Un-earned income

andy_johnson

I had to pay back a legal chargee loan of £9,000 plus interest to friend. I took out a loan and paid back £18,000 still owe another £8,000 which along with the some of the £18,000 is all the interest.
This friend is doctor and earns over £80,000 a year.
I asked if he has told the tax man, he said no, as hes allowed so much un-earned income, is this right. ??

Pumpkinface_2

andy_johnson wrote: »

I had to pay back a legal chargee loan of £9,000 plus interest to friend. I took out a loan and paid back £18,000 still owe another £8,000 which along with the some of the £18,000 is all the interest.
This friend is doctor and earns over £80,000 a year.
I asked if he has told the tax man, he said no, as hes allowed so much un-earned income, is this right. ??

I really did not understand what you are saying about that loan and interest etc. But the doctor has a personal allowance of £6500 (approx) same as rest of us and anything he earns over that is taxable.