Jack Monroe #78 All of your food is brown

[Silver Linings]

She’s talking on twitter about her private and specific prescriptions she’s on as she recovers from burnout. Stop oversharing!!! People are replying with similar sad tales and in fairness she is stating she’s not an expert but you just can’t use a public platform in this way.

 

[Alansbigplate]

Fraus, I need to make a key lime pie but have no limes, can I use vinegar, or bottled lemon juice?

I only had lard in so am making the base with that, will it be OK?

Yes, absolutely. Now get to duck x

 

[MrsOgre]

She’s talking on twitter about her private and specific prescriptions she’s on as she recovers from burnout. Stop oversharing!!! People are replying witb similar sad tales and in fairness she is stating she’s not an expert but you just can’t use a public platform in this way.

Are they real prescriptions or fictional for sympathy?

 

[Silver Linings]

“Keep in touch with your doctor” “Call your doctor”

How about instead you don’t suggest that it’s easy to don your designer gear and stomp over to your GP and then be given drugs that would put you on what you scarily called ‘a rollercoaster’. Then swan about for weeks swinging away in your hammock chilling out reading books until you feel well enough to spend all bleeping day on twitter.

Rage. I’m inarticulate but she’s such a bloody dangerous head.

 

[Brian Butterfield]

I was going to comment about this the other day and then wasn't sure if I should!

So she filed a set of micro accounts for the year to 31 March 2019 v late (she was in danger of being struck off). At that point there was £15,995 of cash in the business bank account. She had a tax bill (amounts owed are shown in brackets) of £28,014. This is likely to be the corporation tax owed for that year as it's always paid in arrears.

What that means is that she had insufficient funds in her company bank account for that tax year to pay her tax bill, and will be relying on income from the 2019/20 year to pay it.

I am also a freelancer and I was always taught: 1. Do not take out more from your business bank account than the tax owed because 2. If you have no income (or reduced income the following year) you may not have enough money to pay the tax bill as you still have to pay corporation tax on income from that year as well. This is how people end up going bankrupt when their income drops dramatically in subsequent years and they have spent the money that should be put aside to pay HMRC.

So essentially she's going to be in a cycle of robbing Peter to pay Paul - hence I think the realisation that she needs to cut down.

It's technically fine to run your business account this way as long as times are always good. But clearly she's had no income of any significance since Hellmans. This is why I don't do this because I couldn't sleep at night.

The other thing of interest is the amount of the tax bill. Corporation tax is 19% and is owed on your profits after expenses. At a v rough estimate that means there was a turnover in the business year to 31 March 2019 of approx £147k. We'll ignore VAT as it's paid quarterly and pretty much goes in and out (so is overall usually neutral in a micro company).

We can also see that at the point the accounts were made up, only £16k is held as cash at the bank, therefore approx £131k has been taken out of the business account that year. We know there is an assistant on the books as there are 2 employees shown on the accounts. Let's say including tax and NI the assistant has cost £25k to the business. That leaves a v generous approximation of £106k that will have gone to Jack in that business year.

Tax will also be owed on that via a personal tax return for the dividends or PAYE (however it's been taken out - there's v little difference these days in the overall tax due). If, as she states, she is only paying herself a living wage, then the rest has been put somewhere in her personal bank accounts, as it's not showing on the company bank account.

Obviously I can only comment on what's on the tax return for that year - there is another set of accounts due for the year to March 2020 and it will be interesting to see those when they appear.

I hope this is helpful - I don't remember anyone commenting in this much detail about the accounts at the time they became available. I'm not an accountant but I also run my own business (triangulate me if you dare) and I also file micro accounts, so they're easy for me to read.

I'll now duck off as I'm BUSY today.

Love this breakdown. Thank you!

My husband and I have our own business as a limited company, every invoice we get I put the tax and VAT aside straight away and I cannot understand people that don't do this. It is just basic common sense!

 

[HarderFaster]

I was going to comment about this the other day and then wasn't sure if I should!

