Botwatch 86!!! the continuing saga of MLM. When 99.6% of people joining MLM are destined to lose money is that an opportunity or a scam?

[Spongebobette]

On this thread we are botwatchers - watching multi level marketing bots and exposing their manipulations and misleading claims

‘Never miss a moment’ was one of the sayings wasn’t it

except for when you are glued to your phone all day posing on social media, in an evening Zoom meeting or attending success days

Yawn is screwed. I owe a couple of hundred on my tax for self assessment, HMRC called me this morning demanding the money. It was an oversight and I paid straight away. Point is this has never happened before even though over the years I have been behind sometimes. They are really cracking down and the hiring of 5000 more HMRC employees means they are going for anyone. Accountants will also have to be more vigilant and won’t think twice telling HMRC of any dodgy practices to cover their own asses. There is 10s thousands of tax due on yawns ridiculous £200k directors loan that HMRC will want to get their hands on in any way possible. It’s all happening people.

Wow

🍿

But surely she pays the tax on DL every year? It's a whopping 32% of the amount owed so it still a huge sum.

I doubt she is paying £64k in tax each year on that loan, she isn’t earning remotely enough for that plus paying to live on top. They are certainly bed and breakfasting the loan to avoid tax.
its a dire situation to be in as they can’t liquidate the company as that makes the directors loan due for payment by them personally and then she will have to pay it or go bankrupt.

They have been bed and breakfasting that loan since 2017. I wonder how HMRC will deal with it when they finally decide to take action.

I think if she liquidates the company the Directors loan will be then classed as income so 45% tax would be due to HMRC upon liquidation, like you say there's no way she could afford that no matter how much manifesting she does, either way she's up shits creek, but trying to scam vulnerable women to pay £22 a month isn't the answer..

I’ve just read the rules and regs and it’s mind blowing how much shit Yawn is in. Even if she writes off the loan it will be added to her income/self assessment. A grand total of over £80000. She may also have to pay NI. Because she loans herself interest free then she will be paying at least an extra 2k in tax on the difference of the repayment with interest and without.
So that’s an extra 16k over the last 8 yrs.
I doubt she has the first idea how the loan works and is using her parents money to pay off the loan every year only to pay them back a few months later. Alternatively they may have remortgaged the house. Meanwhile she is still throwing good money at a lost cause.
If anything happens to Mr Yawn an he can no longer work she will be homeless and penniless. I suspect both of them have permanently twitchy arses.

Yes I wonder, it must be really worrying but why hasn't Mr Yawn taken the matter into his own hands and told her to stop dicking about and get a bloody job...

So since 2017 they should have paid over £420k in tax, money the NHS could use. Instead the Yawns are tax avoiders plain and simple which is illegal in the UK making them criminals.
Shame we cannot give HMRC the heads up, boils my piss, going around saying she is a business coach, total loser more like.

Avoidance is legal, evasion isn’t. Bed and breakfasting is in a blurry bit in the middle.

Yeah some business coach she is, the only thing she knows about is how to drive for 3 hours and pose in a forest for some pictures....honestly.

Which HMRC will hopefully be clamping down on

However if their accountant goes out of business the UK FL bots are going to be in a huge mess. As numbers are dwindling the accountancy firm they all use must be struggling a little. I’m surprised HMRC haven’t flagged them with so many bots faking it until they make it.
It’s unlikely they will find another firm quite so willing to operate in the same way.

Just submitted a report to HMRC about yawns suspected activities.

Well done. She’s probably in the “to do” tray but maybe will now be prioritised.

I'd be terrified if I was her. To owe so much and then have so much evidence of a bragged lifestyle it's destined for the papers 'Self acclaimed business guru jaied for tax evasion and fraud'. All of those posts about her income, her lifestyle etc is just evidence against her when she says she can't afford to repay. What a tangled web we weave.

Wonder who 'the girls' are that she would holiday with? Because she's never had a girls holiday with anyone non FL and noone is jumping on the post to say "when are we going?!" like my friends would.

She’s boasting of a relaxed December without having to meet sales targets or recruitment targets

so all those years in FL meant stressful Decembers presumably- funny how that was never mentioned before

I do t know where that GIPHY came from in my last post 🤔

Yawn is part of a long line of bots who have overstretched themselves during the brief good times. What is more interesting is the part FLP has played in encouraging the predicament the bots are in and the role of that firm of accountants that many bots and ex-bots use and used that also did the books of FLP. What a unique window they must have had on "debt free" FLP and the bots' loans!

I know sod all about taxation (as you can probably tell) which is why I have help from accountants who I'm pretty sure would have had something to say many years ago if I'd been in the same kind of position as the bots, so I really do wonder about the "advisors" circling around the bots and "helping" them and their empires. Let's face it most of them wouldn't have come from a previous career requiring much financial literacy, they just hit a bit of a bonanza in some kind of happy accident that they were led to believe made them successful business owners.

Other bots may be in a less precarious position than Yawn but they haven't necessarily behaved better. Fierce for a start. And what about Boring Name Bot (a former accountant) or Castle and her magic money tree? Or Mr and Mrs Homeschool?

@Spongebobette you been at the Sherry? ;)

I’m just about to have a g and t!

Well we know that Homeschool was bankrupt

and JL bot was in trouble with HMRC for tax issues

Castle is launching something brand new never seen before insane amazing something something something

Is that this week's brand new never seen before amazing something or last week's brand new never seen before amazing something? It's so hard to keep up (or care).