tax on a lump sum

Sozgirl

atush wrote: »

You say you have no taxable income but work for the family business- do they pay you under the counter or something? You should pay tax on what they pay you or at least take it into acct as income once you receive the 15K

Pay me under the counter, what's that supposed to mean.

Not that it's any of your business but, It's my husbands and brother-in -laws business, I do some books for them, do you think I'm going to charge them for doing that !!!

Sozgirl

jem16 wrote: »

Taxable income also includes interest from savings accounts plus any dividend payments from investments. It's not just earned income.

This would all have to be declared when applying for any rebate due.

Saving accounts Jem, that's a laugh :rotfl:

Soz

atush

you have to live on something?

If they give you any money at all, even small amts you have to declare it when you do the sums to get your extra tax paid back. You may be under the NIC threshold, but only you know what if any they give you so look that up. You do need to get NICs contribs for your state pension- do you claim any benefits such as jobseekers? If so, that will give you NICS but do check on this.

And yes, if you perform a function that would cost them money you should charge them for it (or they should offer to pay you). After all, if they pay you they can deduct your wages as running costs.

This is the law, not me 'being nosy'.