"Card reader broken" tax dodgers?

[Funk]

You mean there's something fishy about him?

He's clearly a sole trader.

Seriously, many of you are in or approaching your retirement, likely had it good and exploited your share of 'public services' over the years.

I am subjected to around £16000+ in income tax a year, can't get an NHS appointment, the police are more interested in how fast I (or you) is going rather than someone threatening me for parking my car near their home ... although I should be grateful as I did get £400 discount on my energy bills and got £20 off my food bill during the eat out to help out scheme ...

Any small local business still operating in your part of the country should be applauded, they are not the cause of the economic problems here, to think otherwise is utter gammon mentality.

I feel your PAYE pain; HMRC relieved me of £27k in tax and NI last tax year. As PAYE we don't have any mitigation tools other than paying some more into a pension, really. Irony is I don't really use any of the public services that those taxes pay for - never been hospitalised, no kids in school etc.

It pisses me off when I'm paying so much and others are evading paying their share.

 

[chartz]

No problems where I live. I’m now used to paying with my Apple Watch; even as little as one euro - a croissant or a baguette – is fine.

 

[matt j]

Whilst I don't condone tax dodging, it's hard to blame small businesses for it if that's what they're doing to keep their head above water.

More so given the example set by the shenanigans of big business - and it's an absolute stone cold cop-out to fob it off with "oh well it's too much effort and cost to drag Megacorp through the courts for the tax they owe, much easier to hunt down Dave the brickie and see if he is doing any cash in hand jobs".

 

[Davd]

as stated earlier card transaction fees paid by the retailer/business could be one area the retailer is trying to cut in the current cost of living crisis, especially if multiple small value transactions in a days trading-they soon add up

 

[Ponty]

Whilst I don't condone tax dodging, it's hard to blame small businesses for it if that's what they're doing to keep their head above water.

More so given the example set by the shenanigans of big business - and it's an absolute stone cold cop-out to fob it off with "oh well it's too much effort and cost to drag Megacorp through the courts for the tax they owe, much easier to hunt down Dave the brickie and see if he is doing any cash in hand jobs".

No point dragging Megacorp through courts because they won’t owe any tax. They’ll be paying every penny and cent they are legally obligated to. Nothing more, nothing less.

 

[Sue Pertwee-Tyr]

No point dragging Megacorp through courts because they won’t owe any tax. They’ll be paying every penny and cent they are legally obligated to. Nothing more, nothing less.

Probably. But don’t you think the sort of (legal but unethical) tax dodges they use should be removed so they pay a fairer share?

 

[Ponty]

Probably. But don’t you think the sort of (legal but unethical) tax dodges they use should be removed so they pay a fairer share?

What’s a fairer share? Centrica are paying 75%. I’d call that unethical. Corp tax is increasing to 25% yet it’s half that in Ireland. Is that ‘fair‘ on UK companies? As someone without a public sector pension, I need UK companies to make strong profits and to distribute them to shareholders, my retirement depends on it, along with millions of others.

 

[mikeyb]

If the Govt have their way you'll be dead before then anyway

 

[matt j]

What’s a fairer share? Centrica are paying 75%. I’d call that unethical. Corp tax is increasing to 25% yet it’s half that in Ireland. Is that ‘fair‘ on UK companies? As someone without a public sector pension, I need UK companies to make strong profits and to distribute them to shareholders, my retirement depends on it, along with millions of others.

I'd call Centrica making record profits off the back of an "energy crisis" unethical.

 

[BTC3]

You're right, I am making an unfounded link between those rejecting all electronic payment on a permanent basis and those dodging tax. Its just that with banks charging businesses for cash*

* Lloyds charge businesses 1% up to the first £1500 per month and 0.9% thereafter for cash deposits.

The banking system payment processors take between 1% and 2.6% of every transaction value, regardless of the amount. Stripe, SumUp and the like can take up to 5%. On which basis, cash is not that bad an option. There’s an analogy to the taxi hailing apps: they can take 15% - 20% of the fare, but as people get used to using them instead of calling their local cab firm or walking out into the street to look for a cab, they become the norm.
Many retailers eschew cash because the bank branches where they’d take it are closing down. Walking to a night safe or a branch that’s 5mins along the high street is one thing. Driving to the next town is another entirely. If you’re running the store on your own, the mathematics of being away from the shop like that, and/or keeping the cash for a weekly trip, are the wrong way around. It also means the public have less access to cash (fewer atms) so need to use cards/phones to pay, which is where the charges for process cash under a value of (eg) £1500 come in.

