Most people who start a company look into taxes and pay them. It's really weird that he thinks his view is normal. Again at the end he said "I felt a little bit insulted about the way he was going on about how I don't pay the VAT. I think I'm an entrepreneur, I'm taking risks." He got the part with the risks wrong somehow. You take financial risks, not legal risks.
Some dragons don’t start their own company and just have a lot of money, like Jenny. Ironically all her investments are noticeably successful, even if it’s just 5. Also you can own a company without starting it, such as buying it or inheriting it. Thus robbing them the experience of starting their own their scratch.
@@cekojuna6930 of course! you're totally right! The point here is, you don't ask a dragon that question. It's called dragon's den, not "Lucky Powerball Lotto Winner's Den". But regardless, let's say for the sake of argument that all dragons are simply loaded and never started a company ever. The question itself is an example of cognitive bias in which he's assuming that someone that hasn't started a company himself (which is not the case, but again, let's say it was) wouldn't understand the hardships and problems that would ultimately lead you into the "not paying VAT" direction (As if it was common practice and hence nothing to be worried about) But yeah, you're right. It's just not that the question itself is wrong, but rather what posing that question actually implies.
Erm, 2 of the Business were actually about to invest in him you know did you actually watch the vid beyond that point? Would have been more accurate if you said ''summed up his Valuation''. But I feel a bike tumbling down a cliff sums that up better
An absolutely savaging from Peter, was half expecting him to carry on but just get really personal ‘and I hate your hair, I can smell you from here, and if I saw your nan I’d smack her’ calm down, Peter.
The kid deserved what he got. He's a fool and yes, he dressed like shite asking for $200,000.00. I bet you wouldn't have given him YOUR money if you earned it the hard way.
@@getin3949 a homeless person asked me for some of my hard-earned money the other day, I said ‘sorry mate’ and carried on with my day, but then that probably wouldn’t make very good television would it? 😉
Yeah Peter, those colourful socks are COMPLETELY insulting, unprofessional and undermine any idoltry I formally had for you. SO, for only that reason, I'm skipping off for a pint. 🍺
8:37 that’s how I was feeling. The moment this guy stepped into the den, I know they say don’t judge a book by it’s cover but this guy I just had a feeling he wasn’t going to get an investment. Peter’s words before he declared himself out were my exact thoughts as well.
"I felt a little bit insulted about the way he was going on about how I don't pay the VATs. I think I'm an entrepreneur, I'm taking risks." Um, he got the part with the risks wrong somehow. :D An entrepreneur takes financial risks, not legal risks!
Getting into the den panting and sweating before you utter a word definitely has an effect on your presentation. I feel for the guys that pitched when the stairs were there, and I'm pretty glad they removed them.
There was a Swedish tv show called something like "Swedish Millionaires" where rich people threw money around and flexed their wealth. Turned out most of them hadn't payed taxes and the tax man came for them hard after the show aired. 😂
Most kids do not know about tax returns and VAT - setting up companies and all rules. They should be taught it at school and hire a good accountant whenever setting up a business
Doug Richard: 'Would this product appeal to 14 yr old girls?' Entrepeneur: 'Possibly, yes' Doug Richard: 'Hmmmm...interesting...let me make you an offer.......'
@@ray_tupper it's all a bit suspect though and yeah he "thought" they were 17 but it's still dodgy af. The fact you would even defend the scum bag is shocking.
@@paulstables187 defend a man who was lied to by two underage girls... why wouldn't I? The fact remains that he was lied to by the pair of them about their age, proven in a court of law, yes, his sexual preference may be questionable but... again, he was under the impression that they were both of a legal age.
How does 17 make it better? The age gap is the real issue. Adult men can easily manipulate young teens. If he did it once he presumably has been doing it other times. You and I can both identify a 14 year old girl anyway.
What a pathetic statement. People don't go onto the show with the intention of making themselves feel uncomfortable - esp if they're not making a fool of themselves and or becoming a major liability to themselves and others.
@@_tor yes but even 17 is weird for someone who is in their 50s to even been interested in teenagers of any age is bizarre that excuse is so distasteful and worn out.
