I don’t avoid tax I just evade tax
I don’t avoid tax I just evade taxOnly 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.
Not only that but, because it is self-edited, it is often incorrect. It can’t be relied on as a source for anything serious (particularly an academic source), and this is lesson no.1 for any student. But Jack is lazy and stupid, and she doesn’t give a stuff about the supposedly serious book she’s supposed to be writing.How can one be sure it isn't biased. Her standpoint on the elite is biased in my opinion she seems to really dislike them.
To write something political one has to address the issues yet remain neutral to appeal to the entire demographic.
Basically then if she has that tax bill and has paid it then she isn't down on her uppers in any way. Patreon etc.....and she says she pays two thirds of her income in rent.I would just like to be 100% clear that I am not saying she hasn't paid her tax bill - I do not want the Israeli lawyer onto me! I am sure it was paid in full during the 2019/20 business year and hopefully all the tax due for that year, has been put aside nicely in the business bank account. We shall see at some point in the next few months...
Although Louisa is tagged at the Cheval Edinburgh Grand in March 2019, so could’ve been there?This was while she was was in Edinburgh in Feb 2019. Louisa was with her but the photos were deleted (holding hands outside the castle). I reckon they were in the aparthotel on George Street that Jack went to during lockdown.
Mackie I have no greaseproof paper to line my baking tin .Will £50 notes do instead ?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?
The corporation tax bill will have had to be paid in full 9 months after the end of the tax year for that company - so by 31 December 2019. It will have been paid in full by now.Basically then if she has that tax bill and has paid it then she isn't down on her uppers in any way. Patreon etc.....and she says she pays two thirds of her income in rent.
That I don't believe ...4k in rent isn't believable. I do think she's paying up to 2k a month though. A bungalow in Thorpe Bay isn't going to be cheap to rent.
Not an accountant either but there's various ways she can do to reduce that old corp tax, such as contributing to her pension or various other legitimate means. And if shes got so little in her business bank account, as you say she must taken an awful lot of dividends/or salary, easily 100k minimum, that means another hefty bill for her personal self-assessment on top- easily £7k just for that one year... Her accountant definitely would have recommended NOT to do that and would have offered various other ways to reduce that tax bill. But of course I am sure she flung caution to the wind and spent a lot of it in Cotswolds shop.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 fuck off as I'm BUSY today.
The fact this is thinly veiled behind some apparent altruistic PSA is boiling my piss. She is not saying any of this shit to help anyone, she's just on another sadfishing expedition.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.
I reckon she did a bit of food consultancy but very little, if anything, of what she suggested was used. Because her specialty is inedible slop and that isn’t exactly sellable. Otherwise, her name would have appeared on menus or promotions for these places.She’s mentioned this consultancy work a couple of times, but not nearly as much as I’d have expected if it was a legit role
2019:
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2020:
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and she has had recent very wealthy partners, probably hasn't considered being careful with money for quite a few years now.Not an accountant either but there's various ways she can do to reduce that old corp tax, such as contributing to her pension or various other legitimate means. And if shes got so little in her business bank account, as you say she must taken an awful lot of dividends/or salary, easily 100k minimum, that means another hefty bill for her personal self-assessment on top- easily £7k just for that one year... Her accountant definitely would have recommended NOT to do that and would have offered various other ways to reduce that tax bill. But of course I am sure she flung caution to the wind and spent a lot of it in Cotswolds shop.
If you're going to be a company, you need to be wise about how you're spending your money. You can't just spend it all and expect the funtimes to continue. As a contractor myself, I have taken some dividends for the year but I have not spent any of it cos you can't expect people to continue your services forever even if you are legitimately competent, just have to prepare to have no funds coming in, esp with the pandemic. Lean times. Classic Mackie, no planning in any aspect of her life.
Absolutely xNot an accountant either but there's various ways she can do to reduce that old corp tax, such as contributing to her pension or various other legitimate means. And if shes got so little in her business bank account, as you say she must taken an awful lot of dividends/or salary, easily 100k minimum, that means another hefty bill for her personal self-assessment on top- easily £7k just for that one year... Her accountant definitely would have recommended NOT to do that and would have offered various other ways to reduce that tax bill. But of course I am sure she flung caution to the wind and spent a lot of it in Cotswolds shop.
C-c-c-cleaning hacks???? Start off with emptying your bin, giving it a good scrub (and sort out your piggin’ mitts while you’re at it) and then attacking the crud on your hob before giving domestic advice to anyone you plonker.View attachment 255828
People are still offering her things and she’s ever so sanctimoniously telling them to give them away and she would hate to think of things going to her instead of others.
Thread title #finding BurberryONE OF THE BIGGEST STORIES OF OUR TIME..... FINDING BURBERRY
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