A business question.
Forums › General Discussion › A business question.-
A moron on my wall thinks he knows better than me.
So, if you are the ditectior of a LTD company are you classed as employed or self-employed? Please answer for the moron on my wall. As soon as I have my answer I'll delete this post as I don't wish to engage in forum conversations with the village idiot.
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Depends, if the director only draws dividends the it is S/E. As soon as they begin drawing a 12 month salary they are an employee regardless of the entities size. I will say, it is one of the muddier tax issues.
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Technically, he probably does draw a paycheck and is, therefore, "employed"...but really, is this whole thing important? Let it go. If you can't, then perhaps you two deserve each other. Might I suggest that this is not worth your time? Be proud of what you do and continue on by ignoring the dude...or maybe he's hit a sore spot.
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Bones ur wrong. His NIC band would be that of self-employed if he is the director regardless of whether he draws a salary or not, any non-director within the company is classed as employed. Trust me, I know my NIC band. It's not important because I know what I'm talking about is correct, I've met people like him in real life who bullshit unbelievably about things they have no understanding of. There's just no need for it in a game but I do want to prove a point.
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People get abusive because they know they are wrong and it's truely pathetic. I will be ignoring the person as it's a waste explaining him otherwise.
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Well everyone is entitled to their opinion I suppose. And I appreciate the flat out "you're wrong" without really expanding or elaborating. I may be wrong, as I said, muddy waters relative to the IRS. But, one of the two of us teaches college level accounting. You asked, I replied. Do with it what you will. The LTD "loophole" exists solely for tax breaks. It does not, nor will ever, give anyone who understands accounting the impression of gainful employment. And with the utter ramblings on your wall by this random party. His credit of intelligence is shaky at best 😉
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P.S. Let your amigo know LTD and its limited liability do not exist to separate person from business entity, ergo making a person an employee outright ( as he implied via pm's) They exist to partition personal property relative to damages. I.E. Protect a house or pre-existing assets.
Boom😉
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Bones didn't mean to come across abrupt sorry lol as a director of a ltd company, as he states, yes he is "considered" and employee of his company, I am too. However, his status with hrmc would be self-employed as he owns the company meaning he pays class 2 nic, if he did not own the company he'd pay class 1. He also said he done his tax, I assume self assessment. The fact that he explained to me the liability factor for a ltd company, which bares no relevance to his status, shows his lack of understanding with company structure and terminology. Anyway, I appreciate u took the time to comment 👍.
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Yeah ur right exactly. Also, a "managing director" can technically be considered employed provided they are hired. They manage as opposed running the business they own hands on. And since when is corporation tax offset against nil profit? I must be wrong in that case!
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Bottom line...anyone with that trashy a mouth cannot be in charge of anything remotely profitable. Ask him to explain chapter 11. I'm sure that's more up his alley.
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You vat registered vadan
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Riddle me this...
I can't be VAT registered. What's my job? -
🚶ickle mobster🚶 wrote:
Yeah I am mate why?You vat registered vadan
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Vadan a managing director is employeed as once a company is incorporated it is a different legal entity... Someone can't be self employed if they are the director they are an employee of that company
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Quattro wrote:
I give up explaining to you. Its like making a stone bleed. You havn't the slightest understanding what you go on about why even bother? Just stop. Do you even understand the definition of self-employement?!Vadan a managing director is employeed as once a company is incorporated it is a different legal entity... Someone can't be self employed if they are the director they are an employee of that company
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VADAN wrote:
Mate show me where I am wrong as I am right... When working in a LTD or PLC as a director u are employed... Even if u own the company and are a silent president u are employed... Stop crying cos I proved u wrong... Go to a business or legal site and find out ur thick for posting this up here in a game forumQuattro wrote:
I give up explaining to you. Its like making a stone bleed. You havn't the slightest understanding what you go on about why even bother? Just stop. Do you even understand the definition of self-employement?!Vadan a managing director is employeed as once a company is incorporated it is a different legal entity... Someone can't be self employed if they are the director they are an employee of that company
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VADAN wrote:
Bones is right so is everyone else in the post apart from u!Bones ur wrong. His NIC band would be that of self-employed if he is the director regardless of whether he draws a salary or not, any non-director within the company is classed as employed. Trust me, I know my NIC band. It's not important because I know what I'm talking about is correct, I've met people like him in real life who bullshit unbelievably about things they have no understanding of. There's just no need for it in a game but I do want to prove a point.
