Credit deflation and the reflation cycle to come (part 8)

[Pip321]

6 minutes ago, darkmarket said:

Big moves across the curve and Sterling smacked back down to a 125 handle, Euro being heavily sold as well.

The time when politically unpopular measures are needed to defend currencies is nigh.

Gold dipping too....still over $2000, just. 

I think its about time I ladder into those PM miners......snorkel on, I might be going in. 😂

[Bobthebuilder]

12 minutes ago, Pip321 said:

snorkel on, I might be going in

A snorkel will not be enough, you are going to need some SCUBA gear and a dry suit.

Edited February 13 by Bobthebuilder

[MrXxxx]

1 hour ago, goldbug9999 said:

Operating any business involves difficult to quantify risks of various sort of run in with HMRC, everybody running a business needs insurance against this - what is so fucking difficult to grasp about this ?.

Can you two please take this up to the other forums...I come 'down' here to get away from the bitchyness, rudeness and expletives, knowing that I will get reasoned [and courteous] argument.

[leonardratso]

that damn cpi has fookd my massive leveraged bet;

\

[nirvana]

20 minutes ago, darkmarket said:

Big moves across the curve and Sterling smacked back down to a 125 handle, Euro being heavily sold as well.

The time when politically unpopular measures are needed to defend currencies is nigh.

UJ up above the 150 handle too.....$ not dead yet despite what the experts say

[AWW]

13 hours ago, goldbug9999 said:

Contracting is a business and you should therefore have appropriate insurances.

Do you know any insurer that will provide cover against retrospective legislative changes? I don't.

All I wanted to do was pay salary up to the NI threshold, then divi everything else. Not illegal and no chance of becoming illegal. That particular approach is now closed off for most due to IR35.

I've not much sympathy for anyone who joined a scheme that used written-off loans, or loans in synthetic currency that was then devalued, who then found HMRC come knocking. Those schemes resulted in 97% take-home and were quite obviously going to be sunk at some point, with a non-trivial risk of the legislation being retrospective, which it was. We've had retrospective tax legislation since the 70s, it's not like there wasn't precedent. Unfortunately, the fix is to vastly simplify the tax code, which isn't going to happen.

[nirvana]

18 minutes ago, montecristo said:

Any recommendations?  I'm striking off my Ltd this year.  Knowing my luck HMRC will trigger an investigation just before.

ignore the fukkers, what can they do......

[AWW]

20 minutes ago, montecristo said:

Any recommendations?  I'm striking off my Ltd this year.  Knowing my luck HMRC will trigger an investigation just before.

How much cash is in the bank? You might be better off with a MVL rather than a strike-off.

[nirvana]

21 minutes ago, Pip321 said:

Gold dipping too....still over $2000, just. 

I think its about time I ladder into those PM miners......snorkel on, I might be going in. 😂

bulls will defend 2k..........i'd say that dip was probs 'worth a buy' but with a tight stop loss......

as always, depends on yer deep pockets and yer timescales

bon courage comrade

[nirvana]

Gold 1999 party

 

[nirvana]

bears have it at the moment

 

[leonardratso]

but its dead cat bouncing

 

 

EDIt ; 10 mins later dead hahaha, my lifes savings pissed away in under 30 minutes.
I had a good time. Adios cruel world.

Edited February 13 by leonardratso

[nirvana]

Gold is going lower I'd say....found a great gif lmao

 

[montecristo]

29 minutes ago, AWW said:

How much cash is in the bank? You might be better off with a MVL rather than a strike-off.

about £2k  a couple more invoices to send so plan to have around £6k after SIPP contributions.  Just enough for accountants fee and corp tax.

32 minutes ago, nirvana said:

ignore the fukkers, what can they do......

bankrupt you if you don't pay.

[nirvana]

1 minute ago, montecristo said:

bankrupt you if you don't pay.

not if it's a Ltd......just empty the cash out......

jokin apart I think one of the reasons the Uk is so fukked cos gimmigrants and other robbers just set up Ltds here there and everything and rob the system blind.........

