AgentXxx:
A Quick Question to the Financial Gurus: A friend of mine whose father’s friends has a company in Uk have recently been sending about 10k to 20k£ monthly to his Personal Uk account (from his company’s account) which he changes via lemonade or sometimes sells to students for school fee payment/visa/IHS and then eventually send the equivalent in naira to Nigeria. He wants to know if he will be liable on tax on such money.

AgentXxx:
A Quick Question to the Financial Gurus: A friend of mine whose father’s friends has a company in Uk have recently been sending about 10k to 20k£ monthly to his Personal Uk account (from his company’s account) which he changes via lemonade or sometimes sells to students for school fee payment/visa/IHS and then eventually send the equivalent in naira to Nigeria. He wants to know if he will be liable on tax on such money.

Madeu:

Ask the father. More aware of the UK tax system, for him to own a company.

Peerielass:


There are two issues to be considered here. If the guy is taking out money from the company account and transferring it into his personal bank account, he needs to understand that the company’s money is not his personal money to use at will (at least for now) unless of course he has built up a substantial balance in his Director’s Loan account over the years.

Secondly, is the money he is taking out either his salary or dividend? Whichever one it is, he is liable to income tax. Also note that if he takes out more money than he paid into the company in any particular tax year, then it’s classed as a Loan to a director and this has additional tax implication.

He should consult his accountant/tax advisor for further guidance on how to declare the profit he is making from the Lemonade transactions.

davide470:
I always look forward to semmyk detailed, 'legalistic' comment on every situation! Tuale baba!. I am glad we have you here.

OP @ojtopsy, if you are still asking questions on what to do after this, then you are definitely not serious. Sit down, go through the comment and links therein.

hyzich:
https://www.dailymail.co.uk/news/article-12156381/amp/Foreigners-wait-longer-British-citizens.html

Conservatives are really desperate to win.. They are looking for every avenue to look good and acceptable to the English.

Solumtoya:


Wahala... ILR from 5 years to 8 years... Hmmm... There are better ways to tackle immigration and attract only quality talents sha. The Point Based system is not "pointing".

My major challenge with the whole thing is the fact that an Immigrant, no matter how skilled, is tied to the Sponsorship of the Employer. I don't mind the 8 years but requiring an Employment Sponsorship for 8 years is crazy. Such a person can't even easily change jobs but has to remain with Employers willing to sponsor and remain at the mercy of such Employers.

The Global Talent Visa would have been a good remedy but even that is not the easiest to get, I hear.

Don't want to talk about the Visa Fees and IHS for 8 years!

Solumtoya:


Wahala... ILR from 5 years to 8 years... Hmmm... There are better ways to tackle immigration and attract only quality talents sha. The Point Based system is not "pointing".

My major challenge with the whole thing is the fact that an Immigrant, no matter how skilled, is tied to the Sponsorship of the Employer. I don't mind the 8 years but requiring an Employment Sponsorship for 8 years is crazy. Such a person can't even easily change jobs but has to remain with Employers willing to sponsor and remain at the mercy of such Employers.

The Global Talent Visa would have been a good remedy but even that is not the easiest to get, I hear.

Don't want to talk about the Visa Fees and IHS for 8 years!

hyzich:


Tbh the UK is confused because I don't see how this will solve the migration problems rather skilled professionals would start looking elsewhere because of the cost, inflexibility to change jobs etc. I don't even know any country that give citizenship after 8 years because they are said they want to be in line with many other countries criterion. They should kukuma close borders

profemebee:
best comment today.. tired of all the arguments lol

i think I remember Banana, evaporated milk (the type wasn't specified) and one Kolaq product

Enjoyyyyy

Solumtoya:


Wahala... ILR from 5 years to 8 years... Hmmm... There are better ways to tackle immigration and attract only quality talents sha. The Point Based system is not "pointing".

My major challenge with the whole thing is the fact that an Immigrant, no matter how skilled, is tied to the Sponsorship of the Employer. I don't mind the 8 years but requiring an Employment Sponsorship for 8 years is crazy. Such a person can't even easily change jobs but has to remain with Employers willing to sponsor and remain at the mercy of such Employers.

The Global Talent Visa would have been a good remedy but even that is not the easiest to get, I hear.

Don't want to talk about the Visa Fees and IHS for 8 years!

DoDirtsLikeWorm:
That reminds me, I do not know if it was in this forum that a guy who works as a Ticket Officer is (The Black Guy with Beards?), he was saying something about coaching another that doesn't like the job due to racism on how he can coach him better?

Please indicate your moniker¿ 😃 I get interview witn una people.
From Biz man to ticket man...on God shaa. Smh*

lightnlife:
Off Topic

Used DHL to ship 🚢 some edibles from Naija and it arrived within 2 days.

Lounging with snail 🐌 and kilishi.

lightnlife:
Off Topic

Used DHL to ship 🚢 some edibles from Naija and it arrived within 2 days.

Lounging with snail 🐌 and kilishi.

DoDirtsLikeWorm:
That reminds me, I do not know if it was in this forum that a guy who works as a Ticket Officer is (The Black Guy with Beards?), he was saying something about coaching another that doesn't like the job due to racism on how he can coach him better?

Please indicate your moniker¿ 😃 I get interview witn una people.
From Biz man to ticket man...on God shaa. Smh*

lightnlife:
AgentXxx is your guy.

lightnlife:
Off Topic

Used DHL to ship 🚢 some edibles from Naija and it arrived within 2 days.

Lounging with snail 🐌 and kilishi.

Stenvee:


Most foreigners will leave if this is implemented. Waiting 8 years for ILR is just too long . Other countries will take advantage and relax their immigration rules to accommodate the talents that would leave the UK.

AgentXxx:
A Quick Question to the Financial Gurus: A friend of mine whose father’s friends has a company in Uk have recently been sending about 10k to 20k£ monthly to his Personal Uk account (from his company’s account) which he changes via lemonade or sometimes sells to students for school fee payment/visa/IHS and then eventually send the equivalent in naira to Nigeria. He wants to know if he will be liable on tax on such money.

AgentXxx:
A Quick Question to the Financial Gurus: A friend of mine whose father’s friends has a company in Uk have recently been sending about 10k to 20k£ monthly to his Personal Uk account (from his company’s account) which he changes via lemonade or sometimes sells to students for school fee payment/visa/IHS and then eventually send the equivalent in naira to Nigeria. He wants to know if he will be liable on tax on such money.

misskenny2284:
Pls I need help on this credit card issue. I have been trying to get one but was turned down by my bank. I tried American express but I was also turned down. I do know how to go about it. I have a full time job, lived in an address for more than a year.

I have not lived up to 3yrs in the UK and I have no direct debits on my bank account. My credit rating according to my bank app is 586.

The response from American Express was this:

Your application was evaluated using a credit scoring system, which looks at a range of factors, such as your payment history with American Express, information you provided in your application, information provided by the credit reference agency(ies) identified below, and information from your online interactions with American Express. The information we collect is outlined in our relevant privacy notices (Cardmember Privacy Notice/Online Privacy Statement (americanexpress.com/uk/). Unfortunately, your application did not meet our minimum required score.

elisinho:
Please guys i need your help
I book a turkish airway for my friend and he missed the flight, how don i get a refund please as he cant come again

elisinho:
Please guys i need your help
I book a turkish airway for my friend and he missed the flight, how don i get a refund please as he cant come again

SPDAZZY:


How much did the delivery cost?

Peerielass:


I’m interested. How much do they charge per kg to give me an idea of costs. Thanks.

iyatrustee:


Dhl once told me they don't ship meat products when I wanted to buy kilishi!