MSE News: New loophole so you pay no income tax uncovered - but go quick

Former_MSE_Helen

A loophole uncovered by MoneySavingExpert enables you to get out of paying any income tax on next year's earnings...

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New loophole so you pay no income tax uncovered - but go quick




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dano17439

ba dum tish :-)

d70cw6

i creamed myself

Sue_S

Brilliant! Fell hook, line and sinker!

ricz_1

What was that saying about a fool and his money...?

dvnam

I have zero income so consequently pay no income tax.
PS - I am the Queen
PPS - It's still 1992 right?

WrexhamRob

bazinga! Bazinga!:d

blanik

As the newsletter arrived after 12:00, my first reaction was - have I missed the chance?

So well and truly suckered.

Pincher

Not fair, I hadn't had my coffee yet.


That was a good one. Cheers.

phjnj

The biggest joke of course is the earnings threshhold for not paying tax might be £10,600, but any earnings are also subject to National Insurance, which, although isn't a tax, sure as hell feels like one!!

XRAT

Thanks Martin,
I wondered what you'd do this year, it brought a smile to my face as soon as I saw it.
But thanks to the advice on this site, having earned £73.5K this year and paid it all into a pension (using past and present allowances) my £19K tax bill will all be refunded.., can't wait to self assess on 6th April.
The only downer was that if I'd earned £3K more I would have been able to take advantage of the full £190K allowance.
I'll work 2 more months and do the same for next tax year, then I'm giving up on the rat-race and retiring! Yay!!!


My thanks to Jem (below) for the correction. It looks like I'll end up paying a few grand in tax after all then. (BOO!)
Back to the calculator..,