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8 year old wants to earn money
Comments
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atlantis187 wrote: »Why not give him some of the tax credits and child benefit you get for him towards his pocket money.
Did you not read the first two sentences of the op?0 -
He has been helping grandad a bit but also had to pay grandad for the plants. He was working out how much he could sell some rhubarb for and then had to work out a price to buy it off of grandad and then the negotiating started! Think grandad was robbed! He then sold the rhubarb to my in-laws and made a decent profit.0
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Am I the only one who things some of these suggestions about setting up as self-employed and paying tax is slight overkill???
He is a child, selling some of Grandads vegtables. Not some little business man.
Sell to friends, family and neighbours. Be careful who you choose otherwise you might get someone with issues if they get some dodgy stock.
But honestly just let him be without all the complicated dramas.0 -
atlantis187 wrote: »Why not give him some of the tax credits and child benefit you get for him towards his pocket money.
By the sound of it this is the first time he's had to earn it but had money until now, so maybe he did get pocket money but wants more?
Also his parents wants him to do something to earn it... It will teach him a valuable lesson about money. Using the child benefit and tax credit money isn't a solution.beckysbobbles1 wrote: »Am I the only one who things some of these suggestions about setting up as self-employed and paying tax is slight overkill???
He is a child, selling some of Grandads vegtables. Not some little business man.
Sell to friends, family and neighbours. Be careful who you choose otherwise you might get someone with issues if they get some dodgy stock.
But honestly just let him be without all the complicated dramas.
No I agree, some people need to take it down a peg or 10. He's not a 25 year old entrepreneur delivering French cuisine to Buckingham Palace.
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He has been given money for his birthdays and also gets the odd pound coin given to him when visiting family, I don't just give out weekly pocket money. If my children want something such as extra toys then they have to pay for it, up until now he had a nice little sum in his money box but he has had a little spending spree on rugby magazines, spending money for day trips etc and the pot is empty. He does have money in a building society account which I won't let him have yet. He usually spends half his birthday money and banks the rest for future saving. Im hoping to give him the knowledge to learn to be sensible with his money in the future.
Yes I think we will stick to friends and family with the selling of the veggies.0 -
Just read this thread and think it's wonderful what your son is doing.
If he carries on with good ideas like this he may well be telling us all about how he stared out selling Grandads excess veg when he enters The Dragons Den as a new Dragon in a few years time. Here's hoping :rotfl:
Keep the encouragement going and don't worry about any red tape at this stage - plenty of time for that when he grows up
ChezThat money talks I don't deny, I heard it once, it said "Goodbye"0 -
Thank you
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