Page 40 | MLM Bot Watch 52: The continuing saga

(1000 Posts)
Jasmin82 Tue 16-Jul-19 22:21:28

Continuing on from previous threads.
BBC documentary:
www.bbc.co.uk/programmes/p076n2hg

OP’s posts: |
fromdownwest Tue 27-Aug-19 12:37:33

So a tax bill of £76,000 on top of all the other expenses that she is incurring whilst loving this facade.

How she sleeps at night is beyond me, I’d be a wreck.

Whiterangey Tue 27-Aug-19 12:43:13

I am in awe of the people who can work this tax stuff out. It's almost as complicated as the compensation plan on an mlm.

Almost.

Whiterangey Tue 27-Aug-19 13:06:49

behindmlm.com/companies/xsinergia-securities-fraud-warning-issued-in-spain/

This is one of Wiig and Sleazes. I am not due if it's thre latest one, but they are heavily involved.

I.m shocked it's a Ponzi, totally shocked.

SnoogyWoo Tue 27-Aug-19 13:15:56

Is that the latest one they are launching?

leasedaudi Tue 27-Aug-19 13:56:03

In theory she would have put aside 20% of the loan amount for tax time...

fromdownwest Tue 27-Aug-19 14:21:31

I am sure she would have mitigated her tax bill by contributing her annual allowance to her pension scheme. Being the business mentor that she is, I am sure she is well aware of cash flow analysis and tax efficient future planning.

leasedaudi Tue 27-Aug-19 15:04:23

Unfortunately the top bots have smart accountants so probably ok on the pension front ☹️

Cacacoisfarraige Tue 27-Aug-19 15:09:26

She is able to ‘pay it back’ and takeout another loan in the same instant.

The worrying thing is when the loan is increasing while revenue is decreasing.

She is only kicking the can (tax bill) down the road and she will have to pay it. Unfortunately her business no longer generates the bonus to do so. Instead of banking her bonus she spent it on a ‘lodge’ 😂😂 mobile home to the rest of us.

Her house is for sale but I don’t know if she will have significant equity released from the sale. She has shown that she will probably fritter it away on some other stupid purchase. Perhaps the bank of mum and dad will come to the rescue again

Twentytwentyhindsight Tue 27-Aug-19 15:54:55

@leasedaudi - it doesn't matter how smart the accountants are (the top FLP bots all use the same firm) if the bots will be reckless and profligate with their company's cash.

They could pay themselves a wage, and have NI and PAYE income tax deducted. They could also wait until the end of the reporting period, declare a profit, pay corporation tax, then issue themselves a dividend.

However, neither of these methods fits in with the instant gratification/overstated real rewards world that they live in.

Therefore, probably against the prudent advice of wiser accountants, they siphon off money as director's loans, which they proceed to spunk on showy expenditure.

They have no real business sense, and imagine that their income will continue to grow, making it a doddle to meet any future liability.

As @Cacacoisfarraige says, they are merely deferring a large tax bill, one that will be all the more hard to swallow once the loan is growing year on year and income is actually falling.

The end result is inevitably that the company becomes insolvent, and they personally end up with a large tax bill that they cannot repay. I believe Insolvency/John Lewis Bot's paltry Bonus cheque this year had already been earmarked for the creditors (HMRC) before it had even been issued.

leasedaudi Tue 27-Aug-19 16:15:48

You're so right @Twentytwentyhindsight . Its all about shiny cars and houses and handbags with this lot. I do note Uber setup another company with her surname and her husband to he's , with property development in the title. It's still listed as management consultancy services though and the fiancé isn't a director.

I wonder if she's trying some sort of phoenix company arrangement.

fromdownwest Tue 27-Aug-19 17:10:40

One bot who is very prominent with running at present, think its training for a half marathon is hitting the recruitment hard. One quick google search shows her liquidated company in 2018 owing over £180k to the tax man in the form of you guessed it....a directors loan.

How on earth these people have the audacity to sell the pipe dream, knowing its all a lie, they truly are awful people

At least Nurse is potentially unaware of this.

