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Old 30-01-2008, 05:02 PM   #1 (permalink)
#1 Bob Nutcher
 
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Declining Nett Profits
"Sorry, we may not be able to help you as your accounts show declining nett profits...."

Grrr!!!! :gun:

Obviously they show declining net profits! I've found yet more ways to reduce my tax exposure!!!

All I want is another mortgage. Not hard is it...?

Why, just because I'm a work shy tax dodger, must I be expected to explain the concept of tax efficient and forensic accounting to people who should know better...

Sorry. Rant over.

Appologies if you don't know what the above means.
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Old 30-01-2008, 05:04 PM   #2 (permalink)
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Re: Declining Nett Profits
Quote:
Originally Posted by TH&S View Post
"Sorry, we may not be able to help you as your accounts show declining nett profits...."

Grrr!!!! :gun:

Obviously they show declining net profits! I've found yet more ways to reduce my tax exposure!!!

All I want is another mortgage. Not hard is it...?

Why, just because I'm a work shy tax dodger, must I be expected to explain the concept of tax efficient and forensic accounting to people who should know better...

Sorry. Rant over.

Appologies if you don't know what the above means.

lol...........erm.........its been a long day :(
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Old 30-01-2008, 05:07 PM   #3 (permalink)
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Re: Declining Nett Profits
it's a beggar isn't it.... I always tried to not make a profit so as not to pay corporation tax but sometimes it is hard to do.... and then when you need to show a profit... you can't because you are reducing tax exposure...
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Old 30-01-2008, 05:10 PM   #4 (permalink)
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Re: Declining Nett Profits
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Originally Posted by Slamdog View Post
it's a beggar isn't it.... I always tried to not make a profit so as not to pay corporation tax but sometimes it is hard to do.... and then when you need to show a profit... you can't because you are reducing tax exposure...
Don't get me wrong - I pay my fair shair of tax, but grrrr.

A number of peices of equipment we have came end of life - so we wrote them off (which reduces) tax. Didn't in anyway affect my takehome pay. But it did reduce my company tax bill.

Pah!
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Old 30-01-2008, 05:49 PM   #5 (permalink)
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Re: Declining Nett Profits
Quote:
Originally Posted by TH&S View Post
"Sorry, we may not be able to help you as your accounts show declining nett profits...."

Grrr!!!! :gun:

Obviously they show declining net profits! I've found yet more ways to reduce my tax exposure!!!

All I want is another mortgage. Not hard is it...?

Why, just because I'm a work shy tax dodger, must I be expected to explain the concept of tax efficient and forensic accounting to people who should know better...

Sorry. Rant over.

Appologies if you don't know what the above means.

could you put it in laymans terms please
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Old 30-01-2008, 05:54 PM   #6 (permalink)
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Re: Declining Nett Profits
basically, you 'lose' money on paper so as not to pay tax on it.

for example..

if i had made 1000 profit this year i would have to pay tax on it. If i bought a computer for 800 then i would only be liable for tax on 200 quid because a computer is a legitimate business purchase....
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Old 30-01-2008, 06:12 PM   #7 (permalink)
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Re: Declining Nett Profits
Quote:
Originally Posted by Slamdog View Post
basically, you 'lose' money on paper so as not to pay tax on it.

for example..

if i had made 1000 profit this year i would have to pay tax on it. If i bought a computer for 800 then i would only be liable for tax on 200 quid because a computer is a legitimate business purchase....

aaaaaaaaaaaaah I see
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