How everyone could get £150 vouchers to spend on the High Street

[captainb]

Just now, wighty said:

I thought your post was sarcastic and having a go at contractors. Think that was wrong interpretation.

I've goning through the same contract route as you but now see contracting getting less and less worthwhile. Being screwed by IR35 looks like the end for me. So now looking to do something different (dont know what yet) but not going into full time employment. Let them outsource offshore. See how the full timers like that!.

In its heyday (some years ago before offshoring) permanent employees pay would never have gone up so much if it wasnt for the "obscene" contract rates. 

The contractors I knew never expected anything  nor wanted anything for free. Just backed their own ability. There was no better feeling than giving 2 fingers to a shyt contract extension offer.

Exactly. I've no problem with them seeking highest bidder and moving regularly, it explains the "obscene" day rate. In terms of Ir35 not sure of your skill set but lots I know and have used have gone into project implementation as defined in the contract such as "oracle upgrade" even banks who have blanket bans allow those. Days of 2 years at barclays are gone with ir35. 

Just have an issue including dividends in state support.. Its an allocation through taxation from those who pay in full to those that choose to pay divis. Also my bank share divis were cut this year, does Mrs Miggins aka the taxpayer cover those? 

Think my annoyance at the suggestion comes from having done it myself I know exactly why you do the 9k salary and the rest as divis. 

[wighty]

4 minutes ago, captainb said:

Exactly. I've no problem with them seeking highest bidder and moving regularly, it explains the "obscene" day rate. In terms of Ir35 not sure of your skill set but lots I know and have used have gone into project implementation as defined in the contract such as "oracle upgrade" even banks who have blanket bans allow those. Days of 2 years at barclays are gone with ir35. 

Just have an issue including dividends in state support.. Its an allocation through taxation from those who pay in full to those that choose to pay divis. Also my bank share divis were cut this year, does Mrs Miggins aka the taxpayer cover those? 

Think my annoyance at the suggestion comes from having done it myself I know exactly why you do the 9k salary and the rest as divis. 

I've made my money, have no debts and in a postion to think "is it really worth it - do I need the hassle".

Maybe I'll start a BTL portfolio, lol.

[scottbeard]

38 minutes ago, Riedquat said:

That's what is happening. Doesn't mean it's what should be happening. Not all change is good, even if it has immediate superficial appeal.

Like all change, some people will like it, some people will hate it.  

But trying to stop it is like King Canute stopping the tide - it's pointless.  You might just as well campaign to turn the internet off and just pretend it's not there.  It's there, so people will use it for shopping.

Campaigning to "save the High Street" will have as much effect as campaigning to stop the Blacksmiths closing would have done in the 1920s.  The age of the horse is over.

[captainb]

1 minute ago, wighty said:

I've made my money, have no debts and in a postion to think "is it really worth it - do I need the hassle".

Maybe I'll start a BTL portfolio, lol.

Actually if you still have the cash in the company shell it's what's lots do! 

Not for me though

[wighty]

6 minutes ago, captainb said:

Actually if you still have the cash in the company shell it's what's lots do! 

Not for me though

Most of mine has gone into SIPP and ISA and done very well.

Thinking I'll drop out all together if I can decide what to - surprising how little you need when you dont have dependants, work or have debts. 

Thinking  IOW for April - October and cheap Turkey apt. for winter. Probably get get bored though.

Edited February 26, 2021 by wighty

[steve99]

Can we spend it on council tax? 

[winkie]

Too little too late......already thousands of small family long standing valued businesses have been priced out, through high rent increases and business rates, congestion charges and parking charges, greed priced them out.......those days are over.......what goes around comes around.....

[longgone]

down the jewellers to buy half a sovereign. 

no doubt there will be some scam available on these vouchers.  

[Odysseus]

Who sells gold on the high st?

[shlomo]

1 hour ago, Odysseus said:

Who sells gold on the high st?

Prawn brokers

[nightowl]

7 hours ago, TheCountOfNowhere said:

Why are the media not screaming STOP at the loonies in power ?

Because they are having their own internal industry crisis so havent noticed😕

Personally I think it's a gimmick and they should focus on getting the economy reopened for business and get people off furlough etc.

