Capital Consulting - Why can?t I continue paying taxes through my Limited company?
This seems to sum it up in a nut shell and certainly reflects the mess the Spanish and Italian crews found themselves in. Its all very well for Ryanair to say" we pay you through your own limited company" but in reality the test cases of the social taxes being paid in Eire and the " contractor" paying marginal Corporation Tax on the " profits after all deductions" have floundered badly with crews spending more on tax consultants than the original " honest tax" would have been. Having said that, most folks are their own worst enemies and claim the most bizarre and outrageous deductions and wonder why the pack of cards falls. You will find when the sh8t hits the fan, these " tax consultants" have very little stomach for the fight and in short revert to the " well we said be reasonable, or lets give it a try" approach. People enter the profession to earn a living that provides the ability to purchase a house etc etc, with these shadow Limited Companies your borrowing powers are zero as it is based on the "company profit" or your " declared income" which you have reduced to practically nothing to avoid the tax burden. If RYR can offer UK crew direct contracts, all above board, why do they attempt this nonsense with the other crews outside the UK? I can tell you, the UK HMRC are a lot more reasonable with negotiations than the latino countries whom seem to take this matter very personally.. hence the new Spanish rules WEF 2014