Inland revenue (IR) interest in stoozing?

smartsaver

All is revealed. Mrs IR thinks we should be paying tax on our offset mortgage. That is what has prompted the enquiry during the period 2004/2005 because this is when the mortgage was taken out.

She was not bothered how the money arrived in the offset account ie by stoozing. Although she wanted to know why we had taken out so many credit cards.

Mrs IR is going to write to our building society (The Britannia) to confirm no tax is payable and all should be well. Phew...

jue

I'm glad its all sorted out for you SS this must have felt like an eternity for you the last few months.

Lopo

hehehe! - all is well then !

So what were her thoughts on stoozing while you were on the subject !?!

Lopo

gingercordial

Excellent, glad you've got it sorted!

miaxmia

Can anyone tell me what "stoozing" is - I have never come across this term before, until I came onto this website. It is forever cropping up and would be pleased if someone could tell me what it means.

YorkshireBoy

miaxmia wrote:

Can anyone tell me what "stoozing" is - I have never come across this term before, until I came onto this website. It is forever cropping up and would be pleased if someone could tell me what it means.

Stoozing is simply "making money from credit cards".

Martin has written an article here, and there's even a website dedicated to it at https://www.stoozing.com

gingercordial

miaxmia

See here http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1076883546,34894,

Basically if a credit card is willing to lend you money at 0%, you can take that money and put it in a savings account and earn about 5% interest, which you keep when you eventually have to pay off the card. But it does get rather more complicated in practice...

miaxmia

YorkshireBoy wrote:

Stoozing is simply "making money from credit cards".

Martin has written an article here, and there's even a website dedicated to it at https://www.stoozing.com

Thanks YorkshireBoy - I'm into stoozing, but I never knew that is what it is called - glad to be enlightened!

Bordera

Thanks for the update Smartsaver. I'm so glad all is well.

It might just be me but I STILL do not understand why the credit card statements were requested when it was an offset mortgage account in question?

Ah well, such are the ways of gods and HMRC :rolleyes:

smartsaver

They have actually taken all our credit card statements to 'look at'. She was querying why we had taken out so many cards. Mr SS adv to take advantage of the 0% deals but this appeared to go over her head. She said she didn't know anything about those... She said it will be a few months before we hear from her again...

IR employee last seen buried and pile of credit card statements :rotfl: