petemcewan Posted January 6, 2017 Share Posted January 6, 2017 Its the problem of having to prove it - that takes a long time, takes expense and causes immense problems. What if you are going to buy a car? Or a caravan? That £2k in your pocket? Gone. Oops. You get it back three months later, but the car has been sold by then of course. I cashed up my change jar about a year ago. £1400 in coins. Prove where that came from - it's excess change from many thousands of transactions dumped out my pocket over the course of a few years. When my grandmother died, we found £27300 in cash hidden through the apartment. Interest from the sale of her house - she used to take it out and keep it for a rainy day. Dementia does that to people. Took us ages to be sure that was where it came from - and we reckon that £6k was never found because it was probably thrown out sewn inside the furniture upholstery before we found the first lot packaged in a load of towels. That was my parents money by inheritance and right - but we could never prove where it came from for sure I wouldn't think. Obelix, I agree with your point. I had taken £3000 out of my account to buy a second hand motor from Spot Motors in Abbeydale Road. I would have been rather peeved if the Old Billy had had my money away on groundless suspicion. I think I would have to be dead before they could get me to leave go of it . Link to comment Share on other sites More sharing options...
Robin-H Posted January 6, 2017 Share Posted January 6, 2017 No, absolutely not. I pay about 3.5k tax and NI per month from my salary, I think that's more than enough. Does anyone on here track any extra money they get? For instance, if someone paid you £20 to do something for them, would you report to the tax man? I absolutely track any other income I earn from other sources during the year yes. Not doing so is tax evasion and is illegal. Funnily enough whether or not think you you pay enough is not how it works. You've just admitted that your salary accounts for half your income and you pay 3.5k tax in NI per month from that salary. That amounts to roughly an annual income of around £110,000 give or take. If that is half your annual income, you would be guilty of withholding over £40,000 a year from the treasury. Is that what you're admitting to? Link to comment Share on other sites More sharing options...
Cyclone Posted January 6, 2017 Share Posted January 6, 2017 If you're making as much as you suggest then you're also evading tax (not on the gambling, that's tax free). And if you're not bragging then you're paid £113,000 a year, which almost certainly means you're doing self assessment and probably paying an accountant for that (or one is provided by work) so they'd be well aware that selling buying and selling in that fashion is effectively running a business and income tax is due. You ask if anyone would report getting paid £20, but you've claimed to make another £35,000 a year in buying/selling/services and gambling. Even if we're generous and assume you win £20k a year gambling then you're hiding £15,000 of income from the tax man. Link to comment Share on other sites More sharing options...
ECCOnoob Posted January 6, 2017 Share Posted January 6, 2017 No, absolutely not. I pay about 3.5k tax and NI per month from my salary, I think that's more than enough. Does anyone on here track any extra money they get? For instance, if someone paid you £20 to do something for them, would you report to the tax man? So because you pay a heavy amount of tax on your 6 figure annual salary you think its fine to skip mentioning those little cash in hand earners you do. Lovely. Link to comment Share on other sites More sharing options...
Cyclone Posted January 6, 2017 Share Posted January 6, 2017 Ironically If you are planning on stealing from the NHS, I wouldn't announce it on here. However withholding income tax to the tune of about £7300 a year, you'd advise people to be quite open about that. Link to comment Share on other sites More sharing options...
Robin-H Posted January 6, 2017 Share Posted January 6, 2017 (edited) Ironically However withholding income tax to the tune of about £7300 a year, you'd advise people to be quite open about that. They've admitted that their salary contributes only half their income - therefore the income tax they are illegally withholding would be significantly more than that. Edited January 6, 2017 by Robin-H Link to comment Share on other sites More sharing options...
melthebell Posted January 6, 2017 Share Posted January 6, 2017 My son has a bank account and from the security point of view he lost over £5000 on an online phishing scam so so much for security. Do you know how much fraud there is because of bank accounts and the internet? Why does a bank account suddenly enrich my life when I can perfectly cope without having one. I don't like acting like a sheep and following trends just because others cant cope without doing so. Its also one of the reasons I don't have a mobile phone and that is simply down to the fact that I don't need one. ive been online since 2000 and *touch wood* never been scammed, phished or......... Link to comment Share on other sites More sharing options...
Cyclone Posted January 6, 2017 Share Posted January 6, 2017 Gambling wins don't attract income tax, I was generously allowing 20k to be from gambling and assuming that they mean net not gross. Link to comment Share on other sites More sharing options...
Jpeters Posted January 6, 2017 Share Posted January 6, 2017 I absolutely track any other income I earn from other sources during the year yes. Not doing so is tax evasion and is illegal. Funnily enough whether or not think you you pay enough is not how it works. You've just admitted that your salary accounts for half your income and you pay 3.5k tax in NI per month from that salary. That amounts to roughly an annual income of around £110,000 give or take. If that is half your annual income, you would be guilty of withholding over £40,000 a year from the treasury. Is that what you're admitting to? If you truly do track all other income then you are in the honest minority. I pay enough tax to feed and clothe 3 or 4 families. I don't want to pay any more. If you're making as much as you suggest then you're also evading tax (not on the gambling, that's tax free). And if you're not bragging then you're paid £113,000 a year, which almost certainly means you're doing self assessment and probably paying an accountant for that (or one is provided by work) so they'd be well aware that selling buying and selling in that fashion is effectively running a business and income tax is due. You ask if anyone would report getting paid £20, but you've claimed to make another £35,000 a year in buying/selling/services and gambling. Even if we're generous and assume you win £20k a year gambling then you're hiding £15,000 of income from the tax man. An account sees what you want him to see. I play poker a lot, so we just pretend I win ore than I do. So because you pay a heavy amount of tax on your 6 figure annual salary you think its fine to skip mentioning those little cash in hand earners you do. Lovely. Yes. If I paid you a tenner to give me a lift to ASDA, would you really declare it at the end of the tax year? Ironically However withholding income tax to the tune of about £7300 a year, you'd advise people to be quite open about that. It's better than stealing from the NHS. Look I pay more tax than most. I honestly feel that the only people who can criticise are those who pay more than me. Link to comment Share on other sites More sharing options...
Robin-H Posted January 6, 2017 Share Posted January 6, 2017 Gambling wins don't attract income tax, I was generously allowing 20k to be from gambling and assuming that they mean net not gross. I see - still think it would be slightly more by my calculations but I might be missing something?.. (not that it really matters) If they earn £113,000 from their salary (before tax) they would take home around £70,000. If it was the take home figure they meant when they said 'half their income came from other sources' and they earned £20,000 a year gambling - that's still £50,000 income they should be declaring, which would would amount to around £14,500 in tax/NI. Perhaps they would care to clarify how much tax they are illegally evading? Link to comment Share on other sites More sharing options...
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