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"Making profit and being competitive are two different things. It's what you do with tax saving that will make the difference to your competitiveness.... however reinvesting profits back into making things more competitive in your business was never taxed anyhow!. There's a fine line between tax cuts for the sake of tax cuts and tax cuts that make a difference to the majority " I'm no tax or business expert. I don't claim to be, however my point is, is it now time to start competing against the EU to make this country more attractive to business? To be honest, at least he's looking to do something rather than looking in and letting the country just sink into a malaise. | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities." I agree  | |||
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"Making profit and being competitive are two different things. It's what you do with tax saving that will make the difference to your competitiveness.... however reinvesting profits back into making things more competitive in your business was never taxed anyhow!. There's a fine line between tax cuts for the sake of tax cuts and tax cuts that make a difference to the majority I'm no tax or business expert. I don't claim to be, however my point is, is it now time to start competing against the EU to make this country more attractive to business? To be honest, at least he's looking to do something rather than looking in and letting the country just sink into a malaise. " . We already have one of, if not the cheapest CT tax in Europe. What business wants is decent infrastructure, roads, rail, buses trams , preferably with sensible linking, running times, reasonable and reliable electricity, gas and water supplies, an educated workforce that can afford to buy a friggin house with what they pay them, or at the very least rent a flat, decent healthcare for their employees and honestly... sensible h&s laws, I've worked in the building industry for long enough to see it go from balancing on two planks to full scaffolding with harness's if your above 6ft, hard hats despite having nothing above you to fall on you, yellow jackets, despite working in a flood lit shop front, pat testing kettle leads etc etc etc, quite frankly regulation has become a giant industry that's pushing for regulation despite evidence to the contrary!. . One sensible old person with a cardie and a pair of slippers could run the country better than the crap we've had for the last forty years. If we ever manage half of what I've just said, you'll be made away with business trying to get in! | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree ". That money was never liable for CT tax anyhow. CT tax is paid on PROFIT. THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING | |||
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"Making profit and being competitive are two different things. It's what you do with tax saving that will make the difference to your competitiveness.... however reinvesting profits back into making things more competitive in your business was never taxed anyhow!. There's a fine line between tax cuts for the sake of tax cuts and tax cuts that make a difference to the majority I'm no tax or business expert. I don't claim to be, however my point is, is it now time to start competing against the EU to make this country more attractive to business? To be honest, at least he's looking to do something rather than looking in and letting the country just sink into a malaise. . We already have one of, if not the cheapest CT tax in Europe. What business wants is decent infrastructure, roads, rail, buses trams , preferably with sensible linking, running times, reasonable and reliable electricity, gas and water supplies, an educated workforce that can afford to buy a friggin house with what they pay them, or at the very least rent a flat, decent healthcare for their employees and honestly... sensible h&s laws, I've worked in the building industry for long enough to see it go from balancing on two planks to full scaffolding with harness's if your above 6ft, hard hats despite having nothing above you to fall on you, yellow jackets, despite working in a flood lit shop front, pat testing kettle leads etc etc etc, quite frankly regulation has become a giant industry that's pushing for regulation despite evidence to the contrary!. . One sensible old person with a cardie and a pair of slippers could run the country better than the crap we've had for the last forty years. If we ever manage half of what I've just said, you'll be made away with business trying to get in!" Excellent points | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING "Yes...and no need to shout...but if the tax man takes less we have more left to invest...simples. | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
Yes...and no need to shout...but if the tax man takes less we have more left to invest...simples."No, you have more to distribute in dividends. | |||
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"I know threads go off on a tangent but my question is more that pre brexit talks, should we be aggressively competing with EU members? Personally I think we should." the uk competing with the eu would be like me stepping into the right with Antony Joshua there's only gona be one winner .. | |||
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"Making profit and being competitive are two different things. It's what you do with tax saving that will make the difference to your competitiveness.... however reinvesting profits back into making things more competitive in your business was never taxed anyhow!. There's a fine line between tax cuts for the sake of tax cuts and tax cuts that make a difference to the majority I'm no tax or business expert. I don't claim to be, however my point is, is it now time to start competing against the EU to make this country more attractive to business? To be honest, at least he's looking to do something rather than looking in and letting the country just sink into a malaise. . We already have one of, if not the cheapest CT tax in Europe. What business wants is decent infrastructure, roads, rail, buses trams , preferably with sensible linking, running times, reasonable and reliable electricity, gas and water supplies, an educated workforce that can afford to buy a friggin house with what they pay them, or at the very least rent a flat, decent healthcare for their employees and honestly... sensible h&s laws, I've worked in the building industry for long enough to see it go from balancing on two planks to full scaffolding with harness's if your above 6ft, hard hats despite having nothing above you to fall on you, yellow jackets, despite working in a flood lit shop front, pat testing kettle leads etc etc etc, quite frankly regulation has become a giant industry that's pushing for regulation despite evidence to the contrary!. . One sensible old person with a cardie and a pair of slippers could run the country better than the crap we've had for the last forty years. If we ever manage half of what I've just said, you'll be made away with business trying to get in!" | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING "No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends | |||
