I was talking to a self employed driver today,he reckons he is legally able to “opt out” of paying national insurance,and has done. He then tells me that because his accountant does such a good job on his books that only pays about £300 tax on approx £27000 earnings,and gets free prescriptions because he is on a low wage!
Come on what other good ones have you heard? This had me chuckling for a couple of hours,but then I’m easily amused.
Any one got any other good uns?
Paying £300 tax when earning £27,000 self employed is believable with the right accountant. My wife is self employed and she don’t pay much tax (all above board of course).
If you’re self employed or run a small company the last thing you want to do is show a profit. You’ll be amazed how easy it is for ‘overheads’ to swallow up most of your self employed income 
I can believe the tax figure but afaik you ca t opt out of NI
My dads last tax bill before he retired as a self employed builder ( including doing some lottery funded village hall renovations) was the grand sum of £38.50 !
I’m all for paying as little tax as possible… BUT opt out of national insurance contributions will balls up any chance you have of a state pension etc
dogthehunter:
I’m all for paying as little tax as possible… BUT opt out of national insurance contributions will balls up any chance you have of a state pension etc
I think the chance of getting a state pension in a few years time, is ballsed up already. 
You English guys should go independent,we dont pay for prescriptions up here in bonny Scotland.
alamcculloch:
You English guys should go independent,we dont pay for prescriptions up here in bonny Scotland.
Without wanting to turn this into yet another Scottish Independence thread I’d like to point out that you actually aren’t independent quite yet, and I think that if you do actually gain full independence then paying for prescriptions will be the very least of your worries.
I think you will find that if he was ever subject to a revenue investigation his tax bill would rise somewhat.
Tipper Tom:
I can believe the tax figure but afaik you ca t opt out of NI
You can, but it affects ya state pension on retirement, but only if you haven’t payed enough in, is it 30 years?
weeto:
Tipper Tom:
I can believe the tax figure but afaik you ca t opt out of NIYou can, but it affects ya state pension on retirement, but only if you haven’t payed enough in, is it 30 years?
I would have a scooby fella tbh. No idea at all
Being a director I don’t pay any ni at all .i still have a state pension too .
A lot of guys on here should be giving tax advic to the goverment,there wasted as drivers
If ltd company self employed then i would say is true
I pay no ni as wage under threashfold havnt for 10yrs and my pension credit still goes in
Paid no personal tax for same period
(Last year with divi £36500 incl wages). Plus nights out on top
Corporation. TAx £1 for last tax year
And all legal and above board Nd had an inspection last year no problems
I know plenty of od who get tax credits and the nat health exemption card
For free prescriptiqns opticans money off glasses and dental care
Had one a few years back but dont bother any more
As the mrs get wage and divi aswell now
nearly there:
A lot of guys on here should be giving tax advic to the goverment,there wasted as drivers
Its called having a good accountant and listening to what they tell you
No company director in uk should be paying ni if done correctly
I bet this post isnt going the way you thought Beetshifter?
It used to be good on here.
gettin-on:
nearly there:
A lot of guys on here should be giving tax advic to the goverment,there wasted as driversIts called having a good accountant and listening to what they tell you
No company director in uk should be paying ni if done correctly
While you were out earning 36500 last your who was keeping your mrs warm while you were keeping the driving seat warm.no one earns that cash on trucks even using two cards a shift.
nearly there:
gettin-on:
nearly there:
While you were out earning 36500 last your who was keeping your mrs warm while you were keeping the driving seat warm.no one earns that cash on trucks even using two cards a shift.
its called earning potential! 
£36,500 is being ripped off 