[IP2]

Originally Posted by boxby

It's only worse as it's a director because that's the favourite revenue's "in". They know that most directors have BIKs. That no-one understands the rules, and that when they find some undeclared ones they get intererst & penalties, tax & double NIC! So it's easy and profitable, and they get paid on commission!

And then it means that there are errors in the accounts so they pass it onto their buddies who do an aspect enquiry into the corpn tax/SA..........

And then they pass it onto their buddies in the VAT section.

There are many many companies who have had months of dealing with revenue letters and enquries, mostly for petty amounts, and all because of an undeclated BIK to a director.........

That is a fair point Sandra!

[Peter W]

Originally Posted by RayB

They sure are - in fact I've just reduced my basic wage to £5,000 PA and converted the rest to dividends (there was a reason for not doing this before) - and i'll increase the current gross total by the extra costs of the flat

You could increase your basic wage to £6,000 following the latest U-turn from the government.

[IP2]

Originally Posted by Peter W

You could increase your basic wage to £6,000 following the latest U-turn from the government.

Been so tied up the last few weeks, do you have a link to that change?

[Peter W]

They are putting up the personal allowance by £600. It is the main story in today's news. £5,435 + £600 = £6,035.

[RayB]

Originally Posted by Peter W

You could increase your basic wage to £6,000 following the latest U-turn from the government.

Based on todays news, that's what I'll do

[boxby]

A u-turn without turning!!