How are we all doing today? Settling in for lunch, dragons den, then my daily walk round and round and round in circles because we can't travel anywhere.
ah the vat man, 1 day late on either submitting or paying them and they screw you to the wall, you find that out quickly in business, 6 months down the line for him would have been liquidation for sure
@@Foldy435 ok you do have to repeat that one or two times being late, but they are the harshest of all the tax related 'man' and have the highest fines
@@nathanpiper1346 highest fines is entirely the point tho. If you come from f/a and are trying to get ahead you HAVE to take risks. If you take an educated gamble that you will be better off delaying a payment & that gets you ahead so be it. If it doesn’t work out you are marginally worse off. The vat, tax , government, robbing bastards want you to be scared. It keeps the competition at bay. What’s the worst that’ll happen ?
That might be true if he didn't continue along with words as well. It wasn't the physical act of laughing they're referring to. It's him giving zero fucks about his debtors and creditors and then trying to justify that attitude when he's pulled up on it because "muh cash flow".
Actual pitches are much longer and they edit it to 15 minutes of the most interesting moments. If I recall Deborah said on podcast that can be few hours depending on business.
I bought the first electric scooter imported from China to the U.K. over 20 years ago. I know I was the first because the firm selling them told me they had the only licence from China to sell them here and I was his first customer. I whizzed about on it, people stared in amazement. It aIso had a detachable seat. I loaned the scooter to my brother telling him DO NOT overcharge it. Soon as it’s charged unplug it…………He left it charging overnight in his garage and fucked it. The battery was actually welded inside a metal case under the base, you couldn’t get to it, so the whole thing was now useless as an electric scooter. ….. 20 years later electric scooters are everywhere….and they STILL don’t have a charger that shuts off when the battery’s charged ! For anyone wondering it cost me a bit under £300 in about 1999 and was at least twice as heavy as scooters now, it also easily got punctures in the tyres for some reason. It had a fairly sophisticated rear brake and if the puncture was in the rear tyre it was a right palaver dismantling the brake to get the wheel off.
You must pay your taxes, end of story and if this guy wasn’t taking it seriously, he is foolish. I think that, having to walk up a stairs before a pitch, has an effect on the entrepreneurs because the heart rate kicks in only after they have began their pitch. This affects their thought processes and can make it difficult to think clearly, Humouring a dragon is a must when they are going to make an offer and to say the percentage is not negotiable is another ridiculous answer to a dragon.
Duncan - two people you should always pay, your doctor and the vat man. After a recent visit to my doctor he looked at me bemused when I got my wallet out and asked how much do I owe you??
I'm shocked how judgmental he is, making fun of people with silly business ideas who want a better life for them and their families, while this guy gets a hard on for kids😆
According to Irish Newspapers, after a few big failures, this guy finally got on track, and is a millionaire now. His 3rd venture is a rental electric bicycle company.
He was so close to an offer from Duncan but his stubbornness to negotiate on the equity was his downfall. He could of given ten percent to Duncan, ten percent to Theo but he just wouldn't budge.
I think he just needed a breather Imao. Probably thought it would look bad if he didn’t look phased carrying that thing up stairs. And Peter absolutely hated this guy lmao
You can’t expect anybody to associate themselves with you if you admit to breaking laws. His product might have been a risky fad but ultimately his downfall was his attitude about tax and also dependence on that one supplier to continue manufacturing and exporting products to him. If they choose another supplier, he’s toast.
companies dont have to pay VAT until they pass the 85k turnover threshold so that man probably didnt even know he didn't owe any VAT (or if he did it was very little) in the first place because he is so inexperienced.
VAT is the equivalent of a US state's sales tax but it is enforced using customs' powers because you are supposed to hand over what you collect straight to Her Majesty's Revenue and Customs. It isn't up for negotiation. It isn't yours and it cannot be offset against a loss. If you sell something to a consumer for £1 you add 20p VAT and (subject to an offsetting for business to business transactions with another business charging VAT) you owe HMRC 20p. If you don't pay it you are a thief and HMRC has draconian powers to deal with you. It's not like not paying a corporate tax on profits. You can argue about that for years. If you don't pay VAT you have collected from a buyer you are finished.