So she filed a set of micro accounts for the year to 31 March 2019 v late (she was in danger of being struck off). At that point there was £15,995 of cash in the business bank account. She had a tax bill (amounts owed are shown in brackets) of £28,014. This is likely to be the corporation tax owed for that year as it's always paid in arrears.

What that means is that she had insufficient funds in her company bank account for that tax year to pay her tax bill, and will be relying on income from the 2019/20 year to pay it.

I am also a freelancer and I was always taught: 1. Do not take out more from your business bank account than the tax owed because 2. If you have no income (or reduced income the following year) you may not have enough money to pay the tax bill as you still have to pay corporation tax on income from that year as well. This is how people end up going bankrupt when their income drops dramatically in subsequent years and they have spent the money that should be put aside to pay HMRC.

So essentially she's going to be in a cycle of robbing Peter to pay Paul - hence I think the realisation that she needs to cut down.

It's technically fine to run your business account this way as long as times are always good. But clearly she's had no income of any significance since Hellmans. This is why I don't do this because I couldn't sleep at night.

The other thing of interest is the amount of the tax bill. Corporation tax is 19% and is owed on your profits after expenses. At a v rough estimate that means there was a turnover in the business year to 31 March 2019 of approx £147k. We'll ignore VAT as it's paid quarterly and pretty much goes in and out (so is overall usually neutral in a micro company).

We can also see that at the point the accounts were made up, only £16k is held as cash at the bank, therefore approx £131k has been taken out of the business account that year. We know there is an assistant on the books as there are 2 employees shown on the accounts. Let's say including tax and NI the assistant has cost £25k to the business. That leaves a v generous approximation of £106k that will have gone to Jack in that business year.

Tax will also be owed on that via a personal tax return for the dividends or PAYE (however it's been taken out - there's v little difference these days in the overall tax due). If, as she states, she is only paying herself a living wage, then the rest has been put somewhere in her personal bank accounts, as it's not showing on the company bank account.

Obviously I can only comment on what's on the tax return for that year - there is another set of accounts due for the year to March 2020 and it will be interesting to see those when they appear.

I hope this is helpful - I don't remember anyone commenting in this much detail about the accounts at the time they became available. I'm not an accountant but I also run my own business (triangulate me if you dare) and I also file micro accounts, so they're easy for me to read.

I'll now duck off as I'm BUSY today.

So when she explicitly stated on thread #31 that she never had and probably never would make six figures she was... lying?! Well colour me gobsmacked.

In her usual slimy, evasive manner she'd justify that by saying that Jack Monroe THE COMPANY (THEN) took in six figures, but Jack Monroe THE PERSON (NOW) only gets a pittance.

She's a rat.

p.s. thanks for clarifying this @Bumbear - I'm too thick to understand accounts so this was enlightening (and, to be honest, sickening... but that's not your fault )

 

[Lanie]

I love hearing what tips people over the edge and into Tattle.

For me it was her stupid rant about JO (THAT MAN) . I noticed a thread here and never left.

I still reel that Jack actually turned up here to complain to us about how nasty we were.

Lawyer up witches....etc.

I was going to comment about this the other day and then wasn't sure if I should!

So she filed a set of micro accounts for the year to 31 March 2019 v late (she was in danger of being struck off). At that point there was £15,995 of cash in the business bank account. She had a tax bill (amounts owed are shown in brackets) of £28,014. This is likely to be the corporation tax owed for that year as it's always paid in arrears.

What that means is that she had insufficient funds in her company bank account for that tax year to pay her tax bill, and will be relying on income from the 2019/20 year to pay it.

I am also a freelancer and I was always taught: 1. Do not take out more from your business bank account than the tax owed because 2. If you have no income (or reduced income the following year) you may not have enough money to pay the tax bill as you still have to pay corporation tax on income from that year as well. This is how people end up going bankrupt when their income drops dramatically in subsequent years and they have spent the money that should be put aside to pay HMRC.

