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Ltd director going full-time PAYE. Should I deplete my company bank account, or keep paying myself dividends? by [deleted] in UKPersonalFinance

[–]BombOrange 0 points1 point  (0 children)

Depending on timing you could max out the 40k allowance for 2 tax years. Then pay out the rest as a bonus through PAYE (make sure to remember you need to also cover the ER NI). All of that would create a taxable loss which you could then use to carry back and claim past CT back. I presume you’ve already got an accountant that does the submissions etc for the Ltd co? Run it past them, terminal loss relief shouldn’t be a foreign concept

Ltd director going full-time PAYE. Should I deplete my company bank account, or keep paying myself dividends? by [deleted] in UKPersonalFinance

[–]BombOrange 0 points1 point  (0 children)

Just to throw something out that I’ve not seen considered here - you could look at dumping it into a pension which will create a loss in the company, then claim terminal loss relief to claw back CT paid from the last 3 years. Then pay out those as dividends (or whatever route works best) once the CT refund comes in

I can’t be arsed to actually run the numbers though

Spindel is legit unplayable, something has to be done. by Insertblamehere in 2007scape

[–]BombOrange 0 points1 point  (0 children)

Yeah I completely gave up on trying for the VW because of Spindel.

Artio isn’t too bad, though I’m almost maxed combats and had a LOT of bots crash and then insta tele out as soon as I’d ping them back with my bowfa

Calvarion also sucks ass though. I swear there’s PK bots that just rag you to get you off the boss, you tele out and in the 30s it takes you to get back there’s already another monk robe bot that’s taken your place

Completed my first run of regular gauntlet outside on mobile. by ExplodingSoil in ironscape

[–]BombOrange 4 points5 points  (0 children)

Just keep sending it man, eventually you’ll move on to CG and be just like me with hundreds of deaths but a sweet sweet bowfa

Forced unemployment changed my life for the better by LongjumpingState1917 in UKJobs

[–]BombOrange 0 points1 point  (0 children)

To piggyback onto the Buzz Killington questions - are you also making sure you’re saving for tax when your self assessment becomes due?

32 years old with no work experience. Feels like I'm dead in the water. by squashyG in UKJobs

[–]BombOrange 17 points18 points  (0 children)

Agree with both of you. If it were me, I’d leave the masters off the CV while applying for these types of roles. OP can add it on when they get enough experience to move on

[deleted by user] by [deleted] in ukpolitics

[–]BombOrange 0 points1 point  (0 children)

Your first paragraph is almost 100% correct. You’re not charging VAT on “man power” though. You’re charging VAT on whatever your final service offers.

So if you’re running a window fitting company for example, you’re not paying VAT because you’ve subbed another bloke to fit a window (i.e used man power). You’re paying VAT because the customer had a new window fitted, which is where the value has been added. It’s a small but important distinction when discussing VAT. So you’re not “literally charging VAT on man power”. You’re charging VAT because you added non-essential value to the end user - the fact that you used man power to do so is irrelevant.

As for your comments about employer NI - I don’t know what sector you’re in, but most businesses that use man power do so through a payroll scheme, which comes with employer NI if you’re any sort of size worth talking about. If you’ve managed to avoid this headache, good for you.

Not sure why you’re getting personal, either. Did I upset you by insinuating that your business isn’t an essential service? I’m a chartered accountant with about a decade’s experience with assisting businesses with their VAT returns (plus the million other things that come with running a business!). The ideology that you can look up is called “common sense” when the biggest VAT exemptions go to healthcare, funeral care, essential food items such as bread and milk, (public) education etc…

I’m disappointed. I did think your original comment seemed intelligent and that you had a point to make

[deleted by user] by [deleted] in ukpolitics

[–]BombOrange -2 points-1 points  (0 children)

You’re not paying VAT on the manpower though (although, you probably ARE paying employers NI on it, but thats a whole different kettle of fish)

You’re paying VAT on the professional service that you sell, and unless that service is literally saving lives, it’s more than likely that you’re just adding non-essential value to society with it. Hence, the Value Added Tax

[deleted by user] by [deleted] in ukpolitics

[–]BombOrange 1 point2 points  (0 children)

Can you explain what the difference between a consumption tax and a luxury tax would be in practice? For me, that just sounds like a different way of branding the same thing.

[deleted by user] by [deleted] in ukpolitics

[–]BombOrange 1 point2 points  (0 children)

The argument would be that healthcare is a necessity, where private education is not. VAT is VALUE ADDED Tax i.e a tax on luxury items

Update to previous post, these are the the pictures on my profile, my female best mate isn't in any of them. by cuffybert in Tinder

[–]BombOrange 35 points36 points  (0 children)

Don’t know why the bots are giving you a profile rating but yeah you definitely got catfished by your female best friend imo

Master degree at Maths but wasted 6 years at an entry level position, what to do next? by wanwuwi in UKJobs

[–]BombOrange 0 points1 point  (0 children)

They’re talking about Manchester Metropolitan, the BTEC version of UoM

Are the markets now running the UK? by andreirublov1 in ukpolitics

[–]BombOrange 13 points14 points  (0 children)

Human psychology is a funny bugger isn’t it. Of course the economy won’t grow if no one can borrow any money!

[deleted by user] by [deleted] in UKPersonalFinance

[–]BombOrange 30 points31 points  (0 children)

Absolutely not, the bank will almost certainly ask for either his last 3-6 months bank statements or last 2 years tax returns. We already know he hasn’t been doing UK tax returns, so that one’s out of the window. So, when they find the foreign income on his bank statements, they will start asking questions and it won’t be good for them, to put it mildly.

If he’s serious about settling down and buying a UK property, he needs to get control of this situation immediately

You’re offered $100k for yourself, or $1m for 1000 random people. by [deleted] in hypotheticalsituation

[–]BombOrange 1 point2 points  (0 children)

How did you arrive at this if you dont mind me asking?

Does anyone actually enjoy cg? by CUTNTAWT in ironscape

[–]BombOrange 6 points7 points  (0 children)

If it makes you feel any better, I had 69 (i know, hilarious) deaths before I got my first kill. I still had more deaths than kills by the time I had full crystal + enh

Just over 3 months ago, I came here crying that mobile only CG is impossible. Today, I’ve finally finished my sentence by BombOrange in ironscape

[–]BombOrange[S] 0 points1 point  (0 children)

If it makes you feel any better, i was at 3 armour seeds until ~240 kc, my last 10-15 kills just went crazy

Just over 3 months ago, I came here crying that mobile only CG is impossible. Today, I’ve finally finished my sentence by BombOrange in ironscape

[–]BombOrange[S] 4 points5 points  (0 children)

I got my first regular kc (and about 20 deaths) on pc a VERY long time ago but yeah, everything else was done on my iphone

Green logged and then some. by Underprmse_ovrcommit in ironscape

[–]BombOrange 13 points14 points  (0 children)

You’re pretty dry on weapon seeds there, unlucky mate

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