Congrats buddy

Indeed, I worked for companies with margins of like 15% - so the government made more than the company.....it's a rip off.

Perfectly sums up the new ‘social contract’ imo (think it’s from the Spectator 👌)

It takes ages for people to realise, how much tax they actually pay, and where that money goes. The tax you pay is your hard earned money, not Govt's. It should be spent where you want it, not where Government wants it.

As funny as this is - it's actually not funny But it does drive home an important point - VAT at £90k cripples so many small businesses - stops them in their tracks - stifles growth - creates huge hurdles that many can not climb It's time to scrap VAT on small businesses or at the very least raise the threshold way higher

Now add PAYE contributions and NI

Many people start of as liberal left wingers. Then, the more tax you pay and the more tax you see wasted, the further right you get.

100% accurate - and WHY do people see it other than a gang (bunch of people) in an area (let's call it UK) taking protection money to operate under threat of violence (let's call them police gang who will lock you up) tax is best scam ever, they made it legal to rob you

23% in Ireland 😭

Tax is theft

Welcome to your new silent business partner. They take no financial risk, let you do all the work, they tie you up with red tape and then want paying first before you pay anyone else, again when you pay staff, once more if you make a profit and yet again when you draw money out.

@moving_charlie As a private landlord, I’m lucky to make as much as 5% whilst the government take 45% (soon to be 47%). I take all the risk. Make it make sense.

Taxes hit different if you run your own business or if you work physical manual labor. Makes you feel like a slave. I think a lot of governments would see massive revolts if people didn't have taxes taken directly out of their paychecks, and had to total and pay end of year.

Is anyone able to look past the more than superficial resemblance between this and the Mafia? The only real difference with the mob is, they will actually defend you from other mobs trying to extort you.

It’s called a Shake Down

Funny, until you realize 🤬🤬🤬🤬🤬🤬🤬

Don’t forget - tradie tax evasion. Don’t forget - vat off inputs. £90k is too high.

...and to think people still go out and vote.

So if you're doing ok on 90 grand, best limit your earnings to 89 grand and have some extra time off work? Assuming 90 grand is the threshold? 🤔

VAT is factored into the price. It's a tax on customers not business.

Sucking money out of the economy to pay for the unwanted boat people, classic liebour stunt 😏

You pay vat on your sales, and you reclaim vat on your purchases (if the supplier is also vat registered) Ergo, this is (essentially) 20% tax on your profit, delivered quarterly, and then you pay another 20% annually too. Oh, that’s not including corporation tax either!

Someone please explain..... why in the FCUK are we allowing this?????

It’s the most insane tax ever - millions of businesses and accountant counting 20% all through the supply chain just so you can stealth tax people. Appreciate a lot of this is to enable HMRC to probably tax large multi-nationals but 99% of companies are small. VAT should be scrapped for all limited companies, where 100% of the owners are UK tax resident, in addition to scrapping corporation tax for these companies. The tax should be applied to the money the owners extract from the business - and this should a single flat rate to remove the need for owners to keep actively managing their taxes, so they can focus on growing the business and making UK plc richer.

@OneNationAus sounds familiar.

PS: enjoy competing with the guys down the road who dodge both VAT and corporation tax by shutting down every nine months for a weekend, to return with all the same staff and continue to trade like nothings happened.

Vat isn't a tax on your business its a tax on your customers. As a business we collect it from the customers and give it to hmrc. In return they allow a business to claim back any vat we have paid when we buy whatever we need to service our customers.

I’d like to know where the ‘value’ is in the tax

“Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.” - Ronald Reagan

Garnish with some cheeky business rates for the privilege 🤩

Just about sums it up. At least Dick Turpin wore a mask when he robbed people, HMRC are shameless.

@Alexparker09A

Our Labour Government is killing business, killing Jobs, and killing growth. It's not sustainable.

Excellent. Perfectly represents the theiving class.