Robin Barstewards !!

Discussion in 'Motorhome Chat' started by Soaringman, Jan 28, 2014.

  1. Soaringman

    Soaringman Funster

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    So after buying a run down hotel/guest house in Windermere 12 years Go and then spending every hour we had working to make it into the successful business it ended up to be, the Tax Man has finally knocked on the door:Angry:

    So we turned the business around and ended up employing 3 local people who paid their taxes. We paid all of our business rates and 20% vat on every bed we sold plus if we made a profit we paid our dues on that too.

    So when we sold the business after working so hard and investing everything we had, do the government feel they should take a big chunk called Capital gains tax!!!!!
    The amount was almost as much as we spent buying our Motorhome last year:cry:
    That money was going to help us through retirement as we have no pensions. So sod you government we are going to spend what we have and when we run out, we will sponge the rest back in benefits, if we live that long :thumb:
     
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  2. Jim

    Jim Ringleader

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    I feel your pain and sense of injustice. It really is a horrible tax, I hope you took advice though and maximized any cg relief, such as entrepreneurs etc But don't dwell, just enjoy that retirement :thumb:
     
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  3. eddievanbitz

    eddievanbitz Trader - Funster

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    It is an insidious tax!

    It is born from the mother of all taxes raising criteria, the power envy!

    There is no justifiable reason to tax peoples business's.

    I also disagree with taxing peoples savings. Some get money and p155 it up against the wall, some don't bother to earn money, some can't earn money, some earn money and spend it all, some work two or three jobs, spend some and save some.

    So why should the tax man expect to tax the interest on the money that has been saved to give it to the ones that can't be arsed?

    Does annoy me.

    What percentage did they levy on you?

    :Angry:
     
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  4. MikeD

    MikeD Funster

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    The tax that has always got my goat is Death Duties/ Inheritance tax :Eeek::Eeek:
     
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  5. busby

    busby Funster

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    The very very rich find a way not to pay this...BUSBY:BigGrin:
     
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  6. Forestboy

    Forestboy Funster Life Member

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    The tax of envy how dare you work hard take a chance and succeed.

    This highlights the benefit of a good accountant and forward tax planning its always money well spent. When we had our business the plan was always to cash it in so we planned ahead for that day had good pension plans and minimised our tax liability on the sale. We always paid our tax and vat on time had a good pension scheme for our workforce and paid well over minimum wage but I was buggered if was going to give the government all the profit of 35 years work as well so planned ahead.

    Never mind Labour will be in power soon then it'll get better :Rofl1: :Rofl1:
     
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  7. Brian and Jo

    Brian and Jo Funster Life Member

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    tax

    ohhhhhhhhhh!!!!!!!!! dont start me off about HMRC and our wonderful contries taxation system:Angry::cry:
    brian
     
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  8. Soaringman

    Soaringman Funster

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    Eddie
    I did have an accountant who minimised what we eventually paid out, but not being one of the rich rich, my accountant was honest:Doh:
    I think we paid what is called entrepreneurs relief, however how they came up with that amount is beyond me.

    The annoying thing is, that money would have gone back into the economy eventually as it would have been spent by me. Now it is going to pay for some scroungers fags :Angry:
     
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  9. Soaringman

    Soaringman Funster

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    I meant one of the rich, not rich rich:Doh:

    Got enough to get by without benefits.
    Not as much as a retired civil servant or fireman though:Wink:
     
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  10. hdvrod

    hdvrod Read Only Funster

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    Its so easy to get bitter and twisted on the injustices of our tax system,I have a Military pension earned from 32 years service,but I am not allowed to claim any relief on it as it is a military pension so have to pay the full whack of 20% on the whole amount,on top of that because I am in receipt of it I lose out on a potential £70 a week top up on my state pension.Could get p*** me off but lives too short:Smile:
     
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  11. Brian and Jo

    Brian and Jo Funster Life Member

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    tax

    yep your right it doesnt pay to dwell on it but it is so annoying.
    brian
     
  12. Forestboy

    Forestboy Funster Life Member

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    Yeah could be worse you could be one of those poor buggers that only get £500 quid a week for lying in bed hardly pays for their fags n booze. :Rofl1::Rofl1:
     
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  13. Brian and Jo

    Brian and Jo Funster Life Member

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    TAX

    you carry on like that Rory and be getting me soap box out again.:shout:
    brian
     
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  14. Larrynwin

    Larrynwin Funster

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    :Eeek::Eeek: I was enjoying my trip to Spain until I read this thread:Eeek::Eeek:

    You are right , robbing barstewards :Eeek:

    Could have sat on my arse all my life :Doh:
     
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  15. voyagerstan

    voyagerstan Read Only Funster

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    hapened to me 20 years ago . after that i swore it would not hapen again sold everthing lived in van (still in van) and would only work for cash now have more than ive ever had and enjoying life to the full . :driving2: good luck from sunny maroc . stan
     
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  16. Gromett

    Gromett Funster

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    I also got stung by the taxman and the banks. So when I went fulltiming I decided to keep my income below the VAT threshold and my personal income within the personal allowance. That said I am grateful that the government has increased the personal allowance.

    The only tax I pay now is corporation tax and I am going to keep it that way. I will never employ anyone ever again because they just punish you for doing that.

    They did me over good and because of that they have taken away all my incentive to work hard and pay more tax.

    I am now a very lazy fulltimer just working enough to keep myself in necessities.

    Because of their greed and overly complex rules, I am 42 with almost another 30 years productive tax revenue possible. They will get nowt off me that I can help it.

    If they simplified the system so that any regular person could understand it they would get far more in total in my view.
     
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  17. StitchUp

    StitchUp Read Only Funster

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    You should have taken a leaf from our 'Government Minister's Book' and 'flipped' it as your primary residence ........

    Bastards :Doh:
     
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  18. Soaringman

    Soaringman Funster

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    It was my primary residence:Eek!:
     
  19. wasp

    wasp Funster

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    Can you not claim any of the repairs and alterations against the tax, my pal just sold a house he was renting out and he claimed every penny he spent, offset against CG, he gets a tax free sum and also his wife and they pay tax on the rest after they deducted the original price of the house.
     
  20. Soaringman

    Soaringman Funster

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    Yes did all that, over the 10 years we spent over £500,000 on it :Eeek:
    Still had a big tax bill
     

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