Peter feels very strongly about casual outfits in the den… the fact he has that… tiktok guy sitting next to him these days must drive him absolutely nuts… 👟
Nothing wiser than to go on live TV and admit you have undeclared and unpaid tax
Theo’s subtitles at 9:13 “I always pay the Batman. I ALWAYS pay the BATMAN” 😂
If you don't pay the batman, I'd wager he might do worse than put you in prison. >.>
😉
Vatman.....not batman
@@nzdave4317 That’s not what the subtitles say
@@nzdave4317 stop
Maybe he just found one of those bikes on his way home from the pub and walked on to Dragons Den 😂
😆👍
@BERSERKERRADIO ?
@BERSERKERRADIO that's o.k 👍
Your probably right there Kushim.
:^)
That was the best Peter roast I’ve ever heard on dragons den and I’ve lived on their TH-cam for like 3 months
That was not a Roast whatsoever, it was anoying and disrespecful.
10:15 That "I dOnT kNoW pEteR" may be the sassiest Peter comment
I cannot fathom how mad / ignorant / arrogant / delusional do you need to be to ask a dragon "Have you started out your own company?"
I would have laughed my ass off (if I was a dragon ) when he said that
Most people who start a company look into taxes and pay them. It's really weird that he thinks his view is normal. Again at the end he said "I felt a little bit insulted about the way he was going on about how I don't pay the VAT. I think I'm an entrepreneur, I'm taking risks." He got the part with the risks wrong somehow. You take financial risks, not legal risks.
Very
Some dragons don’t start their own company and just have a lot of money, like Jenny. Ironically all her investments are noticeably successful, even if it’s just 5.
Also you can own a company without starting it, such as buying it or inheriting it. Thus robbing them the experience of starting their own their scratch.
@@cekojuna6930 of course! you're totally right! The point here is, you don't ask a dragon that question. It's called dragon's den, not "Lucky Powerball Lotto Winner's Den". But regardless, let's say for the sake of argument that all dragons are simply loaded and never started a company ever. The question itself is an example of cognitive bias in which he's assuming that someone that hasn't started a company himself (which is not the case, but again, let's say it was) wouldn't understand the hardships and problems that would ultimately lead you into the "not paying VAT" direction (As if it was common practice and hence nothing to be worried about)
But yeah, you're right. It's just not that the question itself is wrong, but rather what posing that question actually implies.
1:55
That damning *squeak* just sums up the entire pitch
Erm, 2 of the Business were actually about to invest in him you know did you actually watch the vid beyond that point?
Would have been more accurate if you said ''summed up his Valuation''. But I feel a bike tumbling down a cliff sums that up better
@@netweed09 wat
Thomas looks like every CEX employee ever
omg
That’s because he is. All of them. Combined.
Hahaha. Typical gamer style
This comment is so specific yet so accurate
And with the same level of social skills.
"Has this got a seatbelt on it?" What a joker Theo is man 🤣
Theo Facetious
I think it would be less safe with a belt. Imagine falling with a bike whilst being chaned to it.
@@chanchito4401 Theo The Fetus
@@abacus7087 Theo is very precious indeed!
The HMRC just love Entrepreneurs like this who go on TV and admit their mistakes ...
An absolutely savaging from Peter, was half expecting him to carry on but just get really personal ‘and I hate your hair, I can smell you from here, and if I saw your nan I’d smack her’ calm down, Peter.
The kid deserved what he got. He's a fool and yes, he dressed like shite asking for $200,000.00. I bet you wouldn't have given him YOUR money if you earned it the hard way.
@@getin3949 a homeless person asked me for some of my hard-earned money the other day, I said ‘sorry mate’ and carried on with my day, but then that probably wouldn’t make very good television would it? 😉
Nah, Peter is normally bang-on. He saw a bum trying to wing it on DD
Yeah Peter, those colourful socks are COMPLETELY insulting, unprofessional and undermine any idoltry I formally had for you. SO, for only that reason, I'm skipping off for a pint. 🍺
Well, that mad lad did start it.