So essentially she's going to be in a cycle of robbing Peter to pay Paul - hence I think the realisation that she needs to cut down.

It's technically fine to run your business account this way as long as times are always good. But clearly she's had no income of any significance since Hellmans. This is why I don't do this because I couldn't sleep at night.

The other thing of interest is the amount of the tax bill. Corporation tax is 19% and is owed on your profits after expenses. At a v rough estimate that means there was a turnover in the business year to 31 March 2019 of approx £147k. We'll ignore VAT as it's paid quarterly and pretty much goes in and out (so is overall usually neutral in a micro company).

We can also see that at the point the accounts were made up, only £16k is held as cash at the bank, therefore approx £131k has been taken out of the business account that year. We know there is an assistant on the books as there are 2 employees shown on the accounts. Let's say including tax and NI the assistant has cost £25k to the business. That leaves a v generous approximation of £106k that will have gone to Jack in that business year.

Tax will also be owed on that via a personal tax return for the dividends or PAYE (however it's been taken out - there's v little difference these days in the overall tax due). If, as she states, she is only paying herself a living wage, then the rest has been put somewhere in her personal bank accounts, as it's not showing on the company bank account.

Obviously I can only comment on what's on the tax return for that year - there is another set of accounts due for the year to March 2020 and it will be interesting to see those when they appear.

I hope this is helpful - I don't remember anyone commenting in this much detail about the accounts at the time they became available. I'm not an accountant but I also run my own business (triangulate me if you dare) and I also file micro accounts, so they're easy for me to read.

I'll now duck off as I'm BUSY today.

Can I just ask? Is this stuff available online as this is very interesting stuff and I didn't know you could access this information. I really am a bit of a Dumbo when it comes to anything over Googling some interesting fact or news report.

 

[Brian Butterfield]

Can I just ask? Is this stuff available online as this is very interesting stuff and I didn't know you could access this information. I really am a bit of a Dumbo when it comes to anything over Googling some interesting fact or news report.

Yes, it's all public! If you google the company name it will pull up the accounts x

 

[Switchstreetz]

Can I just ask? Is this stuff available online as this is very interesting stuff and I didn't know you could access this information. I really am a bit of a Dumbo when it comes to anything over Googling some interesting fact or news report.

I believe all uk companies have to file on https://www.gov.uk/government/organisations/companies-house

Also bravo to @Bumbear that was a fantastic and enlightening explanation. You've caught her in another lie so much for "i will never have a 6 figure income"

 

[TurnedUpInTipp]

Jack has just scored twice for United...
No, No, sorry, that was Marcus Rashford.

 

[Bumbear]

So when she explicitly stated on thread #31 that she never had and probably never would make six figures she was... lying?! Well colour me gobsmacked.

Obviously I couldn't possibly comment for certain...but if we were to do the take home pay on £106k (in 2020 figures) and assuming she paid it to herself as PAYE (unlikely - her accountant will have advised her to pay most of it by dividends, but anyway, for ease of maths). That gives a take home after tax of £69k per annum, or £6k per month. I.e. in all likelihood a higher rate tax payer for that business year to March 2019.

I shall leave that hanging for people to digest...it's all there in the accounts on Companies House in the public domain.

I believe all uk companies have to file on https://www.gov.uk/government/organisations/companies-house

Also bravo to @Bumbear that was a fantastic and enlightening explanation. You've caught her in another lie so much for "i will never have a 6 figure income"

Yes - the figures are from her micro accounts, filed publicly on Companies House - I have linked to the PDF in my first post.

 

[Thymian40]

Fraus, I need to make a key lime pie but have no limes, can I use vinegar, or bottled lemon juice?

I only had lard in so am making the base with that, will it be OK?

Yes, absolutely! X

Pro tip: If you run out of real keys then it’s absolutely fine to use the ones off the Tesco Finest Sardines in Chili Oil cans, too!

 

[heretoreaditall2019]

I was going to comment about this the other day and then wasn't sure if I should!

