3 posts • joined Monday 17th December 2012 14:59 GMT
A tiny nitpick - companies may not have to pay VAT on goods they purchase to then sell on, but they do however have to pay HMRC VAT on services that they provide.
For service based VAT registered companies (like my own limited company), HMRC operates a VAT flat rate scheme whereby you invoice the full prevailing rate of VAT, but you pay to HMRC a lower rate of VAT to offset the fact that you are still expected to pay VAT on any supplies you purchase.
Re: Corporate tax dodgers
You must be new here. The "profit" never comes back to the UK, even with large UK companies. It's all funnelled offshore to holding companies in friendlier jurisdictions like the Cayman Islands, Bermuda, and Switzerland.
Re: I've said it before and I'll say it again....
In the UK we have the Rehabilitation of Offenders Act. Depending on the severity of the offence, you have a period of time after your conviction to demonstrate that you have been rehabilitated (by not offending again). Once that time has elapsed, if you haven't re-offended then your record is deleted and you are considered, legally, to have never offended.
There are exceptions (murder, for example, I believe is not eligible, and possibly anything that comes with a custodial sentence), but in general, keep your nose clean, and you are forgiven.
This is automatic, and all you have to do is play nice.
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