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40% tax on earnings...affect on savings

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Comments

  • jem16
    jem16 Posts: 19,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    WaxiesDargle wrote: »
    I have to pay 40% on all that 10 grands interest?

    Hopefully this is all hypothetical and you have not been failing to declare savings income whilst under the misapprehension that your earned income needs to be in the 40% tax barcket before you need to pay 40% tax on savings?
  • WaxiesDargle
    WaxiesDargle Posts: 1,062 Forumite
    jem16 wrote: »
    Hopefully this is all hypothetical and you have not been failing to declare savings income whilst under the misapprehension that your earned income needs to be in the 40% tax barcket before you need to pay 40% tax on savings?

    I thought the one pound over the threshold would make it sound hypothetical

    and this

    and I have £10,000 savings not in an ISA (that would be nice)

    no savings.. but thanks for your concern jem ;)
  • jem16
    jem16 Posts: 19,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 26 July 2009 at 4:24PM
    WaxiesDargle wrote: »
    I thought the one pound over the threshold would make it sound hypothetical

    and this

    and I have £10,000 savings not in an ISA (that would be nice)

    I realised that you didn't have £10k of savings - meant any savings.
    no savings.. but thanks for your concern jem ;)

    If you have no savings what's the point of this thread? :confused:

    Didn't want the taxman after you. ;)
  • Saving
    Saving Posts: 31 Forumite
    edited 26 July 2009 at 9:23PM
    tobiascurious wrote: »
    effect, not affect

    sorry

    Nope they were right with Affect

    (sorry)

    Oh I didn't notice the title of the thread... carry on!

    :)
  • Aegis
    Aegis Posts: 5,695 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Saving wrote: »
    Nope they were right with Affect

    (sorry)

    Oh I didn't notice the title of the thread... carry on!

    :)
    Not in the title. Affect is the verb, effect is the noun (well, effect is also a verb, but a different one). As such, it's "effect on savings" without a doubt.

    I think you were just looking at two separate uses though.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • timydog
    timydog Posts: 13 Forumite
    :rotfl:See my thread;:rotfl:

    Tax Evader without even knowing it?


    Dictatorship won't allow links, :rotfl:
  • evenasus
    evenasus Posts: 11,866 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    tobiascurious wrote: »
    effect, not affect

    sorry
    Grammar.jpg?t=1248641443
  • Hungerdunger
    Hungerdunger Posts: 964 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    timydog wrote: »
    :rotfl:See my thread;:rotfl:

    Tax Evader without even knowing it?


    Dictatorship won't allow links, :rotfl:
    You mean like this?
    "The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens
  • WaxiesDargle
    WaxiesDargle Posts: 1,062 Forumite
    jem16 wrote: »
    I realised that you didn't have £10k of savings - meant any savings.



    If you have no savings what's the point of this thread? :confused:

    Didn't want the taxman after you. ;)

    sorry jem I will ask your permission next time :rotfl:

    no savings now...but with my new job there will be...is that ok now ;)
This discussion has been closed.
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