So she filed a set of micro accounts for the year to 31 March 2019 v late (she was in danger of being struck off). At that point there was £15,995 of cash in the business bank account. She had a tax bill (amounts owed are shown in brackets) of £28,014. This is likely to be the corporation tax owed for that year as it's always paid in arrears.

What that means is that she had insufficient funds in her company bank account for that tax year to pay her tax bill, and will be relying on income from the 2019/20 year to pay it.

I am also a freelancer and I was always taught: 1. Do not take out more from your business bank account than the tax owed because 2. If you have no income (or reduced income the following year) you may not have enough money to pay the tax bill as you still have to pay corporation tax on income from that year as well. This is how people end up going bankrupt when their income drops dramatically in subsequent years and they have spent the money that should be put aside to pay HMRC.

So essentially she's going to be in a cycle of robbing Peter to pay Paul - hence I think the realisation that she needs to cut down.

It's technically fine to run your business account this way as long as times are always good. But clearly she's had no income of any significance since Hellmans. This is why I don't do this because I couldn't sleep at night.

The other thing of interest is the amount of the tax bill. Corporation tax is 19% and is owed on your profits after expenses. At a v rough estimate that means there was a turnover in the business year to 31 March 2019 of approx £147k. We'll ignore VAT as it's paid quarterly and pretty much goes in and out (so is overall usually neutral in a micro company).

We can also see that at the point the accounts were made up, only £16k is held as cash at the bank, therefore approx £131k has been taken out of the business account that year. We know there is an assistant on the books as there are 2 employees shown on the accounts. Let's say including tax and NI the assistant has cost £25k to the business. That leaves a v generous approximation of £106k that will have gone to Jack in that business year.

Tax will also be owed on that via a personal tax return for the dividends or PAYE (however it's been taken out - there's v little difference these days in the overall tax due). If, as she states, she is only paying herself a living wage, then the rest has been put somewhere in her personal bank accounts, as it's not showing on the company bank account.

Obviously I can only comment on what's on the tax return for that year - there is another set of accounts due for the year to March 2020 and it will be interesting to see those when they appear.

I hope this is helpful - I don't remember anyone commenting in this much detail about the accounts at the time they became available. I'm not an accountant but I also run my own business (triangulate me if you dare) and I also file micro accounts, so they're easy for me to read.

I'll now duck off as I'm BUSY today.

omg you are !! Thank you for sharing your expertise step by step, who needs Southend police force with fraus like ours?!

HMRC are NOT kind to greedy little goblins and they see you spending your tax accruals as a pisstake cos it’s their money at the end of the day. If you’re late on payment they start taking estimations of future liabilities in advance, which obvs for a single person entity would be crippling. They’re also more likely to have a nosy on what exactly you’re putting through your expenses as wholly and exclusively for business use, can’t imagine Cotswolds Co will pass that one It’s not a position I’d ever want to be in tbh & if I was I certainly wouldn’t be posting pics up a very cushty lifestyle on Instagram or speaking of my Groucho membership so freely conveniently I think there’s a HMRC base in Southend?

 

[MrsOgre]

omg you are !! Thank you for sharing your expertise step by step, who needs Southend police force with fraus like ours?!

HMRC are NOT kind to greedy little goblins and they see you spending your tax accruals as a pisstake cos it’s their money at the end of the day. If you’re late on payment they start taking estimations of future liabilities in advance, which obvs for a single person entity would be crippling. They’re also more likely to have a nosy on what exactly you’re putting through your expenses as wholly and exclusively for business use, can’t imagine Cotswolds Co will pass that one It’s not a position I’d ever want to be in tbh & if I was I certainly wouldn’t be posting pics up a very cushty lifestyle on Instagram or speaking of my Groucho membership so freely conveniently I think there’s a HMRC base in Southend?

Hence why she has locked her accounts and done a massive delete. Good job we have all the receipts here

 

[Saint_clemmie]

omg you are !! Thank you for sharing your expertise step by step, who needs Southend police force with fraus like ours?!

