Invoicing your own UK Ltd co as Autonomo?
Dec 15th 2020, 9:07 am
#31
Forum Regular
Joined: Mar 2020
Posts: 47
Re: Invoicing your own UK Ltd co as Autonomo?
We all try to avoid paying tax, but sometimes it is not worth the hassle and it is often easier just to abide by the rules.
I had many sleepless nights when my limited company was investigated. Fortunately I did not end up in the cell next to Lester Piggott. They found only one "irregularity". I had not declared a benefit in kind for using my mobile phone for personal calls.
I have often heard that a good accountant can save you more than his fee. IMHO this is an urban myth quoted only by accountants.
I had many sleepless nights when my limited company was investigated. Fortunately I did not end up in the cell next to Lester Piggott. They found only one "irregularity". I had not declared a benefit in kind for using my mobile phone for personal calls.
I have often heard that a good accountant can save you more than his fee. IMHO this is an urban myth quoted only by accountants.
My father got investigated once, he was a jobbing electrician and filed all his paperwork in a carrier bag in the front of his van. It was all fine, but the fact of being investigated certainly put the wind up him and he lost a lot of sleep for 9 months.
While I'm happy to be maximally tax efficient within the law, I don't object to paying tax. I've spent time in lawless places and the first thing you notice is that there's no security, no credit, and no possibility of doing significant trade if you're not the mafia. Being in a place where doing business is easy and secure is a privilege and there's an entry charge. There's a discussion to be had about the best level of tax, but that's a different matter, it is what it is. As they say in the US, 'You didn't build that!' And as they say in China 'paying tax is glorious' (though of course saying doesn't necessarily mean doing)!
