The leader of a union for senior civil servants has urged the government to end arrangements under which some employees can avoid paying income tax.
The comments follow reports that the Department of Health was paying the salaries of 25 senior staff direct to limited companies.
BBC reporting on the tax 'avoidance'
But wait up..........
Big-name stars such as Jeremy Paxman, Fiona Bruce and Emily Maitlis have set up companies to channel their earnings, which will save them from having to pay the new 50 per cent income tax rate on salaries over £150,000.
How can I avoid PAYE ?
Tax avoidance....scam ?
Tax avoidance....scam ?
I thought I knew more than this until I opened my mouth
Tax avoidance....scam ?
Bruv;1384858 wrote: How can I avoid PAYE ?Stop being an employee and go onto Schedule D self-declaration. You need to have several sources of income, none of which preponderates, and you need to invoice each one in your own right (as opposed to through a limited company which in turn employs you and pays PAYE). You then declare your income annually and send off a cheque for the income tax accrued between 24 and 12 months ago, with fiddly details on your first and last year to work round the long deferral period.
if you do use a limited company as an intermediary then you potentially delink the company's massive billing from the trivial salary your company pays you, which means the PAYE can be (if you want it to be) a lot lower than it would have been, but you'd still be paying PAYE.
if you do use a limited company as an intermediary then you potentially delink the company's massive billing from the trivial salary your company pays you, which means the PAYE can be (if you want it to be) a lot lower than it would have been, but you'd still be paying PAYE.
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
Tax avoidance....scam ?
spot;1384860 wrote: Stop being an employee and go onto Schedule D self-declaration. You need to have several sources of income, none of which preponderates, and you need to invoice each one in your own right (as opposed to through a limited company which in turn employs you and pays PAYE). You then declare your income annually and send off a cheque for the income tax accrued between 24 and 12 months ago, with fiddly details on your first and last year to work round the long deferral period.
if you do use a limited company as an intermediary then you potentially delink the company's massive billing from the trivial salary your company pays you, which means the PAYE can be (if you want it to be) a lot lower than it would have been, but you'd still be paying PAYE.
As simple as that..........when I have worked out what 'preponderates' means..... I might try it.
It was a rhetorical question don't you know ?
The majority of the population just don't get the choice in reality do they ?
I mean those that work for the Tax office for instance ironically or any other employer as it happens.
if you do use a limited company as an intermediary then you potentially delink the company's massive billing from the trivial salary your company pays you, which means the PAYE can be (if you want it to be) a lot lower than it would have been, but you'd still be paying PAYE.
As simple as that..........when I have worked out what 'preponderates' means..... I might try it.
It was a rhetorical question don't you know ?
The majority of the population just don't get the choice in reality do they ?
I mean those that work for the Tax office for instance ironically or any other employer as it happens.
I thought I knew more than this until I opened my mouth
Tax avoidance....scam ?
Ah.
Oh.
Oh.
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.