Member Since: 3rd Jul 2009
2nd Oct 2020
I always thought that if we ever were caught out we would never pay.
In February an email came in with a virus which encypted our files. We took the backup from a few days before and restored the data. This took probably a week as the virus had affected quite a lot of other things. We refused to pay the ransom- in fact it wasn;t even a consideration.
Come to April this year and were hit with a ransomware virus.
The virus targeted remote desktop access weaknesses and encrypted every single file on our servers!
We spoke to our IT guys who dealt with our backups etc. They hadn't correctly fixed the backups since February and so we were in big trouble.
We spoke to data recovery experts who said 95% of the companies pay to get their data back and they always get it back. The hackers don't want to be known to not give it back or nobody will ever pay the ransom.
We had little choice but to pay the ransom in bitcoin!!
They gave us the key and we did get our data unencrypted.
We immediately moved to a hosted solution with hourly backups so if this ever happens again the most we could lose is 1 hour and we should be back up and running in an hour too.
I should add that we had firewalls and virus protection software. So, from a painful experience, please don't think it will never happen to you. I think it's probably just a matter of time.
23rd Nov 2019
Not only will basic rate taxpaying shareholders pay a 41% effective tax rate on their profits (corporation tax plus dividend tax), but higher rate taxpayers will have a 59% effective rate and, if the claw-back of personal allowance above £100k is retained on top of a 45% higher rate, the effective rate on that slice of income will be 76%.
How do you come up with those %?
9th Oct 2019
Accountant A wrote:
I know directly of a good number of people working for one of these banks who were quite clearly employees being incorrectly treated as self-employed. They worked in the same office doing the same thing as other people who were employees and in some cases did that for years and years.
Anecdotally, there were thousands of similar cases.
I think it was probably a response to some director who had a large bonus riding on (staff) headcount reduction.
I agree here
. Barclays and Lloyd's are perfect examples. My brother contracted to these at a rate of 450 per day when the permanent position would be paid maybe 50k a year. Most guys were contractors who had worked there for years. Never should have been contractors.
9th Oct 2019
Tom 7000 wrote:
I don't think the penny's dropped here with a lot of people. 200,000+ uk limited companies will close. Assuming each accountant does 70 a year. That's 3000 unemployed accountants. 1000+ unemployed support staff. Most firms will lay some people off as they are likely to ..
How on earth to you extrapolate those figures?
9th Oct 2019
I wonder how all the big contractor firms, e.g. Crunch, SJD, Clearsky, JSA, Maslins, etc are going to cope post 6 April 2020? Surely these firms are just going to end up like Thomas Cook? E.g. they will lose around 20%+ of their clients, then potentially run out of cash! Looking at JSA Services Ltd's group accounts they made a £1.1M loss in 2018 (and £250k loss in 2017) and that is before the new off payroll rules come into effect! Surely these types of firms are just going to go under? Hopefully this results in more clients for the rest of us!
I was thinking exactly the same. Looks like sjd sold up at the right time.
They must have known this was coming so cashed in just in time.
6th Feb 2019
Call me cynical but I can't see how anyone working 30 hours can do the amount of work that they would in 37.5 hrs.
Unless of course there isn't enough work to keep them occupied full time.
If they can then surely they are not working hard enough usually?
Do they get paid a full time salary?
5th Feb 2019
Thanks for the comment. The 6 hour is an expectation. We don’t track time so therefore we would not know if a 6 hour day was being worked even if we did want to police it.
So are you saying that staff work 5x6 hour days a week so effectively working 4 full days?
6th Dec 2018
I wish they could put sage 50 in the cloud at a reasonable price.
At the moment it's something like 120 per month which is crazy.
5th Dec 2018
There was something a little disingenuous in the BBC's article on this - though I don't know if that is due to the Beeb or if they are quoting from the report.
The comment was about a public sector worker who had been told to come back and work under a limited - and now owes loads of tax under the loan charge.
A little disingenuous to leave out the bit in between about her entering into a deceitful scheme aimed at avoiding income tax and NIC, signing over 90% of her pay in return for no consideration, then borrowing it back as sham loans with no ability or intent to repay them.....
The above is why she now owes the tax - the tax that was really always due - not the act of dressing up her employment as running a business. That's another matter altogether......
When will the lies and the deceit stop?
I agree with this. Even though they may not have understand the small technical details they knew they were paying no tax and having lots of their income in loans.
They were told the risks bit took them anyway.
Harsh but they do owe the tax but I doubt they saved any of it.
23rd Nov 2018
Pushing the time frame back - is that just wishful thinking?