Imagine him turning up at your House with a Tri-bike asking for £200000
Guy looks like he should be browsing dvds in HMV
or stealing them.
@@elastronaute1198 the real reason "those" films are on the top shelf isn't to stop kids getting them, it's that they're harder to steal 😂
@@ThunderChunky101 Nobody said anything about "those" films; but you just revealed something about yourself which is rather interesting.
@@ThunderChunky101 What a weird thing to bring up out of nowhere.
@@PH5221 it's called a joke...
1:00 Thank God the narrator pointed this out for us, I would never have guessed.
The narrator has a good eye. I didn't pick it up at all.
"MJM, the commenter with narration credentials, is skeptical of Evan's narration performance. And now, AgileKhan is ready to show his hand."
@@AndrewJJ-0114 haha touché
That's exactly what I thought 🤣
Hahahaha, go watch the Harry and Paul spoofs of dragons den! These guys do this so well. Kitten stomper is my favourite
VATman: “ I am watching you now very closely!”
Do you owe the VAT man any money?
Probably...
8:37 that’s how I was feeling. The moment this guy stepped into the den, I know they say don’t judge a book by it’s cover but this guy I just had a feeling he wasn’t going to get an investment. Peter’s words before he declared himself out were my exact thoughts as well.
100% agree
peter made me cackle at this pitch
He’s now a very successful entrepreneur. Never be so superficial as to judge a book by its cover. It’s results that count.
@@kennyryan625 No he isn't his product went bust and he was bankrupt
Peter really gave that guy a dressing down lol
...and I could do the same to Peter! 😍😍
I like your channel!
As usual, Peter told him exactly what he needed to hear in order to succeed in future. O'Connell is dapper af these days and very very rich.
@@remchaill9898 He lives in Dubai as a tax exile
Peter was over the Top....ignorant really.....
"I felt a little bit insulted about the way he was going on about how I
don't pay the VATs. I think I'm an entrepreneur, I'm taking risks."
Um, he got the part with the risks wrong somehow. :D An entrepreneur takes financial risks, not legal risks!
Your pfp is very very cute :)
@@hommefataltaemin Thanks! :)
The VAT inspector is a person you do not want to have standing in your front door.
It’s not taking risk, it’s called a fraud.
Getting into the den panting and sweating before you utter a word definitely has an effect on your presentation. I feel for the guys that pitched when the stairs were there, and I'm pretty glad they removed them.
Doesn't pay his VAT and openly admits it on television...
Genius
There was a Swedish tv show called something like "Swedish Millionaires" where rich people threw money around and flexed their wealth. Turned out most of them hadn't payed taxes and the tax man came for them hard after the show aired. 😂
@@ellenkarlsson9490 tror att jag har hört talas om det någon gång men aldrig sett programmet själv
@@TheSimon253 Ganska roligt faktiskt. Finns klipp på YT.
Most kids do not know about tax returns and VAT - setting up companies and all rules. They should be taught it at school and hire a good accountant whenever setting up a business
Jesus a 5 feet jump pogo stick? That sounds so unsafe
That’s ideas that you come up with when you’re drunk put a bunch of friends 😂🤣
Nah it sounds fckn cool
Anyway you can already get a 10 foot jump pogo stick, search it up
Yeah they questioned the safety of a peddle go kart but didn’t question kids bouncing 5 feet in the air and landing on their heads? Lol
Peter literally thinking how he is going to blitz this poor guy and the video wasnt even 2mins in 🤣
@1:35 you can see him mulling over how to ruin his self confidence
Wow, I think thats the most savage I have ever seen Peter Jones be! Love it!
4:27 what the hell was that? 🤣🤣
Peter's takedown at 9:40 is priceless.
Theo the Fetus. 4:27
It's the noise his ass makes on the shitter
@@boltywolty123 So,,, basic.
Turn subtitles on at 7:47. Theopha Fetus
@@boltywolty123 And the smell!!!
>Subtitles on
>"Always pay the batman"
Doug Richard: 'Would this product appeal to 14 yr old girls?'
Entrepeneur: 'Possibly, yes'
Doug Richard: 'Hmmmm...interesting...let me make you an offer.......'
