Economic Living Is The Exercise

Munqui

henlans wrote: »

I wanted to post a really good story that I did with my child that was 7 in july.. He was giving about £250 from family and friends for his birthday.. because he was so excited about the lego dimensions that come out today! He saved ALL his money to spend today.

When the fanta glitch come.. I said to him.. how about you help me and you can have all the profits from the 500 bottles of pop and he was so excited to help.

So I took him out on saturday and the sunday and we bought 500
(I bought more but this was with him) bottles of pop with his £250 and sold them for 70p a bottle. so his £250 investment gave him about £235 back in APG's plus I added a little to top it up. He now has £350 worth pop to keep selling and half of it has gone and in the end had £220 in APGS and hes now at school and looking forward to this.

He worked hard, hes learned about how to make money, how to sell drinks.. hes only 7 and was happy to help.

But this is what he ended up with today for £200 in APG's and has £20 left.




All 100% free He now wants to do it again for the next batch that comes out next year. So he got back his £250 and a extra £100

BTW.. Personally.. for £200 I think this is so over priced.. but in the end it was free..

Child labour making him carry 500 bottle of pop in from the car :rotfl:

Now if you employed him to bring them in, then would it be tax deductible :think: :money:

karlie88

tweets wrote: »

I don't need to google him I know who he is from yesterdays rant .
I read it on daily mail online :rotfl::rotfl:

Lots of :rotfl: parodies appearing now too. Bit too rude to post here though; especially before the watershed. :eek:

LEJC

Good to see you back Munqui....and glad that Mrs M is well on the mend....although a convalescing female can never have too much chocolate so I hope the glitch works for you.

tbw

I am currently getting my knickers in a major twist over my Self Employed tax return ! If anyone can help me with a bit of advice I'd really appreciate it.

For a few years now I've done a bit of Mystery Shopping so had to register as S/E and fill in a yearly assessment form - up till now thats been easy enough to do especially as I do very few jobs now. This year its all gone pie shaped ! My State Retirement Pension , Private Pension , Share income and Bank interest etc all have tax taken off at source - according to my tax calculation I owe them £1.40 so its pretty much right. I've managed to make a loss on the Mystery Shopping of a little over £100 so I need to set that against my other taxable income - but when I insert those details I still end up owing them £1.40 and I can't understand why as it seems that I am not getting any allowance for my loss of profit.

I guess I have omitted to put this loss in a relevant box somewhere but I can't see where it should go. If anyone can tell me which section it should go under I'd really appreciate it.

bubbs

LEJC wrote: »

umm that's possibly because halloween is approaching...forgotten about that one when the weather is so nice at the moment.

I know its glorious very foggy here in the mornings though but can cope with that

bubbs

Munqui :wave:
Hey up nice to see you here

silvercar

tbw wrote: »

I am currently getting my knickers in a major twist over my Self Employed tax return ! If anyone can help me with a bit of advice I'd really appreciate it.

For a few years now I've done a bit of Mystery Shopping so had to register as S/E and fill in a yearly assessment form - up till now thats been easy enough to do especially as I do very few jobs now. This year its all gone pie shaped ! My State Retirement Pension , Private Pension , Share income and Bank interest etc all have tax taken off at source - according to my tax calculation I owe them £1.40 so its pretty much right. I've managed to make a loss on the Mystery Shopping of a little over £100 so I need to set that against my other taxable income - but when I insert those details I still end up owing them £1.40 and I can't understand why as it seems that I am not getting any allowance for my loss of profit.

I guess I have omitted to put this loss in a relevant box somewhere but I can't see where it should go. If anyone can tell me which section it should go under I'd really appreciate it.

How do you make a loss on mystery shopping? Why do it if it doesn't make you money?

I suspect the answer is that you can't set losses on self employed earnings against earned income but you can carry it forward to next year.

henlans

Munqui wrote: »

Child labour making him carry 500 bottle of pop in from the car :rotfl:

Now if you employed him to bring them in, then would it be tax deductible :think: :money:

Haha... He ran in and started to build the little ones.. the figures and that and then opened the main box.. his face when he had to build the lego portal was like.. im going to have to build it first otherwise it wont work lol.. I was like yup.. but he could have built it later.

Hes now on the game

tbw

silvercar wrote: »

How do you make a loss on mystery shopping? Why do it if it doesn't make you money?

I suspect the answer is that you can't set losses on self employed earnings against earned income but you can carry it forward to next year.

Thats exactly why I've done so little in the past year and why I've packed it up this year. In previous years any losses have always been allowed against pensions etc and I've had a small rebate at times though. I still think I have missed something on the form somewhere.

shirley999

karlie88 wrote: »

Whooops indeed. :rotfl: Did you use the £10 off code wys £60 and buy a bottle of champagne?

They've had a few online glitches recently that haven't been instore. In my experience, they'll honour any online orders.

Could I come round to yours for a crisp party? :eek:

Online glitches or a con to get people into their stores for non-existent offers?