TAX

[Bjornebye]

11 minutes ago, AngryOfTuebrook said:

It wouldn't.

 

If you sell 51 shirts for £20, a percentage from the 51st would go to the Exchequer; the first 50 are tax-free.

Fair enough but I’m just fucking sick of them. They’ve sapped all our money and many peoples will to be excited about life, all for their own greed. 

[AngryOfTuebrook]

4 minutes ago, Bjornebye said:

Fair enough but I’m just fucking sick of them. They’ve sapped all our money and many peoples will to be excited about life, all for their own greed. 

They take our money - and our services, infrastructure, etc. - so their friends and donors don't have to pay a fair rate of tax.

 

I hope every last one of the cunts loses their deposit at the next election and then has explosive diarrhoea at the count.

[littletedwest]

48 minutes ago, Bruce Spanner said:

This isn’t news.

Yep this was already the law. Its income so should be taxed.

[A Red]

1 hour ago, AngryOfTuebrook said:

"Good on her" for ripping off charity shops for profit!

She's not ripping them off, assuming they are donated items every penny is gp.

 

I spent 7k some specific building stuff, I don't need half of it and cant send it back, I'm going to try to sell what I've got left for 2k. If you were me would you declare that income for tax ?

[Clem H Fandango]

4 minutes ago, A Red said:

She's not ripping them off, assuming they are donated items every penny is gp.

 

I spent 7k some specific building stuff, I don't need half of it and cant send it back, I'm going to try to sell what I've got left for 2k. If you were me would you declare that income for tax ?

 

I certianly wouldnt hire you to be my builder if you cant get the material use right.

[A Red]

3 minutes ago, Clem H Fandango said:

 

I certianly wouldnt hire you to be my builder if you cant get the material use right.

If you hired me as a builder that would be the least of your worries

[littletedwest]

46 minutes ago, A Red said:

She's not ripping them off, assuming they are donated items every penny is gp.

 

I spent 7k some specific building stuff, I don't need half of it and cant send it back, I'm going to try to sell what I've got left for 2k. If you were me would you declare that income for tax ?

The tax is on profit not turnover. So if you sold something for 2k you paid 2k for you'd not be liable for tax

[sir roger]

I'm sure these investigations will be done in down time by the myriads of guys chasing up diligently on offshore tax evasion by millionaires and tory donors.

[A Red]

20 minutes ago, littletedwest said:

The tax is on profit not turnover. So if you sold something for 2k you paid 2k for you'd not be liable for tax

Ok, let's say I make a 1k profit, would you declare it if you were me?

 

The problem with all this is the policing costs would far outweigh the revenue. Most people, left or right wouldn't declare.

 

Far better to close loopholes and go after the offshore stuff.

[AngryOfTuebrook]

1 hour ago, A Red said:

She's not ripping them off, assuming they are donated items every penny is gp.

 

I spent 7k some specific building stuff, I don't need half of it and cant send it back, I'm going to try to sell what I've got left for 2k. If you were me would you declare that income for tax ?

She is ripping them off; she haggles the price down to maximise her profits.

 

 

 

[AngryOfTuebrook]

3 minutes ago, A Red said:

Ok, let's say I make a 1k profit, would you declare it if you were me?

 

Yes. Declare £1k profit, because that's tax free; why would you break the law for nothing?

[AngryOfTuebrook]

3 minutes ago, A Red said:

The problem with all this is the policing costs would far outweigh the revenue. Most people, left or right wouldn't declare.

 

Far better to close loopholes and go after the offshore stuff.

People who understand the reality of tax far better than anyone here can make realistic estimates of costs and benefits. My guess is that this will bring in revenue, because there's no other policy objective that it's aimed at.

 

As for closing loopholes, that's literally what this is.

[A Red]

2 minutes ago, AngryOfTuebrook said:

Yes. Declare £1k profit, because that's tax free; why would you break the law for nothing?

My bad wording, 1500, would you actually look to pay tax?

[A Red]

3 minutes ago, AngryOfTuebrook said:

People who understand the reality of tax far better than anyone here can make realistic estimates of costs and benefits. My guess is that this will bring in revenue, because there's no other policy objective that it's aimed at.

 

As for closing loopholes, that's literally what this is.

It will never be policed and the vast majority will not pay. It might bring some revenue from ultra honest people like you but not enough to make much of a difference.

[A Red]

11 minutes ago, AngryOfTuebrook said:

She is ripping them off; she haggles the price down to maximise her profits.

 

 

 

People who negotiate a price are not ripping people off.

[AngryOfTuebrook]

1 minute ago, A Red said:

People who negotiate a price are not ripping people off.