JasperRising Tue 27-Aug-19 17:57:34

PHD has finally realised that only network marketers are going to be interested in her coaching... Wonder how many can afford the fees though

Whiterangey Tue 27-Aug-19 18:05:44

Some network marketers will take out loans or put it on a credit card to afford it.

You have to spend money to make money!

Bruv is shaming some woman who he took a photo of on the tube for her footwear. Not acceptable, firstly taking a photo of someone else and putting it on social media to shame them, and secondly, you don't know her story, not that it matters. She may have problems with her feet and those are all she can walk in. Not that it matters, people should be able to wear what they want without fear of someone taking a photo and putting it on the internet to take the piss.

At least she doesn't scam innocent people out of their money while living it up.

He is vile.

BangingOn Tue 27-Aug-19 18:22:43

Iron’s liquidator’s report talks about the whole director’s loan being owed, not just the tax, but doesn’t list HMRC as a creditor. Is that because she is individually liable for the tax, rather than her company?

If anyone who understands these things wants to take a look, she’s fit, healthy, fabulous in a limited way.

fromdownwest Tue 27-Aug-19 18:23:48

What a bullying repulsive little boy he is, maybe that is the only footwear she can afford, maybe they have sentimental value to her, who photographs strangers and judges them on social media. Scurry back to your bed sit little boy!

I really can not wait until this Castle Clan comes tumbling down.

Hunbot Tue 27-Aug-19 18:25:52

You think that is bad. Look at castles other business. 3k loss in 2018, 65k loss in 2019

Whiterangey Tue 27-Aug-19 19:05:48

Iron Bot's accounts show that she owes HMRC £45k and Lloyds Bank £6k.

In theory, if she paid back the £70k directors loan, HMRC and the bank would take their cut, and she'd get the other £20k.

Obviously she hasn't got the £70k, I believe someone mentioned that her house has been sold at auction, likely by the powers that be to claw back what is owed to HMRC and the bank.

Not to mention the liquidators costs will need to be paid as well which i'm not sure but I think are £8k.

Your business can close while owing a loan as long as your tax and other creditors are settled. If the money is just owed to the directors and you are the director, it's your money.

HMRC are relentless, hence her house going up for auction. I imagine she likely didn't have a lot of equity. I also wouldn't be shocked if most bots didn't have a lot of equity in their homes. When income starts dropping, nothing like a remortgage to have that sweet spending money to keep up appearances.

It couldn't happen to nicer people.

Spongebobette Tue 27-Aug-19 19:33:33

Anyone fancy paying Nurse £2 a day for 30 days?

( meaning pay her 60 quid)

To get Aloe Glow

No thanks and by the way that collage of Aloe drinkers has the same people on several times.

Cacacoisfarraige Tue 27-Aug-19 20:01:20

Bruv really is a tool. He is a boil on the arse of humanity. Why take a photo like that and post it.

He is a loser constantly being bailed out by his family.

CodenameVillanelle Tue 27-Aug-19 20:13:51

Nurse and yawn are on there 3 times each grin

BangingOn Tue 27-Aug-19 22:06:36

Thanks White, I don’t know how I missed the HMRC debt, I couldn’t see it in the liquidators report. It does look like her house went to auction in July, but the guide price was only what they paid for it as they bought during the last boom so there might not have been that much equity in it.

The bloody stupid thing is that she had a good job, really flexible and was probably earning £60k plus car, bonus, generous holiday allowance etc. She could still go back to it if she wanted to, but instead she moves to Ireland and continues to push capsules of dried vegetables.

BSintolerant Wed 28-Aug-19 00:15:01

Bruv is shaming some woman who he took a photo of on the tube for her footwear.

Has the photo disappeared? #mlmlawofreaction

Remind me: what sort of shoes Bruv wearing when he danced on the hob? A ballet shoe on one foot, a tap shoe on the other? Between the two he could make a very good living - at least a better living than Forever Living ... (Thank you Ken Dodd).

Ladiva1971 Wed 28-Aug-19 01:37:16

Bloody hell does PHD waffle on...………… Gimme a bullet FFS

CodenameVillanelle Wed 28-Aug-19 07:15:43

It was an Instagram story

SnoogyWoo Wed 28-Aug-19 07:41:19

PHD deleted the post where she said she had a big announcement to make.

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