Don't you mean Christian Grey !
It was proven that the girl and her friend both lied about their age.
@@ray_tupper it's all a bit suspect though and yeah he "thought" they were 17 but it's still dodgy af. The fact you would even defend the scum bag is shocking.
@@paulstables187 defend a man who was lied to by two underage girls... why wouldn't I? The fact remains that he was lied to by the pair of them about their age, proven in a court of law, yes, his sexual preference may be questionable but... again, he was under the impression that they were both of a legal age.
How does 17 make it better? The age gap is the real issue. Adult men can easily manipulate young teens. If he did it once he presumably has been doing it other times. You and I can both identify a 14 year old girl anyway.
11:55 - Absolutely Duncan and Theo 👍🏼
These are so popular in Ireland.
" that my ,ole son is a start up " :D
"probably..."
Amazing! This show is absolutely amazing! 😂
Thomas: "I swear I'll pay the VAT"
Vatman: "SWEAR TO ME!"
Underrated comment.
1:00 This is such an eye opening moment!
Haven’t started yet but this is the VAT man episode right? Yes!
I mean the title is pretty clear.... says VAT. Right there, are you unable to read?
@@Staplegunner I ain’t got time to read 😉
@@Coupdegrace1 But u just wrote a whole sentence to ask and then read the reply aswell. Surely it would have taken less time to just read the title 😂
@@beautybeauty8185 way too busy. Still haven’t had time to read the title yet. I’ll get there one day
As nervous as he was at the start, kudos to him for keeping it going.....never easy.
Perhaps he should not have continued... It just got worse when he spoke 🤣
@@scott7008 at least he tried to do something different in his life, something that made him uncomfortable. What are you doing in your life?
What a pathetic statement. People don't go onto the show with the intention of making themselves feel uncomfortable - esp if they're not making a fool of themselves and or becoming a major liability to themselves and others.
@@Matthew-lm3zldefinitely more than you...
@@jeffreyklima7612not even talking to you, yet you respond to a year old comment. No one cares or is talking to you
Man I just cannot handle the music they play after the pitch is over every time no matter how bad it is like that sound so petty every time to me 😭😂😂
Sat on the toilet and a dragons den episode life complete!
I think I've seen this guy down the pub with Super Hans from Peep Show
I laughed so hard at this I fell off my KMX Kart.
Legend has it he’s still catching his breath
Doug: "How old is your youngest sister?"
Tom: "Um, I... what?"
Inappropriate. He was cleared of all charges.
@@BenjaminGoose Doesn't change the fact that he prefers much too young girls.
@@BenjaminGoose he admitted it though. she was 13 ffs
She lied. Said she was 17. Charges were dropped.
@@_tor yes but even 17 is weird for someone who is in their 50s to even been interested in teenagers of any age is bizarre that excuse is so distasteful and worn out.
How are we all doing today? Settling in for lunch, dragons den, then my daily walk round and round and round in circles because we can't travel anywhere.
I got my tooth extracted! Painful lunch today :(
@@0xc0ffee_ ouch, sorry to hear that! Feel better soon
@@0xc0ffee_ get well soon!
@@0xc0ffee_ what time was your dentist appointment, 2:30?
@@Ritson01 8 am :(
ah the vat man, 1 day late on either submitting or paying them and they screw you to the wall, you find that out quickly in business, 6 months down the line for him would have been liquidation for sure
They really don't though.
@@Foldy435 ok you do have to repeat that one or two times being late, but they are the harshest of all the tax related 'man' and have the highest fines
@@nathanpiper1346 highest fines is entirely the point tho. If you come from f/a and are trying to get ahead you HAVE to take risks. If you take an educated gamble that you will be better off delaying a payment & that gets you ahead so be it. If it doesn’t work out you are marginally worse off.
The vat, tax , government, robbing bastards want you to be scared. It keeps the competition at bay.
What’s the worst that’ll happen ?
@@cam691988 Robbing bastards? He has already charged his customers the VAT so who is the thief?
@@robertlavers1121 He's juggling money not robbing from people.
Totally agree with Peter a big part of securing a deal is how you present and your appearance basically you need to make an effort and Tom didn't!