HMRC are NOT kind to greedy little goblins and they see you spending your tax accruals as a pisstake cos it’s their money at the end of the day. If you’re late on payment they start taking estimations of future liabilities in advance, which obvs for a single person entity would be crippling. They’re also more likely to have a nosy on what exactly you’re putting through your expenses as wholly and exclusively for business use, can’t imagine Cotswolds Co will pass that one It’s not a position I’d ever want to be in tbh & if I was I certainly wouldn’t be posting pics up a very cushty lifestyle on Instagram or speaking of my Groucho membership so freely conveniently I think there’s a HMRC base in Southend?

Would the information she puts out there regarding her spending really affect her case?

 

[Bumbear]

omg you are !! Thank you for sharing your expertise step by step, who needs Southend police force with fraus like ours?!

HMRC are NOT kind to greedy little goblins and they see you spending your tax accruals as a pisstake cos it’s their money at the end of the day.

Yep - the late filing of the accounts + the lack of funds in the business bank account to pay the corporation tax due, could have red-flagged the business somewhere in the HMRC system (especially since it is year 1 of the business operations). I don't recall the % of businesses that fail in the first 1-5 years, but it's a lot, so when the tax hasn't been put aside and the accounts are late, that does not look good.

 

[Marmalade Atkins]

 

[Bumbear]

Would the information she puts out there regarding her spending really affect her case?

Only if she was investigated by HMRC (you can be investigated at any time). If she hadn't paid the corporation tax or VAT on time then they would be wanting to know why so much money was taken out of the business when it should have been set aside for tax first. I don't know the ins and outs as I live in fear of a tax investigation, so I'm scrupulous with my tax and my expenses etc.

 

[Alansbigplate]

Obviously I couldn't possibly comment for certain...but if we were to do the take home pay on £106k (in 2020 figures) and assuming she paid it to herself as PAYE (unlikely - her accountant will have advised her to pay most of it by dividends, but anyway, for ease of maths). That gives a take home after tax of £69k per annum, or £6k per month. I.e. in all likelihood a higher rate tax payer for that business year to March 2019.

I shall leave that hanging for people to digest...it's all there in the accounts on Companies House in the public domain.



Yes - the figures are from her micro accounts, filed publicly on Companies House - I have linked to the PDF in my first post.

 

[Switchstreetz]

omg you are !! Thank you for sharing your expertise step by step, who needs Southend police force with fraus like ours?!

HMRC are NOT kind to greedy little goblins and they see you spending your tax accruals as a pisstake cos it’s their money at the end of the day. If you’re late on payment they start taking estimations of future liabilities in advance, which obvs for a single person entity would be crippling. They’re also more likely to have a nosy on what exactly you’re putting through your expenses as wholly and exclusively for business use, can’t imagine Cotswolds Co will pass that one It’s not a position I’d ever want to be in tbh & if I was I certainly wouldn’t be posting pics up a very cushty lifestyle on Instagram or speaking of my Groucho membership so freely conveniently I think there’s a HMRC base in Southend?

Imagine a universe where in the plot twist of the century JM is taken to court for tax avoidance and we're the star witnesses with our screenshots of circled expensive items

"Your honour. As you can see the Givenchy necklace first appears chronologically in October 2020, see exhibit A, where despite attempts to protect its identity using the cartoon filter it is clearly identifiable. The fraus have chronicledfive further appearances of this necklace"

"Objection! I found that jewellery in a garden, i had to wrestle a fox for it and THAT FOX'S GRANDMOTHER IS DEAD!"

*a traumatised looking givenchy store assistant takes the stand*

"i just asked if she wanted to pay with cash or card, next thing i knew she was slamming fistfuls of rings and necklaces on the counter screaming 'Do you know who i am?! Are you aware of my work?!!!' Then she paid and told me to duck off."

I hope playback footage from the mirror will be admissible as evidence