>>> I certainly wouldn't. But then, if I were going to do just PMing,
>>> I'd do it contracting, not permie.
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>
> As far as I know, he pays no tax whatsoever.

Signature
Hog
'03 ST4S '96 Bastard12 '89 R100RS '81 XS650 '78 RD400
> > we have a contractor here who "works" for a company based on the
> > Island, for no salary. They have a sister company who issues him
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> #10500 and a higher rate of 18%. There are no capital gains taxes
> for individuals.
I really, really wish they'd scrap CGT here. It's far & away the most
complex part of our software, & I'm sick to death of having to spend
months re-coding it every time they change the bloody rules. I dread to
think how much it costs software houses to keep up with the latest
legislative tinkering.

Signature
Krusty
www.MuddyStuff.co.uk
Off-Road Classifieds
'02 MV Senna '03 Tiger 955i '96 Tiger '79 Fantic Hiro 250
ST - 30 Jan 2008 18:25 GMT
> > > we have a contractor here who "works" for a company based on the
> > > Island, for no salary. They have a sister company who issues him
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> think how much it costs software houses to keep up with the latest
> legislative tinkering.
I have to agree with this. I do my own lettings accounts which takes
me a fair amount of time, even though every receipt for renewals/
repairs is logged when the expenditure occurs. I understand how the
tax works on this and is quite straightforward. Every year I get the
accountant to calculate the Capital Gains tax I pay on sold properties
and every time he and I get wildly differing results (thankfully his
are always lower - by over 3k this year). There is always an
allowance I did not know about or some arcane rule.
The changes due next year look interesting however once the treasury
get wind of how much will be lost to them (mostly from private
landlords) they will change their minds, probably at the very last
minute. You only have to look at the recent fuckup of (residential)
property in pensions. I suspect again it will be a huge waste of
money and time.
Simian - 30 Jan 2008 19:40 GMT
> I really, really wish they'd scrap CGT here. It's far & away the most
> complex part of our software, & I'm sick to death of having to spend
> months re-coding it every time they change the bloody rules. I dread
> to think how much it costs software houses to keep up with the latest
> legislative tinkering.
I feel exactly the same way about daylight saving, even though I don't
have to do that sort of thing anymore, which is nice.
ginge - 30 Jan 2008 19:44 GMT
> I really, really wish they'd scrap CGT here. It's far & away the most
> complex part of our software, & I'm sick to death of having to spend
> months re-coding it every time they change the bloody rules. I dread to
> think how much it costs software houses to keep up with the latest
> legislative tinkering.
Less than it costs the customers to buy the upgrades, IWHT.