£1000 for a cooling fan? WTF!
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It is a tax dodge. A company owner buys a £1 fan and advertises it on ebay for £1000. His company buys it for £1000, making him a profit of £999. This reduces the profit of the company so reducing the tax payable.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^]
But Shirley he'd have to declare the £999 capital gains...
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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The cooling fan in the PSU of my desktop PC has gone on the fritz, causing the PC to shut down as the PSU overheats. Being a tinkerer and tending towards the green side, I thought I'd buy and fit a replacement 40mm fan from eBay, rather than shelling out for a whole new PSU. (Yes, I know there are some serious capacitors in PSU's - I'll wear rubber gloves) I found some from China at £1 or less, with free postage. I don't know how they can make money on these, but that's their problem, but I have splashed out £1.75 to get one from the UK I also found this one[^] - £999.85, though they do offer free postage as well. At that price I would want it personally delivered by a scantily clad maiden!
==================================== Transvestites - Roberts in Disguise! ====================================
Surely that has to be an error? if you Google the fan you can get it for as little as £5.00 from Amazon
Lobster Thermidor aux crevettes with a Mornay sauce, served in a Provençale manner with shallots and aubergines, garnished with truffle pate, brandy and a fried egg on top and Spam - Monty Python Spam Sketch
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But Shirley he'd have to declare the £999 capital gains...
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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Surely that has to be an error? if you Google the fan you can get it for as little as £5.00 from Amazon
Lobster Thermidor aux crevettes with a Mornay sauce, served in a Provençale manner with shallots and aubergines, garnished with truffle pate, brandy and a fried egg on top and Spam - Monty Python Spam Sketch
See Above. It is a well known trick and HMRC do look into things like this. I have a friend who is rather high up in the HMRC and he sees all sorts of dodges.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^]
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The cooling fan in the PSU of my desktop PC has gone on the fritz, causing the PC to shut down as the PSU overheats. Being a tinkerer and tending towards the green side, I thought I'd buy and fit a replacement 40mm fan from eBay, rather than shelling out for a whole new PSU. (Yes, I know there are some serious capacitors in PSU's - I'll wear rubber gloves) I found some from China at £1 or less, with free postage. I don't know how they can make money on these, but that's their problem, but I have splashed out £1.75 to get one from the UK I also found this one[^] - £999.85, though they do offer free postage as well. At that price I would want it personally delivered by a scantily clad maiden!
==================================== Transvestites - Roberts in Disguise! ====================================
bugger "a scantily"; I'd want "several un"
I wanna be a eunuchs developer! Pass me a bread knife!
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Surely that has to be an error? if you Google the fan you can get it for as little as £5.00 from Amazon
Lobster Thermidor aux crevettes with a Mornay sauce, served in a Provençale manner with shallots and aubergines, garnished with truffle pate, brandy and a fried egg on top and Spam - Monty Python Spam Sketch
... as you can on eBay
==================================== Transvestites - Roberts in Disguise! ====================================
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bugger "a scantily"; I'd want "several un"
I wanna be a eunuchs developer! Pass me a bread knife!
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See Above. It is a well known trick and HMRC do look into things like this. I have a friend who is rather high up in the HMRC and he sees all sorts of dodges.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^]
Then point him at this e-bay entry before it goes away, hiding the 189,000 that has been laundered. How much do you want to bet that this particular capitalist is a tory?
I wanna be a eunuchs developer! Pass me a bread knife!
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It is a tax dodge. A company owner buys a £1 fan and advertises it on ebay for £1000. His company buys it for £1000, making him a profit of £999. This reduces the profit of the company so reducing the tax payable.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^]
I'll buy it myself. That will fuck them over.
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Then point him at this e-bay entry before it goes away, hiding the 189,000 that has been laundered. How much do you want to bet that this particular capitalist is a tory?
I wanna be a eunuchs developer! Pass me a bread knife!
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But Shirley he'd have to declare the £999 capital gains...
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
It is a bit more complicated. Let's say Company 1 and 2 are in the same holding. Company 1, in Bahamas, buys a 1€ fan and sells it for 1000€. They make a 999€ profit, which is not taxed (remember, Bahamas). Company 2, in France, buys a 1000€ fan, which it can resell for, let's say, 5€. This company makes a 995€ loss, on which it does not pay taxes. The holding, on this transaction, makes a -1-1000+1000+5 = 4€ tax-free profit. Scale that to 1 million fans, and you have made a 4 million profit without paying any tax. This is how tax havens work.
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Do not feed the troll ! - Common proverb
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It is a bit more complicated. Let's say Company 1 and 2 are in the same holding. Company 1, in Bahamas, buys a 1€ fan and sells it for 1000€. They make a 999€ profit, which is not taxed (remember, Bahamas). Company 2, in France, buys a 1000€ fan, which it can resell for, let's say, 5€. This company makes a 995€ loss, on which it does not pay taxes. The holding, on this transaction, makes a -1-1000+1000+5 = 4€ tax-free profit. Scale that to 1 million fans, and you have made a 4 million profit without paying any tax. This is how tax havens work.
~RaGE();
I think words like 'destiny' are a way of trying to find order where none exists. - Christian Graus Do not feed the troll ! - Common proverb