with a bank loan pay the 12% CGT .. then run the company without profit for a few more years to pay back the loan ..

Rinse and repeat .. the Tax system in this country is MENTAL .. It only benefits speculators and tax avioders .. People who work for their money get shafted at every turn ..

Yap..incentive given in the tax system is totally mad. Not just UK though. Most of the developed world operate this way.

Maybe RBS 's plan is to allow them to liquidate the stock and then seize the cash and put the company into administration...

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'Extend and pretend' in the High street?.

So if I understand this correctly taxpayers are susidising cut price tracky bottoms?.

It appears you are right. I said jokingly yesterday that if people don't buy things, the government can buy things for them.

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  • 191 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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