What are you going to with your £60?

JET34

ohhh I think in fact I know that mine will go on nursery fees... great......

Lucifa73

xxlaurissaxx wrote: »

Wont it get taxed tho? like everything else, hense the reason i dont do overtime anymore. xx

Shouldn't do. Its effectively a tax rebate and you can't get taxed on tax!

Tootie_Fruity

oscar52 wrote: »

I thought it was just the 60 quid? (which I had actually forgotten about)

Will probably put it to one side to pay my car tax.

That's the sad thing for most of us - Gordon took the £60 tax, then returned it so that he could take it back as a tax somewhere else. Waste of time really. Bummer.

Lucifa73

Tootie_Fruity wrote: »

That's the sad thing for most of us - Gordon took the £60 tax, then returned it so that he could take it back as a tax somewhere else. Waste of time really. Bummer.

If you weren't getting the £60 back you'd have to be finding it from elsewhere...

yes he's a wuckfit but cashback is cash back...

moneymabel

Debt_Free_Dreamer wrote: »

Moneymabel, I hope you get it. It would be great to be debt free and looking at your sig, you seem to have cleared a lot in a small amount of time. Keeping my fingers crossed for you.

I am going to put mine on the Barclaycard as part of the 'Payment a Day' thread. I cannot wait till the 28th. £60.28 off the bill! (the 28p denotes the day of the month for payment tracking purposes)

Thankyou debtfreedreamer :beer: That will be a nice payment off your card-i know its our money but i wasnt expecting to see it again so its a bonus!!

postingalwaysposting

Candy0107 wrote: »

I am going on a much needed holiday in 2 weeks, and wont get paid a full weeks wage (I temp), so this will come in handy - it is the equilivant of a days wage.

Take care
Candy x

Its two days wages for me :j Mine is going to be used for xmas presents... yet I leave work before march 09 so will lose many of the £10's :mad:

oscar52

Lucifa73 wrote: »

Shouldn't do. Its effectively a tax rebate and you can't get taxed on tax!

Dont want to throw a spanner in the works, but thats exactly what happens with petrol. You pay VAT on the fuel duty (or tax) that makes up the bulk of the price. Fuel duty (on petrol) is currently 59.2p, and you pay VAT on this to the tune of 10.36p - effectively paying tax on tax.

76rosie

think I'm due for a filling in my tooth. Will 60 pound pay for laser treatment in Harley street???? I won 7 pound on the euro millions too. What alucky week i'm having!!!

Burlesque_Babe

I'd forgotten about this! Excellent! I'll call it my 'cashback for 2/3 of the price of my train ticket to the DFW Leeds meet money'.............catchy, huh?

Lucifa73

oscar52 wrote: »

Dont want to throw a spanner in the works, but thats exactly what happens with petrol. You pay VAT on the fuel duty (or tax) that makes up the bulk of the price. Fuel duty (on petrol) is currently 59.2p, and you pay VAT on this to the tune of 10.36p - effectively paying tax on tax.

Fair point. Comparing taxes indirect taxes and direct taxes is like comparing apples and onions. A fundamental principle of direct taxes e.g. Income tax is that you won't be taxed on the same income twice.and you won't get taxed on a tax rebate, which, as I understand it is what the £60 and subsequent £10s amount to.

The catch comes next year when the PA doesn't increase beyond the treasury's initial intentions so the hit is simply being delayed.