Posted: 12/09/2016 at 10:18
Back on tax, always find it interesting when people are contractors and can legally set themselves up as a company. Pay say £100 a month for the privilege, pay themselves a tiny salary which is minimal tax, whilst keeping the other money in the company, occasionally paying themselves a "dividend" which apparently isn't taxable , unlike a bonus which would be! How do they allow that sort of set up!
I think there's a slight misconception here SG. I am self-employed and although I pay myself a smaller salary and top it up with dividends, the dividends are taxable - they're just not liable to National Insurance contributions. So, you do pay a bit less, but if your salary plus dividends equals rock star salary, you're still going to pay a shit load of tax. And, the company is liable to Corporation Tax as well. I also don't take the piss with the salary portion - it's basically the bare minimum we need to pay our bills and in the first 6 months of my business, it was a bit of a struggle for the company to even afford to pay me that!! On the flip side, there are plenty of piss-takers, particularly in Aberdeen in the oil industry where I work that have been "self-employed" for many many years, working 5 days a week for the same company but exploit every single loophole / tax break out there and seem to get away with it!
I currently drive a 2003 VW Golf by the way. It's by far the shittest looking car in the car park, but with 180,000ish miles on the clock, it's still a beast.
Anyway - running. Good 10k efforts Dachs and Pete.
12 miles on Saturday including over 1,000 ft of climbing in the middle 8 miles - ave. for the run was 7:45/mile. Not going to claim that as an "easy" run. It was pretty bloody hot and I was pushing it up the hills and on the steepest downhill I went for it and had a bit of practice running fast downhill! A touch scary... Quads still complaining a bit today but a nice 8 miles this morning with the last 6 miles all between 6:42-6:44 pace.