Paying tax

[Tarw Coch]

How far is your nearest bank. A click on the computer is far better than a 12 mile drive to Oswestry, pay to park., waste of time and money.
And saving the planet

Maybe if you’d supported the bank in Ellesmere more it would still be open.

Each to their own I say, modern technology gives choices to those who want to use it but I certainly don’t think it should be forced on anyone.

 

[had e nuff]

Cheques keep more people in a job so they have more money to buy our beef/lamb/milk

 

[Tarw Coch]

Cheques keep more people in a job so they have more money to buy our beef/lamb/milk

Whilst electronic banking and bank closures only benefit the fat cat bosses, I bet the ordinary bank clerks who still have jobs aren’t being payed any better because of it.

 

[Derrick Hughes]

I don't care how they pay as long as its money

 

[DRC]

Maybe if you’d supported the bank in Ellesmere more it would still be open.

Each to their own I say, modern technology gives choices to those who want to use it but I certainly don’t think it should be forced on anyone.

We did, when it was in Ellesmere. Could drop cheques in their post box when dropping children at school. Oswestry is another world

 

[nelson]

Which way do most pay,via bank online or HMRC website using debit card. Buying machinery you don't need is not a sensible way to save tax. Pay the 20% and save the 80%

what if your lucky enough to be paying 40% tax

 

[Still Farming]

what if your lucky enough to be paying 40% tax

You be registered off shore or abroad like all the money people allegedly???

 

[it's not over]

what if your lucky enough to be paying 40% tax

Get incorporated 19%

 

[Northeastfarmer]

Had to laugh last year when I was in the bank, was stood in a queue waiting to get to the desk when a woman from customer support came over and asked if I needed any assistance...I replied no as I wanted to transfer some money....she said if I downloaded the banking app and did online banking it would save me having to use the bank...to which I replied if everyone did that she’d be out of a job...she looked dumbfounded and said yes you’re right
Anyway I went home downloaded the app and started using internet banking

 

[carpenter1]

You can pay cheques in for most banks at the post office

 

[it's not over]

You can pay cheques in for most banks at the post office

Yes but you need the giro

 

[carpenter1]

Yes but you need the giro

I just put them in the bank paying in book. And hand over

 

[Rowland]

You be registered off shore or abroad like all the money people allegedly???

I’m not !!!

 

[The Agrarian]

Which way do most pay,via bank online or HMRC website using debit card. Buying machinery you don't need is not a sensible way to save tax. Pay the 20% and save the 80%

It's 29% if self employed, or 32% if you are an employee of your company.

Get incorporated 19%

But then it's not your money until you pay yourself.

 

[it's not over]

Basic wage plus dividend . If my sums are correct,I pay 6% on 2/3 of my salary. Without going into detail I can only be incorporated. The farming is less than half my profit

 

[The Agrarian]

Am I right to think the company pays 19% on the profit?

On this profit taken out as a dividend, you pay another 7.5% tax (above 2k)?

 

[it's not over]

Yes 19% flat rate on all profit. As far as I'm told the company pays no tax on the dividend but I pay about 6%. That's how it worked out.

 

[The Agrarian]

My reading of it is 7.5%. Perhaps you have been quoted an overall figure which includes the tax free allowance of what would have been £5k before 5th April 18? That could get you down to six pc.

For 18/19 it's a 2k allowance. Either way, the overall tax rate appears to be about 25% on the original pre-tax profit.