the snap general election thread

lovinituk

masterwilde wrote: »

lol you make me laugh hallmark, did each small business let go of its employees at 26% tax. If so it certainly didnt dominate the news

I know lots that would probably have to if it went back to those levels now.

There are many more small companies around now due the explosion of businesses started off the back of the rapid growth in ecommerce in the last few years.

hallmark

lovinituk wrote: »

I know lots that would probably have to if it went back to those levels now.

There are many more small companies around now due the explosion of businesses started off the back of the rapid growth in ecommerce in the last few years.

And the same would be true of the big companies. Even more so since the owners of small companies will often accept a worse bottom line just to avoid letting staff go. Something that the accountants in large companies have no trouble doing.

masterwilde

your living in a dream world if you think the companies are going to damage themselves by laying off the staff. They will also not move as for small its financial suicide and for medium/large they are not going to get the competitive rate they are after around Europe, they wont go to southern ireland now as the potential for the peace agreement to break up.

Any business that can call itself one, would not be screwed by a 8% hit to corporation tax. Any accountant worth their fees will explain how much can be mitigated and how to do so.

Also lets not forget that JC has already addressed the micro/small business owner by stating the government will help those out who need it.

lovinituk

masterwilde wrote: »

Any business that can call itself one, would not be screwed by a 8% hit to corporation tax. Any accountant worth their fees will explain how much can be mitigated and how to do so.

Also lets not forget that JC has already addressed the micro/small business owner by stating the government will help those out who need it.

Oh ok, sorry my experience in running my own company counts for nothing. As does that of all the other small company owners I know through networking and friends. I'll bow down to your opinion without basis in any experience.

hallmark

masterwilde wrote: »

Any business that can call itself one, would not be screwed by a 8% hit to corporation tax.

:rotfl::rotfl:

Haha, my apologies. Up until now I thought you were being serious.

hallmark

masterwilde wrote: »

Any business that can call itself one, would not be screwed by a 8% hit to corporation tax. Any accountant worth their fees will explain how much can be mitigated and how to do so.

Also, not for nothing, but if an 8% rise in corp tax can be mitigated then what would be the point in imposing it? The net hike to the exchequor would be zero.

Seriously, at least have a think before posting this stuff.

Unless you're a Tory troll in disguise trying to make Corbyn supporters look bad?

masterwilde

firstly, i use to own a business 15 years ago that employed 10 staff.

secondly, unless the rules changed, if you cant find anyway to mitigate some of your profits something is wrong

thirdly, accountants can be very good at this. I paid very little corporation tax when i ran my company as my accountant was wise

hallmark

masterwilde wrote: »

thirdly, accountants can be very good at this. I paid very little corporation tax when i ran my company as my accountant was wise

So you are simultaneously saying UK companies should be forced to pay much higher corp tax whilst admitting you avoided as much as possible? Wow.

lovinituk

masterwilde wrote: »

firstly, i use to own a business 15 years ago that employed 10 staff.

secondly, unless the rules changed, if you cant find anyway to mitigate some of your profits something is wrong

thirdly, accountants can be very good at this. I paid very little corporation tax when i ran my company as my accountant was wise

We already mitigate things as much as possible and pay as little corporation tax as we legally can.

It's simple maths. The additional corporation tax at 27% for us would be more than the net cost to us of paying the staff.

We wouldn't be in trouble but it would affect my families income. I'd rather get rid of the staff and work harder like I did before we took on staff.

We're not rich by any means. We (my wife and I both work in the company) work bloody hard and never have holidays. But if the government wanted extra corporation tax from me the first thing to go would be the staff.

I wouldn't feel guilty about getting rid of the staff. We already put thousands more into the governments purse without me needing to reduce my families income even further.

masterwilde

ofcourse

Know one with any brains pays as much as they can, everyone aims to mitigate tax legally, jsut not all to the maximum extent.

I believe we trade on a EU/global basis, we are still part of the EU, our tax should be in a competitive line with these countries. You really both have the cake and eat it, if you want EU/global trade then expect to pay similar rates of tax.