[TheCountOfNowhere]

35 minutes ago, nightowl said:

Because they are having their own internal industry crisis so havent noticed😕

Personally I think it's a gimmick and they should focus on getting the economy reopened for business and get people off furlough etc.

Yeah to be fair your not wrong.  Most of the decent journalists are long gone and the ones that are left are so worried about their jobs they wont speak out.  The newspapers will be gone by 2030, no great lost to society in their present form.

[Buzzardo2]

18 hours ago, captainb said:

Don't be silly. 

I think it should be all given to people who have spent the last decade paying themselves via dividends rather than salary to avoid tax. 

As they paid a lower rate of taxation for decades and avoided paying national insurance if you belive the press and labour its an outrage that they haven't been treated the same as those who have paid PAYE in full .. Even though the salary they choose to pay themselves is covered 

Expect the "excluded" to feature heavily in the budget 

I normally like your posts elsewhere; balanced, considered and generally reasonably well-informed.

 

And then you come out with total ignorant claptrap like this. Do you have ANY idea of the financial mechanics of running a limited company, and what the REAL differences are in terms of taxation / take home income are for a company director?

 

No, I thought not. Please do your research, and find some facts, before flailing around like this or you make yourself look very silly. Either that, or it leads to a suspicion that a former lover / partner / spouse might have left you for a "company director," you're still hurting, and your emotions are overcoming your normal logic!!

[nome]

18 hours ago, Save me from the madness! said:

Can I be controversial and suggest these vouchers should only be given to people who have not received furlough payments, self employment support or whatever its called etc. 

 

I'm very much opposed to yet more printed helicopter money to further prop up our wonderful Potemkin economy, but I agree with you, if they are going to do this it should only go to those who have worked continuously throughout this whole thing.

The furlough piss takers and scummy mummy UC claimants have already had more than their fare share of easy living whilst being showered with free money for the last 12 months.

[captainb]

1 hour ago, Buzzardo2 said:

I normally like your posts elsewhere; balanced, considered and generally reasonably well-informed.

 

And then you come out with total ignorant claptrap like this. Do you have ANY idea of the financial mechanics of running a limited company, and what the REAL differences are in terms of taxation / take home income are for a company director?

 

No, I thought not. Please do your research, and find some facts, before flailing around like this or you make yourself look very silly. Either that, or it leads to a suspicion that a former lover / partner / spouse might have left you for a "company director," you're still hurting, and your emotions are overcoming your normal logic!!

Hahaha! Nobody has left me for a company director that I am aware of.... Although don't follow ex for obvious reasons. Got me thinking about that one from uni now... Always in the posh bar... 

Apologies if you thought that went to far. I am however well aware of the mechanics of taxation for directors having been one myself on a personal service company. Due to ir35 it just sits there now.. 

I accept bring a director of barclays bank plc is different than director of your name Ltd but frankly the directors of barclays Bank plc are not remunerated through dividends no matter how many shares they own. 

Taking 9k salary plus divi accounting for the Corp tax is significantly more efficient than just taking out salary plus bonus. Once you take into account ee and er NI. 

Edited February 26, 2021 by captainb

[winkie]

22 hours ago, Riedquat said:

Drat, bought most of the seeds I plan on sowing last weekend.

What are you growing?

[Trampa501]

This does seem a strange story, but given EOTHO may be given another outing, there may be something behind it. Govt ministers flying a kite?

Fairly sure that if this does see the light of day, it will be geared towards the big corporate chains, the Zaras, the Marks+Spencers and the Primarks.  Be interesting to see if the corner indie can participate? And of course the govt would do this for a reason. They don't want city centre rents/property prices to collapse. They want retail businesses to keep paying business rates and corporation tax. And, most of all, they need the Vat receipts and the tax/insurance paid by the worker drones.

I wouldn't have said this before, but I'm now half expecting the govt to come up with an internet sales tax of some kind. Too tempting a target.

[MARTINX9]

On 26/02/2021 at 01:19, anonguest said:

Can you use it to help pay for a passport renewal to get out of this increasingly lunatic run country?

You can have your £150 to spend in Argos but they won’t let you leave until at least 12 April - maybe longer!