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VADAN wrote:
😭😭😭😭😭let it go cry baby, your wrong and even if ur right ur pathetic for posting this on the forum for a game like these people even care they just want to play😭😭😭😭😭People get abusive because they know they are wrong and it's truely pathetic. I will be ignoring the person as it's a waste explaining him otherwise.
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👎👎BonezBedlam👎👎 wrote:
U dicks... This ain't real life it's a game I don't talk like this in real life... Looks like u lot are living in a game wrong and can't work out which is whichBottom line...anyone with that trashy a mouth cannot be in charge of anything remotely profitable. Ask him to explain chapter 11. I'm sure that's more up his alley.
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Employment status: basic checks to help you decide
You can usually work out your employment status by asking a few straightforward questions.
You are probably self-employed if you:
run your own business and take responsibility for its success or failure
have several customers at the same time
can decide how, when and where you do your work
are free to hire other people to do the work for you or help you at your own expense
provide the main items of equipment to do your work -
Nick please move this into the vadan and quattro thread .......
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You don't even understand corporation tax ur in no position to question me or any other persons feedback in this post. Once again, u've been unsuccessful in having a civilised discussion so I'm gonna stop and go back to ignoring you. No point arguing with an idiot, they'll drag you down to their level.
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Quattro wrote:
Can you spell loser properly in real life? You sure didn't on vadans wall👎👎BonezBedlam👎👎 wrote:
U dicks... This ain't real life it's a game I don't talk like this in real life... Looks like u lot are living in a game wrong and can't work out which is whichBottom line...anyone with that trashy a mouth cannot be in charge of anything remotely profitable. Ask him to explain chapter 11. I'm sure that's more up his alley.
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TinkerBelial wrote:
Lol no I can't!Quattro wrote:
Can you spell loser properly in real life? You sure didn't on vadans wall👎👎BonezBedlam👎👎 wrote:
U dicks... This ain't real life it's a game I don't talk like this in real life... Looks like u lot are living in a game wrong and can't work out which is whichBottom line...anyone with that trashy a mouth cannot be in charge of anything remotely profitable. Ask him to explain chapter 11. I'm sure that's more up his alley.
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shaggly razors wrote:
I agree... Shagley please not that yet again Vadan made this public... I'm sorry but if he is going to publically attack me then I have a right to reply... He is a baby this has nothing to do with the game end of it does not belong hereNick please move this into the vadan and quattro thread .......
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Quattro wrote:
Publicly attack u? The forum is where topics are "discussed". This was setup as a discussion, is that very difficult for you to grasp seeing as you make everything a slinging match? Ur like a baby throwing a tantrum in it's pram cos ur not getting u own way. Seriously, grow up.shaggly razors wrote:
I agree... Shagley please not that yet again Vadan made this public... I'm sorry but if he is going to publically attack me then I have a right to reply... He is a baby this has nothing to do with the game end of it does not belong hereNick please move this into the vadan and quattro thread .......
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Calling me a moron at the start in public I see as a public attack... This has nothin to do with the game stop crying just drop it and play the game.
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U made this into a slangging match u always do messaging me stupid stuff
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Good deal on handbags at swindon retail park. I have directions if anyone needs em 👍
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Quattro 1 hour ago Quote
👎👎BonezBedlam👎👎 wrote:
Bottom line...anyone with that trashy a mouth cannot be in charge of anything remotely profitable. Ask him to explain chapter 11. I'm sure that's more up his alley.U dicks... This ain't real life it's a game I don't talk like this in real life... Looks like u lot are living in a game wrong and can't work out which is which
What here is "dickish"? I answered a question, then commented on your trashy mouth. Look at Vadan's wall (as the Author I am sure you're familiar with the material). It's trashy.
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Have u looked at my wall?!
Like I said he keeps leaving me stupid posts and even worse PM's like a spoilt child... Guys can't shut his mouth so why should I when I know I'm right
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