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"I know threads go off on a tangent but my question is more that pre brexit talks, should we be aggressively competing with EU members? Personally I think we should. the uk competing with the eu would be like me stepping into the right with Antony Joshua there's only gona be one winner .." Well seeing as we have created more jobs in the last seven years than the whole EU we will wipe the floor with them when we are free from the suffocating malaise that having 28 countries to agree before anything can be done brings. | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends "Run that by me again? On a profit and loss account, things like product development, depreciation and amortisation are deducted before profit is calculated. If you 'invested' more in these then you profit would be lower to start with. Are you talking about limits on tax relief spend on R&D? | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends
Run that by me again? On a profit and loss account, things like product development, depreciation and amortisation are deducted before profit is calculated. If you 'invested' more in these then you profit would be lower to start with. Are you talking about limits on tax relief spend on R&D? "A profit and loss account is very different to a tax return account,depreciation isnt allowed for tax purposes,instead expenditure on equipment is via annual investment allowance, up to £200,000 this year then the WDA takes up the rest, some at 18% some 8% R&D is covered by the 18%, cars are different again,there is no allowance for buildings,land or goodwill, leased equipment cost is accounted for in the profit and loss tax account as opposed to the capital side. Its a subtle difference between a profit and loss account and a tax account. | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends
Run that by me again? On a profit and loss account, things like product development, depreciation and amortisation are deducted before profit is calculated. If you 'invested' more in these then you profit would be lower to start with. Are you talking about limits on tax relief spend on R&D?
A profit and loss account is very different to a tax return account,depreciation isnt allowed for tax purposes,instead expenditure on equipment is via annual investment allowance, up to £200,000 this year then the WDA takes up the rest, some at 18% some 8% R&D is covered by the 18%, cars are different again,there is no allowance for buildings,land or goodwill, leased equipment cost is accounted for in the profit and loss tax account as opposed to the capital side. Its a subtle difference between a profit and loss account and a tax account. "But with figures like £200k you're talking about an impact on small businesses right (not that there's anything wrong with that) | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends
Run that by me again? On a profit and loss account, things like product development, depreciation and amortisation are deducted before profit is calculated. If you 'invested' more in these then you profit would be lower to start with. Are you talking about limits on tax relief spend on R&D?
A profit and loss account is very different to a tax return account,depreciation isnt allowed for tax purposes,instead expenditure on equipment is via annual investment allowance, up to £200,000 this year then the WDA takes up the rest, some at 18% some 8% R&D is covered by the 18%, cars are different again,there is no allowance for buildings,land or goodwill, leased equipment cost is accounted for in the profit and loss tax account as opposed to the capital side. Its a subtle difference between a profit and loss account and a tax account.
But with figures like £200k you're talking about an impact on small businesses right (not that there's anything wrong with that) "£200,000 is a fair chunk for a small business to invest but some capital hungry businesses do that most years | |||
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"I welcome this. It should allow me to invest the savings back into the business. Thus providing further employment opportunities. I agree .
That money was never liable for CT tax anyhow.
CT tax is paid on PROFIT.
THAT'S THE AMOUNT LEFT OVER AFTER REINVESTING
No its not, the annual investment allowance for this year is £200,000 which you can deduct from your profit if its above that level, any other investment comes after tax is paid so reducing CT will leave more profit to invest or raise dividends
Run that by me again? On a profit and loss account, things like product development, depreciation and amortisation are deducted before profit is calculated. If you 'invested' more in these then you profit would be lower to start with. Are you talking about limits on tax relief spend on R&D?
A profit and loss account is very different to a tax return account,depreciation isnt allowed for tax purposes,instead expenditure on equipment is via annual investment allowance, up to £200,000 this year then the WDA takes up the rest, some at 18% some 8% R&D is covered by the 18%, cars are different again,there is no allowance for buildings,land or goodwill, leased equipment cost is accounted for in the profit and loss tax account as opposed to the capital side. Its a subtle difference between a profit and loss account and a tax account.
But with figures like £200k you're talking about an impact on small businesses right (not that there's anything wrong with that)
£200,000 is a fair chunk for a small business to invest but some capital hungry businesses do that most years "Absolutely, hence why I'm not knocking it at all. But for a large company it's a rounding error | |||
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