Surprising they don’t just give renters a £5000 voucher which they can only use to buy a flat or house?

[sta100]

On 2/26/2021 at 11:03 AM, captainb said:

You mean sacrificed those rights for higher gross pay and flexibility? 

I have no problem with contractors. I've done it myself through a Ltd company but came stuck through Ir35 then went employee, then did something different as frankly being an employee want great.

When doing monthly invoicing from my name Ltd to them I got the gig. I charged a decent day rate grossed up to cover holiday and employers NI, covered my expenses, paid myself 9k salary and the partner and then took the rest as a divi. No sick pay etc but that's the nature of the game. Net benefit to me was far higher than being on PAYE with no control. 

At no point would I ever consider demanding sick pay or demand holiday pay or demand something I didn't pay in for. 

Wanting all the benefits of contracting but all the "support" of someone paying full PAYE is having your cake and eating it. 

Can you then amend your original statement to people like you who used it as a vehicle to avoid tax rather than those of us who used it because we didn't know what our salaries would be while risk taking, creating something of value, and doing something else than sitting behind a desk programming and imagining that everyone else who starts a business has their limited abilities.

[captainb]

4 minutes ago, sta100 said:

Can you then amend your original statement to people like you who used it as a vehicle to avoid tax rather than those of us who used it because we didn't know what our salaries would be while risk taking, creating something of value, and doing something else than sitting behind a desk programming and imagining that everyone else who starts a business has their limited abilities.

Ah... Okay. So the choice at the end of the tax year is made to go bonus or divi purely based on? I have no problem with it. Done it myself.. Just don't pretend it's something it's not. 

The people you describe have had the salary element covered by furlough if needed, a no questions asked 50k loan with no directors guarantees whatsoever repayable, if anyone can be bothered to chase and if the company still exists over 10 years.. And yet still bombard as if they have received no support whatsoever. Your right. Peope take risks. Get rewarded. But with that risk element comes some erm risk not to be outsourced in full to everyone else. 

[sta100]

Just now, captainb said:

Ah... Okay. So the choice at the end of the tax year is made to go bonus or divi purely based on? I have no problem with it. Done it myself.. Just don't pretend it's something it's not. 

The people you describe have had the salary element covered by furlough if needed, a no questions asked 50k loan with no directors guarantees whatsoever repayable, if anyone can be bothered to chase and if the company still exists over 10 years.. And yet still bombard as if they have received no support whatsoever. Your right. Peope take risks. Get rewarded. But with that risk element comes some erm risk not to be outsourced in full to everyone else. 

Same risk as all the other businesses that have furloughed their staff, no? Why don't they just cough it up or fire their staff?

[captainb]

2 minutes ago, sta100 said:

Same risk as all the other businesses that have furloughed their staff, no? Why don't they just cough it up or fire their staff?

And they are free to furlough themselves at the salary they paid themself... Just like any other buisness. 

 

Edited February 27, 2021 by captainb

[sta100]

Just now, captainb said:

And they are free to furlough themselves at the salary they paid themself... Just like any other buisness. 

 

 I have plenty of cash reserves and resilience in my business model that means my company has kept going. Why should I bail out all these companies that distributed their cash reserves to shareholders when I haven't asked for a penny from anyone? Do you see the directors of these companies cutting their salaries to zero?

[sta100]

Why should anyone get furlough anyway? Do these people on 30k make a net contribution in tax when I'm paying more than their salary in tax? Why should I bail out all these people for not having the guts to go and start their own business?

[captainb]

1 minute ago, sta100 said:

 I have plenty of cash reserves and resilience in my business model that means my company has kept going. Why should I bail out all these companies that distributed their cash reserves to shareholders when I haven't asked for a penny from anyone? Do you see the directors of these companies cutting their salaries to zero?

Why should someone working all the way through bail out someone on furlough Fridays since March? 

Questioned will need to be answered a lot more than buisness x received y business y received x. 

Of course the madness was blanket eligibility which saw supermarkets getting billions of rate relief and brewery's getting naff all despite their customers all being shut. 

Allocating a ton of resource to cover lost divis, how about barclays traders lack of divis this year from their restricted share units? Where does the nonsense stop.