I recall when I was contracting and some wide boys were filtering their proceeds through the Isle o man.......told me to 'get onbooard' but back in those days I was a dumb assole who thought the banking system and the government stood for something.......more fool me eh

 

[montecristo]

10 minutes ago, nirvana said:

not if it's a Ltd......just empty the cash out......

jokin apart I think one of the reasons the Uk is so fukked cos gimmigrants and other robbers just set up Ltds here there and everything and rob the system blind.........

I recall when I was contracting and some wide boys were filtering their proceeds through the Isle o man.......told me to 'get onbooard' but back in those days I was a dumb assole who thought the banking system and the government stood for something.......more fool me eh

 

Mmm.  Is a HMRC tax demand against the director or the Ltd?

[nirvana]

13 minutes ago, montecristo said:

Mmm.  Is a HMRC tax demand against the director or the Ltd?

soz above my paygrade that one......if you get any hassle and god forbid ever wanna come back just change yer name to Mr Cristo

[Starsend]

2 hours ago, goldbug9999 said:

Dear Loki OK you've "won" the argument, Well done.

Dear everyone else reading this with even mildly non mundane tax affairs, especially if you are a contractor - just take out the investigation insurance.

Cheers.

I had it for decades. Was a hundred pounds a year or something like that. Best purchase of my life for the reassurance it gave me in case those parasites at HMRC decided to park their tanks on my front garden for the next two years.

From what I could see, soon as they saw you had insurance and it was going to be difficult for them to extort you, they more often than not scuttled off like the manky little crabs they are.

Symptomatic of everything wrong with this cuntry. I paid tax / ni of £30 / 40k for decades while supporting a family and claiming fuck all in benefits. In return the parasite Government hounded me and other hard working individuals because they thought I should be giving them more - while they encouraged the other half of the country to sponge and pissed money up the wall on immigrants.

Couldn't make it up really.

[nirvana]

Gold dip buyers......

 

[kibuc]

1 hour ago, Bobthebuilder said:

A snorkel will not be enough, you are going to need some SCUBA gear and a dry suit.

You might want to use something more sewage-proof.



BTW, SSR Mining is down 50% this morning due to... errr... this:
 

Got your suit on already?

Edited February 13 by kibuc

[DoINeedOne]

Bought a small position in B2Gold today happy to hold in ISA

 

Edited February 13 by DoINeedOne

[nirvana]

actually if you wanna buy Gold that there might be ok........why? well a higher low shows some buyers are back in town plus it's an interesting level from back in time........or history should I say.......remember time doesn't exist, change does, time is a human construct so we can draw nice patterns on charts......

so you still don't believe in charts eh? well let's revisit our fave share BATS......it was a TITTY PATTERN at ~£25 and now it's ~24 quid.......ah but that's less than a £1 down nirv u dipshit........leverage my boy, leverage

Edited February 13 by nirvana

[AWW]

1 hour ago, montecristo said:

Mmm.  Is a HMRC tax demand against the director or the Ltd?

Both, in this case. The company for unpaid corporation tax. The director for unpaid income tax (assuming this "plan" involves simply transferring the money to yourself and not declaring it). As to how they would find out...

[invalid]

 

 

While not intending to make this into a HMRC and tax thread, I will put this here as it's inline with the theme of reducing tax and starving the beast.

I've not been able to find a clear answer to the interaction (if any) between tax relief for VCTs and SIPPs. VCT's becoming more popular for those who are hitting on pensions limits @DurhamBorn

For example, you have an income tax bill of £3,000. You put £10,000 into a VCT and you get your £3,000 tax back, you have paid zero income tax - hat tip to @Frank Hovis

In the same tax year you put £15,000 into your SIPP and automatically get the 20% relief, i.e. £3,000.

It appears that the relief is doubled?

 

 

[nirvana]

AND as it was predicted, the Gold went up, and they were at peace with the world