 

[Ponty]

I'd call Centrica making record profits off the back of an "energy crisis" unethical.

They sell their product at market value. If the market value is at record levels, I’d be shocked if their profits weren’t also at record levels. They’re taxed at 75%. What should it be? Would you subsidise them when market values are at record lows and they’re loss making?

 

[matt j]

They sell their product at market value. If the market value is at record levels, I’d be shocked if their profits weren’t also at record levels. They’re taxed at 75%. What should it be? Would you subsidise them when market values are at record lows and they’re loss making?

How have they made record profits if the cost to them has also gone up, unless they're massively marking it up and taking advantage of the situation. Why weren't they massively marking it up when costs were relatively low over the past 10+ years? Sounds like a load of bull shit to me.

If they're making a loss then they're not doing it right. Maybe instead of paying out massive dividends at every turn and giving out bonuses to people constantly failing upwards they should concentrate on making a stable business model that isn't boom or bust.

 

[Sue Pertwee-Tyr]

I'd call Centrica making record profits off the back of an "energy crisis" unethical.

I don’t blame Centrica for the position they find themselves in. They’re between the rock of global gas prices, and the hard place of competition law preventing them selling below market value (AIUI). But equally I don’t think a very large windfall tax is inappropriate, let alone unethical. Those who seek to give the impression that the situation is somehow proof of the unfair nature of corporate taxation are, to my mind, being knowingly disingenuous.

 

[Ponty]

Because businesses have fixed costs. When the market value of their product rises, the proportion of those fixed costs become a smaller % of the price and so their profit rises. Vice versa when market prices fall.

 

[matt j]

Because businesses have fixed costs. When the market value of their product rises, the proportion of those fixed costs become a smaller % of the price and so their profit rises. Vice versa when market prices fall.

In that case then they should invoke the Tory mantra of 'fixing the roof when the sun is shining' so that record profit years go towards helping the years they make a loss.

 

[Sue Pertwee-Tyr]

Because businesses have fixed costs. When the market value of their product rises, the proportion of those fixed costs become a smaller % of the price and so their profit rises. Vice versa when market prices fall.

And the appropriate thing is to put away some ‘fat’ to support the business in lean times when the market price is less than profitable. Instead, they pay out large dividends and bonuses. And then look for subsidies and bailouts from government.

And anyway, given the trend, and dwindling reserves, I don’t see the market price dropping below ‘very profitable’ let alone ‘break even’ in the foreseeable future.

 

[matt j]

I think it is pretty obvious "temporary measures" never end up being anything other than permanent. We'll never go back to how things were with the cost of anything, there will never be cheap houses, cheap energy, cheap petrol or cheap food ever again. In ten years we'll look back at todays prices as though stuff was cheap.

 

[Ponty]

In that case then they should invoke the Tory mantra of 'fixing the roof when the sun is shining' so that record profit years go towards helping the years they make a loss.

Don’t disagree. I’d have let RBS go under. No public bails outs for private companies.

 

[Ponty]

I think it is pretty obvious "temporary measures" never end up being anything other than permanent. We'll never go back to how things were with the cost of anything, there will never be cheap houses, cheap energy, cheap petrol or cheap food ever again. In ten years we'll look back at todays prices as though stuff was cheap.

Again, don’t disagree. Whenever I’ve bought houses I felt they were a bloody fortune. They can’t ever be ‘cheap’, they cost a king’s ransom to build. As for cars….! Of course, if the price of everything comes crashing down, so too will wages.

 

[Woodface]

How have they made record profits if the cost to them has also gone up, unless they're massively marking it up and taking advantage of the situation. Why weren't they massively marking it up when costs were relatively low over the past 10+ years? Sounds like a load of bull shit to me.

If they're making a loss then they're not doing it right. Maybe instead of paying out massive dividends at every turn and giving out bonuses to people constantly failing upwards they should concentrate on making a stable business model that isn't boom or bust.

Energy market is heavily regulated, it’s not quite as simple as people believe. Oil is also a cartel. It’s a balancing act, can’t really tax them at 100%. I think Labour are campaigning to put it up to 78%.