Right, all this DC tax return stuff...

Do you have difficulty sustaining your election?

Re: Right, all this DC tax return stuff...

Post by Dirk @ Thu Apr 14, 2016 1:24 am

On the subject of tax minimisation.

With the new dividend tax thing, say I have company which i would not use or sell after retirement where I have saved up some money. Then after retirement I can take out £10k a year without paying tax at all (separately from tax threshold I get for pension). Is that moral?

And can anyone recommend suitable investment vehicles for company funds to maximise benefits of such
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Re: Right, all this DC tax return stuff...

Post by Careless Whisperer @ Thu Apr 14, 2016 4:53 am

Dirk wrote:On the subject of tax minimisation.

With the new dividend tax thing, say I have company which i would not use or sell after retirement where I have saved up some money. Then after retirement I can take out £10k a year without paying tax at all (separately from tax threshold I get for pension). Is that moral?

And can anyone recommend suitable investment vehicles for company funds to maximise benefits of such

You'd be paying corporation tax as you build the savings up in the company, then on any interest earned. Would it make any significant savings?
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Re: Right, all this DC tax return stuff...

Post by Careless Whisperer @ Thu Apr 14, 2016 5:02 am

Greg66 wrote:Lots of stuff

Put simply though, it used to be socially unacceptable not to work, now it's more unacceptable to clean toilets etc.
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Re: Right, all this DC tax return stuff...

Post by Il Duce @ Thu Apr 14, 2016 9:56 am

jimbob wrote: speaking to an italian friend of mine he said there used to be a system in Italy where people could choose where there taxes where spent.



It still exists today: People choose to spend their taxes on themselves instead of giving it to the govt. to piss up the wall.
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Re: Right, all this DC tax return stuff...

Post by HappyGoLucky @ Thu Apr 14, 2016 4:30 pm

If you want simplified tax, move to Singapore. I've just done my return online. It took 15 minutes and 10 of them were convincing the website I was really me and I no longer lived in the apartment I had when I was first out here in '95?

It's basically 2 sides of A4 and if you don't have children or disabled relatives you can only really claim 2k for having a wife - yes she thought she was worth more too, but that's a different argument.

At the end of it they give you an outline assessment that they'll follow up with a final number a fortnight later. In my experience, the assessment has always been cock on.

For last year, I shall be paying 13.7% Legally, as some would say.
Last edited by HappyGoLucky on Thu Apr 14, 2016 4:33 pm, edited 1 time in total.
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Re: Right, all this DC tax return stuff...

Post by HappyGoLucky @ Fri Apr 15, 2016 12:48 am

Niner, looking at the state of your formatting you might want to get someone to look at your eyes!



If it's any consolation, I'll most likely end up paying more money to France in social charges off the back of my Singapore earnings than I had to give Singapore in the first instance.
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