Dragons den

[JPaul]

Anyone who has even the slightest understanding of the business tax system will know you can write off expenses like a pair of shoes, a car or even a building for your company. But unlike most, the important purchases we have made (on the advice of our accountant) actually appreciate in value and not depreciate.

See it's not just what you plagiarise that gives you away, it's the way you write it that shows you don't atually know what it means. Demonstrating that you are the very person you describe as having " ....even the slightest understanding of the business tax system ...."

You're a fantasist and a pest, eveyone knows that.

[DanB]

Anyone who has even the slightest understanding of the business tax system will know you can write off expenses like a pair of shoes, a car or even a building for your company

You can't - cars and buildings are capital expenses. It's impossible to write them off to decrease your tax.

You can claim up to 25% of a cars value and sometimes you get a 2% industrial buildings allowance but you can't write it all off in the same tax year.

Rob doesn't understand shit.

[Santa]

i write of cd's, dvd's, going to movies, vacations, taxi's plus all the other usual stuff

[Robert00000]

Anyone who has even the slightest understanding of the business tax system will know you can write off expenses like a pair of shoes, a car or even a building for your company

You can't - cars and buildings are capital expenses. It's impossible to write them off to decrease your tax.

You can claim up to 25% of a cars value and sometimes you get a 2% industrial buildings allowance but you can't write it all off in the same tax year.

Rob doesn't understand shit.

WTF, you're just comfirming what i've been saying. The point is you can reduce your tax liabilities by re-investing the profit within the business and you just confirmed that. But i wont claim to be an expert on tax, thats why i employ the services of people who are.

@Gepperrankings, I doubt she wants that, she would gain more pleasure if she hacked me to death with an axe

@ Missie

I run a buisness too, but mine is a non profit org

Better you than me. I like to make money maybe when i have enough one day i'll give some to charity

[JPaul]

You can't - cars and buildings are capital expenses. It's impossible to write them off to decrease your tax.

You can claim up to 25% of a cars value and sometimes you get a 2% industrial buildings allowance but you can't write it all off in the same tax year.

Rob doesn't understand shit.

WTF, you're just comfirming what i've been saying. The point is you can reduce your tax liabilities by re-investing the profit within the business and you just confirmed that.

That's not what you said tho', you mentioned specific things which Dan has now said that you can't write off against your tax.

You are googling stuff about business, misunderstanding it, posting here, making an arse of yourself, retracting what you said and generally being a twat.

The really sad thing is that you are keeping it up, in spite of the fact that everyone else knows it is a fantasy character you created for the interweb.

What's the point, have you no pride.

Maybe one day you will have the business you dream of, best of luck. However until then it would be better to put your efforts into achieving it, rather than trying to impress people with what you may one day become.

That's a bit of business advice by the way, take it or leave it. It's no skin of my .... etc.

[Robert00000]

WTF, you're just comfirming what i've been saying. The point is you can reduce your tax liabilities by re-investing the profit within the business and you just confirmed that.

That's not what you said tho', you mentioned specific things which Dan has now said that you can't write off against your tax.

You are googling stuff about business, misunderstanding it, posting here, making an arse of yourself, retracting what you said and generally being a twat.

The really sad thing is that you are keeping it up, in spite of the fact that everyone else knows it is a fantasy character you created for the interweb.

What's the point, have you no pride.

Maybe one day you will have the business you dream of, best of luck. However until then it would be better to put your efforts into achieving it, rather than trying to impress people with what you may one day become.

That's a bit of business advice by the way, take it or leave it. It's no skin of my .... etc.

As I have said before you can believe what i say here or not, its completely your choice, i frankly couldnt care less.

The character here is not fantasy, its me. Maybe i sometimes dont take the time to explain things here as much as i should and some people start making presumptions (namely manker), but i honestly have better things to do than answer every question everyone asks.

The only thing I "googled" was the definitions for gross and net profits, and reason for that was so they werent my own, and people had elsewhere for reference.

To clarify what we have been discussing here, 1 - Outsourcing. I stated it was the reason for our high margins because we employed the services of lower cost workers outside the UK. Manker said outsourcing" costs more money


Will be back later to complete this

[JPaul]

That's not what you said tho', you mentioned specific things which Dan has now said that you can't write off against your tax.

You are googling stuff about business, misunderstanding it, posting here, making an arse of yourself, retracting what you said and generally being a twat.

The really sad thing is that you are keeping it up, in spite of the fact that everyone else knows it is a fantasy character you created for the interweb.

What's the point, have you no pride.

Maybe one day you will have the business you dream of, best of luck. However until then it would be better to put your efforts into achieving it, rather than trying to impress people with what you may one day become.

That's a bit of business advice by the way, take it or leave it. It's no skin of my .... etc.

As I have said before you can believe what i say here or not, its completely your choice, i frankly couldnt care less.

Obviously.

[Biggles]

Anyone who has even the slightest understanding of the business tax system will know you can write off expenses like a pair of shoes, a car or even a building for your company

You can't - cars and buildings are capital expenses. It's impossible to write them off to decrease your tax.

You can claim up to 25% of a cars value and sometimes you get a 2% industrial buildings allowance but you can't write it all off in the same tax year.

Rob doesn't understand shit.

These are called Capital Allowances and are what are allowable against taxable profit. A business can depreciate its assets anyway it likes, over 1 year or over 20, reducing balance or straight depreciation. However, it matters not one jot to Gordon Brown, as for tax purposes one must use the Treasury CAs and the set rates provided. Investing in Capital Assests purely to soak surplus cash and prevent it being taxed is ok but it will play havoc with your "return on capital employed" ratios.

Sometimes assets are sold, such as a company car, If, on disposable, the value of the realised asset is greater than the written down CAs value then a taxation balance is charged.

The only things that one is allowed a 100% write off in year are computers - and this for only small businesses (Treasury defintion of business size only).

Of course operating expenses are deductable from Gross Profit ... shoes (safety, for the use of) being a good example.

One also has to be careful with investments in items classed as Goods and Chatels (i.e. the missus) as these will be subject to Capital Gains tax on their disposal if a profit is realised.

There are all sorts of other things going on such as rollover, 1980s tax rebasing (twice), change of use etc., which we should all just walk away from and pretend they don't exist.

I hope this makes everything as clear as a pint of Guiness.

[manker]

I hope this makes everything as clear as a pint of Guiness.

Indeed it does.

Maybe I should take your lead and go on to post a wee epistle about deferred taxation as it follows on nicely from there

That quote from Dan; I wrote it at his house and had absolutely no recollection of it whatsoever until now. It's cheering to know that I can clerk with the best of 'em even when slightly inebriated

[Biggles]

I hope this makes everything as clear as a pint of Guiness.

Indeed it does.

Maybe I should take your lead and go on to post a wee epistle about deferred taxation as it follows on nicely from there

That quote from Dan; I wrote it at his house and had absolutely no recollection of it whatsoever until now. It's cheering to know that I can clerk with the best of 'em even when slightly inebriated

As long as you don't mention VAT.

I did once but I think I got away with it.