Jack Monroe #343 A heavy dose of chickpea and loathing

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NellieBoo

NellieBoo

hellosailor⚓ said:
I've been browsing her blog. In her sponsored sleep outside post she whines on and on about how awful if was for her because she used to be so afraid of losing her flat. She's never slept rough (obvs). There's also a great poem that some ninnies might not have seen yet, so tuck in! Note her "middle class" voice, clearly before she got too working class for the beeb. Why was even she on the radio?!

web.archive.org

Girl On The Radio. Lyrics and Music by Jack Monroe.

Somewhere before the news, That another celebrity has passed away; Somewhere before the sports reports, Was the news item of the day. Somewhere between the sixties pop, And the punk and metal reviv...
web.archive.org web.archive.org
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Will I ever learn not to click links about Jack involving anything. But particularly, TV, radio, poetry, piano playing or singing.
 
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Lazarus

Lazarus

jenny2603 said:
I think she is eager to impress and gets carried away, so if the journalist didn't appear that moved by The Poverty she'd think nothing of chucking in a new detail like sleeping rough to spice the story up.
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This is how I see it too. I think she makes a loose attempt to not regurgitate the same story over and over again so adds a bit on every time she tells it to spice it up.
 
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Falkor

Falkor

auntylil said:
I was about to say the same thing.

@MsGilmore she was definitely listed as Director (one and only).

I suspect @Mrs Peel that as GriftyMcGriftFace (best name :LOL: ) suggested, she took advice from her accountant (although in something I read this afternoon, she listed herself as accountant, in a long list of job titles she held - if that's the case, it would have been bad advice, but I digress) and set up the company to reduce her tax burden.

As mentioned previously, I did a lot of accounts for small businesses, some were limited and some just sole traders who needed a helping hand. One such business (hopefully none of the directors are on here or I could🔺myself :censored:) had 3 directors, each holding a share worth £1 each, of which 3 were issued. They were also all self employed. From the business, they received dividends - which were pretty impressive amounts as it was an extremely profitable company - and only "earned" a couple of quid under the threshold for paying tax. Essentially, at that particular time, they were legally earning around £8,500 and not paying tax. Their dividends were taxable in accordance with the current rates at the time, but this still worked out beneficially for them. They also had director's loans, but I wasn't involved in that so no idea if that would also be beneficial - I'm guessing it would be or why do it (I believe the company pays tax on them, but it wasn't my area of expertise so can't really say without digging).
Rather cleverly, :unsure: they bought a cheap building between them, then rented it to the company as premises, earning themselves a massive payment each month in rental income! This more than covered the refurbishment required as well as giving them a wad of cash! Somehow this was tax free but I never understood why (their official accountant looked after that part when I submitted my part of the accounts to him).

Apologies for rambling, I guess what I'm trying to say is that Jack's accountant will definitely have worked out the most tax-efficient way for her to operate. But if she didn't keep on top of stuff - and she obviously didn't - then it was a complete waste of time.:sneaky:

In my opinion, and this is just a guess, I'd say she definitely wouldn't have been showing any PayPal donations (from whatever source) as income in her self-assessment submissions. Unless they have reason to doubt what you're submitting, in my experience HMRC generally don't chase up thousands of sole traders for proof of income, so she could be getting away with all sorts.:mad:
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They might have put it in a SSAS - if you have your own limited company, the company sets up a SSAS (small self-administered scheme) pension scheme for its directors, payments are made into it to take advantage of the tax breaks on pension contributions or directors can transfer other pensions they already have into it to seed it with cash, the SSAS then buys the building and rents it to the company, rents go back into the SSAS and are added to the directors' pension pots under the same favourable tax regime. All completely legal and the SSAS can even take on a mortgage to buy it, within certain limits.
Also I just checked the disqualifications list on Companies House, she hasn't been disqualified, she could start another limited company tomorrow if she wanted.
 
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Elastoblast

Elastoblast

NellieBoo said:
Will I ever learn not to click links about Jack involving anything. But particularly, TV, radio, poetry, piano playing or singing.
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I managed to resist the temptation to click on that link but it's only after repeatedly clicking, cringing and regretting in the past
 
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auntylil

auntylil

Falkor said:
They might have put it in a SSAS - if you have your own limited company, the company sets up a SSAS (small self-administered scheme) pension scheme for its directors, payments are made into it to take advantage of the tax breaks on pension contributions or directors can transfer other pensions they already have into it to seed it with cash, the SSAS then buys the building and rents it to the company, rents go back into the SSAS and are added to the directors' pension pots under the same favourable tax regime. All completely legal and the SSAS can even take on a mortgage to buy it, within certain limits.
Also I just checked the disqualifications list on Companies House, she hasn't been disqualified, she could start another limited company tomorrow if she wanted.
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Thanks for the explanation - I had to read it 4 times before it registered lol, think I get it now (sort of haha). This is why I only did accounts to trial balance! :LOL:

I was thinking that, too - bet she comes back with something new at some point. Would love to know what the (alleged) meeting with her (alleged) accountant entailed! I'm nosey like that though.😁

Thankspaceyou Marmalade Atkins for the new avatar😘 - there was far too much choice, I hope you don't mind me borrowing this one!:ROFLMAO:
 
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jenny2603

jenny2603

Falkor said:
They might have put it in a SSAS - if you have your own limited company, the company sets up a SSAS (small self-administered scheme) pension scheme for its directors, payments are made into it to take advantage of the tax breaks on pension contributions or directors can transfer other pensions they already have into it to seed it with cash, the SSAS then buys the building and rents it to the company, rents go back into the SSAS and are added to the directors' pension pots under the same favourable tax regime. All completely legal and the SSAS can even take on a mortgage to buy it, within certain limits.
Also I just checked the disqualifications list on Companies House, she hasn't been disqualified, she could start another limited company tomorrow if she wanted.
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I think if the last few years has taught us anything, it's that Jack is waaaaay too stupid to have a Ltd company. You'd get better results putting a pigeon in charge.
 
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jenny2603

jenny2603

Screenshot 2022-07-20 20.43.58.png


An oldish tweet and not from one of the usual suspects. You'll be amazed to learn, no correction came.
 
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