Friday, January 17, 2020

Latest news from 'my mate down the pub'

Conversation with a client...
Me: "You've made a taxable profit for the year of £25,000. This means a corporation tax liability of £4,750."
Client: "Is there any way to eliminate the tax bill completely? My mate down the pub said his accountant sorted it so he didn't have to pay any tax."
Me: 🤔 "Well, you could agree to pay me £25,000 in accountancy fees, then your taxable profit will be NIL. NIL profit = NIL tax 
Disclaimer: Whilst this is factually correct, it is not how I do business (duh! 🤣)
BTW The client knew I was joking!
As told by Accountant Nicola J Sorrell on Linkedin

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