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It's not about poking into your finances or an opportunity to play Billy Big Balls, just to get some numbers.
Theres talk of extending the period another 2 weeks today. The problem is it’s just pushing it further down the road and risk another rush on cases when it’s passed.Id just like to say I voted a year or more but I would be absolutely gutted to loose that amount of savings on this.
I think we will reach a point where we will all just have to risk the virus spreading otherwise the world will stop spinning.
You can furlough yourself now owls so you can get help if neededI’m ltd so as a company director I’m entitled to nothing,so by doing the right thing and closing projects down I could have kept going on some this week but opted not to. this week I’ve earned less than nothing as I’m still paying wages (.Although I’ll reimbursed at the end of April) ive still to pay them out until then, I’ve tens of thousands currently out on half finished projects i can’t invoice for. I’ve a surplus of cash I’ve saved over the years but it’s not indefinite.
It’s only on declared income, if you take your income through dividends (as I do) you get nothing, as it income on profits.You can furlough yourself now owls so you can get help if needed
I think everyone is fine for three months but it is about survival at the moment not luxury.It's not about poking into your finances or an opportunity to play Billy Big Balls, just to get some numbers.
That’s what I said,I am ltd company, I have a dividend for myself and also pay myself a wage and my wife and mum a wage ,my accountant said I will get 80% of the wages but not the dividend
That is true but I will still get the other two wages back , obviously no profit to be made but not a great loss eitherThat’s what I said,
But your wage won’t be a lot as you’ll take the bulk as dividends otherwise there’s no point in being ltd.
You said you was getting nothing? 80% of something is better than 80% of nothingThat’s what I said,
But your wage won’t be a lot as you’ll take the bulk as dividends otherwise there’s no point in being ltd.
Technically your right,I'm sole trader,only just aswell but read everything about it,ltd company directors can claim 80% of your salary so if u pay urself £12 k a year minimum wage then your entitled to 80% of that so saying ur entitled to nothing is in accurate,also if your a buisness with a yard and pay little or no buisness rates you can claim a £10k grant
Agreed,that's where saving 12.5% of tax on paying yourself minimum wage comes into effect..once in a lifetime thing you wouldn't know as no one would,but there will be some directors out there that paid themselves £25-£30k salary so there will be laughing just shame you didntTechnically your right,
But In real terms it’s nothing to me personally I’m still paying out employer insurances, van insurances, Chas accreditation’s, accountancy bills etc the work stops but the bills coming in don’t, my fixed liabilities are a lot more than £800 a month or what ever it works out.
Money might not mean too much soon. There's social unrest in Italy at the moment. There's food shortages, and where there is food available, some are now left with no money to buy it. They've just announced 400 million worth of food-stamps are to be issued. Think that's why Trump had to pull back from quarantining New York. Would be carnage. Like Kurt Russell in Escape from New York. Got a sister there and she's scared. Say's it feels like a tipping point. Gun shops can remain open because they are considered essential. Only in America
Coronavirus: Italy becoming impatient with lockdown - and social unrest is brewing
Police descend on a supermarket after reports people have stolen food to feed themselves, as patience turns to desperation.news.sky.com
The culture here is in different groups , you have feral groups , to working class , toMoney will always be king, our culture is a lot different from Italy.what’s the alternative, bartering with cabbages like the Middle Ages....
Do you pay tax on dividends, what is the fiddle? (I mean advantage)That’s what I said,
But your wage won’t be a lot as you’ll take the bulk as dividends otherwise there’s no point in being ltd.
Technically your right,
But In real terms it’s nothing to me personally I’m still paying out employer insurances, van insurances, Chas accreditation’s, accountancy bills etc the work stops but the bills coming in don’t, my fixed liabilities are a lot more than £800 a month or what ever it works out.
I’ve tens of thousands currently out on half finished projects i can’t invoice for.
Yep I have a mate in northern Ireland same as u. It's a jokeIt’s only on declared income, if you take your income through dividends (as I do) you get nothing, as it income on profits.
Don't think you pay tax on dividends up to 2k, then it's 7.5%.Do you pay tax on dividends, what is the fiddle? (I mean advantage)
You need to brush up on your knowledge my good friend..of course you pay tax on dividends,it goes up in stages depending on how much u pay yourself etc,I think first £2I is tax free then goes up % points the more you take but tax wise your alot better off,so when s**t has hit the fan,like it has and you've only taken £12k salary,I'm afraid you've made your bedDon't think you pay tax on dividends up to 2k, then it's 7.5%.
Think whole system should be scrapped really. Just pay yourself a wage and forget all about dividends
Hang on a while there will be plenty bodies available.That stings a bit, I'm in a similar position to the point I have materials sitting on the job just waiting for bodies.
It's a fcuker but there's nothing to be done about it except pull the drawbridge up and wait it out.
Not coolHang on a while there will be plenty bodies available.
That's what he said above, more or less?You need to brush up on your knowledge my good friend..of course you pay tax on dividends,it goes up in stages depending on how much u pay yourself etc,I think first £2I is tax free then goes up % points the more you take but tax wise your alot better off,so when s**t has hit the fan,like it has and you've only taken £12k salary,I'm afraid you've made your bed
You need to brush up on your knowledge my good friend..of course you pay tax on dividends,it goes up in stages depending on how much u pay yourself etc,I think first £2I is tax free then goes up % points the more you take but tax wise your alot better off,so when s**t has hit the fan,like it has and you've only taken £12k salary,I'm afraid you've made your bed