It's fucking charity shops, not Succession.  Decent people don't haggle to try to maximise their profits.

[AngryOfTuebrook]

Good to see that AirB&B is included in those OECD regulations: that's become an aggravating factor of all kinds of social and economic problems, so it's only right that the profiteers should be properly taxed.

[littletedwest]

15 minutes ago, A Red said:

Ok, let's say I make a 1k profit, would you declare it if you were me?

 

The problem with all this is the policing costs would far outweigh the revenue. Most people, left or right wouldn't declare.

 

Far better to close loopholes and go after the offshore stuff.

I'd declare based on hmrcs ability to use powers to open up investigations into earlier years. So say you make £ 2000 profit and you're a basic rate taxpayer its £ 200 quid tax. However you don't declare this. 5 years down the line you've been doing this every year. Suddenly an investigation is opened. Using discovery powers they can now open up these prior years. So you now owe tax, interest and potentially failure to register for self assessment penalties. 

But yeah I think most people would chance it to be honest

[AngryOfTuebrook]

Is anyone else still intrigued by the riches in Stronts's attic?

[tokyojoe]

It would be handy if HMRC's systems fucking worked properly. I tried to submit my company corporation tax return and I had a loss from last year. Everytime I tried to put the figures in it just kept chucking them out, with comments like box X should equal box Y etc which was utter bollocks. (I am an accountant by the way, so I do have at least a vague idea what I'm talking about). Out of frustration I just wound up putting the last years figures in just so the bloody system would accept it. Now the cunts have hit me (my company) with a tax demand of about £15k, which following generally accepted accounting procedures is utterly wrong, in fact nothing is owed.

 

On the phone to HMRC for nearly an hour before I got through to someone who did try to be helpful but I could tell he was out of his depth. So I said I'll send this years and the previous couple of years accounts in so you can check it yourselves. (You have to remember that the have all the previous years on file anyway).

 

So I asked, what's your email address. Don't have one. So I'll have to print the whole lot up and post it. 

 

On another note, the IRS in the US estimate about 50-60% of taxes collected are wasted. Probably the same here.

 

Fucking wankers. Raising taxes is not the answer but controlling government waste is the real problem.

 

If you haven't already, watch 'Yes Minister'.

[A Red]

9 hours ago, AngryOfTuebrook said:

It's fucking charity shops, not Succession.  Decent people don't haggle to try to maximise their profits.

Many charity shops get inundated with stock and need to keep things moving through which is why they will negotiate. Like you, I wouldn't try to get prices knocked down but I can see scenarios where some might. 

[Clem H Fandango]

6 minutes ago, A Red said:

Many charity shops get inundated with stock and need to keep things moving through which is why they will negotiate. Like you, I wouldn't try to get prices knocked down but I can see scenarios where some might. 

 

In this instance to maximise her profit margin whilst also claiming benefits 

[A Red]

 

9 hours ago, AngryOfTuebrook said:

Good to see that AirB&B is included in those OECD regulations: that's become an aggravating factor of all kinds of social and economic problems, so it's only right that the profiteers should be properly taxed.

 Agreed, up until recently have been competing with holiday let businesses (me) without any health and safety requirements or tax burdens.

[A Red]

Just now, Clem H Fandango said:

 

In this instance to maximise her profit margin whilst also claiming benefits 

Go to a car boot sale and i'm sure there are loads doing the same. These people are usually at the bottom of the economic ladder, I just think resources need to be used for the dodgers at the top which would bring in far more tax revenue. Just imagine how many tax inspectors would be required to cover all of this nationwide, let alone the ebay, auction, vinted, facebook etc. sellers.

 

Hark at me wanting to defend/turn blind eye to the poor and attack the rich.

[AngryOfTuebrook]

8 minutes ago, A Red said:

Go to a car boot sale and i'm sure there are loads doing the same. These people are usually at the bottom of the economic ladder, I just think resources need to be used for the dodgers at the top which would bring in far more tax revenue. Just imagine how many tax inspectors would be required to cover all of this nationwide, let alone the ebay, auction, vinted, facebook etc. sellers.

 

Hark at me wanting to defend/turn blind eye to the poor and attack the rich.

The point of the new OECD measures is to make tax collection from people turning profits on Airbnb, ebay, etc. a lot less resource-intensive for HMRC.  If I'm understanding it correctly, the apps will provide information to HMRC, who can then cross-check it with their own records.  That needn't be too onerous.

 

Obviously, we need greater efforts to clamp down on the large-scale tax dodging of the rich, but we need this as well.

 

Also, car boot sales are not comparable to charity shops, because the latter (believe it or not) are trying to raise money for charity.