I’ve always read about Jenny not investing but I haven’t ever seen Rachel ever invest either
@@alexrichardson9592 Doug has never invested in anything.
Rachel has done some.
i remember the snowbone and sofa hammocks
I vaguely recall Doug partnering with Peter for something.
@@Nthstar Doug successfully got 3 bids accepted in the 2 seasons he was on. Not sure how many other bids he put in though.
Probably for the best Rachel had to leave the show cause one of her businesses went under, ironically
The laughing could've been nerves. Nervous people are often misunderstood.
No i understood, he was laughing.
No they’re not. Im pretty sure everyone was nervous at least once in their life
@@kingzoe5534 But not this time, he was laughing.
@@loreta4835 He's having a panic attack.
That might be true if he didn't continue along with words as well. It wasn't the physical act of laughing they're referring to. It's him giving zero fucks about his debtors and creditors and then trying to justify that attitude when he's pulled up on it because "muh cash flow".
I’ve never heard them ask about vat before, I reckon they had advance notice from his interview before the recording.
Almost like it's a scripted TV show.
Or they always ask it but it’s edited out because most people pay it so it’s not interesting
Actual pitches are much longer and they edit it to 15 minutes of the most interesting moments. If I recall Deborah said on podcast that can be few hours depending on business.
Been looking for this clip for ages, this is the first time I remember watching the Dragons
Well now that you found it, Thomas its my boss lmao
I bought the first electric scooter imported from China to the U.K. over 20 years ago. I know I was the first because the firm selling them told me they had the only licence from China to sell them here and I was his first customer. I whizzed about on it, people stared in amazement. It aIso had a detachable seat. I loaned the scooter to my brother telling him DO NOT overcharge it. Soon as it’s charged unplug it…………He left it charging overnight in his garage and fucked it. The battery was actually welded inside a metal case under the base, you couldn’t get to it, so the whole thing was now useless as an electric scooter. ….. 20 years later electric scooters are everywhere….and they STILL don’t have a charger that shuts off when the battery’s charged ! For anyone wondering it cost me a bit under £300 in about 1999 and was at least twice as heavy as scooters now, it also easily got punctures in the tyres for some reason. It had a fairly sophisticated rear brake and if the puncture was in the rear tyre it was a right palaver dismantling the brake to get the wheel off.
It could be worse, he could ask what the hell VAT is xD
You must pay your taxes, end of story and if this guy wasn’t taking it seriously, he is foolish. I think that, having to walk up a stairs before a pitch, has an effect on the entrepreneurs because the heart rate kicks in only after they have began their pitch. This affects their thought processes and can make it difficult to think clearly, Humouring a dragon is a must when they are going to make an offer and to say the percentage is not negotiable is another ridiculous answer to a dragon.
Duncan - two people you should always pay, your doctor and the vat man. After a recent visit to my doctor he looked at me bemused when I got my wallet out and asked how much do I owe you??
I don't know what planet I'm on anymore.
Earth 2.0
this one was brutal, BRUTAL, I can imagine the VAT man smashing that bike to BITS! And yeah, LAUGHING.
Genuinely thought he was gonna pass out there for a second.
I didnt even know what he was pitching,needed subtitles at the beginning
3:12 A seat belt? Lol
4:27 Sounds of good time
According to the subtitles, Batman will put you in prison.
I’m surprised Doug wasn’t going for a product involving kids
I'm shocked how judgmental he is, making fun of people with silly business ideas who want a better life for them and their families, while this guy gets a hard on for kids😆
🤣🤣🤣
Ouch lol
What have I missed
@@LOST815EXECUTE google Doug Richard and you’ll find out pretty quickly
New lunchtime viewing! Cheese toastie today for me!
Only now watching this clip with my supper pek and chips 3 slices of bread
"I haven't learned how to ride a bike yet" - Theo the fetus
One of the most uncomfortable pitches in DD history
I love Peter! Spot on
According to Irish Newspapers, after a few big failures, this guy finally got on track, and is a millionaire now. His 3rd venture is a rental electric bicycle company.
Proof
Can you please provide said newspapers
@@tomrodwell9911 Google Thomas O Connell. CEO of Yvolution and Moby. Many irish newspapers like Irish Times cover him.
@BERSERKERRADIO EY OHH
I don't believe that. This guy has the charisma of a wet potato.
Wow we had a day where we used kmx’s when I was in primary school nearly 20 years ago
Lil Thomas learnt that day that you cannot escape death & taxes. 😂
He was so close to an offer from Duncan but his stubbornness to negotiate on the equity was his downfall. He could of given ten percent to Duncan, ten percent to Theo but he just wouldn't budge.
Could have, not could of
@@soilcredibility thank you for the spelling /word lesson. 🤣🤣
@@davetherave1729 you're welcome Dave! Have a good evening!
Listening to his pitch, one would think he was about to soil himself! Mate was so nervous!
I think he just needed a breather Imao. Probably thought it would look bad if he didn’t look phased carrying that thing up stairs.
And Peter absolutely hated this guy lmao
lol, Peter really hated this guy.
Where do I find full episodes??
4:27 When you let one rip but soil your undies in the process
Theo sharted.
@@cockpiss9260 they don’t call him Theo the fetus for no reason
You can’t expect anybody to associate themselves with you if you admit to breaking laws. His product might have been a risky fad but ultimately his downfall was his attitude about tax and also dependence on that one supplier to continue manufacturing and exporting products to him. If they choose another supplier, he’s toast.
Big respect this boy very nice bike
He's the inspiration for Harry Enfield 's Sweaty Man.
note to self: don’t laugh at the VAT man
I feel like he just snuck in thru da window 🪟
The skylight apologised for intruding on the neck focal...
Been watching these for ages now, and I only just looked up peters net worth, man he is stacked...💸💸💸💸💸
Yep the dragons definitely don't want the tax man looking too closely 😂
companies dont have to pay VAT until they pass the 85k turnover threshold so that man probably didnt even know he didn't owe any VAT (or if he did it was very little) in the first place because he is so inexperienced.
"I don't know Peter" 👁👄👁
When she says we are just friends 0:55
I expected a better video from his laptop, should've had a video screen showing it in action and explaining the product in detail like selling a car.
Ohh I actually didnt notice there was no Debrah until the end
Damn, i checked out his linked in and he grew it to 60 million by 2014. Yvolution was the company.
Yeah he did well for himself. Not surprised tbh he seems like a hardworking lad
Does the VAT man come from the same realm in Hell as the IRS??
Yes he does
Is "VAT" British for the IRS?
Not quite, the equivalent of the IRS is HMRC. VAT is value added tax, what I think is just called sales tax in the USA.
VAT is the equivalent of a US state's sales tax but it is enforced using customs' powers because you are supposed to hand over what you collect straight to Her Majesty's Revenue and Customs. It isn't up for negotiation. It isn't yours and it cannot be offset against a loss. If you sell something to a consumer for £1 you add 20p VAT and (subject to an offsetting for business to business transactions with another business charging VAT) you owe HMRC 20p. If you don't pay it you are a thief and HMRC has draconian powers to deal with you. It's not like not paying a corporate tax on profits. You can argue about that for years. If you don't pay VAT you have collected from a buyer you are finished.
That's what you deserve for laughing at the VAT man
This day I be mostly having tuna and sweetcorn pasta
Ayyy same
Today I have mostly been eating cheese and onion pie.
"I am am entrepreneur, I take risks" Tax dodging is not taking a risk, it is breaking the law.
I was out the moment he asked "gave you started your own company?"
Peter feels very strongly about casual outfits in the den… the fact he has that… tiktok guy sitting next to him these days must drive him absolutely nuts… 👟
Well said Peter! I was thinking the same!
It took me 1 minute and 46 seconds to recognize the language, which is slightly more than listening to the Drag Gons
If Thomas had included a 13-year-old girl, I'm sure Doug Richard would have invested.
Thomas can now be seen working at his local McDonalds
If the VAT man was watching this, he'd be straight round this guys place next morning. And I bet his presence in one form or other showed up..
I dont care who the VATman sends, im not paying taxes!